6th Monthly Column Digital Transformation Feb-2020

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6th Monthly Column Digital Transformation Feb-2020

Mankind is fighting out critical risks and challenges since the dawn of civilisation for survival and prosperity. Future kept on unfolding with ever changing fiercely critical and perilous encounters. Some of those in recent decades are man-made due to insatiable greed for more. Industry 3.0. claimed success with proliferation of IT and automated systems linked to internet. The present era of Industry 4.0 is progressing with overwhelming speed of digital transformation. Mankind has self-inflicted an entirely new set of risks emanating from these two. During about last four decades, besides nature’s ferocities and degradation of environmental ecosystem, new risks and challenges are from cyber criminals. Digital assets are their targets for extracting ransoms in millions. They infiltrate through the pores of system peripherals and spread malwares using digital tools. The irony is that, they use mostly the same tools, e. g., AI, ML, RPA, etc. to spawn new malwares, which digital scientists use for ‘innoventing’ solutions and creating deterrents for malwares. This battle is gradually taking dreadful dimensions. Challenges that are already threatening large organisations, with traditional business models, are disruptions and ‘destruptions’ by startups to overthrow from their perches. Some are also struggling hard to withstand challenges from digitally transformed business models of large at the virtual marketplace such as Amazon and Google, powered by SMAC, i. e., Social media, Mobility, Analytics and Cloud. The new imperatives are, therefore, Digital transformation (DT), including Robotic Process Automation (RPA), of business models, processes for strategic planning, manufacturing / servicing operations and SCM. DT is now at top of the agenda of almost all CEOs. The traditional reactive approach for ERM must be replaced by proactive risk enabled performance management and governance (REPMG) for all contemporary and predictable risks. Administrative machineries of any governmental organisation are no exception to it.

Approach for Digital Transformation with REPMG

DT, just to recapitulate, is nothing but need based identification, adoption and integration of one or more of the eight deep digital technologies into the core of business functions from hierarchy to tools and operations to service deliveries to stakeholders. One of the major threatening risks, while dealing with SMAC, is flawless compliance of privacy, security, safety and protection of information related to every single user and customer.Learn more  from pdf >>>>>>