CXO Deep Dive | Linda Grasso
Updated: Mar 19
How is your industry preparing for an AI-Centric world?
Technology will be a fundamental pillar in the near future, as it allows us to bring innovation and benefits in almost every industry. The adoption trend of emerging technologies such as Artificial Intelligence will be increasingly growing in the coming years, and it means a brand-new mindset change. Mentioning the AI maturity model, businesses need to scale the following 5 levels to completely embrace this digital technology:
Level 1 - AWARENESS, early AI interest with risk of overhyping.
Level 2 - ACTIVE, AI experimentation mostly in a data science context.
Level 3 - OPERATIONAL, AI in production creating value by process optimization or product/service innovations.
Level 4 - SYSTEMIC, AI is pervasively used for digital process and chain transformation, and disruptive new digital business models.
Level 5 - TRANSFORMATIONAL, Ai is part of business DNA. It won’t be easy, but it’s worth making if you really want to thrive in a disruptive world.
How can companies ensure “customer-centricity” across mobile devices as they digitally transform?
Customer-centricity is key for companies, and they must implement these 10 actions during the digital transformation path:
1) Continuously listening to customers.
2) Consistently following up with customers on their feedback.
3) Acting proactively to anticipate needs.
4) Building customer empathy into processes and policies.
5) Respecting customer privacy.
6) Sharing knowledge internally with customers.
7) Motivating employees to stay engaged.
8) Acting systematically to improve the customer experience.
9) Creating accountability for customer experience improvements.
10) Adapting customer demands and circumstances in real time.
What will be the next evolution of advanced tech that we can expect in the coming years?
How do you achieve successful change management and shifts in culture, mindset and behaviours to adopt new digital tools (especially in large organisation)?
It's a circle driven by the following steps:
STRATEGISE > create vision, ignite the movement, identify value through metrics, define the roadmap.
TAKE THE LEAD > establish governance, mobilize change teams, inspire people, align the change culture.
ENACT > drive smart RPA initiatives, assign process ownership and hold people accountable, make tough decisions, celebrate small wins and successes.
PERFORMANCE ANALYSIS > define metrics and measure performance, bank financial results, monitor performance, communicate outcomes, raise the bar And then... let's start again!
What other aspects during transformation needs to be addressed beyond digital competence?
Sustainability, definitely. It's more important than ever to play out a digital strategy which includes a corporate transformation towards sustainability. Besides performance and status quo, collective intelligence and sense are critical features.
For those who haven't fully embraced the digital world, is it fundamental to future success?
Yes, you have to go digital one way or another if you want to survive.
How do you decide a change would be beneficial rather than disruptive?
It depends on circumstances. Nondisruptive creation means identifying and solving a brand-new problem or seizing a brand-new opportunity; disruptive creation means offering a breakthrough solution to an industry's existing problem. However, they both lead to business growth.
What do you think are the biggest challenges organisations face in the adoption of AI?
Lack of knowledge/expertise to use AI.