85 percent of banks have digital transformation implementation as a priority for 2018, driven by the need to find efficient ways to address challenges in the industry such as cost pressures, eroding top lines, uncertainty and instability in the geopolitical environment and decreasing customer satisfaction. But strategy execution is a challenge.
via Everest Group
“While we remain bullish on the overall public cloud opportunity, we see an increasing number of companies confronting the realities and challenges of migrating workloads and re-platforming apps,” the Goldman Sachs report said.
via CIO Journal
In a continually changing competitive environment, leaders constantly face new challenges and must adapt both the organization and their leadership style to this new environment. Successfully meeting these challenges requires new skills and capabilities that leaders have not needed in the past.
via MIT Sloan
Only 7 to 18 percent of organizations possess the ‘digital dexterity’ to adopt New Ways of Work (NWOW) solutions — such as virtual collaboration and a mobile workplace. Furthermore, it’s already apparent that forcing employees to accept rigid and inflexible workplace mandates are a recipe for poor performance.
IDC also raised its forecast for total spending on cloud IT infrastructure in 2018 to $57.2 billion with year-over-year growth of 21.3 percent. Let’s consider the key trends that are driving this phenomena. What really matters most, going forward?
“While they are running digital projects and making progress, they are not making the headway required to achieve the larger goal — to digitally transform the overall organization. In fact, 73% of CIOs say it’s challenging to find the right balance between business innovation and operational excellence.”
The Fourth Industrial Revolution is seen as a new stage of human development, one defined by “a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres“, as well as disrupting virtually every industry.