Sep 4, 2020
Joining Dan Neumann once again is Dr. Jerry Smith who you may remember from a bonus episode of the Agile Coaches’ Corner a few weeks back!
Dr. Jerry Smith is AgileThought’s Managing Director of Analytics and Data Science. As a practicing AI & Data Scientist, thought leader, innovator, speaker, author, and philanthropist, Dr.Jerry Smith is dedicated to advancing and transforming businesses through evolutionary computing, enterprise AI and data sciences, machine learning, and causality.
In this episode, Dan and Dr. Jerry Smith explore the topic of digital transformations. Jerry takes listeners through what the process of a six-step AI-driven digital transformation process looks like, the challenges of the process, as well as the key benefits.
What is a digital transformation?
Changing the behavior of the organization in relation to their customers
Changing their journey map so that they can achieve the business outcomes they want
Looks at changing the behaviors to create new opportunities
It is not ‘transforming digitally’ (i.e. moving to the Cloud, etc.) — the order of words is important to note
AgileThought’s AI-driven digital transformation:
It is a six-step process that gets a business to actually bend their business curve
It is implemented in a set of capabilities; there are over 67 capabilities that transition an enterprise’s data and transform it into insights and actions and is a systematic process
This process puts a customer into the position of changing their business
(1) ‘Data is the debris of human activity. We collect it all, but all is not important.’
The first thing that is done is data collection
The most important question to ask when you begin is: “What is data?”
Data is because of us; not in spite of us
(2) ‘We determine what data is causal to the business problem. This allows us to only focus on those areas we can control.’
You need to ask: “Of all this data we collect, what is causal to my business problem? What should I be focusing on?”
(3) ‘Using causal data, we build digital twins — surrogates — of the problem. We create an artificial model of the real world.’
They build high-quality, predictive algorithms (from step two’s causal data/input)
Changing this data changes the business outcome
(4) ‘Within the artificial world, we organically grow perspective solutions designed to optimize the business outcome.’
Now that you have the model it is important to optimize the digital surrogate
(5) ‘We implement the prescriptive solutions, wait for change, and collect new data.’
In this step, you are running through optimization, changing those inputs, and looking for a combination that results in that output achieving the business goal
(6) ‘The cycle repeats, bending the business curve.’
When you have the behavior of the people that marketing, sales, and product development will have to change, you can then wash, rinse, and repeat
When you go through the six-step process in cycles you need to give enough time to see the ripples go through to see the changes and continue to iterate and refine
“This is why this six-step process is important for customers; because for the first time we’ve actually connected business and IT together.” — Dr. Jerry Smith
Mentioned in this Episode:
AgileThought Event: “Virtual Community: Building an Agile Mindset During COVID-19”
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