How ESG Data Powers Sustainability, Diversity – and Business Growth
Over the past decade, enterprises have journeyed from uncertainty to digital transformation. As we make our way into the new year, Deloitte has documented the emerging technological innovations in 2019.
Cloud, analytics, and emerging technologies have disrupted IT operations, business models, and markets for the past 10 years. While these "familiar forces" are no longer "trends", enterprises are continuing to adopt and innovate with these technologies.
However, three new technologies have recently taken up the "disruptor mantle" in the enterprise space. Blockchain, cognitive, and digital reality are currently ready to become "distinct macro" forces.
Meanwhile, there are three foundational forces allowing organisations to harness innovation and maintain operational integrity. These are "modernising legacy core systems, transforming the business of technology, and evolving cyber risk strategies beyond security and privacy."
This year, PwC expects 20% of organisations to incorporate artificial intelligence (AI) into their enterprise-wide operations. Deloitte insists that "becoming an AI-fuelled organisation will likely be more than a strategy for success - it could be table stakes for survival."
In order to become an AI-fuelled organisation, Deloitte recommends rethinking the way that humans and machines interact. Executives should also focus on deploying machine learning across core business processes.
As a consequence, enterprises could benefit from streamlined data-driven decision making. Likewise, AI has the potential to drive new business models and offerings as it becomes increasingly standardised across industries.
Digital transformation demystified
Last year, just 1/3 of the CIOs Deloitte interviewed reported having an enterprise digital strategy. Furthermore, many of those with digital strategies in place had only made minimal progress executing them.
In another Deloitte survey, only 30% of execs and managers said that their digital transformation journeys were maturing. The remainder of the respondents described their current efforts as in the "early" or "developing" stages.
While transforming digitally may seem daunting, the report highlights that creating a series of "well-defined but aspirational ambitions" is key. Through this method, companies can "make the unknown knowable" and ultimately embrace digital.