DQ DigitalNext, part of Dataquest’s Digital Leadership series of conferences concluded last week August 23 at Mumbai with noted speakers giving valuable pointers for the digital transformation playbook for CDOs and CIOs of enterprises. The theme of the event was ‘The Next Phase in Digital, Digital Transformation at Scale.’ Key speakers included Bhuwan Lodha, M&M; Ninad Raje, HealthAssure; Sameer Dhanrajani, Fractal Analytics; Divya Bhatt, L&T Tech Services; Vishal Jain, Deloitte; Sanjay Raut, NIIT Tech; and Tarun Mishra, Covacsis amongst others.
Putting Digital Risk First
The conference kicked off with a session about managing digital risk Vishal Jain, Partner- Risk Advisory, Deloitte, given that many of the new digital technologies pose many new types of risks to the enterprise. Surely, the risks should not be a deterrent to the adoption of these technologies, opine the digital leaders. But having a framework for managing risks and having it as an agenda item with forethought rather than as an afterthought is the recommended way to achieving scale in digital transformation.
Said Vishal Jain, “One of the most critical success factors to win in the digital era is organizational agility. Businesses can create a scalable and adaptable digital journey encompassing a well-defined digital strategy, an appropriate business case, and a flexible approach. But along with the digital transformation, it is imperative for organizations also to manage the risks that are introduced into the environment and its impact to the existing ecosystem to drive optimum value from the digital initiatives.” Vishal outlined a 10-point risk management framework recommended by Deloitte to its clients.
Analytics and AI Leading to the Algorithm Economy
Sameer Dhanrajani, Chief Strategy Officer, Fractal Analytics, and author of an acclaimed book on analytics (AI and Analytics- Accelerating Business Decisions, Wiley Publishing) described the world as being ‘data-rich, information-poor, and insights-starved.’ He described algorithms as the secret sauce and the key differentiators for organizations; he said algorithms used for decision-making would be akin to and as important as P&L discussions. Sameer refers to organizations turning into ‘math houses’ as called by management pontiff Ram Charan. “We are in the algorithm economy which has been made possible by the democratization of analytics and technologies driving data-as-a-service,” said Sameer. He further added that plug-and-play analytics algorithms is not just a concept anymore.
Sameer’s session further expounded the concept of the trifecta of decision-making comprising the steps: augment intelligence, automate and learn, and incorporate human behavior.
Men and Machines
Divya C. Bhatt, Business Head- Asia, Africa & Middle East, L&T Technology Services, gave the perspective of the role of digital technologies in amplifying intelligence for achieving the goals of Industrie 4.0, a global framework (originated by the German government) which relates to automation and data exchange in manufacturing technologies. Divya outlined four sequential phases of digital- disruption, ingression, infusion, and transformation- with the pointer that strategy should be lean and mean. Digital technologies such as IoT, analytics, AR/VR, additive manufacturing, and several others come together in an orchestrated fashion to deliver real business benefits hitherto unknown.
In her session, she pointed out to various use cases and case studies ranging from asset management in L&T’s construction management business to tea plantations in Africa and technology transfer and training.
DQ DigitalNext also featured panel discussions on managing digital transformation with scale, managing security, and innovation in digital transformation. The conference was supported by L&T Technology Services, Cisco, HPE- Swan Systems, Checkpoint, and Vehere Interactive.
Digital Leadership Power Panel
- Gaurav Khera, Director- Risk Advisory and Cybersecurity, Deloitte
- Bhuwan Lodha, Vice President – Digital | Group Strategy Office, M&M Group
- Ninad Raje, Director and CIO, HealthAssure
- Divya Bhatt, Business Head- ME, Africa, SEA & India, L&T Technology Services
- Sameer Dhanrajani, Chief Strategy Officer, Fractal Analytics
Panel on Securing Digital Business
- Sameer Mathur, Managing Partner, Vehere
- Manoj Purandare, General Manager – Security Services, Isolarix Technologies
- Ajay Bhayani, Director- IT Security, Ambisure Technologies
- Smitesh Valanju, Head-Cybersecurity, Vodafone
Panel- Lessons for the Digital Transformation Playbook
- Sandeep Raut, VP and Head Digital-APAC, NIIT Tech
- Sarbani Bhatia, Sr. VP-IT, Jagran Prakashan
- Mukesh Mehta, CIO, B&K Securities
- Suresh Shan, Head- Business IT, Innovation, and Future Technology, M&M Financial Services
- Prasanna Lohar, Head Technology- Innovation, DCB Bank