{"id":20583,"date":"2024-04-01T12:03:54","date_gmt":"2024-04-01T12:03:54","guid":{"rendered":"https:\/\/interface.media\/?p=20583"},"modified":"2024-04-01T12:04:00","modified_gmt":"2024-04-01T12:04:00","slug":"how-to-fill-the-growing-digital-transformation-gap","status":"publish","type":"post","link":"https:\/\/interface.media\/blog\/2024\/04\/01\/how-to-fill-the-growing-digital-transformation-gap\/","title":{"rendered":"How to fill the growing digital transformation gap"},"content":{"rendered":"\n<p>Digital transformation has transitioned from a value-add to an existential necessity. From cloud-based computing to generative artificial intelligence (AI), digital transformation initiatives are becoming a fact of life, even in traditionally conservative industries.&nbsp;<\/p>\n\n\n\n<p>However, while a recent report on digital transformation in the financial sector by <a href=\"https:\/\/www.globaldata.com\/store\/report\/?cdmsid=1573437&amp;scalar=true&amp;utm_source=News&amp;utm_medium=2-90417&amp;utm_campaign=company-profile-hyperlink-nonlgp&amp;_gl=1*lqjxde*_ga*MTkxNzczMjM4MC4xNzExOTcwNjU1*_ga_L7MEFHY9LQ*MTcxMTk3MDY1NS4xLjAuMTcxMTk3MDY1NS42MC4wLjA.*_ga_SFGDXVSPKD*MTcxMTk3MDY1NS4xLjAuMTcxMTk3MDY1NS42MC4wLjA.\">Broadridge Financial Solutions<\/a> found that 75% of executives were confident that tech transformation roadmaps were sufficient to meet coming challenges, the Broadridge analysts also uncovered a slightly more worrying trend.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-digital-transformation-gap-nbsp\">The digital transformation gap&nbsp;<\/h3>\n\n\n\n<p>Despite universal acceptance of the necessity of digital transformation, a digital maturity gap is emerging between \u201cleaders and non-leaders.\u201d While Broadridge\u2019s report notes that over two-thirds of leaders say they have made meaningful progress on modernising core IT platforms, far fewer have made progress in other areas of tech and talent innovation.&nbsp;<\/p>\n\n\n\n<p>Far fewer financial sector leaders were confident in their efforts to leverage cutting edge technologies like generative AI. Many were also meeting pain points when meeting <a href=\"https:\/\/interface.media\/blog\/2024\/03\/06\/man-not-machine-why-humans-might-be-the-best-cybersecurity-tool-in-the-fight-against-genai\/\">rising cybersecurity challenges<\/a>, as well as the evolving and increasing needs for \u201cseamless digital customer experiences\u201d.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-skills-not-technology-nbsp\">Skills, not technology&nbsp;<\/h3>\n\n\n\n<p>For many, the digital maturity gap is in of itself a symptom of the skills gap and emerging throughout multiple industries.\u00a0<\/p>\n\n\n\n<p>In a recent article for the <em>Harvard Business Review<\/em>, Rub\u00e9n Mancha and Salvatore Parise note that \u201cthe problem most companies face in executing their digital transformation is not access to technologies but a shortage of workers with digital and data science skills.\u201d&nbsp;<\/p>\n\n\n\n<p>From rapidly-changing requirements provoked by new technology entering the marketplace, to a <a href=\"https:\/\/interface.media\/blog\/2024\/03\/20\/6-ways-to-attract-technology-talent-as-a-non-tech-company\/\">perceived talent shortage<\/a> (which is actually a living wage shortage), and lack of successful investment into upskilling (only 18% of leaders \u201cbelieve their organisation has made \u2018significant progress\u2019 in establishing an upskilling program,\u201d according to <a href=\"https:\/\/www.pwc.com\/gx\/en\/ceo-survey\/2020\/reports\/pwc-23rd-global-ceo-survey.pdf\">a survey by PwC<\/a>), the very factors driving the need for digital transformation are the ones making it difficult for many companies to meet this rising challenge.\u00a0<\/p>\n\n\n\n<p>Mancha and Parise advocate for the proliferation of \u201cdigital academies\u201d. This approach \u201caims to catalyse how employees interact with digital and data science and lead the transformation of processes, products, and services.\u201d&nbsp;<\/p>\n\n\n\n<p>Digital academies are, they add, not purely focused on technological upskilling, but also serve to reinforce the company\u2019s culture and narrative. Each digital academy needs, then, to be a highly contextual effort. They focus on the application of technology in the context of the organisation and its digital vision. Most importantly, Mancha and Parise stress, they \u201chelp create and reinforce a specific culture around tech and innovation in a way that more generalised online trainings simply can\u2019t.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From generative AI to cybersecurity, the digital maturity gap between digital transformation leaders and laggards is only getting bigger. <\/p>\n","protected":false},"author":480,"featured_media":20584,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"apple_news_api_created_at":"2024-04-01T12:03:58Z","apple_news_api_id":"15f90b38-af9c-4d9b-92e5-f71a49e145fe","apple_news_api_modified_at":"2024-04-01T12:03:58Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/AFfkLOK-cTZuS5fcaSeFF_g","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[3],"tags":[],"topic":[650,651],"class_list":["post-20583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-interface","topic-digital-strategy","topic-people-culture"],"acf":[],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - 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