HOW TO TURN VISION INTO ACTION The corporate world is facing a dramatic shift as generative artificial intelligence hits global adoption, with platforms such as ChatGPT, Midjourney, Copy.ai and numerous others taking centre stage, augmenting the possibility of optimising and accelerating the way companies operate. Kamales Lardi provides her take on the human side of digital business transformation C hatGPT currently has more than 100 million users and generates 1.8 billion visitors per month. This user and tra c growth was achieved in a record-breaking three-month period between February and April this year. The apparent growth and potential capabilities of generative AI platforms has also triggered companies across industries to review their workforce and skills requirements, including replacing human resources with AI solutions. Amidst the rapidly developing technology landscape, digital
delay appropriate responses from organisations. A digital business transformation framework closely aligned with corporate strategy will require dynamic planning frequencies to evaluate potential trends and disruptors, as well as generating incremental funding to achieve intended business outcomes. A good digital business transformation strategy framework helps businesses think about how such an organisation-wide change will impact their goals, providing an essential blueprint to identify and develop the right transformation initiatives. This framework must also be flexible, allowing for customised solutions that meet the specific needs of each organisation. As a result, strategic outcomes and priorities may vary depending on individual objectives. Digital business transformation may be triggered at any level or function in the organisation, such as for instance digital marketing, product digitisation or business model innovation. However, in order to achieve sustained impact, transformation has to gradually occur across
transformation has become an imperative requirement for companies to stay competitive and thrive in the digital economy. Companies that embrace digital transformation have the opportunity to unlock new sources of value, enhance customer experiences and streamline their operations. However, with breakthrough solutions emerging almost on a daily basis, companies must avoid getting caught up in the hype. The digital economy has brought about a significant paradigm shift in the traditional business landscape, revolutionising the way companies operate. But it takes more than just implementing new technology solutions. True success lies in a comprehensive organisational transformation that goes beyond quick fixes. Instead of knee-jerk reactions that call for short-term solutions, digital business transformation centres on leveraging technology to understand the evolving needs of digitally connected consumers, ie their behaviours, preferences and motivations, as well as delivering customer experiences that exceed expectations. Taking a dynamic approach Digital business transformation requires a more dynamic approach to manage the rapid development of disruptive factors such as emerging technologies, a competitive business outlook and consumer behaviours. These factors are notorious for having been known to shift within a narrow timeframe, sometimes months or even weeks. An annual strategic planning cycle will fall short of such demands and
36 | Ambition SEPTEMBER 2023
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