The Next Wave of Digital Transformation -Part 2

Ripesh Damania 27.11.2018

As businesses and working environments continue to evolve in this ever-changing landscape, digital transformation is one of the most hotly discussed topics at an executive level and is anticipated to underpin future success within many organisations.

Morgan McKinley is dedicated to discussing on trend market topics and in doing so, bring together audiences from an array of different backgrounds and experiences. The purpose of this is to exchange key insights, discuss barriers to change and most importantly, brainstorm potential innovative solutions. 

We recently held an event “The Next Wave of Digital Transformation” at the Establishment Bar in Sydney CBD in which 140 business leaders attended from across a range of organisations. This gave us the opportunity to hear some thought-provoking ideas from our panellists. Some of the different topics that were discussed included; what will our digital landscape look like in the future and how do we prepare for this? We had the pleasure of introducing a broad range of speakers including:

  • Kimberly Chang – Partner at Deloitte Digital
  • Matt Symons – Director at Red Marker 
  • Alex Kok – Head of Digital Delivery at Boral

We feel this release brings a sense of awareness and insight into what businesses are currently doing, what they’re planning on doing, the strategy behind it, and what the potential outcome may be. A few choice thoughts from our panellists included “it’s ok to make mistakes and to fail, it’s about how we learn from this and what the key takeaways are which is important” and “[the importance of] being led by a leadership team who is courageous and bold enough to foster an environment that can mature through digital transformation.” 

From the discussion, we had some intriguing insights shared for the following questions;

What does the next wave of digital transformation or evolutions look like?

One of the panel members insisted that it is imperative we use different tools to invest in our staff in order to attract, hire and retain. Another idea encouraged companies to adopt a “start-up” mentality where there is an agile environment and decisions are executed in a timely manner. The final idea suggested investing in an ecosystem where innovation is at the forefront and, ultimately, allowing an open environment where companies can collaborate to meet the needs of the customer. On the subject of 'The Customer', it is inevitable that companies are focusing their attention on being “customer-centric” and utilising operations in the most effective way possible; this will drive investment, which in turn will allow for a better end-customer experience.

What do we think the game-changer will be in regards to digital technology?

Continued emergence and investment around AI (Artificial intelligence) tools will hopefully develop a useful hypothesis that will, again, produce customer solutions in a timely manner. Hypotheticals from the discussion included: should we use conversational AI with a voice as a channel? In years to come, will the whole customer channel transform into a space where technology apps are no longer the interface?

Just last week, China’s state media agency “Xinhua” launched the World’s First AI News Anchor which, incredibly enough, can act like a human news anchor. The final point shared here was on the continuous evolvement of Industrial Revolution 4.0 and the importance of RPA (Robotic Process Automation) in future business plans.

If you have any further questions on this event or have an interest in what Morgan McKinley can offer you as an individual/company, please reach out to me on +61 (0)2 8986 3141 or at jodonnell@morganmckinley.com.au

Ripesh Damania's picture
Director | Accounting & Finance - Commerce & Industry, IT & Analytics
rdamania@morganmckinley.com.au