"We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society." - World Economic Forum.
Digital Transformation is the transformation for revamping the operating strategy or digital strategy, objectives, models, operations, products, services, marketing approach, etc., by adopting digital technologies. This improve services, accelerate processes and expand the abilities of organizations, helping to maintain relevance and competitiveness in global digital economy.
The "transformation" means that digital usages inherently enable new types of innovation and creativity, rather than simply enhance and support traditional methods. A common misconception is that digitalization essentially means the usage of more IT, in order to enable and take advantage of digital technology and data. Where digital transformation, expanding to more holistic views on business and social change, horizontal organizational and business development, as well as IT. It includes, but also means going beyond "paperless" to reaching true "digital business maturity" affecting both individual organizations, government, ecosystems and whole global economy.
Digital transformation is a major challenge and opportunity. When planning for digital transformation, organizations must factor the cultural changes they'll confront as workers and organizational leaders adjust to adopting and relying on unfamiliar technologies. Digital transformation has created unique economic challenges and opportunities, as organizations must contend with Startups competitors who take advantage of the low barrier to entry that technology provides and with digitally native multinational organizations including Apple, Google, Facebook, Amazon, Microsoft and the likes, that have digital DNA, extensive resources and reach that they are using to expand their business to new industries. Additionally, due to the high importance given today to technology and the widespread use of it, the implications of digitization for revenues, profits and opportunities have a dramatic upside potential for everyone.
While the impact of digital transformation in many industries has been profound, many organizations are struggling to realise the full potential of what digitisation enables and this is also divided by Geography. According to the McKinsey Global Institute's Industry Digitization Index, Europe is operating at 12% of its digital potential, while the USA is operating at 18%. Even within the leading economies of Europe there are also some significant differences as, according to the study, Germany operates at 10% of its digital potential, while the UK is almost on par with the USA at 17%.
For comparison, see also more recent European Commission - The Digital Economy and Society Index, IMD World Competitiveness Center, World Digital Competitiveness Ranking and Harvard Business Review Index about 60 Countries’ Digital Competitiveness.
For additional context of the global progress and rankings of the Digital Transformation by country, in World Economic Forum edition of The Global Information Technology Report regards to Fourth Industrial Revolution (part of The Global Information Technology Report series published by the World Economic Forum since 2001, in partnership with INSEAD and Cornell University) has measured the drivers of the Digital revolution globally, using the Networked Readiness Index (NRI), that allows the identification of areas of priority to more fully leverage ICTs for socioeconomic development.
While different reports have differences in their approaches, overall they provide very useful global view to progress and rankings related to digital transformation. These reports also clearly demonstrate that, while organizations processes are undergoing great change, making much progress in the adoption of digitisation, even advanced economies are struggling to exploit the full potential of digitalization.
Most importantly the core message in all reports is strong and unanimous, highlighting the importance and impact of digital transformation. Funding digital transformation is also one key focus area for many development funding organizations.
The "transformation" means that digital usages inherently enable new types of innovation and creativity, rather than simply enhance and support traditional methods. A common misconception is that digitalization essentially means the usage of more IT, in order to enable and take advantage of digital technology and data. Where digital transformation, expanding to more holistic views on business and social change, horizontal organizational and business development, as well as IT. It includes, but also means going beyond "paperless" to reaching true "digital business maturity" affecting both individual organizations, government, ecosystems and whole global economy.
Digital transformation is a major challenge and opportunity. When planning for digital transformation, organizations must factor the cultural changes they'll confront as workers and organizational leaders adjust to adopting and relying on unfamiliar technologies. Digital transformation has created unique economic challenges and opportunities, as organizations must contend with Startups competitors who take advantage of the low barrier to entry that technology provides and with digitally native multinational organizations including Apple, Google, Facebook, Amazon, Microsoft and the likes, that have digital DNA, extensive resources and reach that they are using to expand their business to new industries. Additionally, due to the high importance given today to technology and the widespread use of it, the implications of digitization for revenues, profits and opportunities have a dramatic upside potential for everyone.
While the impact of digital transformation in many industries has been profound, many organizations are struggling to realise the full potential of what digitisation enables and this is also divided by Geography. According to the McKinsey Global Institute's Industry Digitization Index, Europe is operating at 12% of its digital potential, while the USA is operating at 18%. Even within the leading economies of Europe there are also some significant differences as, according to the study, Germany operates at 10% of its digital potential, while the UK is almost on par with the USA at 17%.
For comparison, see also more recent European Commission - The Digital Economy and Society Index, IMD World Competitiveness Center, World Digital Competitiveness Ranking and Harvard Business Review Index about 60 Countries’ Digital Competitiveness.
For additional context of the global progress and rankings of the Digital Transformation by country, in World Economic Forum edition of The Global Information Technology Report regards to Fourth Industrial Revolution (part of The Global Information Technology Report series published by the World Economic Forum since 2001, in partnership with INSEAD and Cornell University) has measured the drivers of the Digital revolution globally, using the Networked Readiness Index (NRI), that allows the identification of areas of priority to more fully leverage ICTs for socioeconomic development.
While different reports have differences in their approaches, overall they provide very useful global view to progress and rankings related to digital transformation. These reports also clearly demonstrate that, while organizations processes are undergoing great change, making much progress in the adoption of digitisation, even advanced economies are struggling to exploit the full potential of digitalization.
Most importantly the core message in all reports is strong and unanimous, highlighting the importance and impact of digital transformation. Funding digital transformation is also one key focus area for many development funding organizations.
Sources: World Economic Forum and Wikipedia.
"Along with the digital economic development of city, region or country, digital startup ecosystem development must be under own control, managed and operated with dedicated an digitally knowledgable resources. - Not in hands of foreign government or monopolized by private businesses" - Learn more...
Beyond Digitalization
Digital Transformation is a fusion of advanced technologies and the integration of physical and digital systems, the predominance of innovative business models and new processes, and the creation of smart products and services. Including digitization, that is a sub-process of a much larger technological progress, digitization (the conversion), digitalization (the process) and the digital transformation (the effect) that are collectively accelerating the global and societal transformation process.
DigitizationThe conversion of analog information into digital form (i.e. numeric, binary format). Digitizing is technically explained as the representation of signals, images, sounds and objects by generating a series of numbers, expressed as a discrete value. The majority of sectors and industries in media, banking and finance, telecoms, medtech and health care have been strongly affected by this conversion of information.
|
DigitalizationThe actual 'process' of the technologically-induced change within industries. This process has enabled much of the phenomena today known as the Internet of Things, Industrial Internet, Big data, machine to machine communication, blockchain, cryptocurrencies etc. The state of the digitalization of industry varies across sectors, particularly between high-tech and more traditional areas, and also between countries and regions. There are also large disparities between large companies and SMEs.
|
Digital transformationThe total and overall societal effect of digitalization like mindsets, behaviour and business models. Digitization has enabled the process of digitalization, which resulted in stronger opportunities to transform and change existing business models, disrupting entire industries and forming new ones, consumption patterns, socio-economic structures, legal and policy measures, organizational patterns, cultural barriers, etc. Also known as fourth industrial revolution.
|
Digitization (the conversion), digitalization (the process) and the digital transformation (the effect) accelerate and illuminate the already existing and ongoing horizontal and global processes of change in society.
"Ultimately, the ability of government systems and public authorities to adapt will determine their survival. If they prove capable of embracing a world of disruptive change, subjecting their structures to the levels of transparency and efficiency that will enable them to maintain their competitive edge, they will endure. If they cannot evolve, they will face increasing trouble." - World Economic Forum
In Digital World Data Is Everything
Digital transformation is about enabling information sharing and flow of data between key functions. To enable and manage connections for key and between stakeholders, and to compile information on startups across different channels, interactions and points of contact between startups, support organizations and stakeholders along the way.
Digital solutions should focus on connectivity and enable data about ecosystem activities and processes to flow in real-time, using ecosystem level user accounts and common API's run on cloud infrastructure and databases. These enable to track business creation through various development phases from: formation, validation to scale - and Support providers services for volume, quality and velocity, for aggregated ecosystem KPI's.
Digitally connected applications can share relevant data across various ecosystem functions and processes for; economic development, universities, support service management & operative teams, investors, banks, innovators, etc.
Digital solutions should focus on connectivity and enable data about ecosystem activities and processes to flow in real-time, using ecosystem level user accounts and common API's run on cloud infrastructure and databases. These enable to track business creation through various development phases from: formation, validation to scale - and Support providers services for volume, quality and velocity, for aggregated ecosystem KPI's.
Digitally connected applications can share relevant data across various ecosystem functions and processes for; economic development, universities, support service management & operative teams, investors, banks, innovators, etc.
Digital Solutions, Data Ownership And Local Ecosystems
Individuals and organizations should own and have way to control their data, data connections and flow of data. In addition opportunities to monetize data should be build at all levels.
Startup Commons focus on ongoing R&D of EcosystemOS - a shared ecosystem infrastructure, including ecosystem user accounts and API's, - to growing the number of connected applications, and to develop global data monetization opportunities for all data owners.
We operate digital services only at global level, while the local ecosystem level services are provided and operated by local ecosystem operators for their ecosystem people and organizations, with local resources and identity.
Startup Commons focus on ongoing R&D of EcosystemOS - a shared ecosystem infrastructure, including ecosystem user accounts and API's, - to growing the number of connected applications, and to develop global data monetization opportunities for all data owners.
We operate digital services only at global level, while the local ecosystem level services are provided and operated by local ecosystem operators for their ecosystem people and organizations, with local resources and identity.
Comparing Startup Ecosystem Digitalization With Other Industries
While there are many technologies (API’s, serverless, blockchain, AI, IoT, etc.) that are already being applied to various industries, -surprisingly, same does not apply to innovation entrepreneurship support functions and startup ecosystems development projects, - wasting the benefits of digitalization, platform economies, data sharing, AI, etc. being key factors to bring efficiency and accelerate growth in any industry. Same things that are very much the exact focus of innovative startups created and supported within the ecosystems.
Simple comparison could be to compare how much data is available and technology being utilized in different sports compared to entrepreneurship ecosystem functions. The difference is enormous.
In case of innovation and startup ecosystems, none of the startup ecosystems in the world are currently leading the digital transformation within their ecosystem functions by example.
Simple comparison could be to compare how much data is available and technology being utilized in different sports compared to entrepreneurship ecosystem functions. The difference is enormous.
In case of innovation and startup ecosystems, none of the startup ecosystems in the world are currently leading the digital transformation within their ecosystem functions by example.
Start Your Ecosystem Digital Transformation - Get Wisdom AI
Brought to You by EcosystemOS from Digiole
Empower Your Local Startup Ecosystem with Customized Wisdom AI Startup Advisor
Wisdom AI isn't just a breakthrough in startup advising; it's a versatile tool designed to adapt to your unique ecosystem. Part of the EcosystemOS Integrated Digital Ecosystem Platform developed by Digiole, Wisdom AI offers you the opportunity to create a personalized advisor for your local startups and founders.
- Brand It As Your Own: Customize Wisdom with your own branding, including colors and style.
- Localize Your Advice: Enrich Wisdom's vast knowledge with local ecosystem specifics, services, policies, funding instruments, and more, making it truly relevant for your community.
- Expand Your Ecosystem's Reach: Utilize Wisdom AI to offer precise, AI-driven guidance, tailored to the unique needs and opportunities within your region.
"The speed of current breakthroughs has no historical precedent. When compared with previous industrial revolutions, the Fourth is evolving at an exponential rather than a linear pace. Moreover, it is disrupting almost every industry in every country. And the breadth
and depth of these changes herald the transformation of entire systems of production, management, and governance." - World Economic Forum
and depth of these changes herald the transformation of entire systems of production, management, and governance." - World Economic Forum
