If there’s one thing that the COVID-19 disruptions have taught technology leaders, it is to embrace change. As change is the only constant. For adjusting to extreme situations during the pandemic, businesses adopted several new strategies to stay afloat in the market. And those who succeeded became the Master of Change. The pandemic also proved that technology leadership is as significant as any other leadership. Technology helped companies have a clear vision and focus on their digital transformation and also successfully achieve it.
Businesses with visionary technology leaders do not wait for the “new normal” but create one by prioritizing tech, removing the conventional practices, and preparing for the future. Such an attempt will transcend business financial gains and focus on the value created in people’s lives, impact on the environment, and more.
How Technology Leaders Can Shape the Future
While technology immensely helped to sail through the pandemic, it still defines how you work, interact, and coordinate with your peers or customers. To enhance your business and add value in every stage, here are some trends technology leaders must adopt to reshape the future.
1 Stack for a better future
Technology architecture will be the main focus of companies in the future. You can tailor-build every layer of the architecture required for your business by thinking differently. If your business and technological strategies are indistinguishable, you will scale better amongst your competitors. And the cloud is one of the major areas of investment. From cloud deployments, AI models to hardware design, you can expand every layer of the stack as per your needs.
2 Build digital twins
Digital twins or a mirrored world is another aspect technology leaders can concentrate on. Today, one can represent more of the physical world in digital space. For instance, you can create the models of entire factories, product life cycles, supply chain, etc digitally. Then connect these massive networks of twins to bring data and intelligence together to focus on the bigger questions and reimagine how to innovate and collaborate creatively.
3 Democratize technology
Democratizing technology frees technology leaders of redundant activities and helps them focus on innovative solutions for the business. As natural language processing, robotic automation, lower code platforms, etc., become a part of enterprise innovation strategy, every employee can be an innovator. With the right technical skills, they are empowered to build digital solutions, fix their pain points, and optimize work on their own. They can even build solutions for other teams in the enterprise so companies can use in-house tools across different teams.
4 Create multiparty systems
The pandemic has infused a new concept among business and technology leaders: “bring your own environment.” Being forced to switch to remote working abruptly, companies invested more in technology for smooth functioning. And by doing so, they became more agile, resilient, and made working from anywhere, a possibility. The flexibility of work also gave employees a better experience and saved companies enormous amounts of capital.
5 Establish an accessible environment
If businesses have and are serving the pandemic and still functioning well, it is because of the multiparty systems. These systems share data seamlessly between employees and companies, which ultimately drives efficiency, builds new revenue or business models. These include distributed databases, blockchain, distributed ledger, etc. Multiparty systems help to get the right product to the right customer and also ensure the smooth execution of business functionalities.
Businesses are now facing a new era of competition. The only way to sustain and survive is by embracing new technological trends and building intelligent solutions. Every leader must think like a technology leader. They must invest time, capital, and efforts to make their enterprises self-sufficient and be open to adopting changes as and when necessary.
So, are you a true technology leader?
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