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JULY 2018

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Flight Time

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75

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.