Operators tasked on innovative ideas
Stakeholders have tasked businesses to speedily innovate through effective collaboration and creation of standardised platforms to accelerate digital transformation, aimed at co-creating with other companies to rapidly develop and scale new solutions.
Speaking at the 2019 KPMG Digital Summit, in Lagos, on Tuesday, they argued that technology-driven ideas are pivotal to developing strong and productive relationships among companies, from providing communication tools to using new systems like augmented reality to enable businesses to share their expertise.
Furthermore, they added that digital transformation can help by creating standardised platforms to share data seamlessly and increase collaboration.
Specifically, the Head of the AI & Cognitive Practice at KPMG Israel Data & Analytics Department, Rolan Kab, said to create successful transformation process, there is a need for different alignment and collaborative processes to occur.
“You need to harness stakeholders; you need different people aligning, working together, and creating insight to achieve, and with this, you cannot encounter any traffic. Working jointly is the key to success.”
He pointed out that Artificial Intelligence (AI) is currently creating significant impact in businesses, noting that it enables platforms to reduce cost significantly, making it possible to serve the bottom pyramid without smartphones.
He urged business managers to ensure that they display their products in cloud, adding that it is a new initiative that is more secured and reliable.
“Businesses cannot skip the digital transformation, you have to realise that the landscape is changing with more competitive edge.
“You need to make digital transformation a success. Just make sure that the relevant stakeholders are willing to make the change with you. Ensure you carry everybody along in your decision making.”
The Chief Executive Officer and Founder of Mines, Ekechi Nwokah, said changes in technology provide opportunities for businesses to create new digital models and values.
‘”Nigeria is an interesting place in terms of data. We use AI to improve data quality that we got even from larger institutions. There are regulations around privacy. With AI, you process and secure your data because you are in business of trust, and if you leak it, you may lose your customer.
“I urge business leaders to take a business risk. They should utilise the data they have to make profit. You must take this risk if you must survive, if not, you may not be in existence again in the next 20 years. You must embrace data.”
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