Digital revolution and the surge of the 'superjob'

Today’s developing business prospect puts management under consistent pressure to innovate. This has made the digital revolution top preference for businesses. For some, digital revolution exertions are yielding decisive results. However, many entities are still striving to garner the advantage of digital transformation, as becoming a digital enterprise is not a small affair. It requires inclusive, fundamental change.

The true digital revolution needs substantially more than implementing a new website or mobile strategy. It calls for executing across a vast programme of digital actions, or “digital fulcrum”: embracing flexible, protected IT infrastructure; proficiency in  the use of data; managing and engaging with an ecosystem of technology partners; enforcing intelligent, programmed workflows; training sessions to aim on digital competence and making prudent use of flexible, contingent talent models to promptly access in-demand skills; delivering a smooth customer experience; and growing the organizations’ array of business models and revenue streams.

A recent study report by Deloitte on digital revolution cited the power of the digital pivot approach and found that business's that execute an expansive set of digital fulcrum were more likely to accomplish positive financial returns from their work.

The digital fulcrum needs shrewd investment in technology. But just as practically, they need investment in people. And a deep and determined digital transformation programme is much more likely to be successful if guided by strong leadership from the C-suite.

Here are a few studies on the role that technology, people and leadership play in the digital revolution.

Driving revolution through technology

One of the digital fulcrum listed above – enforcing intelligent, automatic workflows is getting a lot of attention because of the increasing power of artificial intelligence (AI) technologies. Today, a huge number of companies are experimenting with AI, and the early results are promising. According to Deloitte’s 2018 survey, around 82% of early adopters report a positive return on AI investments. 

Investments in AI are developing competitiveness, with 63% of surveyed executives saying AI actions are needed to help them match with their rival companies or even open a thin lead.

In spite of the hasty progress of AI technologies themselves, and the positive results some early adopters have accomplished, we are still in the early days of AI-supported revolution. Companies require to contend with a category of issues to take advantage of AI, from the understanding which applications can bring the considerable value to laying the technology and data infrastructure necessary to build AI applications, to managing the risks related with implementing AI – varying from new potential cyber exposure to privacy and ethics concerns. In inclusion to all of this, companies require to surmise with human suggestions of AI and automation technology.

Investing in people and machines

A survey by Deloitte’s Global Human Capital Trends, 41% of respondents are already investing in automation extensively, across various functions. AI is playing a role here. AI-powered automation can oust the need for humans to carry out routine work tasks and can enable workers to create more value by empowering them to produce better results and aim on higher-value tasks. It is up to businesses to observe and exploit the power of humans and machines working together. In spite of all the talk of artificial intelligence wiping out jobs, we believe the extreme value of AI will be fulfilled by using it not to eliminate work but rather to transform work.

Image: Deloitte

One way this is happening is by the surge of what we call “super job”. These are jobs that integrate technical skills with soft skills such as communication, service and association. And they generally bring together work and accountability from numerous traditional jobs, using technology to both enhance and expand the scope of the work performed. For example, imagine a completely new human resources role that might be called “employee experience architect”. The person having such a super job would take favor of technology to automate answering routine questions while concentrating mainly on the outcome of delivering an efficient workforce experience. In this job, the work includes more potential, greater productivity and, eventually, more significant experience for workers.

Making strong, visionary leadership

Strong leadership from the C-suite is important for conquering challenges associated with the digital revolution. The digital revolution needs administrative sponsorship and commitment, both to transmit the message that digital transformation is the first concern and to facilitate participation throughout the organization.

C-suite leaders can also help accomplish their digital goals by cultivating a “digital mindset” in themselves and their organizations, encouraging the practice of looking at old problems and methods through new eyes and approaching them in new ways. Encouraging experimentation and enabling and supporting people throughout the organization to challenge and enhancing upon best practice is important for success. According to the digital revolution study cited above, higher digital-maturity organizations are nearly four times more acceptable than low-maturity companies to firmly agree that their organization and incentives encourage smart risk-taking to invent and grow.

The digital revolution journey

It is a cliché to say that we are living in a time of exceptional change. What is less often noted is the part that business leaders must play in helping their organizations handling these unstable times. Shrewd investment in technology has never been more important. But the challenges of the digital age, or the age of Industry 4.0, needs much more than new tech. It needs organizations to embrace thorough change. And this must involve bringing people along on our digital revolution journey – a journey in which we must constantly reinvent ourselves and our organizations.