Five Traits of Great Digital Leaders 해시게임
Organizational transformation can be accelerated or derailed, depending on how effective leaders are at transforming themselves.
Technology leaders need to be able to anticipate opportunities and threats posed by digitalization, leverage technology to adapt to changing environments, and identify opportunities and create value from disruption.
To effectively lead digital transformation, CIOs need to understand and develop the following five traits.
Be a New Trendiest: Passionate and Love for New Things
Trends are naturally curious and easily attracted to new things. They are constantly exploring new ways to create value.
New wavers are open to listening to new ideas from others,
and new ideas are one of the key elements in enabling digital transformation.
Neo-Trendists care more about future goals than they have achieved and reject existing conservative assumptions.
Their lofty goals can drive the solution to many complex problems.
Good CIOs embrace innovation.
They are often extremely creative, creating new links between seemingly unrelated fields.
Seeking new opportunities: leading innovation but also learning from
Digital leaders don’t invent and innovate all the time.
In fact, successful digital leaders are able to distinguish exactly where an organization should be different,
where it should learn from others, and where it should adapt.
They are good at thinking carefully and focusing on areas of greater strength and value.
In areas where there is no clear advantage, digital leaders will work according to established methods or improvise.
And ineffective leaders often lack focus and don’t know how to innovate.
Opening up new opportunities: Crossing industry boundaries
This leadership trait is what Gartner calls a “digital dragon.”
Such leaders actively seek value beyond the industry and redefine value in the industry they operate in, thereby creating entirely new industries.
With this disruptive mindset, developing a strategy and digital adoption plan often comes naturally to them.
Effective digital leaders can detect potential threats.
While making decisions, they maintain a clear understanding of the future of the industry and never consider industry trends to be static or unchanging.
Seeking opportunities to create new value: Do not see digital as the ultimate goal
Successful digital leaders understand that digital is a means,
not an end and that blind digital initiatives will not necessarily create new value and may even be counterproductive.
The function of digital technology tools is to change the way work is done,
or to improve a business’s products and services – extending the life cycle of a product, adding digital functionality, or creating a commodity service.
Before adopting digital tools, think about the underlying logic of a product or service value proposition.
Consider how digital products can drive customer-centric operating models, expand market share, and increase business revenue.
Leverage digital to power your value propositions such as on-demand services, hyper-personalization, dynamic pricing, and real-time applications.
Focus on Technology-Driven Opportunities: Love Technology
A successful leader has a deep understanding of the technologies that underpin the business.
It’s hard to get value from technology if you don’t understand what it can and can’t do.
CIOs need to foster a technology-friendly work environment that enables employees to engage in participatory, collaborative, and personalized learning.
Leaders should remain enthusiastic about technology and see technology as an important way to maintain innovation and market position in the fierce business competition
The COVID-19 pandemic has accelerated the adoption of digital technologies in nearly every industry sector.
In fact, investment in digital transformation is expected to exceed $1.8 trillion by the end of 2022 and $2.8 trillion by 2025.
Here are six areas of innovation that have been or will be impacted how we manage our business and how we do it in this increasingly digital environment:
1. Cybersecurity.
As businesses grapple with the risks and vulnerabilities posed by digital transformation, cybersecurity efforts will also need to continue to advance to keep pace with evolving and increasingly sophisticated cybercrime methods.
Artificial intelligence, machine learning, and robotic process automation can help detect malware and ransomware.
For example, when advanced algorithms are used in conjunction with automated tools, security can be significantly improved.
2.5G wireless technology.
5G is a prerequisite for our continued digital transformation.
It is estimated that in 2022, global 5G smartphone orders will reach 1 billion units, and by 2026, they will exceed 3 billion units.
5G can support 10-20 times faster data transfer speeds, significantly improve device connectivity, greatly improve user experience, and have virtually no time lag.
5G is also critical to supporting the continued growth of augmented and virtual reality (AR/VR), two technologies destined to change the way we work, live, and play.
An example of the value 5G technology brings is the fact that manufacturing companies are using the technology to create “smarter” factories that use sensors, mobile robots, advanced automatic tracking capabilities,
and wireless connectivity of equipment to increase productivity, precision performance, and cost efficiency.
As another example, in the logistics and transportation industry, containers, vehicles, cranes and ships can be seamlessly connected based on 5G technology to provide greater transparency throughout the entire end-to-end transportation and delivery process.
In the retail industry, smart screens and omnichannel customer shopping experiences will be greatly enhanced by 5G technology.
3. Artificial intelligence.
AI has become an integral part of the aforementioned cybersecurity space,
with an even broader footprint and equally profound impact in other business areas,
with a market expected to exceed $126 billion by 2025. At a high level, AI-based business tools enable companies to forecast more accurately,
which can help improve operations, forecast sales and revenue more accurately, and capture market trends faster.
4. Natural language processing.
Natural language processing, which focuses on the interaction between computer and human language, is one of the most interesting and widely used artificial intelligence techniques (Siri and Alexa’s virtual assistants are well-known examples).
However, natural language processing is still in its formative stages, and as it continues to evolve, businesses will create devices that can interact with humans and will disrupt many aspects of our work and personal lives in ways that many may not currently imagine.
5. Metaverse.
In virtual worlds where people can work, play and interact through immersive online experiences,
this virtual environment will continue to gain popularity and sophistication.
AR/VR gaming and digital markets including live shopping, virtual art galleries, and digital real estate (the latter alone is a market of over $500 million in 2021 and is expected to double to over $1 billion in 2022) will continue to grow and will merge with social networks in the coming years.
Artificial intelligence and machine learning technologies will once again help the Metaverse move forward.
6. Web3. In part as a new name for blockchain technology, Web3 can bring several benefits to businesses and individuals, including full ownership of data,
allowing users to access data across multiple applications, and full encryption of data brings higher Security and Transparency.
A Web3-based decentralized system also benefits creators and artists, who can leverage non-fungible tokens (NFTs) to market their work for reasonable income, shared ownership,
and autonomy. As the “creator” economy and Web3 continue to grow together, more people will be able to create and create.
As digital transformation continues to disrupt the way we work,
it is imperative that businesses keep learning about new technologies in order to know how to adapt and when to adapt,
as it has significant implications for their organizational roadmap and vision.
Among these technologies, advanced cybersecurity solutions are already a “must-have” to ensure that customer data is fully protected.
Other technologies, such as 5G and AI/machine learning, are also becoming more widely used and may soon be an area of innovation that companies must integrate in order to significantly improve from a competition and customer satisfaction perspective.
While it is widely hoped that this pandemic will one day be a thing of the past,
the impact of the digital transformation fueled by the pandemic will certainly be with us and will continue to inspire us,
providing momentum and innovation for the future.