How can technology make transformation more human?
A proactive, empathetic, human-centered technology strategy is needed to equip organizations with a stronger competitive edge.
- The promise of new technologies is about more than efficiencies. It’s about its ability to augment human intelligence by helping us make better choices.
- To maintain trusted relationships, cybersecurity and privacy protection must be embedded into every aspect of the transformation journey.
- Teaming with others is the only way to safely harness new technology to its full potential to drive human-centered transformation and innovate at scale.
New technologies emerge on the market on a near-daily basis. In many cases they present opportunities for organizations to reinvent their business models and drive significant efficiency into their operating models. Companies that are more prepared and adept at leveraging these technologies can seize a significant competitive advantage.
Achieving this advantage and outperforming one’s peers requires organizations to transform themselves in ways that put humans at the center of any organizational shift, deploy technology at speed and innovate at scale through ecosystem collaboration.
In the EY Tech Horizon survey, which we conducted shortly before the COVID-19 crisis, the results reinforced that almost every company was on a journey to digitally transform its business. That said, only 4% said transformation was fully embedded and optimized across their operations. As organizations are living and learning through the ongoing pandemic, they are seeing every day the urgent need to accelerate their transformation.
To effectively address this need, companies will need a proactive, empathetic, human-centered technology strategy built around adapting operations and building resilience, which can equip the enterprise with a stronger competitive edge. Companies also will need to use data to improve agility and power innovation, accelerate artificial intelligence (AI) to drive growth, and unlock new opportunities through ecosystems and partnerships. Yet amid these opportunities, companies will have to prepare for the exponential rise in cybersecurity risks.