Automation. Artificial intelligence. The internet of things. Blockchain. 5G. The list of new technologies that could transform — or already are transforming — your business feels endless. And with these technologies, a new corporate narrative is emerging among leaders.
It’s a story of digital reinvention, says IBM senior vice president Mark Foster, this week’s guest. Corporate leaders have, thus far, taken what Foster calls an “outside-in” approach to transformation, as they’ve tried to leverage the power of the internet and other connected technologies to engage with customers in new ways. This may be a perfectly fine start. But it’s important to recognize that it is, indeed, only a start.
There is a huge opportunity for leaders to seize new technologies to fundamentally redefine strategic and competitive advantage. At the same time, Foster cautions, leaders could just as likely become “swamped by the chaos of a thousand shiny objects” as each part of the organization tries to imagine what it could do with emerging technologies.
The goal is to find coherence in the digital chaos. And that, ironically, requires taking on an even more ambitious transformation mandate. Foster says the path forward for companies is not only to allow intelligent technologies to change your business from the outside in,