Apple, Amazon, who's next?
Trillion-dollar companies will continue to originate through the adoption of Intelligent Digital technologies.
The two business sides of Intelligent Digital are
So, the companies that have embarked on their journey in this space not only scale their digital business but will create a huge competitive gap among their industry peers, in terms of the topline growth and market cap. Recent examples are the “Product” centric organisation, Apple Inc, and “Platform” based organisation “Amazon” crossing the trillion-dollar market capitalisation. We will soon witness a few more companies crossing the trillion-dollar mark and sustain over there for a longer period.
Market forces will compel the adoption of Intelligent Digital to peel out the competition, as well to sustain in the market to deliver value to customers.
What is Intelligent Digital?
It means bringing forth an industrial change by adopting scalable digital layers and applying algorithmic-based intelligence to elevate the digital experience to customers.
Google’s Artificial Intelligence (AI) powered conversation platform Google Duplex is an example. It helps organisations and individuals handle tasks effectively to save time. Businesses are likely to use this technology to handle executive assistants and general management-related tasks, thereby making life easier for people and business. Mass penetration of the platform within organisations and personal lives would drive Google's topline growth in the coming years.
Now and moving forward, intelligence will get rooted in anything and everything we do. This will enable the creation of new business models, solutions, and ecosystems; thus creating an Intelligent Digital experience for customers.
Intelligent Digital will also become the embryonic layer to drive and deliver the digital quotient of interconnected business ecosystems. To be distinctive and have a unique selling proposition (USP), digital leaders will have to progressively push investment up the integrated value chain.
The convergence of physical and digital has led to the creation of a new digital revenue path for organisations. Now, with Intelligent Digital, the organisation will not only move towards the “Technology first to fast”, but also lead to compounded growth of the topline and placing them as leaders in the chosen industry.
What are the Intelligent Digital technologies?
This will continue to be the prime layer for the digital frontiers, enabling creation of advanced solutions to support progressive business growth. AI will be a significant source of competitive advantage for organisations that show early and broad mastery of this growing technology.
Augmented analytics is an approach that seamlessly systematises the data points using machine learning and natural-language process which provides the advanced business intelligence to make the right business decision, thus bringing an impactful move in the data and analytics market.
These platforms use natural language to remove the complexity from the interface, so users don't have to learn a computational language. Instead, users interact in their natural language, thus shifting the gear towards people-literate technology.
The primary goal of blockchain technology is to add trust within an untrusted environment. The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Blockchain technology touted as the enabler of the next big wave of technology-driven business transformation on a global scale. The smart assets and smart contracts will make the programmable economy possible -- a viable and trusted economic system that enables the production and consumption of goods and services.
If we look back at the Top 100 global companies list in last decade, it's easy to notice that the companies that have embarked in the Product & Platform strategy have topped the list. The ones that haven't. have lost the race.
Here are a few examples of top performing platform/product based global organisations.
Airbnb, Uber and Netflix are a few other platforms-based business areas that are scaling fast in the industry.
This calls out for a deep change in the organisation structure, culture and leadership within the current environment. Smart leaders know that scaling of Intelligent Digital technologies is inevitable and a must to sustain in the market. They will indeed sharpen their focus and move their investments up to reap the digital scale.
The biggest challenge for organisations to scale Intelligent Digital is unlocking good talent and creating excellence across digital technologies. Smart digital leaders will be focussed on creating an interoperable set of services that can be brought together to create applications, systems, workflows, talent, and partnership. This creates a synergetic collection of technology capabilities and components that form a platform. The most ambitious enterprises will look at creating a platform business that brings partners together to create value.
This is the way forward to meet the dynamic needs of customers in the social market. So who is going to be the next member of the trillion-dollar club? Alphabet or Microsoft?
The thoughts and opinions shared here are of the author.
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