135. 2023 Prediction 3: Digital Transformation gets a human face

Digital Transformation is going to continue being a huge force in business, but the way it's being done is changing. People, not tech tools, are the new priority.

Listen to this episode to learn how to make the most of this opportunity.

Learning notes from this episode:

• Global digital transformation spending is forecast to reach $3.4 trillion by 2026, from around 1.6 trillion today, according to Statista,
  • This high growth means opportunity for corporate leaders, entrepreneurs and investors.
• When companies first attempted digital transformation efforts, the emphasis was on implementing new tools.
  • These transformation efforts were usually led by the Chief Technology Officer or Chief Innovation Officer, with the rest of the organisation often able to ignore this change.
• While some of these efforts were successful, a lot of money was wasted. McKinsey estimates that 70% of digital transformation programmes fail to meet their goals.
• This is why, digital transformation efforts in 2023 and beyond will focus on putting people first, and tools second.
  • By first educating the entire workforce and updating traditional business thinking to digital mindsets, organisations will be able to reap the benefits of the tools they implement.
• Because Digital Transformation 2.0 is people first, tools second, there is demand for a new type of employee: a person who speaks tech and speaks business.
  • People with this dual business and tech skillset of are the people who are going to lead in the Digital Age.

Apply for the

Plan your year like a Digital Leader workshop

5 February 2023, 11 am EST / 4 pm GMT

Resources mentioned in this episode:

• Episode130. Lessons for Digital Leaders from the London Stock Exchange - Microsoft deal
• Episode 96. How to innovate at a corporate: lessons from Apple and Intel
• McKinsey: Perspectives on transformation
• Statista: Spending on digital transformation technologies and services worldwide

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