Organizations are increasingly struggling to keep pace with technological change.
According to PwC’s 2017 Digital IQ survey, which polled 2,216 business and IT executives from 53 countries, just 52 percent of respondents said their organization has a “strong digital IQ.” That’s down from 67 percent in 2016 and 66 percent in 2015. What’s with the dip in confidence?
As Harvard Business Review noted:
It’s not that employees are getting less tech-savvy; it’s that the market demands more of each and every one of them. The word “digital” used to mean your company’s investments in IT, and perhaps social media readiness, but now it’s bigger, touching on your company’s overall culture.
As business processes become increasingly “digital”—and roles become more complex—we’re entering an era of uncertainty about hacks, data breaches and privacy. The looming “internet of things,” which promises to further connect, intertwine and digitize everyday items, isn’t helping anyone sleep better. Forty-two percent of executives view the internet of things as “disruptive to their business model.”
Investment in staff preparation to handle new tech is a major issue. PwC highlights the “essential eight” emerging technologies to prepare for:
- Internet of things
- Artificial intelligence
- 3-D printing
- Augmented reality
- Virtual reality
Are you up to speed on all those? If not, you’re far from alone. PwC notes that the organizations it surveyed are spending just 18 percent of their digital tech budgets on emerging technologies.
To improve your team’s tech skills, Harvard Business Review suggests the following:
The first step is to raise their digital IQ; the next step is to give them the tools they need to succeed. To that end, companies need to invest in great tools that will allow them to raise their workforce’s digital IQ, such as Slack, a messaging tool for businesses; Dynamic Signal, a company communications platform; and ActionIQ, a customer data platform for marketers.
Of course, access to tools and resources is just part of the equation. Keeping pace with the shifting digital sands requires intentional investment, continuous training and agile strategic planning. It’s impossible to master all this new tech all at once, so it’s crucial to pick your spots and keep everyone on the same communication page. Find specific niches to focus on, and be willing to pivot when trends change.