The Future of Digital Transformation
The future of digital transformation is the future of business, the workforce and the world. On the recent podcast episode, FCCS Chief Learning Officer Jean Cantey Segal welcomed Future Point of View thought leader and speaker Scott Klososky, for a conversation about the future of digital transformation over the next five to ten years. Scott works to help companies understand how technology can be harnessed to create a bright and prosperous future, and he has joined this episode to share insights into what exactly companies can expect in the digital future, how to prepare for these rapidly approaching changes, and how to utilize technology to strengthen customer and company relationships.
“Technology in general will free humanity to be more human.” — Scott Klososky
Listen to the full episode.
The rapidly advancing pace of digital transformation
- The pandemic has played a significant role in speeding up the pace of the digital transformation.
- Today’s technology provided a foundation that kept businesses running during the shutdown.
- The pandemic also improved organization collaboration, communication and automation.
- Tools that were at our fingertips prior to the pandemic have been activated in meaningful ways.
Advice for the leaders in any organization
- The pace of change in technology can catch leaders off guard, but it doesn’t have to be that way.
- Leaders need to invest more time and energy in staying up-to-date on digital transformations.
- Board members are valued for their wisdom – this requires learning about foundational technologies and applying it to preexisting knowledge.
- Cybersecurity is a key threat that leaders need to be prepared for with playbooks and cyber insurance.
The future of the digital backbone and the digital halo
- The digital backbone refers to the core pieces of software that companies use to do business.
- Leaders need to consider how they are utilizing and modernizing their backbone.
- The digital backbone has grown in importance as a piece of an organization.
- A digital halo refers to the ability of a company to utilize technology to provide an exceptional customer experience.
- Seek the digital halo that your customers want to experience.
- The digital halo is critical today, and will be mandatory in the future.
Creating a personalized digital experience
- Companies need to use the gathered information about customers to create personalized experiences for them.
- Building a digital collection means utilizing the technology that enhances the customer relationship.
- There are plenty of options in the technology toolbox that can be used to the advantage of the business-customer relationship.
- Companies need to be mindful of what tools to use and when.
Changes to ag lending in the next 10 years
- There will not and should not be a quick return to in-office work.
- Collaboration software should continue to be used to improve company communication.
- High end human skills have to continue to mix with high end technology skills.
- In the future, more work will be done with less, but more powerful people.
- As automation continues to improve, customers will be able to do more with less company assistance, making strong relationships more important than ever.
- Relationships with borrowers will not change in the future- they will continue to be critical.
Navigating a VUCA world
- Companies today are faced with a volatile, uncertain, complex and ambiguity world.
- The digital transformation offers a complex world that many of us are not built to navigate well.
- Calm down! Forward thinking companies make sure their people take time for their health.
Rise of the centaur
- A centaur is a highly skilled human with high technology skills.
- Growing and developing centaurs is in the future of every company.
- Digital wellness is key to keeping centaurs healthy and happy at work.
- Companies need to be prepared to nurture and develop the centaurs of the future.
Scott’s forward thinking advice
- Take time to go off the grid
- Spend as much time with people as you do with screens.
- Identify areas that feel off balance and take the time to correct them.
Future Point of View