Digitalization – THE HYPE IS OVER – PART 1 (HITS OR ACHIEVEMENTS)
We will break this paper into three parts:
1) Hits or Achievements
2) Misses or Gaps
3) Way forward
As the Digital Wave falls or is subsiding, we can safely say “THE HYPE IS OVER – OR REALIZATION IS DAWNING IN” we need to look at what has been achieved in the past 10 -1 2 years of the Digital Transformation journey, what has been missed and what’s the way forward?
1 - Hits or Achievements
1) Masses have become more technology aware. Consider this India has a population of 1.3 Billion people (Ref 1) and 1.2 Billion mobile phone subscribers (Ref 2). China has a population of 1.38 people (Ref 1) and 1.35 Billion mobile phone subscribers (Ref 2). Out of the 1.2 Billion mobile phone users in India, around 450 million use Smartphones, which means they must be using some app or the other, even if it’s a basic Uber/ Ola or Paytm app. Technological aware masses enables companies and governments to continue the process of digitalization and keep providing better and improved services and products. So, in a way the hype is over, but the journey continues.
2) Government processes have become more transparent, and efficient. Governments across the globe are trying to weed out corruption, become more citizen friendly, show that they are more accountable and responsive, and enhance their image. Technology has been used as a mechanism to project these adjectives which has translated into programs starting with “E’s” or “Smart”. Smart governance or e-governance, e-registration, e-seva, e-ticketing, smart banking, smart parking and so on.
3) Two-way communication and grievances handling improved. Before the advent of social media, the only way to air grievances (not just with governments but on products and services with companies and service providers) was through letters or publishing articles in newspapers. However social media has changed the game and has given an important tool to consumers and citizens to openly talk about their issues, experiences and suggestions. It has worked both ways in helping individuals and groups have a say and air their voices/ opinions and it has helped companies/ governments gain insights into consumer behavior, have a dialog with the users, get product and services feedback and if intended provide remedial solutions.
4) Increased services and products reach. People anywhere in the world now have access to all the services which are available online, can do transactions, know and compare products and services, complete courses, order and consume products are services available anywhere in the world and get benefits no matter what they do and where they live.
5) Competitive world. Since Darwin’s days, competition is always healthy. Competition helps build the best products and services, helps the right talent land at the right places, helps improve governance, increases expectations and enables companies or governments to fulfill them. Digitalization has lowered the bar of entry not just for companies but even for competing talents. People who did not get opportunities to showcase their products/ services/ talents earlier, due to lack of opportunities, have found new ways of attracting business or showcasing their abilities eg: Linkedin, Facebook and even You tube, Tik Tok, apart from normal websites have become new means of marketing and advertisement.
6) New Business Opportunities. Many new vendors, service providers, integrators have sprung up who are trying to help companies do a lot of things from Data Science, trend tracking, consumer behavior analysis, pattern determination, using AI to help in various aspects (from airplane flying to surgeries and defense, surveillance) and many more. Without the digital wave these would not have been possible.
In the next part we will look at the Misses and why do we say – “The Hype is Over”
References:
1. "World Bank Population Data". World Bank. Retrieved April 8, 2016.
2. "Highlights of Telecom Subscription Data as on 31st January, 2019" (PDF). Retrieved April 5, 2019.