The main strategic priority for board directors in 2022, even amid growing challenges like workforce availability and environmental and social governance, continues to be digital transformation.
It’s easy to see why. As technologies relating to big data and artificial intelligence continue to evolve, digital solutions are being deployed that can completely overhaul the economics of a business, whether by delivering great new customer experiences, facilitating massive cost savings, or unlocking insights into customer behavior that can determine new strategies.
Daily, Fractal is helping customers to yield such benefits. In India, for example, the government’s UMANG app provides citizens with a single point of access to over 1,200 government services. Using natural language processing, these services are now available via an AI virtual assistant in 10 of India’s most widely spoken languages, leading to a massive increase in adoption and a dramatic easing of the service burden on government workers. You can read about that project in this issue of ai:sight.
But the wealth of opportunity available from new technology can present difficulties for those who run large organizations. As Mark C. Thompson, a world-leading CEO coach, says: “One of the greatest challenges for leaders in any industry is engaging their people to drive change rather than be run over by it.”
Board directors need to develop a detailed understanding of digital transformation, how that might best apply to their industry and business, and how to provoke the right conversations among their executives to drive effective change, growth, and value creation.
Fractal’s digital board program has been designed to achieve exactly that. Customized according to directors’ priorities and availability and the topics – from data mining to the metaverse – that are of most direct relevance to their business, this innovative new initiative will enable leaders to shift their strategies onto a path for success. Turn to page 3 to find out more.
I hope you enjoy the read.
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