Gaining and keeping competitive advantage for businesses has never been more challenging. At the same time, though, there have never been more opportunities to build and scale a company with global reach. With the internet as the platform for innovation and the emergence of the information-fueled economy, technology is both a strategic requirement and a strategic advantage. You've probably read about, or even experienced, a big business disruption, and for that to survive you must go through a "digital transformation."
A simplified example of a company that is modernizing a business unit might help understand the concepts better. General Electric (GE), a company that is nearly 140 years old, has been on a digital transformation or business modernization path for several years now. That path has touched all business units and changed GE's workforce, the way it engages and interacts with customers, and its business operations.
Gartner is giving organizations insight into what they can expect next year with its annual Top 10 strategic technology trends of 2017. The predictions are designed to provide organizations with an understanding of the technologies that are emerging and having an impact to society. According to the organization, the trends can be split into three groups: intelligent, digital and mesh. "Technology will be embedded in everything in the digital business of the future. Rich digital services will be delivered to everything, and intelligence will be embedded in everything behind the scenes.
'Digital transformation' has become embedded into the tech lexicon, as most organizations have moved full throttle into enhancing internal and external business outcomes. Their efforts are paying off. Some 89 percent of IT decision makers report that their digital innovation investments have been "moderately or very successful," according to Insight's 2019 Intelligent Technology Index. And CIOs continue to drive digital transformation initiatives most often (28 percent), although CEOs are increasingly playing a leadership role (23 percent), according to Altimeter's 2018-19 State of Digital Transformation. Inevitably, when they talk trends, IT leaders discuss their efforts to modernize legacy systems and expand on data lakes to create one version of the truth.