Digital Banking 19
What has been done so far?
What
is "digitalization"? Is it really that complicated or do we confuse
ourselves?
Is
it "digitization"? No, but the former does not exist without the
latter. Although some restaurants get it - now the television cooking shows are
quite trendy -, it is difficult (and likely unwise for customers) to deliver tasty
and healthy food with a messy and dirty kitchen. Large IT vendors like pointing
out that large “digital” investments are taking place in the renovation of the
core. They are really investments in digitization, not digitalization …but no
shame on them …digitization is not that sexy …unlikely to be politically worthy
the funding (mammoth in most cases) ...but as it is needed … someone may wonder what has
been done so far.
Is
it "innovation"? It is not, but nowadays innovation focuses mostly on
bringing new things to society (and the market!) through the use of digital
media. Explanation from HSBC Head of Innovation is the best I've heard so far http://www.finextra.com/video/video.aspx?videoid=924
... but innovation does not have to stick to the use digital media and it is
meant to provide new real stuff (no variations or evolutions of what already
exists) ... puff, that is tough … to come up with “status quo breaking” ideas, …
nobody said it was going easy …and though companies have always had Innovation
departments ... someone may wonder what has been done so far.
Is it "ambition"? No, but ambition - properly understood - is what leads
companies to pursue the growth rates and valuations of digital business
companies. We may think that they have taken advantage of digital media (the
famous SMAC I referred to in a previous post) or demographic changes - world
population has doubled since I was a child - ... but these elements were there
for the rest too, hence there must be other reasons. I believe it is corporate
culture, …and let’s be clear - even making someone feel uncomfortable -, it is American corporate culture, … a culture of reward
and punishment based on meritocracy - where there are winners and losers - ...
and we have been talking about meritocracy for years ... someone may wonder
what has been done so far.
Now
it is the time, and it is much better - and more fun – to have a room for improvement.
Who lives in the past is already old, who is excited about the future is still
young. For your reflection:
And
finally, some exciting topics for those who like reading:
- Things to do in the morning … http://www.fastcompany.com/3050983/know-it-all/productivity-experts-share-their-10-best-tips-for-a-morning-routine-makeover?utm_source=mailchimp&utm_medium=email&utm_campaign=fast-company-daily-newsletter&position=6&partner=newsletter&campaign_date=09172015
- Impact on resources and market possibilities ... http://www.statista.com/chart/3823/the-worlds-population-is-set-to-reach-11-billion-by-2100
