No moment in the journey of Eliminating Downtime has been the same. This month I got to join 40 industry-leaders for the second x Downtime event at the Uptake headquarters in Chicago. The event was co-hosted by Uptake and the creative atmosphere at their HQ led to in-depth conversation about the importance of collaboration and the cultural changes that take place when adopting digital technologies. With each new encounter, I realize that the movement is becoming increasingly important, and others are realizing this as well. 

 
There is a sense of urgency in the industry, and the adoption of digital technologies will cause a major change in the industry leading to improved processes and increased efficiency. Many in the industry are embracing this change and recognizing the importance of great leadership and the nurturing of future talent. Jay Allardyce, from Uptake, spoke about the importance of adopting AI, and he believes that there is no time to be complacent, rather it is time to be curious.

The media has also gotten involved in the journey. Several media outlets have written about both the x Downtime event in London, as well as the event in Chicago. This demonstrates that we are on the right path. There are articles covering the events on topics like “Trackunit tackles downtime” based on our London event, or “Eliminate Downtime event draws indutsry leaders for discussions” from Chicago. 

Companies need to take a leap into digitalization, and this needs to be driven by talent and great leadership. This was reiterated at the Chicago x Downtime event and has led to this month’s reads and the key questions to consider.
  • What role does leadership play in the adoption of digital technologies? 
  • Have you thought about how you can ethically implement AI in your organization?
  • What value are you bringing to your customers through your digital strategy?
 
 

THE IMPORTANCE OF CULTURE IN YOUR ORGANIZATION


Harvard Business Review: "Digital Transformation Is Not About Technology"


Many digital transformations have succeeded, yet many have also failed. It may not be due to a lack of technical understanding or the wrong choice of technology. Rather it boils down to the organization and the culture that comes along with it. The authors of this article understand the need for organizational awareness when adopting new technologies and give five lessons that can help with a company’s digital transformation. These include;

  • The importance of figuring out your business strategy before you invest in any transformation
  • Leveraging your current employees
  • Designing customer experience from the outside in
  • Recognizing that employees fear replacement
  • Bringing start-up culture into the organization
Realizing the future of your organization should drive the use of technology, rather than letting the technology drive your organization. 
 
 
THE IMPORTANCE OF FORWARD THINKING LEADERSHIP

Ernst and Young: "When your board champions AI, will you win the future consumer?"


The cultural changes that come along with the digitalization of an organization needs to start at the leaders. And although this article is more inclined to the consumer products and retail industry, the same lesson for their leaders could count in the construction industry. Here, we look specifically at the adoption of AI, and how board members and leaders play a large role in the successful implementation of AI. It is a powerful tool that can lead to value creation, and the identification or solution of problems. Through the adoption process, organizations will need to recognize that mistakes are part of the process. A mistake should not be viewed as a setback, but rather as a learning opportunity. Leaders need to be curious and forward thinking, so that they can engage their organization. Early adopters of AI will be able to differentiate, and thereby be more competitive in the market. 
 
 
AIM HIGH WITH YOUR DIGITAL STRATEGY

BCG: "The Five Rules of Digital Strategy"



We have visited the topic of digital strategies several times throughout the Inside Eliminate Downtime newsletter series. But it is a crucial topic in the digitalization of organizations and can often be the difference between success or failure of a company’s transformation. According to BCG, there are five rules that should be implemented and followed to succeed. These are; assessing the strategic impact of digital, set your digital ambition high, place big bets, build new strategic muscles and manage transformation actively. Throughout the article, the authors give several examples of companies that use these rules for a successful transformation. Following these 5 rules will allow you to get the most of your people and your digital investments. 
 
 
Together, we will eliminate downtime. That is how we propose to go about the journey that lies ahead of us. To further illustrate how we feel about downtime we have created a video that introduces the journey to everyone. Check it out here.

Through collaboration and partnerships we can get closer to our goal of eliminating downtime by 2025. 

If you have any great reads, please share them with me at: sbj@trackunit.com

- Søren Brogaard Jensen, CCO Trackunit
 
Trackunit
Gasvaerksvej  24
DK-9000 Aalborg
 
Copyright @2019 Trackunit

Gasværksvej 24 • Aalborg, Nordjylland 9000 • Denmark • Click here to unsubscribe.