of the CIO in the Innovation Process
We must have the answer of this question: who must lead the process of innovation? While 49% of senior executives thinks that CIOs (Chief Information Officer) must be accountable for driving innovation in technology, as per the Dell EMC research, more than half (54%) of the executives feels that their IT leaders should make so many controls which restrict the potential for creativity. RBS considers innovation as an activity which covers all business units. Hanley considers that other businesses must adopt a similar stand and stay away from placing power for digital distraction in the hands of the IT department. As per Hanley—if innovation and creativity is especially the responsibility of the CIO, technology just becomes a hammer looking for a nail. If you are trying and changing your organization within normal business cycles, creativity of executive will be squashed. At RBS, Hanley is running short, sprint activity and there is a separate fund for it. They are presently exploring 40 innovation initiatives. Hanley runs monthly forums with chief executives at partner start-up organizations. These forums include the members of the RBS executive board [14].
4.5 Relevance of IoT in Digital Transformation
As a recent technology Internet of Things (IoT) is getting popularity and companies are trying to adapt it for their businesses. Hence, companies are required to have a plan to implement IoT in their business and to protect their data also. In the next coming five years, there is a prediction about the number of IoT devices and will reach around 50 billion. It means that you are putting the sensors on everything. It may be any devices, things, tractors or it may be anything you can think of.
Dignan think IoT is the very essential components which include digital transformation. It will transform the entire business by making changes in the way how you track your inventory and the supply chain, providing you more analytical data, and more insights. The best place where IoT will be most transformative can be seen under the smart city environment such as sensor based monitoring and controlling of traffic or supply of water or leakage. However, there is one challenge along with the collection of data generated by the sensors that deciding which data is important and should be kept for futures purpose, and which doesn’t. Since storage is cheap, companies can keep data lying around. As per the Dignan, companies are putting a lot of sensors in most of the devices, and not aware or not having plans what to do with that data. Data which is collected and left lying around for potential use later can become vulnerable to attacks. As the data moves to the cloud, it needs to be secured. Dignan said that IoT is going to make everything smart, which is a little freaky yet also kind of cool.
4.6 Conclusion
Authors conclude that the recent trend of business transformation requires huge transformation in technologies as world is moving towards the concept of automation, implementing smartness in smart environment where the people are living and making efforts for the development. This paper covers the importance of business transformation, digital transformation and, technologies required for business transformation. Implementing digital transformation into a business doesn’t mean that to apply technology which does the process digital, but it is more than that which includes the way that the employee works with such tools and works with teams. Hence digitalization is a method used to help in the business transformation. Digital transformation supports business transformation, but it doesn’t mean that business transformation is dependent on digital transformation and vice-versa. Both the process must be implemented with the proper policies to achieve the success in the market. Apart from the various benefits of using recent technologies, some challenges related to maintaining the quality process of business, issues related to security of customers data and increasing the customer satisfaction and number of customers etc. are also there which we must handle in different domains.
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