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Digital transformation isn’t a luxury, it’s a necessity

 

Innovation for innovation’s sake is not enough. K Ananth Krishnan, CTO, Tata Consultancy Services, discusses how companies can enact digital transformation more effectively. Digital technologies such as AI, machine learning, IoT and cloud computing have the potential to transform the way businesses structure themselves, develop new products and highly customize customer experiences. This potential for change is widely known as ‘digital transformation’, but what does that really mean? Digital transformation is complex, and while many business leaders have a clear idea of how they want their businesses to change, they are far less clear about the steps needed to get them to their destination.

Krishnan elaborates on how companies can drive digital transformation more effectively, and explains the four branches, or ‘behaviors’, of successful digital transformation. These four behaviors are: driving mass personalization, creating exponential value, leveraging ecosystems, and embracing risk.

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