Digital transformation – Wikipedia
_________________________________________________________________________
The main talks on “Digital Transformation” are usually expounded by Government and Business Leaders on its various benefits and the transforming effects on the country economy and enterprises.
What is digital transformation?
Why does digital transformation matter?
What does a digital transformation framework look like?
What role does culture play in digital transformation?
What drives digital transformation?
How can I get started on digital transformation?
Where can I learn more?
I find the above are explained and answered quite beautifully in an article “Digital Transformation of Business and IT” posted on The Entreprisers Project.com, a community of CIOs discussing the future of business and IT.
—————————————————————————-
What about digital transformation on a personal level?
One of the enablers that has really transformed our lives in the last 60 years was the discovery and successful development of semiconductors and microchips.
In Saswato R. Das’s article, for New York Times, he described the microchip “The chip that changed the world“. A small electronic component that has caused one of most dramatic outpourings of technological progress in human history. It has unleashed change comparable to the Industrial Revolution by making the computer revolution and the digital age possible.
It literally transformed our lives into digital age since then.
Around 2008, a person (or group of people) known as Satoshi Nakamoto conceptualized Blockchain. A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. It was implemented the following year by Nakamoto as a core component of the cryptocurrency bitcoin, where it serves as the public ledger for all transactions on the network. Through the use of a blockchain, bitcoin became the first digital currency to solve the double spending problem without requiring a trusted authority and has been the inspiration for many additional applications.
Blockchain for 2018 and Beyond
Real-time is the new norm for enterprises and individuals
The Information Age (also known as the Computer Age, Digital Age, or New Media Age) is a period in human history characterized by the shift from traditional industry that the Industrial Revolution brought through industrialization, to an economy based on information technology.
The onset of the Information Age is associated with the Digital Revolution. The definition of what digital means (or what information means) continues to change over time as new technologies, user devices, methods of interaction with other humans and devices enter the domain of research, development and market launch.
During the Information Age, the phenomenon is that the digital industry creates a knowledge-based society surrounded by a high-tech global economy that spans over its influence on how the manufacturing throughout and the service sector operate in an efficient and convenient way.
In a commercialized society, the information industry is able to allow individuals to explore their personalized needs, therefore simplifying the procedure of making decisions for transactions and significantly lowering costs for both the producers and buyers.
Extract for Information Age – Wikipedia
The merging of needs for real time transactions between enterprises and enterprises and individuals become closer and closer, day by day.
“The digital transformations we see today has three common challenges:
- there is a need for a seamless form of interconnection among the parts that make up the solution.
- there is a need to move and understand a lot of information in real-time
- there is a increasing element of analysing and predicting what to do next.
The digital business is that it’s not just about enabling companies to operate more efficiently, but it’s also about giving the customer a richer experience.”
Murray Rode, CEO of TIBCO said in his keynot speech at the opening day of the TIBCO Now 2016 conference.
Since then, many enterprises and startups are jumping into this aspiration wagon to make it happen. It is a never ending work-in-progress.
Technology is reshaping the digital economy, and MIT’s Andrew McAfee tells Bloomberg that if today’s entrepreneurs don’t embrace machines, platforms, and crowds, they will be left behind by the ones who do.