One quick question: What force will drive the future of your business?
If you answered ‘Technology,’ like I’m sure most people would, you’d be almost right. Almost- but not quite.
The reality is that the future of your business is driven by people, or more specifically, the people who call the shots – meaning the forward-thinking business leaders, those gifted people inhabiting the heady upper realms of executive management. Why? Because, they understand the BIG WHY. The BIG WHY- aka the GREAT PURPOSE- is the reason or reasons that drive the adoption of newer technologies, like ML, AI and IoT. The BIG WHY is the decision-making compass forward-thinkers use to steer clear of sustainability risks.
Is Investing in Newer Technologies enough?
Technology per se isn’t going to bring about transformational change for any company. In my own experience working with mid-sized and large organizations, I see many companies embrace newer technologies to make their business processes more effective and efficient, but seldom do those companies decide to make optimum use of these technologies. It’s sad, but true.
My point is this: Investing in newer technologies is just not enough to drive transformational change. Implementing these technologies in pockets is just not enough to ignite transformational change. What is required is someone at the top with the courage to make the hard decision to leverage the technology to its fullest.
Expecting end-users or mid-management to push or pull top management into making this decision is both an unrealistic expectation at best and an invitation to failure at its very worst. Leveraging newer technologies to their fullest and driving their adoption throughout the enterprise must occur through a top-down approach.
For the benefit of all concerned, the business leaders at the corporate helm must accept the responsibility to act as change agents. No one else can stand in that gap, no one else can accept that responsibility and really, no one else should. Making these types of crucial decisions is why those people are at the top.
So my question to them is this: Are you ready to lead your business into what comes next?
In an article published in a recent edition of Digitalist Magazine, Ursula Ringham, the Head of Global Influencer Marketing at SAP, gave a sneak-peak into “Tales from Tech Unknown: Extraordinary Stories from Tech Leaders.” This eBook features seven tech leaders sharing the life experiences that helped shape their careers.
Let’s take a quick look at what inspires and motivates some of the brightest minds in tech:
Here are the tech minds:
- Tamara McCleary, CEO of Thulium, shares the big tech dream that motivates her to keep innovating.
- Gary Mintchell, Founder of the Manufacturing Connection & industry-leading analyst, explains how supply chain logistics affects the food we eat every day.
- Amber Case, Research Fellow at the Institute for the Future and renowned researcher, speaker and author, illustrates why philosophy and anthropology are crucial parts of building new tech.
- Timo Elliott, Global Innovation Evangelist at SAP, tracks the history of human innovation from the plow to the supercomputer.
- Kirk Borne, Principal Data Scientist at Booz Allen Hamilton, shares his lightning-rod moment with data mining and machine learning.
- Brian Solis, Futurist and Principal Analyst at Altimeter, talks frankly about his struggle with digital distraction and how businesses can cope.
- Tammy Powlas, Senior Business Analyst & Mentor at SAP, shares how giving back to the developer community helps further her education.
These examples — and others — teach us that the future of business depends on how business leaders choose to use the technology at their disposal. They can choose to use some of its capabilities and likely fall behind the competition, or they can choose to use its optimal capabilities and either keep pace or stay ahead. Let these Tales from Tech Unknown inspire you as you lead your business into what comes next.
It’s beyond any doubt that newer technologies disrupt business every 4-5 years. What we all see today as cutting-edge is going to be obsolete within the next few years.
When it comes to taking on the challenges of this ever-changing technological world, just how far are you prepared to take you and your business? The future success of your business hangs on your response to this question.
Let me know your views. I look forward to them.
By: Venkat Nanduri
