World Monitor Mag WM_June 2018 web - Page 101

additional content Digital Transformation Borja Gonzalez del Regueral, Vice Dean, (Data Science & Technology), IE School of Human Sciences & Technology In recent years, we have seen how compa- nies that not long ago were spearheading different verticals have disappeared. At the same time, new entrants are transforming sectors, industries and societies. Under the umbrella of digital transformation, there is much more than technology. There is a cul- tural shift towards a human-centric design of business models, processes and last but not least customer experiences. We as a whole have abandoned the idea of splitting services and products. Now, more than ever, experi- ences as customers, as employees and as a society are key to determine the success and the survival of sectors as a whole. Although the focus in most cases is on the new application of existing technologies due to a decrease in their implementation costs, digital transformation is 80% culture and 20% technology. This type of transformation requires a holistic review of the organizations and the ways of working. This process char- acterized by constant change, requires leader- ship to foster the shift towards a leaner and agile workforce that is able to abandon silos and put customers at the very center of the organization. However, this comes at a cost. We are biased towards the negative effect of technological change. We are able to foresee the negatives of this unknown new reality while it requires a significant effort to foresee the positives. Research says that our bias is 2-3 times stronger towards the negatives. This cultural change has to be understood as a process with no end state. Technology fos- ters collaboration in ways not seen in the past. Today, the way in which we avoid silos goes beyond the borders of organizations, societ- ies and governments. The multiplying effect of different techn