2019 is going to be a very different year than the past few years. 2017 was a “pedal to the metal” year where almost all were making forward momentum with digital. 2018 started strong, but there was a shift to “steady speed” over acceleration. Many economic experts are now predicting a slight dip in growth which means businesses will be hovering their foot above the brake pedal just in case the turmoil in the markets takes a sharp turn. What does this mean for business investment in Digital? This blog will be my best shot at predicting the likely trends.
April 7, 2008
James Sinur
Analytics/Big Data
Artificial Intelligence (AI)
Business Process Management (BPM)
Digital Transformation (DX)
Articles by: James Sinur
Mounting Pressure for Better Decisions
We are in a perfect storm for making great decisions and nothing less. There are converging forces that put a premium on better decisions in that organizations are being asked for more in a changing world. At the same time the number of assists that are available to boost better decision making are also emerging quickly. What are these forces and boosts to increase an organization’s ability to make better at the minimum and great decisions at a maximum? The coming decision wars will be at the forefront of success going forward for organizations and individuals.
Forces Affecting Decisions:
Business Contexts Shifting Faster
No More AI Winters: Really!!
History teaches us that there were two large AI Winters in the past. One starting in the mid 1970s and another in the late 1980’s There were very clear reasons for the last two AI Winters, but most of the technical and cost issues are gone. The wild card is how humans accept AI this time around. My bet is against another brutal winter. This does not mean there won’t be cold snaps, but a 15-20 year freeze out doesn’t seem likely now.
The First AI Winter:
It was caused by a couple of major factors. The first and foremost was the lack of computer power. The examples that were put forward were “toy” solutions that really did not appeal to the investors at all. This set off a period of infighting about Natural Language Processing (NLP) in the AI community which scared off the investors for a long time.
The Second AI Winter:
The Future of Digital Business
The top three digital destinations are new business opportunities, better customer loyalty and better business results.
No organization is too big to fail. The avg tenure of a S&P 500 company is forecast to shrink to 14 years by 2026. Large companies are feeling the pressure from customers and competitors to “go digital” more and more everyday.
It starts with digital mini journeys.
Register for this webcast to find out what the top ten fool proof digital mini journeys are.