Digital Transformation is a broad topic and includes all forms of digital technology adoption. Most mid-size or large organizations recognize that digital transformation is a necessary and beneficial process, yet traditional companies have been slower than other industries to adopt technologies like artificial intelligence. There are many reasons why organizations have not prioritized digital transformation, but most experts agree that mass adoption will begin in the coming years. We believe mass adoption will flow out of a natural competitive desire and the need to realize new operational efficiency gains.
Bridge Digital focuses on traditional organizations because they're the ones who need us, and we need them. Without them, we'd lack essential things like food, water, clothing, and housing. However, many digital technology companies have focused on developing technology for industries like finance, e-commerce, consumers, and media. We believe it's finally time to introduce these exciting new technologies to traditional organizations.
A recent study by NewVantage found that 92.1% of organizations that invested in Big Data made a return on their investment. However, the U.S. Census found that only 2.8% of all U.S. Organizations are utilizing Machine Learning technologies. If you asked most business leaders, they would tell you that they desire to be data-driven. However, organizations are still not adopting machine learning technologies to drive advanced insights from their data.
We have learned that the greatest hindrance to digital transformation is not knowing where to start. Employees generally have had a bad experience with previous software implementations, so starting a new project can be overwhelming. Furthermore, terms like "Big Data," "Artificial Intelligence," "Machine Learning," or even "Digital Transformation" sound expensive and unrealistic.
For all the reasons above, we start by understanding the highest, most valuable goals and seek to understand the levers that can be pulled to move the needle as quickly as possible on the high-level goals.
High-Level Goal: Improve Cash Flow
Lever to Pull: Improve Inventory Turnover through AI-Optimized Demand Forecasting
Once we have alignment around the vision, goal, and quick-win opportunity, we dig into the details with those executing and develop a project plan with phases and goals. This process will gain alignment from leadership to those executing.
New software implementations are like large boats: they're hard to turn around, and everyone gets wet. We take a more nimble approach. We take time to study the existing environment and provide solutions tailored to its people. We are also opportunistic automators, always looking for ways to improve a process. By automating unnecessary manual processes, we ensure that a transformation is both practical and supported by the company's culture.
As soon as we celebrate a win, the leadership team will be excited to continue to pursue new change initiatives. The group that first adopted the new technology should now be our biggest advocates while we pursue additional transformation opportunities.
We must embrace our future by encouraging the normalization and demystification of technology. We all utilize artificial intelligence technologies every time we use our smartphones, but a well-designed user experience hides it from us. Learning from this model, we must spend as much time considering the people using the technology as we do the process or the technology itself.
If this sounds like something you could use, don't hesitate to reach out. We're excited to learn more about your organization.
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