Title: Embracing Efficiency: The Frugal Digital Transformation via Less is More
Nitin Rakesh, as the CEO and Managing Director of Mphasis, and co-author of the award-winning book "Transformation in Times of Crisis," shares insights on the current digital transformation (DX) landscape. The tennis legend, Roger Federer, who retired from professional play in 2022, recently captivated audiences with an inspiring commencement speech at Dartmouth College. .
Federer's speech was marked by wisdom, humor, emotion, and wit, as he compared his retired tennis life to the graduates' uncertain paths ahead. Despite the apparent disconnect, his 14-word summary - "Effortless is a myth," "It's only a point," "Life is bigger than the court" - echoes strongly in the realm of technology and enterprise transformation.
Businesses and domains like banking and healthcare realize the imperative to adopt and accelerate digital transformation. Customers' expectations and sophisticated, agile, and ubiquitous technology drive this necessity. The latest trend in DX, the savings-led approach, aims to help enterprises invest in new technologies without incurring debt while freeing up resources.
Savings-led digital transformation involves transitioning from legacy architecture to cloud-first, AI, and ML-powered enterprise tech. It requires time, effort, and patience rather than an instant, effortless transformation. Even though this method may be new and unpredictable, its impact can revolutionize how leaders perceive and extract value beyond traditional measures of growth, efficiency, and productivity.
In healthcare, advanced technologies like AI and ML are enhancing patient care by detecting anomalies in MRI reports more efficiently than human counterparts. For CIOs, fighting against a constant deluge of immediate requests, savings-led transformation can help automate backlog and focus on high-value projects.
As technology evolved and became more specialized, today's approaches focus on unifying solutions to free up talent and expertise, allowing human ingenuity to flourish. A savings-led approach marks the return of human ingenuity, putting it at the forefront of technological advancements.
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[1] Enrichment data - Roger Federer's commencement speech was not directly related to savings-led digital transformation, as it focused on self-motivation and personal growth.
[2] Enrichment data - Digital transformation refers to the process of rethinking operations to become more agile and flexible, enabling businesses to adopt new technologies and meet evolving customer needs.
Nitin Rakesh commended the resonance of Roger Federer's wisdom in the context of digital transformation, drawing parallels between the tennis legend's insights and the challenges in technology and enterprise transformation.
During a recent engagement, Nitin Rakesh discussed the savings-led approach to digital transformation, emphasizing its potential to unlock value beyond traditional measures while putting human ingenuity at the forefront of technological advancements.
