Forrester just released their Predictions 2019: Digital Business report. They're seeing 2019 as a year of economic uncertainty. Budgets are expected to see increasing pressure, meaning businesses will need to get back to basics and deliver manageable chunks of innovation while driving tangible outcomes. Winter is coming - no one can afford vanity projects.
For Forrester it's all about focused innovation and driving digital operational efficiency. Outcomes matter - the coming year has to be about action. Gone are the days of the "big-bang" enterprise transformation, digital leaders need to demonstrate near-term return on investment with concrete outcomes. It's about short term gains that underpin long-term ambition.
A perfect example of this is Artificial Intelligence. AI is driving meaningful change but organizations are starting to become wary of over-hyped claims. Digital leaders have scaled back expectations for big wins in favour of automating select processes and streamlining work. Instead of AI delivering predictive analytics, a long term ambition for sure, they're working on using AI to find and auto-classify information across business units. It's baking flexibility and efficiency into their delivery models.
Relying on teams of knowledge workers to find, classify and tag documents across departments and enterprise repositories is costly, inefficient and tends to human error. instead, machines can work tirelessly at enterprise scale, with improved accuracy and less cost while freeing up your workers for more meaningful tasks. Machines are better at classifying, searching and disposing of documents. It's a concrete deliverable that connects and indexes information across the entire enterprise, making future projects possible. (Find out more with our latest eBook!)
Firms need to start measuring a new ROI: Return on Innovation. Tangible benefits that can be realized now as organizations look to weather the winter while investing in the future and planning for sunnier days.