What we think – RM Dayton Analytics

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The keys to business success are going to look very different as we approach mid-century than they do now. Just look at the past decade, the transformative shifts that occurred during the 2010’s. How should leaders prepare their companies for the future of work, so that they can thrive over the next quarter century?

Competing in New Ways

To be successful, the old ways of executing on competitive strategy won’t always be relevant. Business competition has moved into new directions, requiring companies to re-think everything on how they can be a disruptor rather than a has been. You used to know how to plan, and truthfully, with some rather simple algorithms and a traditional view of the workforce. To compete in the coming decade, more agility will be required.

Don’t Cook with Wood

Yes, there is hype. But once you peel off the veneer, there is genuine potential in the raw materials of technologies such as enterprise AI, natural language processing and blockchain. Companies should be experimenting on how to incorporate these newer technologies. After decades of only promise it seemed for AI, for example, it truly has now gone prime time.

Go Forth

Like it or not, enterprise AI is now a necessity. There is much complexity brought forth by digital transformation and advanced analytics. Going through the initial learning curve on enterprise AI will have some pain initially, particularly without the right people, but leaders will need to plow through these first phases of this new transformative era. Launching AI is easy, scaling it is tough, but you’ve got to walk before you can run.

We’re Way Beyond That

Let’s face it, it’s tough to scale AI in our collective current mindset. We’re way post traditional BI applications, where you extracted transnational data for data input, put a tool in place, then rendered it pretty with some nice and likely pricey data visualization tool. Quantum shift alert. It’s not like that anymore.

Get on a Good Vector

Pilot use cases can help companies adopt agility in learning and testing AI, which will be invaluable over the next decade. You need to have people working at your side, skilled in the technologies, and whose only objective is to push forward the use case to the most successful conclusion it can attain within unmovable organization constraints. Then in the next iteration, you want these same people with the right mindset to disassemble the barriers.

Aligning the Right People

Aligning Tomorrow's Knowledge Worker™ with technology will help companies gain a competitive advantage. Enterprise AI, machine learning and advanced analytics have brought forth a plethora of knowledge blocks to be reached out and internalized. Encapsulating that knowledge opportunity is key to avoid gravitating towards mediocrity.

Industry Reinvigorated

If there were secret sauces for business success during the 2010’s and decades of yore, most of them simply not going to work any longer. Now, we can’t predict the future. But one thing’s for darn sure certain. To beat the competition in the next decade, you’re going to need to rethink a whole bunch of things. What's your secret sauce for the 2020’s going to be?