Story image

Navigating the Third Industrial Revolution

07 Sep 15

In the Third Industrial Revolution digital technology is the lifeblood of the organisation, says CenturyLink. 

In fact, digital transformations are taking place in every company, from the local supermarket all the way through to financial organisations.

According CenturyLink research, 50% of businesses intend to be a digital business in 24 months, and 83% in three to five years, which will result in high stresses on individuals in organisations.

Furthermore, by 2020, 75% of businesses are expected to become, or prepare to become, a digital business.

In this digital landscape, competitive advantage depends on how digital infrastructure, and the data flowing across it, is utilised.

Stuart Mills, CenturyLink regional director ANZ, says, “It’s a creative time for businesses, large and small. New firms can rely on pre-existing digital infrastructure to jump-start their own business models.

“Established firms can remake themselves. What was once a tangible product is now delivered as a service with a new cost structure and no expiration date.”

Transformation implies more than just process change or a shift from one tool to another. It represents a complete metamorphosis across whole industries, companies, departments or people, he says.

A business unit is transformed when its evolution is so great that it no longer resembles its former self.

This could involve the overhaul of internal infrastructure, or the addition of a variety of new outsourced services taken on with the help of a managed hybrid IT provider, according to CenturyLink.

Mills says, “Digital transformations accomplish the most dramatic change in status for businesses. With digital technology driving the business, you can move faster, serve customers in new ways, and create new opportunities for growth and innovation.

“We have moved well beyond automating tasks when considering what digital infrastructure can accomplish. Today, we are innovating entirely new business models.”

For instance, in the retail industry Wi-Fi is just part of the offering to customers in the store - it is also a way to encourage customers to enter the store, understand what they are shopping for and show them the range of goods on offer.

For medical practices, electronic medical records (EMR) are now part of patient diagnosis and the foundation for coordinating care across the practice.

For media companies, the number of screens on which to display content is seemingly endless, CenturyLink says.

Mills says, “Trade-offs still exist, though. In today’s organisations, back-end infrastructure and customer-facing services compete for the same limited investment funds.

“New ideas for services or expansion plans can be shelved because of the cost of the related infrastructure.

“Digital transformations, therefore, are also about choosing what to focus limited capital and resources on, and choosing what to outsource.

“By outsourcing some or all infrastructure needs, organisations can free up resources to focus on creating innovative new kinds of value for customers and drive efficiencies for all stakeholders.” 

DigiCert conquers Google's distrust of Symantec certs
“This could have been an extremely disruptive event to online commerce," comments DigiCert CEO John Merrill. 
Protecting organisations against internal fraud
Most companies tend to take a basic approach that focuses on numbers and compliance, without much room for grey areas or negotiation.
Telesmart to deliver Cloud Calling for Microsoft Teams
The integration will allow Telesmart’s Cloud Calling for Microsoft Teams to natively enable external voice connectivity from within Teams collaborative workflow environment.
Jade Software & Ambit take chatbots to next level of AI
“Conversation Agents present a huge opportunity to increase customer and employee engagement in a cost-effective manner."
52mil users affected by Google+’s second data breach
Google+ APIs will be shut down within the next 90 days, and the consumer platform will be disabled in April 2019 instead of August 2019 as originally planned.
GirlBoss wins 2018 YES Emerging Alumni of the Year Award
The people have spoken – GirlBoss CEO and founder Alexia Hilbertidou has been crowned this year’s Young Enterprise Scheme (YES) Emerging Alumni of the Year.
SingleSource scores R&D grant to explore digital identity over blockchain
Callaghan Innovation has awarded a $318,000 R&D grant to Auckland-based firm SingleSource, a company that applies risk scoring to digital identity.
IDC: Standalone VR headset shipments grow 428.6% in 3Q18
The VR headset market returned to growth in 3Q18 after four consecutive quarters of decline and now makes up 97% of the combined market.