Disruptive Technologies in the High Tech Industry
The high tech industry delivers a vast number of disruptive technologies that fundamentally alter the technical capabilities of businesses and consumers. This includes sectors like robotics, drone technology, augmented or virtual reality (AR or VR), sensor technology, artificial intelligence (AI) and machine learning (ML).
As a result, high tech companies are under intense scrutiny over the inevitable and incoming “technological singularity.” Technological growth could become uncontrollable and irreversible as AI or ML technologies mature, transforming the socioeconomic landscape — a real concern for world governments and regulators.
Only 7% of Companies Are Delivering on Their Transformational Initiatives
Our research has shown that 30% of companies will fail to survive this decade due to an inability to evolve digitally. To address this negative trend, we have developed the Digital Enterprise Evolution Model™ (DEEM).
Digital Enterprise Evolution Model™
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DEEM allows our clients to recognize digital evolution patterns, implement benchmarking and prioritization strategies, and initiate application management protocols to satisfy stakeholder and market requirements.
High Tech Enterprises Outside the Vision-Driven Quadrant Are at Risk
Many high tech companies are outside of the vision-driven quadrant when it comes to digital transformation. These companies are at considerable risk. Additionally, many high tech companies have recognized the urgency and begun their digital transformations; however, sub-optimal execution is undermining their efforts.
A large number of high tech companies are planning significant cloud investment across all business modalities. The focus is on advanced analytics and process digitalization, along with robotic process automation (RPA). There is still room for improvement in the digitalization approach, however, with an end-to-end digitalization roadmap being essential to maximize success in the long-term.
Human Capital Management (HCM) among High Tech Companies
The high tech industry is among the best when it comes to human capital management (HCM). Many companies are set to invest record amounts when digitally transforming their human capital processes and systems. This is largely driven by skills shortages and an overall lack of talent in the industry. Currently, advanced analytics and AI automation outpace all other functions in terms of investment. These are essential tools in finding and retaining the right human capital.
The focus must be on vision-driven digitalization of human capital management systems and processes, as there are clear vulnerabilities among high tech companies who fall outside the vision-driven quadrant. CEOs will realize immense benefits by benchmarking their high tech HCM operations: such as with the Trianz Digital Enterprise Evolution Model (DEEM™) — enabling better talent acquisition, upskilling, and employee retention.