Agility, resilience, and the ability to question oneself have become the qualities of a business leader in 2020. Covid-19 has shaken the world to its core and really tested the patience, determination, and mental health of business owners across the world.
Changes are happening now. Innovation and technology are not, however, an end to the problem but they are a contributing factor in ensuring businesses can continue running smoothly. Upgrades, new systems, and new strategies are going to be key.
Although there seems to have been some awareness of the need to improve innovation processes, only 40 to 60% implement artificial intelligence in their company in a limited way. This is mostly due to the costs. What are the best practices for deploying innovation and technology within the company?
First of all, there is a business vision, a master plan, intended to orient and guide the intended strategies. Innovation must serve an overall strategic objective, with detailed information relating to it. Technological innovation is a strategic component which needs to be managed by a skilled team and also, excellent equipment.
If computers, applications, and phone lines are outdated, then upgrades are the first necessary step. With 3cx phones, you can look at the next-generation businesses. Using the Cloud can store unlimited information in a safe space. With the implementation of processes allowing us to collect, filter, structure, and evaluate in an objective way, we can achieve a sustainable future.
Change also leads to the creation of new positions and functions within the company, for example in the field of data and its analysis. You may want to hire some new talent to help you structure new plans and know how to use the new technologies in detail.
It allows you to diversify as well as broaden your horizons, but beware this may come at a cost. A culture of innovation surely can retain talent, but if you want to really ensure the business is on the right tracks then you will need the wage packet to match.
It is important to note that the companies that have put this in place already, have seen a great transformational change and have often transcended their goals. Companies such as DHL and Tesla already have diversified and already use robotics to help them with their services. It also allows you to explore the possibilities of green energy and becoming a more eco-conscious business.
A journey, not a destination…
Digital transformation is a journey, not an actual destination. The changes in businesses over the past year have been so profound that they are almost mind-blowing. They have changed the DNA of many companies, making them stronger and opening up real prospects for the future.
The digital future is coming and it’s likely all tied into how we consume our products and how we find the products and services that we need. Ultimately, they also change the values and corporate culture to implement more agility and evolution in a complex and ever-changing environment. The future is now.