The race towards digital transformation is not one that began with the first throws of the pandemic. Forced stay-at-home orders and social distancing protocols were not, in fact, the calling card of a business evolution. In some capacity, this race has been underway for years now (think more marathon and less sprint). But, with that being said, we would be remiss to think COVID-19 hasn’t had a significant impact on the driving forces and qualifying needs of transformation.
So, what has become of the technological revolution? The AI-enabled business evolution? Let’s break it down.
- With businesses and customers alike are forced into a sort of new-age hibernation period, virtual connection became the only connection. Hello, 3-hour long video conference calls.
- Beyond just a means of connection, entire economic structures underwent massive shifts. Suddenly, cash was a thing of the past and contactless payments (and everything else) became everyone’s new best friend.
- A digital chasm formed, widening the gap between those that had been quick to adopt a digital narrative and those that had not. The leaders and the laggards.
The Leaders: A business or brand, which has invested heavily (monetarily and otherwise) into a digital transformation strategy. Integrating key technology to elevate customer experiences and optimize business processes. Not to be confused with those who have attempted digital transformation, only to implement a new email system and hang up their hats.
The Laggards: Those who, for whatever reason, have failed to incorporate new technology, leaving their business to rely solely on manual or traditional forms of operations and communications. While you may be inclined to think of this group as pure traditionalists, grasping on to their old standards, this group has grown to include a much broader range of organizations.
This may be the point in which you find yourself asking, but what about those in middle? Not quite a leader, but definitely not a laggard.
In our post-COVID world, the space taken up by these middle ground mavens is increasingly dwindling, giving way to a landscape in which we can only find ourselves as laggards or leaders. Those who have mastered the art of transformation and innovation and those who have not.
Within this new framework, the importance of being a leader has become insurmountable. Gone are the days of digital as a nice-to-have. We are in the era of must-have.
So, how do you ensure your spot as a leader in our new narrative?
Strategically investing the in the resources (both technologically and culturally) to drive adoption at scale. Partnering with the right advisors and advocates to guide you through your digital journey, from step one to step 1,001. Because after all, digital isn’t really a transformation—it’s a continued business evolution requiring action and forward-thinking initiative. Are you ready?