Sudhanshu Duggal, a C-suite global transformation leader with a digital and business transformation track record, emphasizes the importance of preparing enterprises for the digital age. With the World Economic Forum predicting that 70% of new value created in the economy in the next decade will be based on digitally enabled platform business models, it is essential for businesses to adapt and remain relevant.
In order to navigate the unprecedented transformation happening in the global economy, enterprises need to reimagine their business models to respond to changing consumer preferences, macroeconomic conditions, and digital advancements. This involves reshaping the future of industries, functions, and work to ensure future success.
The key question facing enterprises is whether they are ready for the digital future that is already here. It is important for businesses to be aware of trends such as the internet era, social era, and current AI era in order to start the journey towards becoming future-ready.
Duggal outlines five steps that can help businesses build a future-ready enterprise in the digital and AI era. These steps include conducting a holistic organization assessment, focusing on digital technology and platform-centricity, ensuring data sufficiency and connected data streams, committing to upskilling and fluency building, and prioritizing sustainability, safety, diversity, inclusion, and ethics.
By following these steps, enterprises can create a strategic framework for future readiness that emphasizes adaptability, resilience, and agility. By investing in a skilled workforce, anticipating trends, and focusing on consumer needs, organizations can sustain a continuous cycle of innovation and stay ahead of the curve in the AI era.
Duggal also stresses the importance of constant innovation, staying connected with customers and users, and making a real impact in order to lead industries into the future. By embracing these strategies and remaining agile and relevant, enterprises can position themselves at the forefront of innovation and drive transformative impact in the digital age.
