Every company is at a different point in their digital transformation journey. And where you are in your transformation determines what kind of innovative technology you choose. However, no matter where you are in your journey, you need to implement foundational technologies in order to successfully adopt cutting-edge technologies such as blockchain, artificial intelligence (AI), and machine learning (ML).
According to survey data from the 2018 TIBCO CXO Innovation Survey, the majority (59.4 percent) of respondents are focusing on technologies such as cloud, business intelligence and analytics, and application and data integration to drive innovation. The remainder of the survey respondents (40.6 percent) are focusing on IoT, AI/ML, open source, and blockchain to drive their innovation efforts.
The survey revealed a direct connection between digital maturity and a company’s ability to innovate and disrupt. Looking further into the data, a trend shows the technologies being selected to increase innovation. Those further along in their digital transformation journey (digerati, digital fashionistas) are deploying IoT, AI/ML, and blockchain technology at a far greater rate than digital beginners. Conversely, respondents who identified themselves as digital beginners or digital conservatives are deploying cloud technologies, business intelligence and analytics, and application and data integration at a greater rate than digerati and digital fashionistas.
This gap in technology adoption offers a view into how advanced companies are setting themselves apart from the competition. Adoption of sophisticated solutions opens the door for a wide variety of use cases that digital beginners are not able to leverage, creating a competitive gap. This further emphasizes the technology choice that companies make for their innovation projects.
Cloud, analytics, and application integration are essential technologies to build a modern technology stack to foster innovation. As a digital beginner, you need to implement these technology basics before you move on to more advanced technologies. It’s never too late to start with the fundamentals. By doing so, you will give your company the foundation to implement more advanced technology as you progress in your digital transformation journey.
As you select your technology stack, you should also consider the vendor you choose to partner with. Ideally, you want to explore vendors who can fulfill different technology needs as you move along your digital transformation journey. Join forces with a vendor who is thinking ahead, offering sophisticated, top-of-the-line products. Risk is reduced when you partner with vendors who understand the journey and can assist you in achieving your goals.
Digital transformation is not a race; each company is at its own starting point and innovates at its own pace. This race begins by implementing foundational technologies. Once you start mastering the basic technologies, you set yourself up to successfully adopt more advanced technologies. If you achieve this, you are sure to move ahead in your digital transformation journey.