Thinkers360 2023 Predictions are member-sourced from our opt-in B2B thought leader and influencer community with 100M+ followers on social media combined. The 2023 Predictions are part of a series to provide actionable insights for business and technology executives.
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We asked a selection of our Thinkers360 global thought leaders and influencers about their predictions for digital transformation in 2023. Here’s what they told us…
What are your predictions for digital transformation in 2023?
If you have not been discussing this at your epicenter for the last five plus yeas it is unlikely you will now start and be successful. However even given that there are some deep new drivers for why, if you have been focusing on it you will need to accelerate the focus and tension in decision making for 2023. Labor shortages, especially in skilled and software roles will hurt you even more next year as companies increasingly rely on digital infrastructure (supply chain, operation, customer facing, product development). Supply chain issues will continue to be a challenge and a smoldering global economy and will put even great pressure on connected signal management between functions. Old pre digitally transformed methods of production supply chain and customer signal management will be badly exposed in 2023 as slow, dis-connected and inefficient.
– Michael Gale, CMO, Snr VP Wind River.
The last 2 years of global pandemic lockdowns and conflict have renewed the drive and investment to bring manufacturing back to the US and its backyard. This creates enormous opportunities to digitalize the entire supply chain and manufacturing process, from proactively managing maintenance cost, improving productivity, to enhancing product reliability and quality. With the labor force in transition, training and skill set upscaling can also be digitally transformed. 2023 will kick off the manufacturing renaissance across all major industries and enterprises.
– Helen Yu, Founder & CEO at Tigon Advisory Corp.
The Least of All Disruptions
Digital is the least of all disruptions. Look around and you’ll see what I mean. Workers, leaders, organizations, and the world are reeling from now-term and looming disruptions in virtually every area. And it has become obvious that addressing sustainability, the new dynamics of the post-COVID workplace, geo-political tensions, uncomfortable social and cultural reckonings, and a likely deep recession will present our organizations with greater, more urgent challenges than the “mere” challenge to be “more digital.” BUT even if digital is the least of all disruptions, it remains one of our most powerful toolsets for addressing any and all of these more substantial issues. For this reason, in 2023 and beyond we will see an organization’s digital transformation agenda become inextricably linked with its sustainability agenda, human rights and equity agenda, workforce and workplace transformation agenda, and its agenda for surviving an economic downturn. In many instances this will be positive — the application of exponential technologies like AI, blockchain, and others to understand and address existential challenges. But we need to be aware that there may be downsides too — continued, accelerated automation of human tasks as organizations scale down their workforce to cut costs as we enter the recession.
– Greg Verdino, Co-Creator at The Adapt Manifesto.
Foundation for success in digital business transformation
This past year, I have observed the global business community shift focus towards the next ‘shiny thing’, including Web3, metaverse and virtual digital economies. For most organizations, application of these and other emerging technology solutions will require acceleration of digital business transformation efforts. In 2023, companies will need to focus on establishing the right foundation to ensure sustainable success in more ambitious efforts implementing emerging technology solutions. This includes creating connected experiences with customers, optimizing and digitizing processes and operations, as well as application of data and technology reshape the business for the digital economy. As companies mature in their digital transformation efforts, business leaders will increasingly recognize that success or failure heavily depends on one key element – the people side of the transformation journey.
– Kamales Lardi, Author of The Human Side of Digital Business Transformation, MD Switzerland at Valtech.
Cost-focused transformations will be the theme for 2023
With the inflationary pressures and imbalances in Supply Chain caused by the macroeconomic events, companies will be conservative with their digital transformation budgets. The only digital transformation initiatives that are likely to be approved are the ones that will help with the near-term needs. Or help with the cash savings for the company.
– Sam Gupta, Principal Consultant at ElevatIQ Inc.
The gap between leaders and laggards will continue to increase
While digital transformation can have varying levels of success within an organization, there is also a growing gap between those organizations that are leaders and laggards in the three main areas digital transformation is intended to address: customer experience, operational excellence, and innovation.
– Greg Kihlstrom, Principal at GK5A.
The road to Digital Twins
In many industries, I expect a strong move toward designing and implementing digital twins. Taking utilities, infrastructure and buildings, the use of BIM (Building Information Modelling) has become a standard platform for many authorities, clients, contractors and consultants. The next move for them will be to build on BIM models and build Digital Models that simulate the physical Twin on the ground. By so doing, landlords can perform analysis on the digital to predict impacts on the physical twins in the case of projects’ expansions. On the other side, landlords can fix IoTs on the physical twins to provide feedback on actual projects’ performance.
– Ahmad M. Salih, SD of Strategy, Knowledge Management and Operational Excellence at Khatib & Alami PTE.
COVID accelerated Digital Adoption. Digital is now inherent to every business and the way we live. It will continue to weave its way into every nook and cranny in the same way electricity has. The World Economic Forum believes more than 60% of the Global Domestic Product (GDP) is from Digital and more than 50% of Corporate Valuations are from intangible assets. Digital Transformation is a board conversation. Organizations will continue to take Digital Transformation out of I.T., taking it across the enterprise, creating a greater focus on the role of culture and enhanced business models, resulting in Digital Trust as the core focus. As we move through 2023, more organizations will talk about their Metaverse strategies.
– Alex Sharpe, Principal at Sharpe Management Consulting LLC.
Digital transformation is above all a transformation in the way of solving (big) problems with a user-centric approach. In 2023, any digital transformation must go hand in hand with a greater opportunity to place people and society at the center of the value creation process while strengthening one of the most critical aspects of our intelligence, that which any other artificial cannot replace: empathy. On the contrary, any digital transformation that fails to transform ways of thinking by solving problems with the user and therefore the human at the heart, is doomed to create a double harmful effect: not only that of amplifying inefficiency at establishing economic viability, but also that of multiplying the handicaps and constraints that prevent us from building good for society. Paradoxically, digital transformation is not that much about technology but the opportunity to shape new augmented human experience that it is up to us to create.
– Hamilton Mann, Group VP, Digital Marketing and Digital Transformation at Thales.
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