Six habits common to digital transformation leaders
There are six practices common to firms leading in their digital transformation efforts, improving their response to disruption and boosting the bottom-line.
That’s according to a new report from professional services firm EY. The report, entitled: "Tech Horizon: Leadership perspectives on technology and transformation”, consists partly of a survey of corporations and startups across countries and in nine sectors: consumer products and retail; education; energy; financial services; health and life sciences; hospitality; industrial; technology, media and entertainment and telecoms; and transportation and logistics.
Those six are:
Focusing on customers, first and foremost
Accelerating artificial intelligence (AI) to drive growth
Driving innovation through ecosystems and partnerships
Nurturing talent with new incentives and strategies
Activating governance plans for emerging tech
Powering innovation by leveraging data and being agile
In a press release, Dan Higgins, EY Global Advisory Technology Consulting Leader, said: "With so much technology now at the fingertips of business leaders, we wanted to find out if – and how – companies are starting to achieve higher success in their transformations. We hypothesized that we would be able to correlate some common approaches and characteristics to outperformers. As it turned out, while there are many factors impacting companies' top and bottom lines, the research shows that there is a strong link between companies who embrace six core practices and their achievements in improved financial performance."
Other key findings include the fact that, while 44% of “large corporations” deem themselves to have either completed or be well into a programme of digital transformation, 83% of startups have plans to transform in the next two years.
Geographically, European companies were most confident in their digital transformation, with 53% of firms saying they were making good progress compared to 47% in APAC and 35% in the Americas.
Discord buys Sentropy to fight against hate and abuse online
Discord, a popular chat app, has acquired the software company Sentropy to bolster its efforts to combat online abuse and harassment. Sentropy, monitors online networks for abuse and harassment, then offers users a way to block problematic people and filter out messages they don’t want to see.
First launched in 2015 and currently boasting 150 million monthly active users, Discord plans to integrate Sentropy’s own products into its existing toolkit and the company will also bring the smaller company’s leadership group aboard. Discord currently uses a “multilevel” approach to moderation, and a Trust and Safety (T&S) team dedicated to protecting users and shaping content moderation policies comprised 15% of Discord’s workforce as of May 2020.
“T&S tech and processes should not be used as a competitive advantage,” Sentropy CEO John Redgrave said in a blog post on the announcement. “We all deserve digital and physical safety, and moderators deserve better tooling to help them do one of the hardest jobs online more effectively and with fewer harmful impacts.”
Cleanse platforms of online harassment and abuse
Redgrave elaborated on the company’s natural connection with Discord: “Discord represents the next generation of social companies — a generation where users are not the product to be sold, but the engine of connectivity, creativity, and growth. In this model, user privacy and user safety are essential product features, not an afterthought. The success of this model depends upon building next-generation Trust and Safety into every product. We don’t take this responsibility lightly and are humbled to work at the scale of Discord and with Discord’s resources to increase the depth of our impact.”
Sentropy launched out of stealth last summer with an AI system designed to detect, track and cleanse platforms of online harassment and abuse. The company emerged then with $13 million in funding from notable backers including Reddit co-founder Alexis Ohanian and his VC firm Initialized Capital, King River Capital, Horizons Ventures and Playground Global.
“We are excited to help Discord decide how we can most effectively share with the rest of the Internet the best practices, technology, and tools that we’ve developed to protect our own communities,” Redgrave said.