Intro. What we mean by digital and AI transformation Flashcards
What is the nature of digital transformation according to the text?
A journey to continuously increase competitiveness
It implies ongoing changes rather than a one-time program.
What percentage of companies have launched a digital transformation according to the survey?
89%
However, they captured only 31% of the expected revenue lift.
What is a common misconception about digital transformation?
That it can be completed with a single implementation of a system or technology.
What are key components of a successful digital transformation?
Hundreds of technology-driven solutions working together
This includes both proprietary and off-the-shelf solutions.
What is the significance of Amazon’s approach to digital transformation?
It invested in technologies and enterprise capabilities, continuously improving them over time.
What has changed regarding technology providing competitive advantage?
Companies can now develop and maintain proprietary applications, not just purchase systems.
What did the analysis reveal about digital leaders in banking?
They outperformed laggards in return on tangible equity and total return to shareholders.
What is one major insight regarding competitive advantage?
It comes from end-to-end business model transformation.
Fill in the blank: Digital leaders integrate _______ analytics and digital marketing campaigns.
personalization
What differentiates digital winners in any industry?
Cross-functional alignment and realigning sales and servicing capacity.
What is essential to build a quality digital talent bench?
An environment where top-notch engineers thrive.
What are the six sections covered in the manual for digital transformation?
- Creating the Transformation Roadmap
- Building Your Talent Bench
- Adopting a New Operating Model
- Technology for Speed and Distributed Innovation
- Embedding Data Everywhere
- The Keys to Unlock Adoption and Scaling
What is the focus of Section One in the transformation manual?
Aligning the leadership team on a North Star vision.
What does Section Two address regarding digital transformation?
How to develop a talent roadmap for digital excellence.
What is the challenge addressed in Section Six?
Driving user adoption and scaling across the enterprise.
What type of companies are examined in the transformation journey stories?
Companies considered leaders in digital and AI transformation.
True or False: The book is a coffee table book with quotable stats.
False
It features practical artifacts such as frameworks and checklists.
What does the term ‘operating model’ refer to in this context?
The management processes and team interactions within the organization.
What is a critical aspect of embedding data in digital transformations?
Architecting data for quality, easy consumption, and reuse.
What is the role of modern software engineering practices in digital transformation?
Achieving high development velocity and code quality.
What are the two technologies mentioned that are central to software engineering practices?
- DevSecOps
- MLOps
What is the primary focus of this book?
Practical artifacts for digital and AI transformations
The book includes McKinsey frameworks, process flows, technology architecture diagrams, work plans, how-to checklists, and team staffing models.
Who is the intended audience for this book?
Leaders and practitioners responsible for digital and AI transformation
This includes CEOs, C-suite executives, and executives leading tech-related changes.
What does this book NOT focus on?
Specific technologies or digital solutions
The book explores a broad array of technologies needed for digital transformations.
Why do companies struggle with digital transformation?
Lack of overall transformation coherence
Many companies find it challenging to establish coherence in their digital and AI transformations.
What is the significance of the term ‘Day 1’ in the context of digital transformation?
It signifies the ongoing nature of digital and AI transformation
Jeff Bezos’s expression emphasizes that transformation is an ongoing journey.
What is the role of the top team in digital and AI transformations?
To undertake organizational ‘surgery’ for rewiring the business
This is crucial for outcompeting with technology.
What is the nature of digital and AI transformation according to the book?
An exercise in constant evolution and improvement
It reflects the modern way businesses operate.
How often does McKinsey update its internal digital and AI transformation method?
Every 8 months
This reflects the fast-moving nature of the digital field.
What can executives expect from this book?
A clear understanding of digital technologies for effective deployment
It aims to reduce confusion and provide practical insights.
Fill in the blank: This book examines how to figure out which digital solutions to _______.
build
The focus is on building and deploying digital solutions rather than detailing specific ones.
What does the book aim to provide to its readers?
A useful and reliable guide for digital and AI transformation
It is intended to evolve alongside the field.
True or False: The book is designed to be read sequentially from start to finish.
False
Each section and chapter is self-contained for reference.
