Digital Transformation Is Not About Technology
A recent survey of directors, CEOs, and senior executives found that digital transformation (DT) risk is their #1 concern in 2019. Yet 70% of all DT initiatives do not reach their goals. Of the $1.3 trillion that was spent on DT last year, it was estimated that $900 billion went to waste. Why do some DT efforts succeed and others fail?
Fundamentally, it’s because most digital technologies provide possibilities for efficiency gains and customer intimacy. But if people lack the right mindset to change and the current organizational practices are flawed, DT will simply magnify those flaws. Five key lessons have helped us lead our organizations through digital transformations that succeeded.
HBR
Digital channels dominate how Canadians bank: CBA polling
New technologies are rapidly changing the way Canadians bank as more than three-quarters of Canadians (76 per cent) use digital channels to conduct most of their banking transactions, up from 68 per cent two years ago. This is among the many findings in How Canadians Bank, a recent survey of 4,000 Canadians commissioned by the Canadian Bankers Association (CBA).
CISION
3 lessons from Canada’s public service approach to creating a digital workforce
he Canadian federal government is attempting to implement a strategy to incorporate a more digitally-inclined workforce, and there are lessons to be learned for other organizations trying to do the same.
A whitepaper by Wendy Cukier, the director of the Diversity Institute at Ryerson University, published in collaboration with Amazon Web Services, outlines the struggles the government has faced so far and are likely to face in the future.
IT BUSINESS
Canadians in the lucrative global gaming and eSports market
You could be forgiven for thinking that the Canadian stock exchange covers nothing more than mining and cannabis stocks; however Canada has so much more. Canada has a thriving gaming industry. Canada’s gaming industry is diverse, from online gambling to fantasy football, and online multi-player first person shooter games.
INVESTOR INTEL
