Global investments in Digital transformation is estimated to reach close to $431 billion by 2021. It has not only disrupted the traditional business processes but it has also been rapidly reshaping the global economy and has created a new breed of innovators, visionaries and enablers that are making businesses, organizations and people future ready.
Pursuing digital transformation to simply keep pace with competition is no longer enough. Legacy corporations and businesses have been forced to rethink their business models. Using technology as an enabler as even the most popular brands are losing relevance in a digital age. More than half of the Fortune 500 companies have disappeared from the list since 2000 and that too with digital transformation wave beginning.
MIT Sloan Management Review leads the conversation on how technology is transforming the practice of management and reshaping the organization. As the digital revolution enters its next phase, we find ourselves confronting a new set of questions about the relationship between technology and management. These questions go to the core of the organization, to what it means for machines and humans to work together. MIT SMR focuses on this digital future for 21st century management.
Companies are investing heavily in their future by initiating a long-term program to change the way they think, work and sell themselves. The conversation has now moved from, “how good the product or service is?” to “what value does it add to the existing ecosystem?” The race is on to find the answer to this question and develop your products and services around that USP.
The technologies forming the core of this digital transformation industry - social media, mobile, analytics and cloud are already going through a phase of transition and in turn are playing a major role in how organizations communicate, interact and provide extremely seamless, efficient and specific customer experiences.
These technologies also ensure that as we get more connected as a world, the security of clients, associates and resources remain secure especially when cyber-attacks have become a daily thing that’s needs to be tackled.
DIGITRANS 2017 offers actionable knowledge for strategy, organizational roadmap, and innovation-based opportunities.
With a focus on customer centric experiences and operational efficiency DIGITRANS 2017 has the potential to reinvent, reinvigorate and rejuvenate your business.
“Digital transformation could generate $16.9 billion in extra revenue each year for companies in the Middle East from 2017 to 2021” - PwC
According to a conducted by PwC the digital transformation initiative could also result in an additional saving of $17.3 billion annually for companies in the Middle East. This signals not only the rise in revenues through digital initiatives but also highlight the cost-saving factor by implementing technology oriented processes.
“The digital could add $95 billion per year to the Middle East’s annual GDP by 2020” – Mckinsey
With one of the highest penetration of smart-phones and technology oriented products and services, the digital industry is only set to take control and add value to the existing setup. It is for this reason that Middle East is attracting companies with digital products and services for everyone.
“On an average 94% of the companies in the GCC are already experimenting with mobile technologies to engage with customers, employees or business partners” – Accenture
The growth in the sector and the opportunities that exist can be gauged from the fact that the majority of organizations have recognized the need for initiating a digital transformation program and have started planning for the same. What they need now are partners who can help execute the plan in a successful manner
“Approximately 60% of the GCC companies believe big data and analytics are important” – PWC
The need for the companies in the GCC to understand their customers better in order to provide the best of services in a secure, efficient and a customized manner is evident from the above statistic. They are investing heavily in such technology platforms preparing themselves for the future