THINK Week in Review – The Digital Mindset Edition

A "digital mindset" is not about using technology alone although that is a large part of it. While caused by the growth and evolution of disruptive tech, it is defined by a different perspective of the world. An individual with a "digital mindset" understands the power of technology to democratize, scale and speed up every form of interaction and action. And, a digital mindset requires to remain curious and keep learning. While you get ready for THINK 17 to start your digital transformation journey, enjoy these 5 stories of the week. Machine Learning, AI and the Future of Data Analytics in Banking. “While barriers exist and banks may be slow to adopt to digital, AI, automation and other technologies are gaining momentum and have the potential to mold the industry in completely new ways.” Taking digital transformation beyond the digital. "An important element of any transformation is leadership from the top. While many aspects of digital transformation may be part of a grassroots movement within the organization, it's going to ultimately require inspired, forward-thinking management vision. The C-suite and upper management will ultimately be responsible for integrating the transformation across the silos. To execute this strategy, the C-suite must rethink traditional roles and responsibilities and ensure that a consumer-centric approach is in place to implement these new strategies.” Successful digital transformation is more than meets the eye. "A true business transformation requires more than just the adoption of new technology. Digital transformation usually starts with some kind of technology upgrade, but that’s only the first step. True transformation also requires changes in your business processes, your employee and leadership behavior, and ultimately, your corporate culture. Changing technology might be easy, but changing the people, processes and culture is hard.” A warning from Elon Musk, Bill Gates and Stephen Hawking. “The automation of factories has already decimated jobs in traditional manufacturing, and the rise of artificial intelligence is likely to extend this job destruction deep into the middle classes, with only the most caring, creative or supervisory roles remaining.” Remaining relevant in transformative times through re-invention. “The three defining characteristics of life are Change, choice and chance. We become what we have because of chance happenings like who we were born to and where we were born or the chances we took or were given as we grew older. It’s the choices we made or the choices that others made whether it was who loved us and who employed us. And all the while change kept happening. Change in the world around us, change within us.”