How will you make Ai and digital transformation a positive change?
Machines will, in the future, replace some of most people’s working tasks, replacing repeatable, ordered tasks. But machines are weak at understanding people’s mood, and developing and building trusting relationships. So, you will need to build and leverage the soft skills of your people to give you a competitive edge. You need to build your value proposition on the human skills in your company to provide differentiation.
You will need to strengthen your relationships with your customers to build barriers to the competition. To strengthen external relationships, you will need to strengthen internal relationships. To strengthen internal relationships, you need to break down silos, and review your business processes, technologies and data, to make it easier for you to do business. Share insights from your data between departments and use technology to work together and build trust.
Technology can increase trust between a company and customer, enabling transactions between them. Blockchain is a great example of a technology that builds trust between individuals to allow transactions to occur. Blockchain eliminates the need for centralised institutions like banks or governments to facilitate transactions, creating a transparent, autonomous system for exchanging value.
This TED talk: How the Blockchain will radically transform the economy, by Bettina Warburg explains the importance of Blockchain in future business transactions.
As transactions become more transparent, and customers have more control over the sales process, people’s idea of trust is changing. No longer do people rely on institutions; they are putting their trust in platforms like Airbnb and Uber. Is this bringing about a more inclusive and accountable society? Rachel Botsman discusses this in her TED talk: We’ve stopped trusting institutions and started trusting strangers.