“With technological change accelerating, companies need to make four fundamental shifts.”
Four interconnected tech trends shaping the future of IT
Innovation at the edge
What incentives will best encourage engineers and domain experts to develop, maintain, and tap into their networks?
What processes are in place for tracking and managing VC activity at the edge?
What capabilities do you need to identify innovation opportunities and “industrialize” the best ones so they can be shared across the organization?
A perpetual-learning culture
Do you have a list of the most important skills your business needs?
What is the minimum level of learning needed for advanced users of analytics and manipulators of data?
How do you track what people are learning and whether that learning is effective and translating into better performance?
IT as a service
Do you have a vision for how the role of the IT organization will change to enable democratization of technology?
How will you elevate the role of the technology product manager, and do you have a road map for developing that role?
What systems will you need to put in place to manage and track the use, reuse, and performance of code?
Expanded trust boundaries
Who is responsible for the enterprise-wide trust and risk landscape?
How have you integrated your efforts around customer trust with overall cybersecurity processes?
What privacy, trust, and security processes are in place to manage the entire life cycle of your data?
It is inevitable that the pace of technological change will continue to accelerate. The successful technology leader of the future will not simply need to adopt new technologies but to build capabilities to absorb continuous change and make it a source of competitive advantage.”
Much more information and details can be found in the original post at McKinsey here.
“The current model of universal retail banking is unsustainable over the long term. To thrive, banks need to reinvent themselves, focusing on businesses where they can achieve and extend market leadership in the new digital world.”
“Today’s retail banking market is vastly different in shape and structure from the old environment, in which the traditional model of universal banking was economically sound. In the new world, the winning banks will be those that carefully choose the businesses in which they can lead and commit to building a value proposition, core technology, and operating model fit to win on the digital battlefield.”
Got interested? Then read the original and complete post on McKinsey.com here.
“Every business leader and CEO aspires to deliver growth, but for many, growth remains elusive. In times of uncertainty, growth is an important facet of resilience; leaders who adopt a growth mindset are better positioned to thrive under disruptions and other challenging situations–and outperform their peers. Outperformers take risks, understand their customers, favor action over perfection, focus on the long-term, and give control to others, according to McKinsey.
Explore these insights to understand how to make sustainable, inclusive growth a reality, and dive deeper into topics including:
how companies can seize green growth opportunities as we look toward a net-zero future
the importance of resilience as disruptions and crises arise over time
the ten rules for creating value-generating growth
how CFOs and other business leaders can deliver sustainable, inclusive growth”
Got interested? Follow this link to read the original post on McKinsey followed by a collection of topic-related articles and posts on McKinsey’s Website!