E3-E4

MANAGEMEN
T
INDUSTRY DRIVEN TRANSFORMATION
 LEARNING OBJECTIVES

 What happens when your company digitally transforms?

 Why industries have shifted to tech enabled
transformation?
 Changing dynamics in industries
 Faster-moving ecosystems of customers and suppliers
 Digital disrupters
 The digital transformation of industries

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 LEARNING OBJECTIVES

 The transformative power of technology

 Digital transformation: value at stake for society and industry
 Examples of digital transformation in marketing

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 INTRODUCTION
• It is the process of analysing customer needs and leveraging
technology to improve the end-user experience.

• Digital transformation is about evolving the business by

experimenting with new technology and rethinking the
current approach to common issues

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 Some Questions
• Are You Digitally Mature?
• How Far are you into Your Digital Transformation
journey?
• Have You struggled to achieve your ambitions?
• Do You know Where to begin?
• Industry is Transforming but the transformation is
hard.

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 KEY DIGITAL TRANSFORMATION
PRIORITIES

• 75% making sense of data utilizing, AI 74%

fostering collaboration, 71% increased safety
and real-time visualization through Advanced
Process cyber security capabilities and
Engineering design.

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 Reality

• 81% digital projects either fails or suffer

delays, or gets scaled back
• 86% Of businesses have been prevented from
pursuing new transformation projects
• 42% Are behind schedule or at risk of falling
behind

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 How to optimize your digital
transformation return on investment?

• Seamlessly share data and insights across

multiple platforms.
• Respond to unforeseen events automatically
with highly adaptive implementations
• Mitigate risk and protect critical data with
stringent cyber security approaches.
• Back your investment with a multidisciplinary
ecosystem of technology partners.

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 WHAT HAPPENS WHEN COMPANY
DIGITALLY TRANSFORMS?

• Value chains: become digital nervous systems

that can quickly adapt to market conditions
• Your brand: remains customer-centric.
• Products: become information streams
enabling transparency and traceability across
the design-to-dispose lifecycle

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d) Workers: become problem solvers who bring
judgment, imagination, and improvisation for
agility and innovation
e) Work processes: become information loops
enabling closed-loop feedback, precision control,
and continuous improvement
f) Physical assets: become information appliances
that are self-aware and increasingly autonomous

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 WHY INDUSTRIES HAVE SHIFTED TO TECH
ENABLED TRANSFORMATION ?
• Shifting market dynamics and rising
competition compel industrial companies to
overhaul their organizations to harness
technology.
• The FAANG (Facebook, Amazon, Apple,
Netflix, and Google) and BAT (Baidu, Alibaba,
and Tencent) companies, for example, are
regularly resetting the bar for how businesses
engage with their customers and suppliers

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 CHANGING DYNAMICS IN INDUSTRIES

There are three factors which are reshaping

the industrial sector.
a) A changing workforce
b) Faster-moving ecosystems of customers
and suppliers
c) Digital disrupters.

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Transformation of Industries (DTI) is a project
launched by the World Economic Forum in 2015
as part of the Future of the Internet Global
Challenge Initiative.
It is an ongoing initiative that serves as the focal
point for new opportunities and themes arising
from latest developments and trends from the
digitalization of business and society.
It supports the Forum’s broader activity around
the theme of the FOURTH INDUSTRIAL
REVOLUTION
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 THE DIGITAL TRANSFORMATION OF
INDUSTRIES

Rapid advances in digital technology are redefining

society.
Digital transformation provides industry with
unparalleled opportunities for value creation. It used to
take Fortune 500 companies an average of 20 years to
reach a billion dollar valuation; today’s digital start-ups
are getting there in 04 years.

Digital technologies are creating new profit pools by

transforming customer expectations

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At the same time, digitalization could produce
benefits for society that equal, or even surpass,
the value created for industry.
Further increases in life expectancy are at risk
without resolving the growing cost structures of
overburdened health systems
Moreover, organizations do not always
understand what impact their digital initiatives
will have on different aspects of society.

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 THE TRANSFORMATIVE POWER OF
TECHNOLOGY

The cost of advanced technologies is also plummeting.

Consider just one example: a top-of-the-range drone cost
$100,000 in 2007; in 2015 a model with similar
specifications could be bought for $500.
Sophisticated artificial intelligence devices are mass-market
and better known as personal assistants by names of Alexa.
The combination effects of these technologies – mobile,
cloud, artificial intelligence, sensors and analytics among
others – are accelerating progress exponentially

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 INDUSTRY DIGITAL INITIATIVES IDENTIFIED IN
PHASE 1 OF THE DTI PROJECT

Media - Ex.Personalized Advertising.

Health - Ex. Robotics
Logistics - Ex. Drones, 3D Printing
Automotive -Ex. Self-driving
Electricity - Ex.Real-time Supply and Demand
Platform
Consumer - Ex E-commerce , Smart Factories

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 AUTOMOTIVE

• Driverless cars will be significant in

automotive in the long term, but even
with falling technology costs, adoption
rates make it unlikely that autonomous
vehicles will form a major proportion of
car sales within the next decade

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 CONSUMER

• We have identified four digital transformation

themes – consumer data flow and value
capture, experience economy, Omni-channel
retail and digital operating
• Time savings from shopping online and fewer
single-driver cars on the road, coupled with
alternative last-mile delivery options such as
drones, can have a significant impact on
emissions.

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 ELECTRICITY

• In economies transitioning to a lower carbon,

more decentralized energy system, incentives
can be created by regulators and policy-makers
to optimize the electricity system.
• Our estimates of the societal benefits are
modest and include just three factors: value
creation to customers, reduction in carbon
emissions and net job creation.

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 LOGISTICS

• The largest impact of digitalization to the

logistics industry is likely to come from crowd
sourcing. It will allow newer entrants to grab a
share of the market from existing players.
As these platforms offer better rates,
convenience and real-time tracking.

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 MEDIA

• The media industry is already more digital than many

other industries, having been transformed by several
waves of innovation – desktop internet, mobile, social
and now, the Internet of Things.
• Intellectual property and regulatory frameworks have
not kept pace with customer behaviour, forcing the
industry to make a choice between defending
outdated frameworks and evolving legal and
commercial frameworks to better meet the needs of
customers.

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 HEALTHCARE

• We have identified four digital themes – smart

care, care anywhere, empowered care and
intelligent healthcare enterprise.
• For governments and policy leaders,
recommendations include liberating data
sources, investing in data standards and
infrastructure, and establishing inter-
operability requirements on a global level.

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 EXAMPLES OF DIGITAL TRANSFORMATION IN
MARKETING

• Digital transformation helps marketers connect with

individual customers In “Welcome to Marketing in the
Age of the Customer

• A combination of Smartphone ubiquity, electronic

payment systems, and apps designed to match
demand (consumers) to supply (gig workers) in real
time has created a world in which nearly anything you
might want is just a swipe and tap away, around the
clock.

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• With everything from pizza delivery to child
care now available at their fingertips,
customers are expecting more and more
companies and industries to embrace digital as
their primary means of doing business.
• For service departments, that means greater
expectations for 24/7 problem-solving on the
customer’s channel of choice. But it also means
greater opportunities to delight buyers and win
more business.
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 Self-service is a service agent’s
best friend

• The self-service portal is a great example.

AI plays a key role in the digital transformation of
service-
- Bringing artificial intelligence into service organization
is a prime example of the power of digital
transformation.
• When customer’s query is too complex for chatbot to
handle, natural language e processing helps to map
the question to the best available expert to resolve
the situation.

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• Examples of digital transformation in banking- Not so
long ago, the majority of transactions were handled in
person by bank tellers. Automated teller machines
(ATMs) came along and streamlined the basic
transaction process.
• Examples of digital transformation in insurance- Web-
and app-based self-service portals make it easy for
consumers to comparison , enrol in coverage, use
multiple agents and carriers for different types of
insurance (home, car, life, and so on), and file claims

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 CONCLUSION

• The Fourth Industrial Revolution has data analytics at

its core, and relies on innovations in fields such as
robotics, cyber-physical systems, digital twins, virtual
simulation, augmented reality, edge computing,
artificial intelligence and block-chain – innovations all
contributing to digital transformation.
• Examples of digital transformation in insurance- Web-
and app-based self-service portals make it easy for
consumers to comparison shop, enrol in coverage

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01/20/24