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JULY 2018
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Business Focus
here’s no doubt about it. Ten
years ago, the world was a
simpler place. Technologies
that are fast becoming part of
our everyday lives would, 10
years ago, have been more aligned with the
realms of science fiction or fantasy: straight out
of a film studio.
Right now we have intelligent cars
(remember KITT in
Knight Rider
? If you don’t,
Google it), talking tech within the household
(“Alexa, what’s the weather going to be like
today?”) and smart energy appliances that
organise the heating and cooling of your home,
whether you are home or away.
Current and emerging technologies such as
artificial intelligence (AI), augmented reality
(AR), virtual reality (VR), the internet of things
(IoT), robotics, 3-D printing, blockchain and
drones are fast becoming business as usual.
It’s not just your typical high-tech businesses
embracing these technologies. Adoption
is widespread, covering manufacturing,
engineering, retail, energy, media, healthcare,
agriculture, education, government, financial
services and transportation – to name but a few.
Aligned with all these new and emerging
technologies is, of course, the sheer volume of
data and insights they capacitate. The ‘big data’
aspect continues to prove challenging for many
organisations. After all, it’s one thing collecting
the enormous amount of data available to us;
it’s another to organise, prioritise and interpret
it in a way that facilitates useful insights and
timely competitive advantage.
Is it any wonder, then, that digital
transformation and all it entails is a hot topic on
the agenda of many C-suite discussions?
For the past 10 years, PwC has been
measuring digital IQ. In April 2017, they released
much the new kids on the block – still figuring
out how to create commercial impact. However,
a decade later, these social technologies,
along with others and together with mobile
technology, have totally evolved the way we
humans communicate. Whether we buy into it
or not, social technologies now totally pervade
our lives and already significantly impact how
humans and machines work together.
Whilst the PwC 10-year report highlights
I T ’ S NEVER BEEN MORE IMPORTANT FOR BUS I NESSES
TO ENGAGE WI TH SOC I AL MED I A – AND THAT MEANS
CEOS , TOO , SAYS MI CHELLE CARV I LL
It’s time to get
SOCIAL
T
“Whether we buy into it or not, social technologies
now totally pervade our lives and already significantly
impact how humans and machines work together”
their 10-year summary report,
A decade of digital:
keeping pace with transformation
.
In 2007, when their survey started, just 33
per cent of executives said their CEO was ‘a
champion for digital’ (
PwC, 2017
). Over the past
10 years that number has climbed to 68 per cent
today. In fact, today it would be challenging to
find an organisation, regardless of size or sector,
that does not consider digital technology to be
an integral element of their business strategy.
From a social media perspective, when the
digital IQ survey began back in 2007, Twitter,
LinkedIn, YouTube and Facebook were very
the increased awareness of the business value
associated with new technology adoption, it
also highlights that companies ‘have not adapted
quickly enough to stay ahead of constant
change’ (
PwC, 2017
).
In fact, confidence in ‘staying ahead’, rather
than continuing to increase, has dropped.
In PwC’s recent survey, only 52 per cent of
companies rated their digital IQ as strong.
However, in their previous survey it was 67 per
cent and, in the one before that, 66 per cent.
What is evident from these latest findings is
that there has been a marked decline.