DECEMBER 2018CIOAPPLICATIONSEUROPE.COM8IN MYopinionCONQUERING TECHNOLOGICAL TRANSFORMATIONlobal industries are in a frenzy to adopt new technologies to optimize business processes and outcomes. However, three major challenges hamper their transition to modern technologies. Roadblocks in Adoption of New Technologies1. Data integrity: while quality datasets are essential, accruing them is an arduous task. Businesses need to formulate a strategy to maintain the quality of the information and make artificial intelligence (AI) and other new technologies to work for them. They say Information is the new oil. Well if that's the case then integrity of the information is the service station to deliver the finished product.2. Cultural change: Many fear that AI-driven solution would replace humans, eating up their jobs. Amid the fears of AI disruption, industries, however, have attained efficiencies in numerous processes. The cultural change revolves around the clarity of the message about technological adoption. The message should highlight the role of technology in fulfilling a business purpose. When companies become resistant to change, obstacles proliferate rampantly. Recently, many businesses in U.K. and the U.S. went bankrupt and one of the reasons for this economical catastrophe, as many believe, is the lack of focus on digital transformation.3. Rampant technology innovation: Solution providers have been working hard to create products that unleash the potential of cutting-edge technologies (think IBM Watson.) I speak to leaders from many different companies every month, and most of them utilize algorithmic controls and procedures for adding business value to the existing processes. However, selecting a right application from a suite of technologies is a challenging task. My prediction is that the future we will see the formation of industry specific AI and Automation tooling that maximizes the value they create. For example, for an enterprise that seeks to enhance their finance function, it needs a vertical-specific AI tool that is proven to add value. In today's early adoption period automation tooling is trying to be all things to all verticals. This will change in the near term.Creating a Ground for ChangeI am the chairman of a group (NZ Tech Leaders) that creates guidance for both the government and private sectors. We created a list of Digital Principles that highlight essential factors in creating a winning digital strategy. One of them addresses the needs to create a culture of "Lifelong Learning". As the role of humans in parts of the organization is diminishing gradually we need to consider that an employee's loyalty is the new currency. This means that as we see increased fragmentation in the organization through integrations bringing value to the customers we need to ensure the longevity of our staff. It will be the knowledge of the employee which will really ensure that lessons are learnt and DAVID KENNEDY, GROUP CIO, TRANSACTION SERVICES GROUPG
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