There is no reason and no way that a human mind can keep up with an artificial intelligence machine by 2035. – Gray Scott, Futurist & Techno-philosopher

In 10-15 years time, an Artificial Intelligence (AI) could be helping to run your company.

Larry Schmitt
There is no reason and no way that a human mind can keep up with an artificial intelligence machine by 2035. – Gray Scott, Futurist & Techno-philosopher
In 10-15 years time, an Artificial Intelligence (AI) could be helping to run your company. An AI could be “sitting” on your board of directors, at the right-hand of your CEO, informing and guiding major decisions.

This is a fairly lengthy and comprehensive report put out by the World Economic Forum, with Accenture, on the coming digital transformation of industries. The work (surveys, etc.) was done in 2015 and the report was published in January 2016, but it is still highly relevant. The report looks at the nature of digital transformation, what it is and what is causing it, as well as makes specific recommendations regarding everything from the nature of the new workforce to the necessity to change business models.

In this report, McKinsey identifies five dimensions of Digitization that are affecting businesses today:
  1. Digitization of products and services – putting intelligence into the things you offer your customers
  2. Digitization of marketing and distribution – gaining insight into individual customer behaviors, motivations, needs and desires
  3. Digitization of ecosystems – the rise of platforms and their use as the foundation for new offerings
  4. Digitization of business processes – making internal operations more intelligent from manufacturing to legal, HR and R&D
  5. Digitization of supply chains – Increased control, efficiency, security and performance of globally connected, multi-node supply chains.
Currently, about 49% of companies are focusing on digitizing their markets and distribution, 21% on digitizing their products and services, 14% on their business processes, 13% on their ecosystems and only 2% their supply chains. The digitization that is happening in these five areas is putting downward pressure on companies’ revenues and profits, respectively estimated by McKinsey to be on average -12% and -10%.