Digital transformation, digital disruption, technology management, strategy, innovation, and technology are very hot topics that executives can’t ignore anymore -- whatever their field. Embracing the exciting world of the smart workplace is an essential challenge for established leaders who wish to drive their organizations forward.
Artificial intelligence (AI) is already changing the way that business is done. From electronic grocery store clerks (hardly R2D2!) to advanced factory networks that know how much to build, how to build it, and when to order more parts, automation ranges from the mundane to the revolutionary. So does IoT and Blockchain. Let's take a look at how these new technologies are changing business, and why business leaders must know about them.
Digital Transformation will impact everybody, including executives
CEOs at the top of the chain are turning this into an opportunity to change the way they work. Automation redefines and redistributes human resources so that employees can focus on their uniquely human strengths: talent and intellect. Repetitive tasks, including up to 20% of the average CEO’s workload, can be passed on to the robot in the corner.
And it’s not just the ground level realm of store checkouts and factory floors. Algorithms that can gather, verify, and consolidate data – and learn from what they find – are finding their place in the financial sector. These bots can process transactions, spot errors or patterns, and monitor compliance.
Those topics will be on their shoulders
All but the smallest of businesses will have their own digital leaders on board to establish, action, and streamline these automated processes. But home business entrepreneurs and corporate CEOs alike need to understand how the systems work and identify how they can use such systems to disrupt their respective industries and power their daily operations.
“With the 21st-century digital transformation, the adoption cycle has inverted,” writes Thomas Siebel, chairman and CEO of C3 IoT. “Visionary CEOs, individually, are the engines of massive change that is unprecedented in the history of information technology -- possibly unprecedented in the history of commerce.”
In short, a leader shouldn’t merely know what is happening in IT. He or she should understand what is possible.
A CEO who develops an intuitive understanding of what they might achieve through digital transformation is uniquely positioned to put their imagination to work strategizing a brave new future for their business.
Leaders need to gain trust from IT
If this is a moment of massive change, of course it comes with an element of doubt. Management is worried about costs and re-training. Employees are concerned for their jobs. The shareholders are nervous of the future.
To do right by these interested parties, a CxO needs vision. And to gain this vision, the leader needs to have confidence in themselves. They can discover this through a thorough knowledge of the factors at play, and an open dialogue about where technology is taking the business -- and what this means for all involved.
41 North Business School
41 North Business School attends to the needs of executives and leaders who want to be ready for digitalization, in partnership with Grenoble Ecole de Management and ESMT Berlin, both triple-accredited schools by AACSB, EQUIS, and AMBA, focusing on innovation and technology.
Set in the dynamic city of Istanbul -- historically a bridge between East and West and acting as a learning hub in-between -- 41 North Business School offers academic and executive education programs adapted to business leaders’ needs: an Executive MBA, a DBA, and a Digital Excellence Post Graduate Certificate.
The Executive MBA is strictly part-time, with 3-4 live classes per month (two of which are on weekends) and an online hybrid learning system to enable distance study and networking.
Istanbul’s first stand-alone business school is dedicated to improving business practices in the Digital Transformation Age, focusing in innovation, technology, and strategy. Its purpose is to transform executives to leaders, pushing them to disrupt their businesses.
Executives with at least seven years of experience in decision-making positions will make the most of the school and participants will have the ability to continue their work in the meantime.
Some will look to their executive education program as a means to compete for a higher position within or outside of their present company. Others will disrupt their business, innovate, and redirect their business strategy.
Meanwhile, in the physical realm, Turkish Airlines flights run from East Mediterranean, the Middle East, and Central Asian countries. Turkey does not require a visa from many of these places, and for those who do need one, the e-visa application system is fast and straightforward.
Smart business practices begin with smart decisions. Are you ready to transform?