Comments
Discretionary funding has certainly seen reduction in a tough economic environment. But from experience of leading digital transformation solutions company UST, digital is rarely where funding is cut.
After all, mastering digital is the best way to reach customers, partners, and deliver new products/services at scale, says Trent Mayberry, Chief Digital Officer (CDO), UST.
“While we go digital the job market too keeps changing with advances in technology. New jobs that didn’t even exist when many workers were in school are being created now,” Mayberry wrote to BusinessLine.
New skills in demand
“Increasing demand for AI/ML, IoT, digital twins, quantum computing, low-power chip design, among others, are putting greater and greater pressure on our teams to develop new skills at pace.”
Employee retention requires organisations to help workers take advantage of emerging opportunities, create self-organising teams that can adapt at pace, and provide a culture that allows people to feel productive and engaged.
If anything, organisations need to work harder to keep and grow employees as automation, cloud computing and new technologies finding it difficult to keep pace with talent demands.
Build own competencies
A recipe for disaster is to embrace digital, cloud or IoT without significant attention to cyber security, Mayberry observed. Emergence of fluid partnerships between companies to meet more sophisticated customer needs will add further to business risk.
Ransomware, low-level exploits, and DDoS (distributed denial of service attacks) are part of the new landscape for digital businesses. “Build your internal competencies and look for organisations embracing AI/ML as part of their cyber strategy while ensuring that humans can focus on the most appropriate business risks, rather than the volume of threats,” he says.
“I anticipate more and more collaboration between companies trying to manage the ever-expanding risks to our digital economy.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.