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The first “Doing Digital Forum – Exploring Digital Future” will be held in Yerevan on 5 April to study the current trends and best practices around the digitization process in Armenia and globally, discuss failures and challenges, and outline solutions. The Doing Digital Forum’s founder and organizer is SPRING PR Company, co-organizer - Ameriabank.
Ahead of the forum, NEWS.am Tech organized a series of interviews with the speakers of the forum. We have a talk with Elena Tofanyuk, the First Deputy Editor-in-Chief of Forbes Russia.
How do you define digital transformation, and why do you think it's crucial for businesses and various industries today?
Digital transformation is a disruptive process that every new or incumbent company faces, considering the speed at which new digital technologies develop. However, disruption is not a new thing. Consider Studebaker, which was originally a coachbuilder that manufactured wagons, buggies, and carriages. The company embraced new disruptive technology and entered the automotive business in 1902 with electric vehicles and in 1904 with gasoline vehicles. However, Studebaker disappeared 60 years later. This is why digital transformation and new technologies are so important - disruption is always present, and we must see and embrace it. However, it's essential to remember that digitization should serve a business purpose, such as increasing efficiency and operational excellence, rather than being done just because it's trendy.
What are some of the most significant trends or technologies driving digital transformation now and outlined in the future?
Gartner's 2022 Hype Cycle for Emerging Technologies highlights several new trends and technologies that are expected to significantly impact business and society over the next two to 10 years in the context of digital transformation. One of these is the digital twin of the customer (DToC), a dynamic virtual representation of a customer that simulates and learns to emulate and anticipate behavior. The DToC can be used to modify and enhance the customer experience and support new digitalization efforts, products, services, and opportunities.
The second trend is accelerated AI automation. Autonomic systems are an example of accelerated AI automation. Autonomic systems are self-managing physical or software systems that perform domain-bounded tasks exhibiting autonomy, learning, and agency. Autonomic systems are useful when traditional AI techniques cannot achieve business adaptability, flexibility, and agility.
Finally, the third trend is optimized technology delivery, which focuses on key constituents in building a digital business, such as product, service, or solution-builder communities and their platforms.
What advice would you give to entities embarking on their digital transformation journey?
To keep a close eye on emerging technologies, pivot in a timely manner, and remember that the human mind always underestimates how quickly technologies develop. It's worth remembering the cases of Nokia and Kodak - companies that missed out on new technologies and lost their leadership, market share, and, eventually, their businesses. There is an interesting fact about mature firms in new environments - what made them successful in the past, which may have been their core capability, becomes a core rigidity as the industry shifts because they are unwilling to change. Kodak, for example, was very aware of the emergence of digital technology. They tried to transform, but they seemed to be a step behind. Perhaps one of the reasons they struggled was that they were essentially a chemical company, with all their talent and resources in chemical engineering.
What main topics will you discuss in frames of DDF?
Media and journalism have been at the center of digital disruption in recent years. We have faced challenges from news platforms such as social media, YouTube, and even Netflix. Content creation has become extremely easy, and barriers for media businesses have collapsed. Many new content creators have emerged, from professional journalists to those who inform the public through social media platforms like Twitter. The value chain in media has been disrupted, as people no longer want to pay for information from media outlets when they can get it from the crowd. One of the negative consequences is the loss of fact-checking, leading to a storm of fake news and manipulation.
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The event’s innovation partner is Visa, blockchain partner is Fastex, and investment partner - Apricot Capital.
20 top speakers from Armenian and international entities, such as Singapore University of Social Sciences, McKinsey, Forbes, Visa, Hexens, FAST Foundation, Revytech, Fastex, Beta Financial Technologies, Apricot Capital, ICDT Global, as well as RA Government, Central Bank of Armenia, Information Systems Agency of Armenia, SPRING PR Company and Ameriabank, will share their insights on digital business and technology through keynote speeches, panel discussions, and visionary speeches.
The upcoming event will focus on how digital transformation fosters business growth and innovation. Participants will explore strategies for adopting new technologies, gaining a competitive edge, and best practices for data protection and cyber security risk management. The forum's esteemed speakers and panelists will also delve into the latest trends in cryptocurrencies, the Metaverse, and NFTs, examining their potential benefits and associated risks.
The event is open to all interested in digital transformation, including business leaders, IT professionals, entrepreneurs, startups, investors, government officials, PR, marketing, and sales executives.
Other interviews of the series:
To stay competitive digital transformation of companies has no alternative – Hovhannes Toroyan
Investing from anywhere, anytime has become a crucial digital transformation trend: Vachik Gevorgyan
