Digital technologies can significantly improve the performance of businesses and even give birth to entirely new operating models that shake up sectors (the newspaper and recording industries are cases in point). Now, more than ever, there is increasing pressure to:
- Harness the power of data and artificial intelligence
- Modernize core technology and capitalize on new technology
- Automate and optimize operations
- Create outstanding digital experiences for customers
- Turbo-charge sales and marketing using digital concepts and technologies
- Build a digital culture
It takes more than just getting the right technologies and processes in place. If a key ingredient is people, then having the right people in the right roles is the winning formula to be successful at digital transformations. This is especially true for people in positions of leadership.
85% of jobs are expected to be reinvented by 2030, and many positions currently being added by organizations to fuel their transformations are new and the organization has never before hired. The skill gaps continues to widen, especially with it comes to digital and analytics. The failure rate of Analytics and AI projects is 85%, 40% of all new managers and executives fail within the first 18 months, 60% of work teams fail to accomplish their goals, and 66% of hiring managers regret their interview-based hiring decisions.