5 Strategies to Avoid the Digital Riptide
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1) The document discusses 5 strategies to avoid being swept away by digital disruption and the "digital riptide": build a platform not just sell a product, focus on customer experiences over service, revolutionize rather than just improve processes, implement digital strategies before physical, and leverage machine intelligence over just big data. 2) Rapid technological changes are setting the stage for massive disruption in business. Companies need to innovate their digital strategies to take advantage of disruption rather than be disrupted. 3) Every organization is becoming a technology company as manual processes are replaced by algorithms, machine learning, and data-driven automation. Focusing on customers and using technology to enhance their experiences will help companies differentiate themselves.
![Every Company is a Technology
Company
"Domino's has become something
closer to a tech company that
sells pizza," [Dominos CEO
Patrick] Doyle says. "It has
amassed a team of about 250
technology employees at its Ann
Arbor, MI headquarters vs. about
50 tech employees just a decade
ago."](https://image.slidesharecdn.com/abbyy-170111202419/85/5-Strategies-to-Avoid-the-Digital-Riptide-33-320.jpg)
5 Strategies to Avoid the Digital Riptide
- 1. Welcome to the Future: 5 Strategies to Avoid the Digital Riptide John Mancini AIIM Chief Evangelist
- 4. What is a "riptide?" It's a powerful, channeled current of water flowing away from shore that can sweep even the strongest swimmer out to sea.
- 6. Rapid changes in technology are setting the stage for massive disruption. How can you avoid being “disrupted?” How can you use disruption to your advantage?
- 7. Interested in getting the latest updates on content management and digital transformation? Subscribe to the Digital Landfill blog by clicking HERE. SUBSCRIBE TODAY!
- 8. What does a Digital Riptide look like?
- 15. “Digital Disruption creates one hundred times the innovation power. That means you and your business are facing at least one hundred times the competitive threat. That’s two orders of magnitude more innovation power than before. Digital Disruption accelerates competing ideas even as it facilitates the entry of a previously impossible number and magnitude of ideas.” McQuivey, James. Digital Disruption: Unleashing the Next Wave of Innovation
- 16. Why now? What’s different?
- 18. “Computer scientist Martin Grötschel analyzed the speed with which a standard optimization problem could be solved by computers over the period 1988-2003. He documented a 43 million-fold improvement, which he broke down into two factors: faster processors and better algorithms embedded in software. Processor speeds improved by a factor of 1,000, but these gains were dwarfed by the algorithms, which got 43,000 times better over the same period.” Brynjolfsson, Erik; McAfee, Andrew. Race Against The Machine
- 20. How is all of this changing content management?
- 21. Interested in getting the latest updates on content management and digital transformation? Subscribe to the Digital Landfill blog by clicking HERE. SUBSCRIBE TODAY!
- 22. A growing realization: Information Capture is THE foundation for Digital Transformation. • 57% agree – “We are committed to digital transformation, and paper-free is an essential starting point.” • 72% agree – “Business at the speed of paper will be unacceptable in a few years’ time.” • AIIM’s Paper-free Progress: Measuring Outcomes
- 23. Digitalization is different than Digitization. • Most organizations are just scratching the surface of what they COULD do with capture. • 34% scan flat images only – 16% for workflow and 18% for archive. • Only 41% are using OCR in some form. • For most, it’s still a scan to archive game – more about getting rid of floor space than true “digitalization.” • AIIM’s Paper-free Progress: Measuring Outcomes
- 24. For most organizations, back-end processes are still a mess. • % of finance types answering “A lot of documents are processed as paper documents” • Accounts receivable = 38% • Financial close process = 40% • Accounts payable = 39% • Procurement and purchasing = 32% • Vendor management = 32%
- 25. 5 strategies to Avoid Digital Disruption.
- 26. “Riptide” thinking “Mainstream” thinking Build a platform Sell a product Customer experiences Customer service Revolutionized processes Improved processes Digital, THEN physical Physical, THEN digital Machine intelligence Big data
- 27. UBER TINDER BIRCHBOX AIRBNB DOGS WAG! BARKBUDDY BARKBOX DOGVACAY FOOD POSTMATES NIBBLY BLUE APRON EATWITH WORKSPACE BREATHER SPARE CHAIR ALCOHOL MINIBAR GLASSFUL STORAGE CLUTTER ROOST BEARDS BRISTLR $ BEARD CLUB PARKING MONKEY PARKING SPOT PARK LAUNDRY WASHIO LAUNDROMATCH
- 28. “There are now 30 companies involved in the development of autonomous vehicles.” Sam Shead, Business Insider
- 29. “In less than two years, Slack turned itself into a massively popular business-messaging app worth $2.8 billion. Now, Slack wants to be more than just a work-messaging app. It wants to be a broader platform that grows its software into a central hub for all work communications.” BusinessInsider.com
- 31. “Riptide” thinking “Mainstream” thinking Build a platform Sell a product Customer experiences Customer service Revolutionized processes Improved processes Digital, THEN physical Physical, THEN digital Machine intelligence Big data
- 32. “Dash simplifies the customer’s experience by abstracting digital complexity and distilling that experience into the push of a button. It also shields shoppers’ eyes from competing brands, effectively locking in loyalty.” David Aponovich Amazon says it now has over 100 buttons available, and orders have increased by more than 75 percent in the last three months.
- 33. Every Company is a Technology Company "Domino's has become something closer to a tech company that sells pizza," [Dominos CEO Patrick] Doyle says. "It has amassed a team of about 250 technology employees at its Ann Arbor, MI headquarters vs. about 50 tech employees just a decade ago."
- 34. 1. What do customers love about my brand that others can’t offer? 2. How can I deliver a unique digital experience that goes beyond the typical (in this case, the traditional website shopping process)? 3. How can I leverage technology to make the customer experience more convenient, compelling or satisfying? 4. How can I differentiate beyond my product by introducing innovative new ways to engage with customers and keep them happy? David Aponovich -- http://www.cmswire.com/author/david- aponovich/
- 35. “Riptide” thinking “Mainstream” thinking Build a platform Sell a product Customer experiences Customer service Revolutionized processes Improved processes Digital, THEN physical Physical, THEN digital Machine intelligence Big data
- 36. “...the manual management of business processes will become antiquated as technology starts managing at scale. Everything at scale in this world will be managed by algorithms and data.” Joseph Sirosh, corporate VP of the Data Group at Microsoft
- 38. “Riptide” thinking “Mainstream” thinking Build a platform Sell a product Customer experiences Customer service Revolutionized processes Improved processes Digital, THEN physical Physical, THEN digital Machine intelligence Big data
- 39. “In 2013, Fujitsu introduced GyuHo SaaS, a cloud-based system for dairy farmers that helps track the health of their herds through Wi-Fi connected pedometers— essentially giant Fitbits for cows. The time and movement data can help farmers not only track the general health of cattle, but can also help track when cows are going into estrus (a condition more commonly known as "heat").” The Internet of Cows: Azure-powered pedometers get dairies mooovin’
- 40. Aquino, Latimore carry Bowie to 6-0 victory over Akron BOWIE, Md. (AP) — Jayson Aquino tossed a three-hit shutout and Quincy Latimore had three hits and two RBI, as the Bowie Baysox topped the Akron RubberDucks 6-0 in the first game of a doubleheader on Sunday. Aquino (3-4) struck out eight and walked two to get the win. Bowie started the scoring in the first inning when Henry Urrutia hit an RBI single and Latimore hit an RBI double. The Baysox later added two runs in the fourth and one in the fifth and sixth to finish off the shutout. Shawn Morimando (9-1) went 4 2/3 innings, allowing five runs and 10 hits in the Eastern League game. He also struck out three and walked one. Joe Sever doubled and singled for the RubberDucks. Akron was blanked for the third time this season, while the Bowie staff recorded its third shutout of the year.
- 43. “Riptide” thinking “Mainstream” thinking Build a platform Sell a product Customer experiences Customer service Revolutionized processes Improved processes Digital, THEN physical Physical, THEN digital Machine intelligence Big data
- 44. Source: AI, Deep Learning, and Machine Learning: A Primer Machine Intelligence üReasoning üPlanning and navigation üNatural language processing üKnowledge representation üPerception üGeneralized intelligence
- 45. Source: AI, Deep Learning, and Machine Learning: A Primer
- 46. Source: AI, Deep Learning, and Machine Learning: A Primer
- 47. A closing thought – Start looking beyond immediate disruption.
- 48. Find out more about what it means to be an “Information Professional.” Click here for my free e-book: What is the new role of an Information Professional?
- 49. How content is created and captured NOW will have a direct bearing on how “machine processable” it ultimately will be in the future.
- 50. Organizations need a strategy to frame how they look at the long-term, but the flexibility to adopt it to solve immediate business process problems.
- 51. Organizations can’t do this all at once without drowning; they need to figure out ways to do this in steps.
- 52. Who provides the adult supervision to manage the chaos?
- 54. “Any sufficiently advanced technology is indistinguishable from magic.” Arthur C. Clarke How can we help? John Mancini, Chief Evangelist, AIIM @jmancini77
- 55. Interested in getting the latest updates on content management and digital transformation? Subscribe to the Digital Landfill blog by clicking HERE. SUBSCRIBE TODAY!