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New World Technologies

New World Technologies


2020 and Beyond

Errol S. van Engelen


New World Technologies: 2020 and Beyond

Copyright © Business Expert Press, LLC, 2019.

All rights reserved. No part of this publication may be reproduced,


stored in a retrieval system, or transmitted in any form or by any
means—electronic, mechanical, photocopy, recording, or any other
except for brief quotations, not to exceed 400 words, without the prior
permission of the publisher.

First published in 2019 by


Business Expert Press, LLC
222 East 46th Street, New York, NY 10017
www.businessexpertpress.com

ISBN-13: 978-1-94897-686-2 (paperback)


ISBN-13: 978-1-94897-687-9 (e-book)

Business Expert Press Big Data and Business Analytics Collection

Collection ISSN: 2333-6749 (print)


Collection ISSN: 2333-6757 (electronic)

Cover and interior design by Exeter Premedia Services Private Ltd.,


Chennai, India

First edition: 2019

10 9 8 7 6 5 4 3 2 1

Printed in the United States of America.


Abstract
In today’s high-pressured world, digital transformation is everywhere on
the agendas of corporate boards and has risen to the top of CEOs’ strate-
gic plans. Artificial intelligence, blockchain, 3D printing, the Internet of
Things, and drones are some of the emerging technologies that are already
transforming our world. In this fast changing domain—predicted by few
and now reality for all—how can companies transform today’s challenges
into tomorrow’s opportunities?
This book is targeted to help a broad audience such as students, pro-
fessionals, business and technology managers to transform an old-world
brick and mortar organization to a new-world digital leader. The author
addresses various questions including: What essential components does
digital transformation include, and how does it impact the enterprise?
How does convergence of emerging technologies benefit your orga-
nization? How can you start transformation and technology planning
projects?

Keywords
3D printing; artificial intelligence; augmented and virtual reality; block-
chain; digital transformation; drones; emerging technologies; Internet of
Things; robotics; technology planning
Contents
Preface��������������������������������������������������������������������������������������������������ix
Acknowledgments�����������������������������������������������������������������������������������xi

Chapter 1 Digital Transformation�����������������������������������������������������1


Chapter 2 Connectivity Technologies����������������������������������������������33
Chapter 3 Intelligence Technologies������������������������������������������������89
Chapter 4 Digital Transformation Planning�����������������������������������149

About the Author��������������������������������������������������������������������������������183


Index�������������������������������������������������������������������������������������������������185
Preface
This book is for everyone in Business and Technology, interested in Digital
Transformation and Emerging Technologies

When I started writing this book, many different ideas crossed my mind.
On one hand, it’s obvious that technology makes our life a lot easier and
therefore has a positive impact on society and business. On the other
hand, certain technologies outsmart humanity and threaten our survival
as the leaders on the planet, scary, but also a feasible scenario. No one can
say right now with total certainty what’s going to happen within the next
30 or 40 years.
But let’s look at technology in a positive way though. You may have
heard this phrase about fast pacing technology “There have been more
changes in technology in the past two years than the previous fifty years.”
While it’s clear that changes in our business models don’t have the same
speed. For this reason, it’s necessary to select new technology very care-
fully to stay in line with your slower changing business models.
Many managers are wondering how to deal with the overload of tech-
nologies and are afraid to select the wrong technology to improve their
business. Since they own the technology budgets, they need to be sure
that the money will be spent wisely. But unfortunately sometimes they
overlook difficulties in selecting new technology.
In general, large enterprises are well positioned to adopt innovative,
new technologies, and jump into this brave new world. The e­ cosystems
around them such as vendors and partners are more than willing to
­support. And even with tight budgets, large companies have sufficient
funding and resources for projects. Whereas small and medium ­businesses
normally don’t have sufficient resources to hire external experts to advise
on the right technologies. So they are going to try it themselves. And
that can lead to disappointment, because they may lack the required
­knowledge.
x Preface

Layout of the Content


I have focused on the most impacting new technologies. The technology
area is so big that it’s fairly impossible to mention them all. That’s why
the technologies you will find here are very likely to have a big impact on
business and society. When deciding “what technologies to write about,”
I felt most inspired by the “Eight Essential Technologies” published by
PricewaterhouseCoopers (PwC).
I’ve structured the content in four chapters:
Chapter 1 is a holistic view of digital transformation which is causing
many disruptions both in business and technology. Big data is at the core
of this transformation process, while emerging technologies specialize in
specific areas.
In Chapter 2, I focus on connectivity technologies in which I include
blockchain, Internet of Things, augmented and virtual reality. These tech-
nologies can be powered by big data, converge with each other and have
impact in various industries.
In Chapter 3, I focus on intelligence technologies in which I include
3D printing, artificial intelligence, drones and robotics. Again, these tech-
nologies can be powered by big data, converge with one another and have
impact in various industries.
Chapter 4 is about digital transformation planning, which helps to
reduce complexity when starting or enhancing a digital transformation
project. The approach I find most useful is a mix of methodologies such
as SOSTAC and Business Model Canvas.
Acknowledgments
I want to thank everyone who helped in the creation of my book. In
technology projects, many in the role of client, employer, or colleague
helped me directly or indirectly to obtain the proper image of the impact
technology has on business. I would also thank the many online experts
and content publishers who increased my knowledge of technology.
I hope you enjoy reading while improving your business and technol-
ogy skills and knowledge with New World Technologies World: 2020 And
Beyond.
Errol S. van Engelen
Rotterdam, January 2019
CHAPTER 1

Digital Transformation
Over the past several years, the term “digital transformation” has entered
the realm of enterprise IT. Digital transformation is frequently misin-
terpreted and misunderstood. What does “digital transformation” really
mean? What essential components does it include, and how does it impact
the enterprise? Figure 1.1 illustrates that digital transformation should be
regarded as business transformation.
The Global Center for Digital Business Transformation says that
“organizational change is the foundation of digital business transfor-
mation.” That’s because changing the nature of an organization means
changing the way people work, challenging their mindsets and the daily
work processes and strategies that they rely upon. While these present
the most difficult problems, they also yield the most worthwhile rewards,
allowing a business to become more efficient, data-driven, and nimble,
taking advantage of more business opportunities.

Figure 1.1  Digital transformation is business transformation


2 New World Technologies

In my opinion, there are three essential components for businesses


going through digital transformation efforts.

Engagement

Through content marketing, you can educate your customers about top-
ics important to them and eventually your business offerings. It gives
your brand a voice to engage with your target audience and establish a
strong, trustworthy relationship with them. Setting up real good engage-
ment with your audience is not as simple as it may look like. Sure, one
of the main reasons for brilliant content creation is ultimately to create
leads and increase revenue. But it shouldn’t come across that way. No
one likes being pressurized into buying something without having the
time to research or think about it first. Instead of trying to sell to your
audience, try to help them. Your customer will be coming to you because
they are looking for a product that you provide. So, producing content
that answers their questions surrounding that product will build trust and
leave a lasting impression.

Exposure

Going viral on social media is what every business wants to do. All the
attention and all the respect can take your business to the next level. The
problem is doing it. I’m a regular follower of social media and I’ve exper-
imented with different strategies to garner more interactions. This is how
you can improve exposure and reach:

• More content is better than less, but too much content is not
the name of the game
• Client engagement is your goal, drive traffic to the best-­
converting pages
• Connect with your customers—let them speak to their
needs and drive trust and reach for your brand by
­leveraging their experiences as part of your Social Media
and Content strategy
Digital Transformation 3

• Identify opportunities to repurpose your existing content to


drive active visitor and audience participation

Technology

Without implementing the right technologies, it would be fairly impos-


sible to successfully migrate from a traditional business to a digital com-
pany. The most important technologies to use are marketing automation,
big data, and business intelligence. Big data empowers other emerging
technologies such as blockchain, Internet of Things, augmented and
­virtual reality, 3D printing, artificial intelligence, drones and robotics.
Many of the discussions surrounding digital transformation have
focused on the technology: mobile applications, cloud platforms, artifi-
cial intelligence, big data, and so on. However, having the technological
foundation to support such innovations is only one piece of the digital
transformation puzzle.
To fully embrace this growing trend and reap all the benefits it offers,
corporations need to make a major change to their company culture.
­Digital transformation is about more than just adopting new technolo-
gies: It’s about reinventing your business to be driven by data—and that
starts with your team.

Think Business Transformation, Not Technology


In the business world, everyone is talking about digital transformation—
from AI to robots to the Internet of Things. But according to many top
experts in the field, most people are missing the point.
Technology doesn’t provide value to a business. Instead, technology’s
value comes from doing business differently because technology makes
it possible. I would like to refer to George Westerman’s MIT Sloan
­Management Review article, “Your Company Doesn’t Need a Digital
Strategy.” Creating a digital strategy can focus the organization in ways
that don’t capture the true value of digital transformation. Westerman,
who is a Principal Research Scientist with the MIT Sloan Initiative on the
­Digital Economy, suggests that the right focus is on a better strategy that
is enabled by digital.
4 New World Technologies

Focus on Strategic Transformation, Not Technology Adoption

According to Westerman, technology helps you do business differently,


but the right strategy is not technology-focused. It incorporates the right
technologies for the right jobs. Regardless of your industry, Westerman
suggests keeping these four points in mind to avoid common pitfalls.

Get Away from Silo Thinking

Focusing on the technology can direct aspirations toward what technol-


ogy can do (mobile, big data, virtual reality, and so on) rather than what
a transformed business should look like. For example, a mobile strategy
comes to a screeching halt when the company fails to consider opportu-
nities that are not enabled by mobile. This kind of incremental thinking
misses much bigger opportunities across silos.

Don’t Push the Envelope Too Far, Too Fast

Looking too far forward toward advanced digital innovations can make
other technologies seem mundane. However, business leaders leave easy
money on the table if they ignore incremental steps and pursue risky
opportunities that may not be ready to pay off yet.

Don’t Ask Your Tech Leaders to Drive Transformation Alone

Even the best IT leaders won’t be able to transform a business if they


don’t run that part of the business. “While I’ve seen many successful
digital transformations led by great tech leaders, the transformation
comes from working with them, not asking them to do it alone,” writes
Westerman.

Build Essential Leadership Capabilities, Not Just Technical Ones

Think of digital transformation not as a project but as a capability. When


you focus on transformation instead of digital, you shift the weight to
creating real business value from technological innovations.
Digital Transformation 5

Digital Maturity Matters in Every Industry


Digital maturity (see Figure 1.2) is a combination of two separate but
related dimensions. The first, digital intensity, is investment in technolo-
gy-enabled initiatives to change how the company operates—its customer
engagements, internal operations, and even business models. Companies
in all industries are investing in interesting digital initiatives. However, in
many firms, these investments are uncoordinated and sometimes dupli-
cative. Firms maturing in the second dimension, transformation manage-
ment intensity, are creating the leadership capabilities necessary to drive
digital transformation in the organization. Transformation intensity con-
sists of the vision to shape a new future, governance, and engagement to
steer the course, and IT and business relationships to implement technol-
ogy-based change.

Beginners

Pharmaceuticals: Executives see threat in digital transformation but


less opportunity than other industries do, perhaps because of regulation.
Many are building capabilities in analytics and worker enablement, but

Fashionistas Digital masters


• Many advanced digital features, in • Overaching digital vision is there
silos (social, mobile) • Many digital initiatives, generating
• No digital vision measurable value and cross silos
• Underdeveloped coordination • Strong digital governance
Digital capability

• Digital culture only in silos • Strong (integrated) digital culture

Beginners Conservatives
• Management skeptical about • Digital vision exists however
business value of advanced underdeveloped
technology/IT • Dominated by traditional digital
• May be carrying out some capabilities, few advanced
experiments • Strong governance across silos
• Immature digital culture • Taking active steps to build a digital
culture
Leadership capability

Figure 1.2  Digital maturity matrix


Source: Capgemini consulting and MIT center for digital business, 2012
6 New World Technologies

most firms are just beginning their digital journeys, leaving many oppor-
tunities untapped.

Consumer Packaged Goods (CPG): Digital opens new possibilities for


firms to engage directly with customers. Twenty-four percent of firms
surveyed stand out as digital masters, while others lag far behind. Gener-
ally, less-mature CPG firms can improve through stronger visions, greater
digital investments and more robust transformation management.

Manufacturing: Traditionally slow to react to digital, manufacturing is


on the cusp of emerging from “beginner” status. Efforts in digital remain
focused on operational efficiencies and worker enablement, but the B2B
nature of many companies may limit their attention to digital customer
engagement. Manufacturers see less opportunity and threat in digital
transformation than other industries. To mature, firms may need a trans-
formative digital vision, plus the engagement and governance to develop
impetus for digital investments.

Conservatives

Insurance: High expectations for digital and strong vision and governance
suggest that the insurers should be leading the digital revolution. Yet, this
is not the case for most firms. Generally, scores for engaging customers
through social media and mobile are lower than average, suggesting that
the combination of strong digital governance capabilities, regulatory wor-
ries, and a risk-averse culture would not be an innovation enabler.

Utilities: For the conservative utilities industry, efficiency is the name


of the game in digital transformation. Constant pressure to reduce costs
and the advent of smart metering create digital opportunities in customer
experience, worker enablement, analytics and process improvement.

Fashionistas

Telecom: Facing ever-increasing levels of connectivity and data consump-


tion, telecom firms have been quick to respond. Of the organizations in
our study, 78 percent are high on digital intensity (Digital Masters or
Digital Transformation 7

Fashionistas) and Beginners are almost nonexistent. To complement their


digital strengths, telecom firms can focus on stronger digital leadership to
integrate and align initiatives across silos.

Travel and hospitality: Since the advent of the Web, digital has turned
the industry upside down. The industry has responded, with 81 percent
of firms in the Digital Masters or Fashionista quadrants and no Beginners.
Opportunities exist to improve worker enablement in many companies.
To make the jump into Digital Masters territory, Fashionistas will need to
build levels of excellence in transformation management to match their
high digital intensity, including a transformational vision for the future.

Digital Masters

Banking: Digital is revolutionizing the relationship between customers


and retail banks, who have responded with strong capabilities in customer
service, analytics, and even social media. Banks have an opportunity to
parlay these successes into new innovations in mobile or social customer
engagement and internal knowledge sharing. In addition, opportunities
exist to integrate initiatives and processes across corporate silos.

Retail: A decade-long history with digital disruption has seasoned retail-


ers and produced a number of digirati (26 percent of firms surveyed).
Retailers are generally confident in the potential for social and mobile, as
well as their digital skill set. Moving forward, firms may want to focus on
cross-channel consistency and worker enablement while building analyt-
ics capabilities.

High-Tech: For high-tech, digital is close to home. Firms generally enjoy


well-developed capabilities and high digital maturity. They are also—not
surprisingly—enthusiastic about digital’s potential. This momentum may
create further opportunities in mobile and embedded devices.

Do We Have Time to Wait?

Executives in industries such as CPG, pharmaceuticals, and manufactur-


ing might be tempted to believe they do not yet need to engage in digital
8 New World Technologies

transformation. Their industries are less digitally mature than others,


so they might have time to wait. However, every industry, regardless of
how digitally mature, hosts companies that are Digital Masters. In other
words, every industry—from manufacturing to high technology—has
firms that have already begun to gain the benefits of digital transforma-
tion. This should be a call to action for executives in every firm. It takes
several years to build maturity, especially in the transformation manage-
ment intensity dimension. Digital Beginners in any industry are several
years from gaining the digital maturity that their Digital Master compet-
itors already possess.

Why Culture Is Key in Digital Transformation


Digital transformation changes the DNA of an organization. It breaks
down the silos, rinses existing processes, and makes sure the business is
leaner, faster, agile, and more responsive than ever before.
However, too often, business leaders forget that for such a transfor-
mation to be successful, it needs to be backed by a corresponding cultural
shift. “For any transformation to be successful, people need to buy into
your vision,” according to Aashish Gupta, Research Analyst at Gartner.
He added:

The culture aspect and the technology demand equal attention


from the application leader, because culture will form the back-
bone of all change initiatives for their digital business transfor-
mation. The staff trapped in a ‘fixed’ mindset may slow down or,
worse, derail the digital business transformation initiatives of the
company,

In order to drive that cultural change, businesses need to invest in


it. An online clothes and shoe retailer, Gartner cites, instructs all of its
new hires to experience its call center. This, the company believes, allows
employees to gain a holistic view of the business and helps them under-
stand why customer service is the backbone of it.
If you’re looking for a plan to drive the cultural change, here’s a four-
step plan recommended by Gartner:
Digital Transformation 9

• Create a compelling vision: Your vision should be able to


inspire and motivate desire for change. Craft it carefully, share
it with stakeholders, and ensure that everyone is on the same
page as you are—seeking and pursuing growth. “A growth
mindset demands people to be comfortable with the speed of
the digital era, and they must be willing to make quick and
risky bets instead of slow and safe bets,” said Gupta.
• Define: “What gets measured, gets managed,” said manage-
ment guru Peter Drucker. When you’re pursuing a mindset
change, similarly, you need to ensure your staff knows what
behavioral attributes reflect the change and the individual key
performance indicators (KPIs) or goals that must be targeted.
• Implement: To make the concrete changes and give employ-
ees a strong sense of direction, the human resources (HR)
function must update individual job descriptions. Doing so
involves a lot of extra effort but can help make a profound
impact because it adds stability to how change is introduced,
facilitated, and managed. “Acceptance will happen only if the
change is visible throughout the organization. You should
incentivize people to share knowledge or learn new skills,”
said Gupta.
• Measure, monitor, and wait: Inspiring a change in your
employees’ mindset isn’t going to be quick but it’s going to
reap significant dividends in the long run. Gartner advises
business leaders to allow some time for changes to perco-
late and to continuously survey employees about how they
understand and perceive the change. “Be patient. Fostering a
growth mindset culture that requires behavior changes among
your staff takes time. However, the rewards are considerable as
everyone perseveres, learns, grows and accepts that potential is
nurtured, not predetermined,” explained Gupta.

How to Accelerate Digital Transformation


Our world is changing fast. Customers’ expectations for better and
innovative experiences have been growing. This has forced businesses
10 New World Technologies

to transform themselves and rethink their service delivery to meet these


demands. However, this transformation process needs to be fast. Organi-
zations and their leaders need to keep up with the pace at which the world
is evolving if they want to sustain their position in the market and grow.
So, how can the C-level management accelerate their organization’s
digital transformation to meet the ever-growing customer demands?

• Focus on business and technology planning: As a digital


leader, it is crucial that you start with an end goal or a busi-
ness outcome in mind. Market leaders don’t jump at every
technology that crosses their path. On the contrary, they
start with business outcomes in mind and work backward
to choose the technologies that fit their goals and which will
help them deliver an experience that is smarter and better.
• Invest in your organization’s people and culture: It is essen-
tial for organizations to invest in its people and enable them
to participate in your digital transformation. Finding people
with the right attitude, investing in their training and devel-
opment, and designing programs that recognize and reward
employee’s contributions to customer experience go a long
way in retaining talent as well as creating an organizational
culture that embraces change on an ongoing basis.
• Keep your customer at the center of your business: It is
critical for organizations to design their processes in a way
that boosts customer experience and retention. Adopt modern
technologies in concurrence with evolving buying trends that
provide your customers with unique capabilities that save
time in their day, add value to their business, and deliver
services when and how they want to receive them.
• Simplify and modernize IT: Digital transformation leaders
should focus on simplifying and modernizing their IT envi-
ronments by adopting digital differentiators such as cloud-
based systems, predictive intelligence capabilities, social and
mobile enablers and DevOps practices to design leaner and
more agile business processes.
Digital Transformation 11

• Look for continuous improvement: Successful transfor-


mation leaders are those that are continuously exploring the
ways they can improve their organization’s processes to deliver
superior customer experiences on an ongoing basis. Establish
a set of key performance indicators that demonstrate the
health of your digital business and keep raising the bar.

Digital innovation is changing the world faster than we can imagine.


The only way that organizations can keep up with this speed is by think-
ing outside in, outlining key business outcomes, and working backward
to adopt agile methodologies and right mix of technology, which will ulti-
mately help them secure their market share and stay ahead of the curve.

Key Components for Digital Success


Engagement

Customers are increasingly empowered and businesses that do not pro-


vide a fast, multichannel experience will start to lose these customers.
For this to happen “consistent, tangible feedback around the customer’s
­perceptions, motivations and expectations” is needed, and for the results
for such surveys to be meaningfully analyzed. One of the core instru-
ments to improve customer engagement is content marketing.

Content Marketing

Content marketing is a successful digital marketing strategy that can


reach consumers and spread brand awareness. More than half of busi-
nesses spend time and money on content marketing, a number that will
grow as more companies recognize its utility.
Most businesses publish a variety of content frequently, but many
still want to make improvements to their content, such as creating more
original and visual content.
Visual content, such as videos, images, and infographics, engages
­consumers and keeps their interest piqued for the whole post. Visual con-
tent stands out among other text-rich blog posts. It’s always nice to break
12 New World Technologies

up text with visuals because we’re all such visual learners. Our attention
spans keep decreasing, so visuals keep a reader’s attention. It breaks up
the monotony and leads the consumer through the content pieces. Con-
sumers are more likely to read and stay engaged with your content if it
is visual.

Exposure

Having a strong social media presence can help your business in several
ways. Social media platforms of the business act as multiple gateways
to a business’s website, creating an external linking structure and more
opportunities to appear in search results. Social media creates a way to
increase brand awareness and customer base. Any company has the ability
to connect with customers in diverse ways while also driving traffic to
their website to generate conversions. So let’s see how you can maximize
your social media presence.

Social Media

Social media marketing remains the lynchpin of all other inbound mar-
keting strategies, including e-mail marketing and content marketing.
Creating a social media presence for your business can open up new
growth opportunities by expanding your brand’s exposure and affinity.
Every business should have established objectives before tinkering with
their social media presence. Set goals early and monitor them constantly.
Simply having a Facebook account is meaningless if you don’t create value
for your customers.

Build Relationships, Not Traffic

Brand advocacy means your customers market and promote your prod-
ucts for you, which is not only cost efficient, but also more believable
than what your employees say about your own company. Growing your
audience and building relationships with industry thought leaders will
position your brand to become a leading voice and an influencer. Before
acquiring this status, it’s key to partner with influencers early on who
Digital Transformation 13

will endorse and market your brand for you. This can be accomplished
through sponsorship, engaging with them directly, and sharing their
content.
Social media is also the ultimate user-review resource, so it’s import-
ant to immediately respond to any feedback or criticism to mitigate any
negative exposure. Through strong social engagement you can be pro-
active, rather than reactive, in curating a positive social media presence.
Once you’ve established your brand’s identity and built trust with your
customers, drop a highly relevant promotion or offer directly in front of
them to drive sales.

Provide Value

Share content, self-produced or not, that provides utility for your


­customers. This could even include a funny meme or a how-to guide
from an industry publication. You’re essentially establishing your own
syndicated content platform. Encourage your customers to turn to you
for news and information. Provide value that will entice users to engage
with your brand in the first place.
As an added bonus, the content you share will provide valuable back-
links for your website and help improve its search engine rankings. This
will align perfectly with your multichannel marketing campaign. Your
highest shared and compounding posts could also be featured on your
website and in a company e-newsletter.

Interactive and Seasonal Content

Seek audience engagement by providing interactive content with value.


Interactive content, such as quizzes, contests, and giveaways, is a great
choice to entice user clicks and consumer brand engagement. This will
promote a positive branded experience. One of the best forms of inter-
active content is hosting an event that draws people to your physical
offline location. In addition to sharing your blog posts, you could simply
ask your followers a provocative or interesting question that encourages
debate and discussion. You could host Q&As or live streams that encour-
age users to post questions to the feed.
14 New World Technologies

Analytics

Finally, assess how well your social media strategy is aligning with your
bottom line. Actively track KPIs, such as the amount of referral traffic
generated from social media channels and the social signals each piece of
content is acquiring. There are many analytics tools your business could
use, such as Hootsuite and Buffer.
If you have Google Analytics activated on your website, you can insert
a tracking code that will track the amount of times somebody shares a blog
post from your website. The important thing to remember is patience.

Final Thoughts

Social media is a community platform, not a marketplace for your brand.


The focus of any inbound marketing strategy is to pull customers closer
to you and this requires consistent engagement and value-added content.
Align your content marketing strategies with your social media outreach
to retain customers and create demand for your products. In an inter-
connected world, brand affinity remains the most effective weapon in a
business’s arsenal to separate itself from the crowd.

Technology

Too many organizations are stuck in an “old school” seven-year cycle of


technology implementation that is susceptible to budget overruns, delays,
and major capital outlay without benefit. As a result, boards lose faith in
technology departments, and are less open to trying again. In fact, Chief
Information Officers (CIOs) are less likely to lead innovation across the
business than their global counterparts (18 percent versus 26 percent) and
are more likely to take a secondary role in driving transformation.
It is clear that while technology is a driver and enabler of transforma-
tion, it is not the answer in its own right. Successful technology transfor-
mation in today’s fast-paced world requires a fresh approach—one which
is about the business model and people—not just technology.

Marketing Automation

Media and marketing are inevitably linked. With the extensive number of
media platforms available to consumers and marketers and the wide reach
Digital Transformation 15

of those digital platforms, marketers are now looking at the scale and
volume of marketing operations that offer personalized customer experi-
ences. Marketing automation can power campaigns, help identify leads,
influence a buyer’s decision, and so much more.
The global marketing automation software market is anticipated to
grow up to a compounded annual growth rate (CAGR) of 9.26 percent
by 2022. The market has generated a revenue of $3.86 billion in 2016
and is anticipated to reach up to $7.63 billion by 2025. Marketing auto-
mation categories make up a significant subset of marketing technology.
All of these areas of marketing have been impacted by predictive analytics,
machine learning and AI, and higher personalization of content.

Big Data

The power of predictive analytics and advanced data science is the reason
behind the implementation of future strategies and immediate changes
in the global businesses today. Big data and analytics are entangled with
each other today to deliver best end-results unlikely following the tradi-
tional approach. Earlier, analytics and data management used to be two
different sections under one enterprise. With the emergence of advanced
data science, such organizational barriers are broken. The integration of
business operations with information technology has brought about suc-
cessful enterprise transformation.
The need for better business analytics has also arisen for business
transformation. BI (business intelligence), with its skills and technolog-
ical efficiency, continues to explore and investigate on past business per-
formances to gain insights and deploy business planning. The integration
of big data with traditional business analytics helps in creating a data
ecosystem that enables businesses to generate new insights.

Engage Your Audience with Great Content


Creating business content is complex. It has to satisfy various needs such
as raising awareness, driving traffic, generating leads, and ultimately con-
verting customers. Content as shown in Figure 1.3 is often aimed at spe-
cific niche audiences of buyers and hence it doesn’t get widely shared.
16 New World Technologies

Figure 1.3  Engage your audience with great content

However, there are some types of content that engage large business
audiences. I have reviewed the most engaging business content published
this year and identified 10 key content types that work well to drive B2B
engagement.
Here’s a summary of the top 10 most engaging forms of B2B content:

• Technology developments: Industries can be destroyed


and created by technological change, and quickly. Whether
it is online banking, artificial intelligence, driverless cars or
big data, business audiences eagerly consume content on
­technology change in their industry.
• Future trends: These trends may be related to technology
developments, but they cover a wider range of trends such
as customer engagement, regulation, cultural change, and
political developments.
• Opinion or viewpoint posts: There is no shortage of view-
points about business developments from ethical and moral
perspectives to how to grow a business. Controversial or
­challenging viewpoints frequently provoke engagement.
The views of successful business leaders such as Jeff Bezos also
gain high engagement.
Digital Transformation 17

• Inspirational stories and case studies: Story formats are an


increasingly powerful form of business content, particularly
data-driven stories and inspirational stories.
• Practical tips and how to posts: Business audiences want to
do their job better and actively look for practical content that
may help them improve their performance.
• Personal career advice: Most people want to advance their
career and they actively seek out and share good career advice.
• Research and reference content: Knowledge can become
obsolete very quickly, and new research findings help business
audiences to understand changes. Reference content is closely
related to practical and “how to” content; it is helpful and a
source of support.
• Leadership: Aspirational staff aspire to be leaders and good
leaders want to improve. There is a thirst for content on
leadership from practical tips to case studies and reflections by
current and former CEOs.
• Industry news: We all have to keep up with the latest develop-
ments in our industry and sectors. Thus there is always interest
in company news and significant market developments.
• In vogue topics or brands: Every year and in every industry
there are celebrity brands and topics. These are the in vogue
topics people actively discuss in meetings and coffee shops—
sometimes in a good way, sometimes not. Recent celebrity
brands have included Uber, Apple, and Tesla. Recent celebrity
topics have included big data and artificial intelligence.
• Last but not least, LinkedIn Pulse articles: If you want to
gain more attention on LinkedIn, then you need to be pub-
lishing on Pulse. Nineteen of the top 20 most shared articles
on LinkedIn this year were published on the platform itself.

Boost Your Brand Using Social Media


The world of social networks is rising at an astonishing pace. According
to some recent studies, the number of social media users will rise up to
2.62 billion by the end of 2018. So, what do these figures tell you? To put
yourself on the radar of your customers, deliver a personalized approach,
18 New World Technologies

Figure 1.4  Social media to create social engagement

and improve your conversion rate, you need to create a solid digital mar-
keting campaign.
However, boosting your brand awareness via social networks is not
just about creating accounts on all platforms available, inviting random
people to like your page, and sharing a few posts every once in a while. It’s
about marketing and creating engagement to the right people, through
the right channels. Good engagement with your audience is made possi-
ble by the use of social media, as shown in Figure 1.4.
Here are several social media marketing tips that will take your brand-
ing efforts to a whole new level.

Choose the Right Social Networks

Choosing where to focus your social networking energy may be a daunt-


ing task. You need to keep in mind that not all social media platforms will
work the same way in helping you reach your goals. Precisely because of
this, you need to be picky and make educated decisions. There is a pleth-
ora of questions you need to ask yourself, most important of which are:

• What are the social networks your customers use?


• How popular is a certain social networking channel?
Digital Transformation 19

• Does this channel make sense for your brand?


• How can it improve your brand awareness?

Share Engaging Content

Content marketing is an inseparable and most valuable aspect of your


social media campaign. Only by delivering relevant, easily digestible, and
shareable content will you establish yourself as an expert in your niche.
However, improving the performance of your content on social networks
requires more than writing good-old articles. You need to focus on an
interactive and engaging visual content, as well. Use infographics, photos,
videos, memes, gifs, and quote graphs to hook your followers’ attention
and keep them interested in the content you share.

Be Unique and Consistent

To engage people with your brand, you need to deliver recognizable con-
tent people will instantly relate to your brand. Such an approach will help
you build trust among your target audience and put an emphasis on your
brand’s mission statement, goals, and core values.
Here are a few strategies that will set your brand apart from its
competitors.

Find Your Tone of Voice

To make the most of the content you create, you need to define your
tone of voice. Gather a representative sample of the posts you’ve shared
so far and cast a critical eye on it. Are your posts trustworthy, quirky, or
action-oriented? See what tone suits your brand the best and stick to it in
your future content creation efforts.

Schedule Your Posts

To let your target audience know what to expect from you, you should
stick to your content distribution calendar and share your posts regu-
larly. Instead of managing your posts manually, you should make this
process simpler by using social media management tools. They will help
20 New World Technologies

you sync your social networking profiles, find fresh content, and schedule
­hundreds of social media posts at once.

Answer and Acknowledge

One of the most powerful ways to earn your customers’ respect is to


­provide them with an instant feedback. To stay on top of your commu-
nication with your customers, you should use social media monitoring
tools. With their help, you will be able to monitor your target audience’s
discussions and participate in them in real time. When doing so, you
need to obey the following rules of social networking:

1. React and respond to all questions in a timely manner (consider


implementing chatbots).
2. Be polite and professional.
3. If you were wrong about something, apologize.

Use Social Proof

Why do we stay loyal to famous brands like Coca-Cola, Apple, or Star-


bucks? The fact that there are millions of people around the globe using
their products lends an air of authority, trustworthiness, and quality.
That’s called social proof and, to integrate it with your social media cam-
paign effectively, you need to:

1. Share your users’ testimonials.


2. Inspire your customers to rate and review your products and services.
3. Seek for influencer endorsements.
4. Show appreciation for mentions.
5. Share your business’ milestones, such as reaching a certain number
of customers.

Offer a Rewards Program

When done right, customer loyalty programs are immensely powerful


customer retention boosters. As the holiday season is here, you should
Digital Transformation 21

incentivize your followers for being loyal to your brand, as well as for
sending feedback, making referrals, or sharing your posts. And, social
networks are a perfect place for you to do so.

Turning Big Data into Business Insights


No matter how vast your big data sources are, if your company does not
devise the right methods for garnering meaningful insights from it, the
data is of no avail.
The entry of big data has revolutionized the way businesses work.
However, till today, a large number of decision makers are confused on
how to extract the right insights from big data. This is mainly because
businesses embark on this journey without checking if they have all the
parameters in place. Majority of big data projects are implemented after
insight expiry or with defective strategies. Before tackling a voluminous
amount of data, it is crucial that businesses formulate an apt big data ini-
tiative to suit their needs. I think that the following five ways are common
to successful businesses and are an effective guide for turning big data into
big insights, as shown in Figure 1.5.

Figure 1.5  Turning big data into big insights


22 New World Technologies

Enhance Speed and Delivery

Speed is a key factor for productive action. For successful execution from
insights, you need to act quickly. If you spend a long time discussing
and analyzing big data in the hope of acquiring near perfect insights, all
your efforts will end up fruitless. When it comes to big data analytics,
it is crucial to focus on quick decisions and execution. Today, successful
companies like Amazon and Microsoft have one thing in common—they
make their decisions from 70 percent of relevant data available. If they,
too, would wait for perfect information for perfect insights, their outputs
and revenue streams would face the threat of paralysis.

Determine What’s Actionable

Before you start extracting insights from big data, you need to have a clear
understanding of the things you want to achieve from it. Differentiate
between the strong areas of your business and those that need reconsider-
ation. Before diving in for answers, it is important to have the right set of
questions for big data analytics. Address those questions first that you know
are bound to lead to economic opportunities and are practically actionable.
It is easy to get distracted by the vast availability of big data. Thus, narrow
your approach to core business problems. Set achievable parameters; other-
wise, you will risk the loss of manpower and valuable resources.

Assemble a “Smart” Team

The next step is to assemble a team of skilled professionals. Actionable


insights can only be garnered from big data effectively with the assistance
of intelligent humans. There needs to be a presence of creative person-
nel who can formulate new ideas, develop technological strategies, and
produce efficient implementation. Look for individuals who have fair
knowledge in the fields of AI, machine learning, big data analytics, and
automated support systems.

Understand Customer Needs

How will you extract insights from big data if you don’t have an idea
of your customer needs and your business requirements? Before going
Digital Transformation 23

into insights, you need to focus on gaining qualitative customer insights.


Thus, businesses must consider the challenges their audience is facing.
This means interacting with people who use your product or service,
recording their responses, and channeling those responses to spark your
product or service.

Focus on the Right Sourcing

While a company’s main aim is to build insights from a range of data


sources, it is crucial to focus on the types of data sources that will aid in
the progress. The perfect dataset doesn’t exist. Start with analyzing data
from a data mart. Most businesses are confused when it comes to the
difference between a data mart and a data warehouse. A data warehouse
is obviously an essential asset in any company, but a small and selective
data mart produces quicker insights and prevents you from getting mired
in complexity. Over time, you can then broaden your horizon and focus
on additional data sets.

Integrating Marketing Automation and Customer


Relationship Management (CRM)
There are so many leads, prospects, and customers from so many channels
in the digitally connected world that you may need both a CRM and
marketing automation software to adequately manage all of them. CRM
and marketing automation are different processes with different ­purposes
and utilize distinct tools. The confusion usually arises because both CRM
and marketing automation typically deal with the same information (con-
tacts, lists, profiles, etc.) and similarly work with leads. ­Figure 1.6 shows
that marketing and sales alignment creates more effective commerce, and
involves integrating marketing automation and CRM.

Main Differences Between CRM and Marketing Automation

Type of Users

Marketing automation platforms are used by marketers while CRM


programs are utilized by sales people. Both offer automation, analytics,
and reporting features to streamline daily tasks and provide users with
24 New World Technologies

Leads
Sales calls
Follow–up
Conversion
Sales

Figure 1.6  Integrating marketing automation and CRM

important metrics and insights on the progress, efficiency, and effective-


ness of marketing campaigns as well as sales activities and efforts.

Key Function

The primary function of marketing automation is to generate leads


from marketing campaigns. A lead can be an individual or business that
expresses interest in your product or services and may come as a result of
referral or through direct response to your campaigns such as promotion,
publicity, or advertising.
On the other hand, CRM assists the sales team to nurture those leads
from information collected in the contact or lead database. Sales ­people
use CRM to analyze the information gathered, categorize and qualify
contacts, and follow through with offers or discounts and other similar
campaigns, all aimed at transforming leads in to buying customers. CRM
is also used for retaining existing customers.

Goal

Marketing automation is designed to help generate marketing-qualified


leads (MQLs) to be handed over to sales. Meanwhile, CRM’s goal is to
convert MQLs to sales-qualified leads (SQLs) and ultimately to sales.
Digital Transformation 25

Although the respective goals are different as you can see where one ends
and the other begins in the sales funnel, marketing automation and CRM
have complimentary roles in the effort to transform leads into customers.

Role in the Buyer’s Journey

Marketing automation is to create awareness of your products and ser-


vices while CRM is to set up or prepare for purchase. They are separate
roles but at the same time complementary, unifying the two funnels that
make up the buyer’s journey.

Features of CRM

CRM software is the main platform of your sales team and sales agents
to improve their productivity and enhance customer interaction with the
end goal of closing sales. For this purpose, CRM software brings with it
features and capabilities such as the following:

• Contact management organizes your contacts by categories


for easy sorting or retrieval. For all intents and purposes, this
feature is sufficient for a small business to undertake a CRM
program like e-mail campaigns or classifying customers based
on their records.
• Sales automation is the main component of CRM software
automates the sales process from prospecting to customer
inquiry and sending out replies to order taking.
• Communication channels gives you the capability to
connect, respond, and interact with customers and prospects
from various channels including e-mail, phone, instant mes-
saging (IM) or live chat, social media, and forums.
• Task/workflow management lets you efficiently manage
activities and schedules, and come up with a contact plan.

The great thing is that CRM integration features allow it to work with
most marketing automation platforms, giving your sales team access to cus-
tomer information collated by your marketing them. Likewise, marketing
26 New World Technologies

automation integration means the software can connect with CRM tools
and make available relevant information from the marketing end.

Features of Marketing Automation

Marketing automation software helps the marketing team generate leads


and manage contacts. The software is equipped with these features:

• Lead management: This helps you generate, onboard,


nurture, and automate leads. It comes with tools to track and
analyze a lead’s activities such as website visits, e-mail opens,
completing forms on your website, or reading your blogs.
• E-mail marketing: This allows you to compile a contact list
from various sources and channels, and send targeted mes-
sages, onboard customers, and share both informative as well
as promotional content.
• Market segmentation: The system can automatically classify
and assign the lead to a marketing segment based on infor-
mation gathered from your lead’s activities and interactions.
With analytics, marketers get to know which leads are likely
to be converted into customers.
• A/B testing: This essential marketing automation software
features enable you to use advanced e-mail segmentation to
test the effectiveness of different campaigns, compare results,
and to optimize and determine the best approach for your
marketing strategies.

To Conclude

CRM and marketing automation differs in purpose, users, and uses. It is,
however, not a choice between two systems since each plays an important
role in your business—driving productivity and efficiency of your sales
team and marketing team, and ensuring the effectiveness of your market-
ing campaigns and sales efforts.

Emerging Technologies Powered by Big Data


The Essential Eight Emerging Technologies as illustrated in Figure 1.7 by
Pricewaterhouse Coopers (PwC) will influence business models and the
Digital Transformation 27

Internet of things Augmented


Robatics reality

Drones Virtual
reality

3D printing Blockchain
Artificial
intelligence
Figure 1.7  The essential eight technologies by Pricewaterhouse
Coopers (PwC)
Source: PwC, “How can boards tackle the essential eight and other emerging technologies?,” June
2017 © 2018 PricewaterhouseCoopers LLP, a Delaware limited liability partnership

competitive landscape for years to come. And one thing’s clear: emerging
technology is no longer the realm of IT alone. Business leaders need to
begin learning and thinking about how to harness their potential.

Blockchain

A blockchain is a distributed electronic database or, more broadly, an


electronic ledger that uses software algorithms to record and confirm
transactions with reliability and anonymity. The record of events is shared
between many parties and information once entered cannot be altered, as
the downstream chain reinforces upstream transactions.

Internet of Things

The Internet of Things (IoT) is a network of physical objects—devices,


vehicles, appliances—embedded with sensors, software, network con-
nectivity, and computer capability enabling them to collect, exchange,
and act on data, usually without human intervention. The Industrial IoT
(IIoT) refers to its use in the manufacturing and industrial sectors, or
Industry 4.0. IIoT adds sensors to people, places, processes, and products
across a value chain to capture and analyze information to advance the
goals of the organization.
28 New World Technologies

Augmented Reality

Augmented reality (AR) is a visual and/or audio “overlay” on the physical


world that uses contextualized digital information to augment the view-
er’s real-world view. AR-enabled smartglasses help warehouse workers
fulfill orders with precision, airline manufacturers assemble planes, and
electrical workers make repairs.

Virtual Reality

Virtual reality (VR) is an example of creative destruction. In a comput-


er-generated simulation of a three dimensional image or environment
viewers can use special equipment to interact with the simulation in real-
istic ways. However, VR has the potential to transform many other indus-
tries as well, especially in the realm of experiential training where workers
can be thrown into hazardous, difficult, or cost-prohibitive situations
without the intense risks associated with these activities in the real world.

3D Printing

3D printing creates three-dimensional objects based on digital models by


layering or “printing” successive layers of materials. 3D printing has the
potential to turn every large enterprise, small business, and living room
into a factory.

Artificial Intelligence

Software algorithms are automating complex decision-making tasks to


mimic the human thought processes and senses. Artificial Intelligence
(AI) is not a monolithic technology. A subset of AI, machine learning,
focuses on the development of computer programs that can teach them-
selves to learn, understand, reason, plan, and act when blasted with data.
Machine learning carries enormous potential for the creation of meaning-
ful products and services.

Drones

Drones vary greatly in their capacity based on their design. Some drones
need wide spaces to take off while quadcopters can squeeze into a column
Digital Transformation 29

of space. Some drones are water-based; some can operate and navigate
autonomously (via remote control) or fully autonomously (via onboard
computers). In June 2016, the US Federal Aviation Administration cleared
a path for commercial drone use, establishing safe-use rules that include
airspace, speed, pilot certification, and other guidelines for operators.

Robotics

Robots are machines with enhanced sensing, control, and intelligence


used to automate, augment, or assist human activities. The robot market,
which has grown quite large for industrial applications, is poised for radi-
cal growth in a broad range of services applications. These applications are
transforming manufacturing and nonmanufacturing operations with new
capabilities that address the challenges of working in changing, uncertain,
and uncontrolled environments, such as alongside humans without being
a danger to them.

Summary
Over the past several years, the term “digital transformation” has entered
the realm of enterprise IT. Digital transformation is frequently misinter-
preted and misunderstood.
What does “digital transformation” really mean? What essential com-
ponents does it include, and how does it impact the enterprise?
In the business world, everyone is talking about digital transforma-
tion—from AI to robots to the IoT. But according to many top experts
in the field, most people are missing the point. Technology alone doesn’t
provide value to a business. Instead, technology’s value comes from doing
business differently because technology makes it possible.
Since technology is changing fast, it would be wise to develop a
twelve-month roadmap. The reasons for developing such a roadmap are
not self-evident. Certainly technology is important, but why must the
business meticulously plan out their strategy for a year into the future,
especially if the environment is working just fine as it is? The truth is
that there are many reasons to draft your roadmap, and some of these
reasons will be more or less relevant to different businesses depending on
their industry.
30 New World Technologies

Digital maturity is a combination of two separate but related dimen-


sions. The first, digital intensity, is investment in technology-enabled
initiatives to change how the company operates—its customer engage-
ments, internal operations, and even business models. Firms maturing in
the second dimension, transformation management intensity, are creating
the leadership capabilities necessary to drive digital transformation in the
organization.
Digital transformation changes the DNA of an organization. It breaks
down the silos, rinses existing processes, and makes sure the business is
leaner, faster, agile, and more responsive than ever before. However, busi-
ness leaders forget that for such a transformation to be successful, it needs
to be backed by a corresponding cultural shift. Culture will form the
backbone of all change initiatives.
Creating business content is complex. It has to satisfy various needs
such as raising awareness, driving traffic, generating leads, and ultimately
converting customers. Content is often aimed at specific niche audiences
of buyers and hence it doesn’t get widely shared.
However, there are some types of content that engage large business
audiences. I have reviewed the most engaging business content published
this year and identified 10 key content types that work well to drive B2B
engagement.
The world of social networks is rising at an astonishing pace. To put
yourself on the radar of your customers, deliver a personalized approach,
and improve your conversion rate, you need to create a solid digital
­marketing campaign.
Customers’ expectations for better and innovative experiences have
been growing. This has forced businesses to transform themselves and
rethink their service delivery to meet these demands. However, this trans-
formation process needs to be fast. Organizations and their leaders need
to keep up with the pace at which the world is evolving if they want
to sustain their position in the market and grow. Digital innovation is
changing the world faster than we can imagine.
Having a strong social media presence can help your business in sev-
eral ways. Social media platforms of a business act as multiple gateways
to a business’s website, creating an external linking structure and more
opportunities to appear in search results. Social media creates a way to
Digital Transformation 31

increase brand awareness and customer base. Customers are increasingly


empowered and businesses that do not provide a fast, multichannel expe-
rience will start to lose these customers.
For this to happen “consistent, tangible feedback around the custom-
er’s perceptions, motivations and expectations” is needed. Without the
right technologies, it would be fairly impossible to successfully migrate
from a traditional business to a digital company. The most important
technologies to use are marketing automation, big data, and business
intelligence. Big data powers other emerging technologies such as block-
chain, Internet of Things, augmented and virtual reality, 3D printing,
artificial intelligence, drones, and robotics.

Homework Assignment
For students: consider a brick and mortar banking company that delivers
products and services to the business-to-business (B2B) market.
For professionals: consider the company you’re working for or have
been working for.
Your VP of business development wants to transform the company to a
digital leader. As a C-level business manager with more than average inter-
est in everything digital, you are asked by the VP of business development
to conduct a research study, which will lead to a digital transformation
strategy. Include exposure, engagement, and technology. Add opportuni-
ties to unlock new business values and increase competitive advantages.
You can do this exercise alone. However, for best results, consider
forming a team with two colleagues with a business background and
two with a technology background. You or someone else can take up the
role of facilitator. The other team members will do their questions and
answers. At the end of the session, the facilitator will wrap up the results.
The initial tasks are involving:

• Set up a digital transformation strategy


• Digital transformation feasibility and business case
• Digital transformation security and privacy challenges
• The competitive advantages you will accomplish by digital
transformation
32 New World Technologies

The homework assignment to be conducted is to draft a short report


(4–8 pages), which addresses the following questions and topics:

• Develop a description, definition, and strategy of digital


transformation.
• Define exposure, engagement, and technology as key
­components for digital success.
• When you consider using big data:
� Define what data needs to be collected for your bank.

� What data analytics are needed?

� What actions should be needed based on the results from

analytics?
• Find a list of top digital transformation platform vendors and
their solutions (find at least 10 vendors).
• Align your strategy with the company’s business strategy.
• Inspire your VP of business development to take the next
step, which would be a digital transformation session.
Index
ABB Robotics, 51–52 augmented reality, 66–67
Agile manufacturing (AM), 91–92 3D printing, 100, 101
Agricultural research, drones, 124 Autonomous (“driverless”) motor
Agriculture vehicles, IoT network, 48
health care sector, 142–143
robotics, 142–143 Banking, 7
ALPHA, 128–129 Big data
Analytics, 14 actionable insights, 22
Artificial intelligence (AI), 28 and analytics, 15
automotive, 114–115 artificial intelligence, 105–108
big data, 105–108 and augmented reality, 62
competitive economy, 109–110 and blockchain technology, 36–37
drones, 128–129 customer needs, 22–23
E-commerce and customer service, decision makers, 21
115–116 internet of things network, 50
education, 113–114 Pricewaterhouse Coopers, 26–29
health care, 113 right sourcing, 23
health care sector, 108–109 robotics, 134–136
human resources, 114 smart team assembly, 22
limited memory, 104 speed and delivery enhancement,
reactive machines, 104 22
retail, 110–112 Bipedal walking “partner robot,” 132
robotics, 144–147 Bitcoin balance, 34
security, 113 Blockchain technology
self-awareness, 105 benefits, 34–35
theory of mind, 104–105 and Big Data, 36–37
tools, 102 Bitcoin balance, 34
Audi system, 77–79 distributed ledger technology, 33
Augmented reality (AR), 28 drawbacks, 35
Apple and Microsoft, 62–64 electronic cash, 33–34
automotive, 66–67 energy industry, 42–43
big data, 62 financial services, 41–42
BMW experiments, 64 IBM and Maersk, 37–39
cons, 69 and IoT network, 57–59
education, 67–69 market size and growth, 36
government, 65–66 music industry, 40–41
IKEA promotional techniques, order of ledger entries, 34
64–65 R3 Blockchain consortium, 39–40
market size and growth, 61–62 retail sector, 43
techniques, 61 SWIFT Global Payments
Automotive Innovation, 39
artificial intelligence, 114–115 telecom sector, 44
186 Index

Brand awareness, social media Blockchain technology (see


engaging content sharing, 19 Blockchain technology)
posts schedule, 19–20 IoT network (see Internet of Things
rewards program, 20–21 network)
social network selection, 18–19 virtual reality (see Virtual reality)
social proof, 20 Consciousness, 105
tone of voice, 19 Consumer Packaged Goods (CPG), 6
Business content engagement Contact management, 25
future trends, 16 Content marketing, 2, 11–12
industry news, 17 Cost structure, BMC, 172–173, 177
inspirational stories and case Cultural change, 8–9
studies, 17 Customer behavior tracking, artificial
leadership, 17 intelligence, 111
LinkedIn Pulse articles, 17 Customer relationship management
opinion/viewpoint posts, 16 (CRM)
personal career advice, 17 communication channels, 25
practical tips, 17 contact management, 25
research and reference content, 17 function, 24
technology developments, 16 goals, 24–25
in vogue topics/brands, 17 marketing automation integration,
Business model canvas (BMC), 154 24
after digital transformation, sales automation, 25
177–180 task/workflow management, 25
building blocks, 165, 166 users, 23–24
channels, 170–171, 175 Customer relationships, BMC, 171,
competitive advantage, 167–169 175
cost structure, 172–173, 177 Customer segments, BMC, 170,
customer relationships, 171, 175 174
customer segments, 170, 174 Customer service, robotics, 141–142
entrepreneurs and intrapreneurs, Cybersecurity, IoT network, 49
166–167
key activities, 172, 176–177 Deep learning, 147
key partners, 172, 176 Defense Advanced Research Agency
resources, 171–172, 176 (DARPA), 140
revenue streams, 171, 175–176 Digital intensity, 5, 30
value proposition, 170, 173–174 Digital maturity
Business transformation, 1 banking, 7
consumer packaged goods, 6
Channels, BMC, 170–171, 175 digital intensity, 5
Chief Information Officers (CIOs), high-tech, 7
14 insurance, 6
Communication channels, 25 manufacturing, 6
Compounded annual growth rate pharmaceuticals, 5–6
(CAGR), 36 retail, 7
Compromised protocol, blockchain, telecom, 6–7
35 transformation management
Connectivity technologies intensity, 5
augmented reality (see Augmented travel and hospitality, 7
reality) utilities, 6
Index 187

Digital transformation Distributed ledger technology (DLT),


big data, 21–23 33
business transformation, 1 Driftscape, 82
C-level management, 10–11 Drones, 28–29
CRM and marketing automation, Amazon, 122
23–26 artificial intelligence, 128–129
cultural change, 8–9 big data, 119–120
digital maturity, 5–8 categories, 118
engagement, 2, 11–12 civilian drones, 118
engaging forms of B2B content, education, 125–126
15–15 farming and agricultural research,
social media, 2–3, 12–14 124
strategic transformation, 4 “last mile” delivery system,
technology, 3, 14–15 120–121
Westerman’s MIT Sloan Initiative, marketing and media, 126
3 Matternet, 122–123
Digital transformation planning photography and filmmaking,
BMW 124–125
data and analytics, 157 police and security, 127
design, 156 schools and playgrounds,
implementation, 157 127–128
launch, 157 town planning, 127
planning phase, 156–157 unmanned aerial vehicle, 117–118
series production phase,
157–158 E-commerce, 115–116
business IT alignment Education
benefit, 151 artificial intelligence, 113–114
challenge, 150–151 augmented reality, 67–69
traditional IT structure, 150 drones, 125–126
business model canvas, 165–167 Electronic cash, 33–34
cloud question, 152 E-mail marketing, 26
competitors, 151–152 Energy industry, blockchain
holistic, 153–156 technology, 42–43
IT and business relationship, 153 E-tourism, 82
IT expense, 152
IT talent, 152
regulatory and compliance needs, Farming, drones, 124
152 Filmmaking, drones, 124–125
SOSTAC methodology Financial services
action, 164 blockchain technology, 41–42
brown paper session, 159 robotics, 142
control, 164–165 Flying hotels, 82
objectives, 160–161 4G-based wireless protocol system,
situation analysis, 160 137
strategy, 161–163
tactics, 163–164 Google 360 Virtual Tour, 73
Distributed denial of service (DDoS), Google Glasses, 63–64
58 Google’s DeepMind, 107
188 Index

Health care sector Lost/stolen private keys, blockchain,


artificial intelligence, 108–109, 113 35
IoT network, 48, 56 Lufthansa, 76–77
robotics, 142
Holistic digital transformation plan, Machine learning (ML), 134–135
153–156 Manufacturing
HoloLens, 63 digital maturity, 6
Home furnishings, virtual reality, 81 robotics, 140–141
Human resources, artificial 3D printing, 91–92
intelligence, 114 Marketing automation, 14–15
A/B testing, 26
IKEA promotional techniques, 64–65 E-mail marketing, 26
Industrial Internet of Things (IIoT) function, 24
network, 27 goals, 24
Insurance, 6 lead management, 26
Intelligence technologies market segmentation, 26
3D printing (see 3D printing) users, 23–24
artificial intelligence (see Artificial Marketing-qualified leads (MQLs),
intelligence) 24
drones (see Drones) Market segmentation, 26
Interactive content, 13 Maserati, 138–139
International Federation of Robotics Matternet, 122–123
(IFR), 109–110 Medical industry
Internet of Things (IoT) network, 27 3D printing, 100
ABB Robotics, 51–52 virtual reality, 76
autonomous vehicles, 52–53 Music industry, blockchain
benefits, 48 technology, 40–41
big data, 50
and blockchain technology, 57–59 Ocado warehouse, 136–138
cost of computation, 55–56 Off-grid retreats, 82
drawbacks, 48–49 Offline merging with online (OMO),
global revenue opportunities, 47 112
health care industry, 56 Organizational change, 1
household device, 46
industrial internet, 56–57 Personalization, artificial intelligence,
market size and growth, 49–50 112
Rolls-Royce, 51 Photography, drones, 124–125
self-service analytics, 56 Practical learning, augmented reality,
smart city projects, 53–55 69
utility grids, 47 Pricewaterhouse Coopers (PwC)
wearable devices, 47 3D printing, 28
Inventory management, artificial artificial intelligence, 28
intelligence, 111 augmented reality, 28
IPSoft, 107 blockchain, 27
drones, 28–29
“Last mile” delivery system, 120–121 internet of things network, 27
Lead management, 26 robotics, 29
Liability, IoT network, 49 virtual reality, 28
Index 189

Privacy, IoT network, 48 action, 164


Proof of concept (PoC), 39 brown paper session, 159
control, 164–165
R3 Blockchain consortium, 39–40 marketing models, 181
Reinforcement learning, 135, 146 objectives, 160–161
Retail sector, 7 situation analysis, 160
artificial intelligence, 110–112 strategy
blockchain technology, 43 branding, 163
Revenue streams, BMC, 171, digital core activities, 162
175–176 engagement and exposure, 163
Robotics, 29 positioning, 162
agriculture, 142–143 segmenting and targeting, 162
artificial intelligence, 144–147 technology and data, 163
big data, 134–136 value proposition, 162
bipedal walking “partner robot,” tactics, 163–164
132 Spatial augmented reality, 61
customer service, 141–142 Stratasys Infinite Build system, 92–93
financial services, 142 Strategic transformation, 4
health care, 142 Supervised learning, 146
industrial robotics Supply chain management, artificial
automation types, 132 intelligence, 112
benefits, 132–133 SWIFT Global Payments Innovation
market size and growth, (GPI), 39
133–134 Swift International Banking
manufacturing, 140–141 Operations Seminar (SIBOS),
Maserati, 138–139 39
Ocado warehouse, 136–138
packaging and shipping, 141 Task/workflow management, 25
transportation, 140 Technology, 3, 14–15
Telecom, 6–7
Sales automation, 25 Telecom sector, blockchain
Sales-qualified leads (SQLs), 24 technology, 44
Seasonal content, 13 Theater, virtual reality, 83
Security Theft prevention, artificial
artificial intelligence, 113 intelligence, 112
drones, 127 3D printing, 28
Self-service analytics, IoT network, 56 3D printed heart, 94–96
Semisupervised machine learning, 146 3D printer, 90
Social media, 12 agile manufacturing, 91–92
analytics, 14 automotive, 100, 101
brand affinity, 14 cons, 99
brand awareness, 18–21 construction, 99–100
interactive and seasonal content, 13 Contour Crafting, 98
relationships building, 12–13 custom-made organs, 95
social engagement creation, 18 Ford Motor Co., 92–94
value-added content, 13 market size and growth, 90
Social proof, 20 materials, 98
SOSTAC methodology, 154–155 medical industry, 100
190 Index

pros, 99 Virtual reality (VR), 28


rapid prototyping, 89 Audi system, 77–79
time-saving method, 96–97 augmented reality, 84–87
working principle, 97 benefits, 72–73
Town planning, drones, 127 collaboration, 74
Traditional IT structure, 150 conferences and trade shows, 75
Transformation management drawbacks, 73
intensity, 5, 30 entertainment, 83
Transportation, robotics, 140 headsets, 71–72
TripAdvisor, 82 interior design, 75
Lufthansa, 76–77
Ujo music, 41 marketing, 74
Underpowered network, blockchain, medical, 76
35 military, 75
Unmanned aerial vehicle (UAV), real estate, 75–76
117–118 retail, 80–81
Unsupervised machine learning, 146 sales aids, 74
UPS integrad facilities, 79–80 shopping, 75
training materials, 74
Value proposition, BMC, 170, travel, 81–82
173–174 UPS integrad facilities, 79–80
Video games, virtual reality, 83 Virtual theme parks, 83
Virtual meetings, virtual reality, 72 Visual search, artificial intelligence,
Virtual museums, 83 112