Sharing by Isabel dos Santos

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by Isabel dos Santos

What changes with Digitalization?

Bloomberg Forum

Digital transformation is about change, speed, connectivity, real-time economy, future. And this transformation is just beginning. As it continues its advance, the implications for businesses, cities and our lives will be tremendous.

The world is changing rapidly driven by technological breakthroughs. In 1997, there were less then 700,000 industrial robots; today we have 1,8 million and next year we’ll have almost 3 million industrial robots. There’s no way to avoid this: artificial intelligence is already a reality and enterprises should be aware of this turning point. The main challenge is how to make digitalization work for us and how to integrate it successfully in our business models and in traditional industries.

A real enabler to economies

Recent papers demonstrate that executives are acknowledging the importance of Artificial Intelligence: 72% of executives believe it will be business advantage, they will use Artificial Intelligence to meet business problems; 54% said that already increased productivity; 64% of executives say would offer employees new work opportunities. I believe in this transforming force. Digitalization is a real enabler to economies in every continent, including Africa, and works as a multiplier factor.

More productivity

Thanks to digitalization, productivity soars, while drastically lowering costs for businesses and industries, benefiting everyone, including consumers. The e-commerce, for example, is bringing revenue growth by 30% and reducing costs by the same amount. Marketing campaigns will increasingly be targeted to our particular interests.

In Industry, digital transformation allows machines to work almost seamlessly, provides intelligent power consumption, and real-time tracking and monitoring of all processes. On the other hand, workers can leave mechanical and repetitive tasks and embrace more stimulating challenges in the supply chain. Productivity increases, and the human error becomes limited. As an example of the digitalization process, accident rates can drop 98% in autonomous cars.

New skills

Innovative ways will emerge in the job market, more focused on behavioral skills and on technological expertise. The analysis, the ability to read the world, predict challenges while providing answers, will always be related to humans. In order to survive this digital revolution, we must be prepared to accept it, acknowledging its challenges and difficulties, but above all to be open to change.