Lalit Singh is the Chief Operating Officer at Udacity. Prior to joining Udacity, Lalit led the digital transformation of HPE’s software business from on-premise and disjointed systems to the seamless and scalable cloud and SaaS-based architecture. Lalit began his career at GE across leadership roles in Customer Service, Engineering and Lean Six Sigma. He holds a B.S. in Electronics Engineering from Lucknow University and MBA in Finance and Marketing from Indian School of Business, India.
Digital transformation is a concept that has become so mainstream it has morphed into a catch-all buzz phrase that, at best, is confusing. At its worst, it’s meaningless. Truth is, the idea is going to mean different things for different organizations. Think of digital transformation as being “in the eye of the beholder.”
Let’s agree on this much: It ultimately marks a radical rethinking of how an organization uses technology, processes, and people to evolve its business performance and eventually drive profitable growth and customer success.
But again, digital transformation can be a proxy for a wide range of innovations and strategies as organizations try to stay on the cutting edge. In fact, it can be as much about how individuals work and the cultures of organizations as it is about technology.
So, how ready is your company as you embark upon this complex undertaking?
There are some key areas that organizations must get right to ensure a successful digital transformation:
The word “innovation” gets overused these days. It’s an all-purpose word that leaders use to describe how they’re thinking about business in a forward-looking way to keep customers happy and the organization at the top of its game. There’s also no denying that building a culture of innovation is at the top of most corporate agendas.
The problem is one key group of stakeholders often gets left out when we talk about innovation.
This article on EdTech Evolution first appeared in BusinessWorld here.
There is no doubt that education is the key to transform lives. But now that we are living in the age of digital technologies, we are quickly getting accustomed to seeing education itself being transformed by leaps and bounds. The coming up of new-age players in the online education space has innovated both the nature and quality of education, and it is just the beginning of EdTech evolution.
It is no secret that digital transformation has been driving industry-wide disruptions for the past two decades, enabling businesses across sectors to achieve massive scale and growth. However, much of the economic potential still remains untouched by industries. As per MGI predictions, digitization holds the key to unlocking this potential, which will enable the global GDP to gain USD 13 trillion by 2030.
In fact, various industry leaders believe that technology education — forms the foundation of digital transformation — can help double the world’s GDP. Riding on the back of AI, Machine Learning, Cloud Computing, Data Science, SaaS, IoT – the next wave of transformation is certainly going to require ample upskilling and reskilling.
It is said that a rising tide raises all boats. To begin with, the transformation journey would be led by some sectors and the effects would then trickle down to other wheels of the economy. Here are some sectors which leading digital transformation:
Today, we are proud to announce our newest scholarship to expand students’ AI skills: the Intel® Edge AI Scholarship Program.
This new scholarship program, announced at the Intel AI Summit and the Future of Education and Workforce Summit in San Francisco, will empower professional developers interested in advanced learning, specifically deep learning and computer vision, to accelerate the development and deployment of high-performance computer vision and deep learning solutions. Computer vision and AI at the edge are becoming instrumental in powering everything from factory assembly lines and retail inventory management to hospital urgent care medical imaging equipment like X-ray and CAT scans. This program will teach fluency in some of the most cutting-edge technologies.
The most successful, fastest-growing companies are differentiated by one thing: they’ve transformed how their people learn and lead. This high-performing, maturing organizations encourage experimentation, iteration, and transparency to ensure new ideas are tested and outcomes are shared. According to a LinkedIn 2018 survey, employees are hungry for personal development opportunities at work: 94 percent of employees say they would stay at a company longer if it invested in their career but the number one reason employees feel they aren’t learning and upskilling is because they don’t have the time.
We’re witnessing incredible contradictions in the workplace. On one hand, an increasing number of jobs are being lost to intelligent automation. But at the same time, emerging technologies like artificial intelligence, machine learning, data science, and blockchain are also creating new roles that are going unfilled due to a severe skills shortage.