WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
Going digital in your business? I select the best posts and highlight the reasons why it matters. Like it? Click "recommend" + register to get the digest in your inbox: http://fmcs.digital/newsletter-signup/
Curated by Farid Mheir
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Successful digital transformations require innovation and the best way to to partner with startups - @McKinsey suggests there are multiple ways to partner and they are right #digitalTransformation ...

Successful digital transformations require innovation and the best way to to partner with startups - @McKinsey suggests there are multiple ways to partner and they are right #digitalTransformation ... | WHY IT MATTERS: Digital Transformation | Scoop.it

Once prospective partners in the ecosystem have been identified, there are a variety of ways to work with them, ranging from collaborations that involve a limited financial commitment to outright acquisitions.

Farid Mheir's insight:

WHY IT MATTERS: large organizations are not structured to deliver on the innovation that digital transformations required. Partnering with startups is thus the way to go.

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Digital Center of Competence must have 3 roles for successful digital transformations: align, build and network - according to @McKinsey

Digital Center of Competence must have 3 roles for successful digital transformations: align, build and network - according to @McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it

The digital center of competence (DCoC) is responsible for setting direction and ensuring that learning is widely shared. In this structure, the competence center does not have P&L responsibilities, but it does have its own budget, and each business unit (BU) owns its own internal digital initiatives. The DCoC assumes three important functions to develop products and services, build skills across BUs, and create external networks.

Farid Mheir's insight:

WHY IT MATTERS: when you create a digital center of competence (which McKinsey suggests and I agree in most organizations), then you must equip it with a budget (seems obvious but rarely is) and give it a goal to DELIVER (not just strategize or think, which is often the case). This is the only way you can have the DCOC be owner of its future and the transformation that comes with it.

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Vezta & Co.'s curator insight, September 8, 12:49 PM

WHY IT MATTERS: when you create a digital center of competence (which McKinsey suggests and I agree in most organizations), then you must equip it with a budget (seems obvious but rarely is) and give it a goal to DELIVER (not just strategize or think, which is often the case). This is the only way you can have the DCOC be owner of its future and the transformation that comes with it.

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Quebec ministry of economic development has released an industry 4.0 digital transformation framework to guide manufacturing companies #goodJob #MESI @economie_quebec

Quebec ministry of economic development has released an industry 4.0 digital transformation framework to guide manufacturing companies #goodJob #MESI @economie_quebec | WHY IT MATTERS: Digital Transformation | Scoop.it

L’avènement de l’industrie 4.0 modifie les façons de faire des entreprises. Le numérique vient non seulement transformer les systèmes et les processus, mais apporte aussi des changements au sein des différentes fonctions de gestion d’entreprise. Afin de rester concurrentielles, tant les PME que les grandes organisations doivent se tourner vers les nouvelles technologies.

Farid Mheir's insight:

WHY IT MATTERS: manufacturing industry has labelled digital transformation efforts as "industry 4.0" and governments such as Quebec are providing guidance to small and medium businesses on how to do it. Well worth the read.

A direct link to the framework is here (in french): Feuille de route industrie 4.0

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3 governance models for successful digital transformations according to @McKinsey tracks with what others think as well #digitalTransformation

3 governance models for successful digital transformations according to @McKinsey tracks with what others think as well #digitalTransformation | WHY IT MATTERS: Digital Transformation | Scoop.it

In our experience, businesses are most successful in pushing through a digital transformation by organizing around one of three primary archetypes.

Farid Mheir's insight:

WHY IT MATTERS: digital transformation governance remains tricky enough to require a center of excellence in certain cases. This tracks with previous post from Bain here: http://fmcs.digital/blog/organizing-for-a-digital-world-bain-brief-bain-company/ 

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McKinsey defines 6 elements for successful digital transformations for automotive suppliers - are other industries so different? #dontThinkSo #digitalTransformation @McKinsey

McKinsey defines 6 elements for successful digital transformations for automotive suppliers - are other industries so different? #dontThinkSo #digitalTransformation @McKinsey | WHY IT MATTERS: Digital Transformation | Scoop.it

In our experience working with automotive suppliers, we have learned that successful digital transformations should be well designed and soundly executed across six core areas (Exhibit 1). Central to the success of the transformation is being clear about the impact each of the six areas has on the others and understanding the key dependencies across all of them.

Farid Mheir's insight:

WHY IT MATTERS: digital transformation success is not about technology. I agree.

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Aim HIGH: I fear for my clients because their digital transformation is not BOLD enough - according to @McKinsey this will erode profit and revenue growth

Aim HIGH: I fear for my clients because their digital transformation is not BOLD enough - according to @McKinsey this will erode profit and revenue growth | WHY IT MATTERS: Digital Transformation | Scoop.it

As digital technology erodes profit and revenue growth, why aren’t companies responding with bold strategies?

Farid Mheir's insight:

WHY IT MATTERS: I often will recommend BOLD moves for digital strategies of my clients: automate entire departments, move everything to the cloud, go mobile-first, go AI-first, etc. It is disappointing to see them take more timid approaches: keep on-premise systems and slowly move to cloud, stay away from ecommerce so as not to deal with logistics issues, build a "store of the future" with a few screens and survey kiosks, etc. 

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A twist on the people+process+technology: digital transformation requires culture+strategy+technology

A twist on the people+process+technology: digital transformation requires culture+strategy+technology | WHY IT MATTERS: Digital Transformation | Scoop.it

Many of the companies I work with are undergoing some form of a “Digital Transformation” to ensure they stay competitive and relevant into the future. These big, transformational changes are very hard and require far more than an investment in new technologies. They require a clear and solid strategy for how technology can be used to transform the business and provide better customer experiences, a culture that embraces change and collaborates heavily, and the technology capabilities to execute the strategy quickly and efficiently. Otherwise, these digital transformation initiatives will end up just like the failed ERP projects of the past we’ve all heard about or been a part of.

Farid Mheir's insight:

WHY IT MATTERS: a reminder that digital transformation is not only about technology...

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You need an #Innovation labs to stay in business today - a review of 70 corporations that have setup a lab in recent years

You need an #Innovation labs to stay in business today - a review of 70 corporations that have setup a lab in recent years | WHY IT MATTERS: Digital Transformation | Scoop.it

Innovation is critical for established companies to stay relevant in the face of disruption. Here's our list of corporate innovation labs.

Farid Mheir's insight:

WHY IT MATTERS: everyone asks how they change do digital transformation. For one thing, setting up an independent lab can be a good place to start.

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Compare your company's digital maturity with others in your industry with this interactive tool from @MIT @Deloitte

Compare your company's digital maturity with others in your industry with this interactive tool from @MIT @Deloitte | WHY IT MATTERS: Digital Transformation | Scoop.it

In the 2018 Digital Business Report, MIT SMR and Deloitte find that digitally maturing organizations encourage distributed leadership and a healthy appetite for experimentation.

Farid Mheir's insight:

WHY IT MATTERS: digital transformation allows companies to mature in their use of digital in the organization. This MIT research survey provides an interactive tool to compare yourself against others in your industry.

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8 videos that demonstrate the digital transformation in manufacturing #DigitalThread @MIT @MITSloan @Deloitte

8 videos that demonstrate the digital transformation in manufacturing #DigitalThread @MIT @MITSloan @Deloitte | WHY IT MATTERS: Digital Transformation | Scoop.it

A new video series from MIT Sloan Management Review and Deloitte Insights follows the creation of an aviation part as it moves along the “digital thread,” creating a growing knowledge base of data and feedback as it evolves from design to final testing.

Farid Mheir's insight:

WHY IT MATTERS: a 9 part video series that shows what digital transformation means in the context of an airplane part fabrication from ideation/creation to production. It puts digital transformation concepts in practice with real-life examples.

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Blockchain is more than Bitcoin: exploring a plethora of non-financial use cases #Blockchain #bitcoin @Cognizant

Blockchain is more than Bitcoin: exploring a plethora of non-financial use cases #Blockchain #bitcoin @Cognizant | WHY IT MATTERS: Digital Transformation | Scoop.it

Blockchain disruptive nature is derived from its ability to transform almost any process, from basic documentation to settling complex contracts across geographies.

Farid Mheir's insight:

WHY IT MATTERS: we focus on the financial use cases of the blockchain. However there are many more - and potentially more important - use cases for blockchain outside payment and financial transactions. They must be considered careful by anymore preparing a digital strategy today.

Also:

- more recent infographics (2018): https://www.reddit.com/r/CryptoCurrency/comments/7y2zld/infographic_use_cases_for_blockchain/

- another list: https://www.experfy.com/blog/blockchain-use-cases-that-have-potential-to-disrupt-society

- other financial use cases explained: https://hackernoon.com/popular-use-cases-of-blockchain-technology-you-need-to-know-df4e1905d373 

- slideshare presentation: https://www.slideshare.net/IBTSMG/blockchain-use-cases-75417476 

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Will robots completely replace humans from textile factory floors? sewBots is a new #robots that can #manufacture a t-shirt in half the time of a human HT @ADumas

Will robots completely replace humans from textile factory floors? sewBots is a new #robots that can #manufacture a t-shirt in half the time of a human HT @ADumas | WHY IT MATTERS: Digital Transformation | Scoop.it

A lot of the work that goes into making a t-shirt or a pair of jeans has been automated, except for cutting and sewing. Now machines are taking over one of these last surviving manual jobs, which humans have performed for hundreds of years.

Farid Mheir's insight:

WHY IT MATTERS: the USA will bring back manufacturing from emerging countries - but it will not bring back jobs. This article is one more example of this trend: robots are now cheaper, faster, and generally better than humans at doing repetitive tasks. So much so that robots can manufacture clothes better than humans can. See the videos here: http://softwearautomation.com/digital-t-shirt-workline/

They say factories of the (near) future will have only one employee and one dog: the dog is there to keep humans out of the building, and the human is there to feed the dog! ;-).

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3M #Robots in 2020, 40B$ industry, they are used mostly in auto+phone #manufacturing but we should expect more industries to use them in near future #stats #china

3M #Robots in 2020, 40B$ industry, they are used mostly in auto+phone #manufacturing but we should expect more industries to use them in near future #stats #china | WHY IT MATTERS: Digital Transformation | Scoop.it

International Federation of Robotics presentation.

Farid Mheir's insight:

WHY IT MATTERS: robots present a solution for the skilled labour shortage and requirements to cut production times and reduce costs in an era of personalization. Read the report for more data.

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Dock and door systems's curator insight, January 8, 5:42 AM

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The five most amazing things that were 3-D-printed this year show that #3Dprinting is ready to move from prototyping towards production

The five most amazing things that were 3-D-printed this year show that #3Dprinting is ready to move from prototyping towards production | WHY IT MATTERS: Digital Transformation | Scoop.it
Each of these items gives us clues to what the future of manufacturing might look like.
Farid Mheir's insight:

WHY IT MATTERS: 3D printing has the potential to disrupt industries when it can manufacture products at scale and low cost. We are closer to this vision.

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Impact of the Fourth Industrial Revolution on Supply Chains HT @JimMarous @MikeQuindazzi @wef #banking #AI #IoT #robotics #blockchain #wearable #AR #Analytics #voicefirst

Impact of the Fourth Industrial Revolution on Supply Chains HT @JimMarous @MikeQuindazzi @wef  #banking #AI #IoT #robotics #blockchain #wearable #AR #Analytics #voicefirst | WHY IT MATTERS: Digital Transformation | Scoop.it

Disruptive technologies are transforming all end-to-end steps in production and business models in most sectors of the economy. The products that consumers demand, factory processes and footprints, and the management of global supply chains are being re-shaped to an unprecedented degree and at unprecedented pace. Industry leaders who were consulted believe that new technological solutions heralded by the Fourth Industrial Revolution – such as advanced robotics, autonomous systems and additive manufacturing – will revolutionize traditional ways of creating value. As the costs of deploying technology continue to fall, international differentials in labour costs will no longer be a decisive factor in choosing the location of production.

The resulting greater spatial and temporal flexibility brought about by technology will bring locations of production and sale closer together, and drive major changes in the design of future value and supply chains. These trends will change the shape and form of globalization, and thereby impact the trajectory of goods. Regional and local flows will become more important, to the detriment of intercontinental trade.

Farid Mheir's insight:

WHY IT MATTERS: the world economic forum keeps putting out great reports on the impact of digital transformation. I love the illustrations, great summary of key trends and their adoption. Must read.

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.@HBR proposes a Manager’s Guide to Augmented Reality and a companion #AR inset that you can play with (see video) #mustRead

.@HBR proposes a Manager’s Guide to Augmented Reality and a companion #AR inset that you can play with (see video) #mustRead | WHY IT MATTERS: Digital Transformation | Scoop.it

Augmented reality technologies promise to transform how we learn, make decisions, and interact with the physical world. In this package we explain what AR is, how its applications are evolving, and why it’s so important.

Farid Mheir's insight:

WHY IT MATTERS: AR is one of those technologies that have been discussed for so many years and that will explode into the scene with a plethora of consumer and business applications in the coming years. An overnight success story that has been 10 years in the making (if not more). This paper helps managers see business applications for this technology.

What makes it so compelling in the fact that mobile devices (2B+ and counting) all have support for this technology builtin. Just checkout the video I made using my Google Pixel 2 phone camera this morning. It just works!

https://www.facebook.com/fmheir/posts/10155798075150309

And Apple iOS users have the equivalent.

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Puppy or Muffin? How #deepLearning enabled computer vision & made The Business of Artificial Intelligence possible via @hbr

Puppy or Muffin? How #deepLearning enabled computer vision & made The Business of Artificial Intelligence possible via @hbr | WHY IT MATTERS: Digital Transformation | Scoop.it

What AI can — and cannot — do for your organization.

Farid Mheir's insight:

WHY IT MATTERS: advances in computer vision due to deep learning algorithms has opened a world of possibilities for companies. Read this article and accompanying HBR posts. Great series.

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The Robots are Here: a 30min video on the state of #robots & #robotics in 2017 @su_globalsummit

The robots are indeed already here. I work at a university where my job is teaching students and doing research and robotics and so I really what I want to convey to you today is the trends that I see robotics research going that will ultimately turn into actual products and directions that you might be able to take advantage of in the future.

Farid Mheir's insight:

WHY IT MATTERS : the video provides a great review of the state of technology when it comes to robots and robotics today from one of the leading researcher in the field. The talk is peppered with short videos of actual robots so you get a good sense of what's possible today. But remember that we live in an exponential growth era, so things improve very fast.

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The Death Cross Of US Manufacturing

The Death Cross Of US Manufacturing | WHY IT MATTERS: Digital Transformation | Scoop.it

The theme of both the robot-ization of the global workforce and the populist desire for a hike in the minimum wage have been popular and ongoing ones here at Zero Hedge. However, never has it been more clear just where the future lies than this chart from BofAML's Michael Hartnett... As he says, "we are long robots, and short human beings."

Farid Mheir's insight:

WHY IT MATTERS: robots will grow and bring back manufacturing to "developed" countries such as the US but they won't bring back jobs.

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Here's when #robots will start beating #humans at every task @Oxford @Yale

Here's when #robots will start beating #humans at every task @Oxford @Yale | WHY IT MATTERS: Digital Transformation | Scoop.it
A survey of AI researchers tallied predictions for when machines will start beating humans at everything from LEGO assembly to essay-writing.
Farid Mheir's insight:

WHY IT MATTERS: I shy away from these projections but here it comes from scholars at Oxford and Yale so I give more value. Moreover it tracks with the projections I have read from the Singularity is Near and other books on the matter. Moreover I like the visualization because it shows concrete tasks that we can all relate to. And look at the timeline, remembering that 2026 is less than 10 years from now...

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#Robots have a bright future way beyond #manufacturing and into #IT #CustomerService & more @PwC

#Robots have a bright future way beyond #manufacturing and into #IT #CustomerService & more @PwC | WHY IT MATTERS: Digital Transformation | Scoop.it

We explore CEOs’ current perceptions of how robotics in the workplace is shaping their businesses today and in the near future. We also offer our perspectives on how robotics and automation have the potential to be truly transformative in the way they create value within organisations.

Farid Mheir's insight:

WHY IT MATTERS: robots are everywhere and PWC projections from 2014 shows growth in many areas outside manufacturing.

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teamfillets's comment, November 3, 2017 10:52 PM
Its really good :)
flaredauction's comment, November 4, 2017 1:00 AM
Its really good :)
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Digital Audits as a Tactical and Strategic Management Resource @mit_cisr @inspectorio

Digital Audits as a Tactical and Strategic Management Resource @mit_cisr @inspectorio | WHY IT MATTERS: Digital Transformation | Scoop.it

A new type of audit system that digitizes the process is transforming on-site facility inspection programs. This advanced system increases the effectiveness of factory audits as a risk management tool, and provides new insights into the efficiency of remote manufacturing operations. By linking risk and product quality to inspection outcomes, digitized audits also can deliver cost savings and process improvements.

Farid Mheir's insight:

WHY IT MATTERS: always surprised when I see that paper-based processes continue to exist today. They are low hanging fruits for digital transformation.

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What is Generative Design?

What is Generative Design? | WHY IT MATTERS: Digital Transformation | Scoop.it

If you’re a designer or engineer in the building, infrastructure, or manufacturing industries, you have probably heard about generative design, and maybe you’re excited—or skeptical. Or maybe you’re wondering, what is generative design? Will it pave the road for a new future of making things? Or will artificial intelligence usurp entire governments to become the overlords of 

Farid Mheir's insight:

WHY IT MATTERS

Very simple explanation of generative design with lots of practical examples of its use.

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Project Dreamcatcher #AI #generativeDesign systems offer of glimpse into the future of #Design @Autodesk

Project Dreamcatcher #AI #generativeDesign systems offer of glimpse into the future of #Design @Autodesk | WHY IT MATTERS: Digital Transformation | Scoop.it

What if a CAD system could generate thousands of design options that all meet your specified goals? It’s no longer what if: it’s Project Dreamcatcher, the next generation of CAD. Dreamcatcher is a generative design system that enables designers to craft a definition of their design problem through goals and constraints. This information is used to synthesize alternative design solutions that meet the objectives. Designers are able to explore trade-offs between many alternative approaches and select design solutions for manufacture.

Farid Mheir's insight:

WHY IT MATTERS

Companies are starting to use generative design algorithms based on AI technologies to explore thousands of design options rapidly. Autodesk presents here its dreamcatcher project and describe how that is possible.

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Amazon has developed an AI fashion designer via @O_Laborne

Amazon has developed an AI fashion designer via @O_Laborne | WHY IT MATTERS: Digital Transformation | Scoop.it
An Amazon team at Lab126, a research center based in San Francisco, has developed an algorithm that learns about a particular style of fashion from images, and can then generate new items in similar styles from scratch—essentially, a simple AI fashion designer. The approach is crude and hardly ready for Project Runway, but it hints at the possibilities.
Farid Mheir's insight:

WHY THIS IS IMPORTANT

Not only does this experiment show potential for AI to enter the protected world of human creativity, it also signals we soon will be able to go from idea to design to production to sales using AI, automated 3D printing factories and eCommerce. Will we soon see a fully autonomous fashion retailer with no designers, no production staff, no stores that create and sell original clothing?

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Curated by Farid Mheir
Digital technology consultant. Register to my free email newsletter: http://fmcs.digital/newsletter-signup/