In this article, Dr. Satya Ramaswamy, Vice President and Global Head, Digital Enterprise, TCS, discusses his perspective on the need to understand and harness the power of digital technology, which is manifesting itself in seismic changes to organizations' fortunes.
In the Tech Science article featured in a leading Japanese publication ‘ Nikkei Asian Review (NAR)’, Dr. Satya Ramaswamy, Vice President and Global Head, Digital Enterprise, TCS, says that nearly half of the Fortune 500 companies for the year 2000 are no longer listed on the biggest U.S. businesses, implying to the importance to understand and harness the power of digital technology. He says it is a ‘sink or swim’ moment.
Satya also highlights the gaps in the leadership in the digital world. He states, “Although most businesses have senior executives to lead information technology strategy, there is nevertheless a gap in digital leadership”. Newly established companies have pulled ahead due to their usage of digital technology to drive massive change, transform markets and reach new customers.
He also explains the challenges faced by organization through ‘digital five forces’. “This concept groups the impact of the cloud, mobility, big data, social media, and artificial intelligence and robotics - all of which are having a deep impact on how organizations operate”. Like all change, digital revolution can be unsettling but the good news is that the upside is huge.
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