27 January, 2017
Does Your Digital Program Suffer From An Aspiration Gap?
Contrary to aspirations of many, the digital revolution hasn’t turned out to be a gold rush; rather, it feels like a game of survival.
The ongoing digital revolution is exciting, but it’s not exactly firing on all cylinders. Technology innovations, such as blockchain, the internet of things (IoT), cloud computing and machine learning, are impressive, but innovations in technology management — vital for realizing tangible business outcomes from emerging technologies — are grossly lagging. In my previous post, “The Weakest Link in Digital Transformation,” I explained why the multitrillion-dollar enterprise IT industry cannot evolve for the future from a retrofit of half-century-old IT management practices with relics of the industrial age. Today, we will explore why much-needed technology management innovations are so hard to come by in the digital age.
If you have been observing digital transformation initiatives across financial services companies over the past few years, you have probably noticed an implementation pattern that becomes progressively sophisticated, with increases in the completeness of vision and the ability to execute a digital transformation program. Figure 1 illustrates this phenomenon below.