For the firms to survive the next 12-24 months and emerge stronger, they will have to be agile and nimble to leverage technology to go digital. Emerging technologies like IIoT, robotics, RPA, AI/ML and a host of other technologies, provide an opportunity to leapfrog ahead of competition by opening up new services (e.g., remote monitoring, consumer apps), new products (e.g., smart products) and reduce cost through improved productivity and doing things very differently.  In this paper, we review the various examples by which firms across the country have leveraged technology, to highlight what can be.

In leveraging these technologies, you will need a Chief Digital Officer or CDO, to drive things ahead. A CDO is not the same as a CIO or Head – IT, and has to be a separate CxO role, reporting into the CEO. A CDO is a techno-business leader who views issues through the twin lenses of business and technology, and is thus a very different breed. Tempting as it may be, especially in these days to save costs, don’t make the mistake of entrusting digital transformation to CIOs or other CxOs – any meaningful impact requires sustained, full-time devotion and a different mind-set.