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Digitaltransformation is a broad term that is difficult to define precisely. Think of digitaltransformation as a way to future-proof a business. But, you can consider it a change in the business activities to prioritize your business’s digital presence. Steps To Driving A Successful DigitalTransformation.
BNP Paribas Global Head of AI and DigitalRisk Analytics Adri Purkayastha talks to us about how COVID-19 is accelerating the firm’s digitaltransformation and the future of risk analytics. You’ve been at BNP Paribas for roughly 18 months.
With supply chain issues and the impending recession, digitaltransformation remains a pressing strategic imperative. However, key digitaltransformation milestones remain out of reach for far too many teams. To make real strides in each of these areas, Value Stream Management (VSM) has emerged as an urgent demand.
million —and organizations are constantly at risk of cyber-attacks and malicious actors. In order to protect your business from these threats, it’s essential to understand what digitaltransformation entails and how you can safeguard your company from cyber risks. What is cyber risk?
As CIOs prepare for the next wave of digitaltransformation, they must demonstrate shorter-term business impacts from technology investments and achieve larger innovation goals that evolve the organization’s business model.
Digitaltransformation programs promise a wealth of advantages, but unforeseen challenges can cancel out measurable value. Careful planning and holistically evaluating your system integration (SI) partner proposals are critical steps in your transformation initiative. What primary risks lead to value erosion?
CIOs perennially deal with technical debts risks, costs, and complexities. While the impacts of legacy systems can be quantified, technical debt is also often embedded in subtler ways across the IT ecosystem, making it hard to account for the full list of issues and risks.
When you’re guiding a large enterprise on a complex, long-term digitaltransformation journey, it can be very difficult to know which near-term steps will get you most rapidly to your desired destination. This is why Value Stream Management (VSM) has become an essential approach. DigitalTransformation
The analyst reports tell CIOs that generative AI should occupy the top slot on their digitaltransformation priorities in the coming year. I wrote in Driving Digital , “Digitaltransformation is not just about technology and its implementation. Luckily, many are expanding budgets to do so. “94%
The past decade in IT has been all about digitaltransformation. Transformations once envisioned to be a two- or three-year journey, to catch up or get ahead, have become a continuous journey with no end in sight. The philosophy behind adaptive systems is more about innovation than riskmanagement.
Once a vanguard business strategy, digitaltransformation has become a perennial objective for business survival. Most CEOs (72%) continue to prioritize digital investments, according to the 2022 CEO Outlook report from KPMG, in part due to concerns about emerging and disruptive technology, a top three risk to organizational growth.
Interestingly, developing existing talent is the third most cited focus for digitaltransformation — a sign that leaders recognize the importance of preparing employees to work with gen AI. Digitaltransformation harder than ever Despite that emphasis on making the most of AI, banks continue to struggle with digitaltransformation.
Despite AI’s potential to transform businesses, many senior technology leaders find themselves wrestling with unpredictable expenses, uneven productivity gains, and growing risks as AI adoption scales, Gartner said. This creates new risks around data privacy, security, and consistency, making it harder for CIOs to maintain control. “On
These challenges grow even more pronounced in tracking progress across intricate digitaltransformation initiatives. Ultimately, these businesses run the increasing risk of falling behind in their markets. Conclusion Trust stands as a cornerstone in the digitaltransformation journey. DigitalTransformation
Despite the best of intentions, CIOs and their organizations often struggle to deliver business outcomes from digitaltransformation strategies. And while KPMG reports that 72% of CEOs have aggressive digital investment strategies, McKinsey details a harsh reality that 70% of transformations fail.
Organizations that continued full speed ahead with their digitaltransformation initiatives during the COVID-19 pandemic are able to ruminate on what went right and what they would have done differently, with the benefit of hindsight. But there are lesser-known, less obvious attributes of a successful digital program.
So if you are seeking to lead transformational change at your organization, it’s worth knowing the 10 most common reasons why digitaltransformation fails and what you as an IT leader can learn from those failures. Resistance to change Change is hard, and digitaltransformation requires a lot of it.
In a recent interview with Jyoti Lalchandani, IDCs Group Vice President and Regional Managing Director for the Middle East, Turkey, and Africa (META), we explore the key trends and technologies that will shape the future of the Middle East and the challenges organizations will face in their digitaltransformation journey.
Karen Higgins-Carter, previously CIO of Webster Bank, joined Gilbane just over a year ago as CDIO with the responsibility of digitallytransforming this 153-year-old business. We’re in an industry that is ripe for transformation,” says Higgins-Carter, pictured above, center. Hire the right architects.
Value Stream Management (VSM) has become increasingly prevalent as the best operational model for those few organizations that have successfully transformed. To learn more, be sure to read our eBook, 5 Steps to Value Stream Management. DigitalTransformation Align with development.
As a digitaltransformation leader and former CIO, I carry a healthy dose of paranoia. Call it survival instincts: Risks that can disrupt an organization from staying true to its mission and accomplishing its goals must constantly be surfaced, assessed, and either mitigated or managed.
Although enterprises acknowledge the importance of digitaltransformation in the current environment of flux, few succeed in their digital initiatives. A major reason so many digitaltransformation programs fail is that enterprises view them as technology problems rather than the organizational challenges they truly are.
Resistance to digitaltransformation comes in many forms. You’ll need to persuade employees and middle management to leave their comfort zones and change how they operate. Developers sometimes have this idea that management isn’t necessary, or they have disdain for the nontechnical side of things.
Digitaltransformation and climate change initiatives have similarities despite having different foci. Digitaltransformation focuses on integrating digital technologies into all business areas, fundamentally changing how the organisation operates and delivers value to customers.
Migration to the cloud, data valorization, and development of e-commerce are areas where rubber sole manufacturer Vibram has transformed its business as it opens up to new markets. It’s a change fundamentally based on digital capabilities. Snowflake has also made data management much easier for us,” Paleari adds. “We
One of the world’s largest risk advisors and insurance brokers launched a digitaltransformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age.
Zulfi Jeevanjee, EVP and CIO, believes the best way to build and align next-generation business processes and modern IT platforms is to build anew, and so he is taking a cloud-first approach to digitaltransformation, dumping out all legacy infrastructure along the way. To fuel its transformation, the Northbrook, Ill.
At the helm of the Center’s technological evolution is Dr. Fahad Almoqhim, Chief Information Officer (CIO), who has been instrumental in leading the center’s digitaltransformation. Dr. Almoqhim has spearheaded several transformative initiatives during his tenure. “We
Moreover, enterprises are more inclined these days to focus on shorter horizons rather than big-bang initiatives that take years to provide returns, says Sunil Mehta, CIO at business and management consultancy BDO India. Consequently, the CIO should build the portfolio of digitaltransformation initiatives around these areas.
PayPal, like many other large companies, suffers attacks every second, and we can only manage this volume of threats through an architecture with reinforced security layers and solid technology, such as AI.” User data is also housed in this layer, including profile, behavior, transactions, and risk. Stability is another objective.
Theres also the risk of over-reliance on the new systems. As AI becomes more prevalent across organizations, theres a growing need for a better understanding of data dependencies and asset management. The key with AI will be striking the right balanceleveraging its strengths while mitigating the risks and limitations.
One of the world’s largest risk advisors and insurance brokers launched a digitaltransformation five years ago to better enable its clients to navigate the political, social, and economic waves rising in the digital information age.
But only eight percent of those buyers are purchasing IT management software. This presents a serious gap in overall capabilities when it comes to ensuring organizations are adequately equipped to manage security operations, particularly within a mainframe setting. Mainframes are under more pressure than ever before.
We know upskilling and reskilling are critical to digitaltransformation and thriving in the future of work. Yet, despite the investments in IT training, we have a chronic skills shortage that’s causing, on average, digitaltransformations to fall behind by five months.
One of the sessions I sat in at UKISUG Connect 2024 covered a real-world example of data management using a solution from Bluestonex Consulting , based on the SAP Business Technology Platform (SAP BTP). Impact of Errors : Erroneous data posed immediate risks to operations and long-term damage to customer trust.
Adding smarter AI also adds risk, of course. “At The big risk is you take the humans out of the loop when you let these into the wild.” When it comes to security, though, agentic AI is a double-edged sword with too many risks to count, he says. “We That means the projects are evaluated for the amount of risk they involve.
A lot of the current focus with AI projects is to cut costs and drive efficiencies, but organizations also need to think about longer-term innovation, says Taylor Brown, co-founder and COO of Fivetran, vendor of a data management platform. If these risks are not addressed, the business is at a disadvantage,” she says.
One of them is Katherine Wetmur, CIO for cyber, data, risk, and resilience at Morgan Stanley. Wetmur says Morgan Stanley has been using modern data science, AI, and machine learning for years to analyze data and activity, pinpoint risks, and initiate mitigation, noting that teams at the firm have earned patents in this space.
IT managers are often responsible for not just overseeing an organization’s IT infrastructure but its IT teams as well. To succeed, you need to understand the fundamentals of security, data storage, hardware, software, networking, and IT management frameworks — and how they all work together to deliver business value.
The evolution from basic task automation platforms to advanced task orchestration and management marks a milestone in the journey toward Intelligent Automation. As enterprises scale their automation efforts, the demand for robust task orchestration and management solutions becomes critical.
Is your data stuck in different silos, making it difficult to access and manage ? When you think about all these questions together… this is what is referred to more broadly as data management (the ability to store, access, move, and protect your data across its lifecycle as you unlock value from it).
A new area of digitaltransformation is under way in IT, say IT executives charged with unifying their tech strategy in 2025. CIOs and other executives identified familiar IT roles that will need to evolve to stay relevant, including traditional software development, network and database management, and application testing.
To drive gen-AI top-line revenue impacts, CIOs should review their data governance priorities and consider proactive data governance and dataops practices that go beyond riskmanagement objectives. In IT service management, AI-driven knowledge graphs provide issue diagnosis and proactive resolution, decreasing downtime.
Moreover, undertaking digitaltransformation and technology modernization programs without an architect can lead to delays, technical debt , higher costs, and security vulnerabilities. Mounting technical debt and extending the life of legacy systems are key risks CIOs should be paranoid about.
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