My first thought when considering digital transformation, and drawing on my academic background, is to see it as a heavy-sided function with a scaling factor of one. It is only natural to see situations through a subjectively tinged filter that builds on past experiences. If the right perspective is lacking, this may lead to problems because, as with cargo cults, the issue might be oversimplified. This simplistic model is then used to address complex questions. Every analogy has its limits, and it is important to be aware of them. If a wave equation is to be solved, then knowledge of quantum mechanics is required. Applying this thought to digital transformation means a serious approach requires executive management to have thorough knowledge of information technology and how digital business models work in practice.
The continued advance of digital technology has seen the automobile grow as a product from simply being a machine intended to move people from place to place, into a networked vehicle for services associated with mobility. Where the “car”, as a product, used to be the determining factor in value creation, it is now not enough on its own to ensure optimized value creation. The term “connected car” is now a synonym for modern automotive mobility, implying communication between the conveyance and its environment, as well as from vehicle to vehicle.
The situation in the banking sector is still tense, and is becoming ever more so as a result of increasing regulation. In order to make use of regulatory compliance as a driver for innovation, the use of state-of-the-art technologies and agile approaches are just as important for success as a greater focus on IT know-how within the banks’ management hierarchy. These are the findings of a recent study carried out by COREinstitute, Berlin.
With your consent, CORE uses the open source software Matomo to analyse your surfing behaviour.
Matomo sets a pseudonymized cookie to recognise recurring visits. You can delete this cookie
in your browser settings at any time. More info