Magazine : 
Digital Transformation - Key Aspects Every Business Owner Must Be Aware Of
In his career spanning over 36 years, Tessler has successfully handed leadership positions across Xerox and HT Consulting, prior to coming on board Noventiq in 2022. Owing to his vast industry experience, he is Board Member of numerous organizations such as Value Point Systems, DigiTech, Seven Seas Technology and MUSICBREEDS.
In an exclusive conversation with Siliconindia recently, Herve Tessler, Global CEO, Noventiq shared his insights on the emerging digital transformation trends and various other key aspects. Below are a few key extracts from the same
Share your thoughts on the current digital transformation landscape in India.
Driven by significant advancements in technology and government initiatives which aim to promote digital literacy and innovation, India’s Digital Transformation journey has been commendable. The IT and startup ecosystem is flourishing, making substantial contributions to the economy and fostering innovation. Also, the development of e-commerce and digital services has enabled accessibility to essential services, aiding in bridging the urban-rural divide. Another crucial point driving digital transformation is the rapid adoption of AI and substantial investments from global technology giants like Microsoft, Google, and AWS.
However, the digital divide, cybersecurity & data privacy concerns, and infrastructural constraints are pertinent challenges that need to be addressed to sustain and enhance digital growth. A focus on comprehensive digital development, a robust legal framework for cybersecurity and improved digital infrastructure, especially in rural and remote areas are crucial. In a nation like India, leveraging technology – and more specifically, Digital Transformation - serves as a powerful catalyst for diminishing social inequalities. I believe that to leverage the full potential of Digital Transformation, a collaborative approach involving the government, industry, academia, and civil society, along with continuous efforts in policy refinement and investments in digital literacy and infrastructure are imperative. This approach will ensure equitable distribution of digital benefits, contributing to overall national progress and development.
Throw some light on a few cutting-edge technologies that are driving digitization worldwide today?
Being on top of the agenda in almost every boardroom meeting worldwide today, AI is truly revolutionizing everything as we know it. Encompassing Generative AI and NLP, AI and ML are enabling human-like content creation and language understanding at all levels. Similarly, blockchain is also revolutionizing transactions with secure and transparent solutions, fostering innovations all over the world. Additionally, cloud computing continues to remain fundamental in providing scalable computing resources facilitating digital transformation.
Briefly explain about the various advantages and challenges associated with implementing digital transformation.
In today’s rapidly evolving business landscape, digital transformation is a double-edged sword, promising unprecedented benefits while presenting formidable challenges. Embracing digital technologies streamlines operations, reduces manual tasks and increases efficiency, which further results in cost savings and faster decision-making. Digital transformation also empowers businesses to tailor offerings to customer preferences and offer round-the-clock support via digital channels to enhance customer satisfaction and loyalty. Also, the wealth of data generated by digital tools offers invaluable insights into consumer behavior and market trends to enable data-driven decision-making for businesses. Digital transformation allows businesses to extend their reach and cater to a broader audience, thus opening doors to increased revenue and international expansion. By embracing digital technologies, businesses foster innovation and can develop new products, services or business models to achieve a competitive advantage in a fast-paced market.
Even though going through a digital transformation process is almost mandatory today, this process also has its challenges. Implementing digital transformation requires an investment in technology, training and infrastructure, which might be an uphill task for smaller enterprises. Also, employees and leadership may resist adopting new digital processes and tools, which might prove to be a major hindrance for the transformation process. Most importantly, as businesses digitize operations, they could become targets for cyber threats and data breaches, thus pushing the need to implement robust cybersecurity tools.
What are some of the key lessons Indian businesses can take from their foreign counterparts pertaining to digital transformation?
To be honest, I’m proud to operate in markets like India where the opportunities are enormous and the investments & value in technology are growing rapidly. I strongly believe India can actually teach many lessons to other countries such as harnessing the vast pool of skilled IT professionals, global talent acquisition & collaboration, embracing cost-effective & scalable IT solutions such as outsourcing and offshoring, leveraging the power of a diverse & multilingual market for localization & expansion strategies, and many others.
However, it is true that India could, like any other country, improve the way they approach digital transformation and take the example of other countries which embrace a data-driven decision-making, focus a lot of their resources in cybersecurity and excel in digital marketing and e-commerce. Optimizing supply chains and adapting global strategies to local markets could also be something to improve. By applying these insights, Indian businesses can enhance their digital transformation initiatives, become more competitive and better cater to evolving customer needs and market dynamics.
What does the future hold for digital transformation in the near future?
Driven by artificial intelligence (AI) and large language model (LLM) technologies, digital transformation is set to revolutionize our lives. It will bring personalized convenience in services, improve healthcare through diagnostics & telemedicine, enhance education with personalized learning, optimize business functions, provide better financial advice, revolutionize transportation with self-driving vehicles, enrich entertainment content, and contribute to sustainability efforts. Additionally, AI will enhance accessibility for people with disabilities, aid in legal & compliance tasks, accelerate R&D and bolster security. However, companies must also keep in mind the ethical and privacy considerations while implementing these advancements.
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