Companies that operate exclusively online have almost universally embraced digital transformation, said Fujitsu, a provider of IT products and services for the global marketplace, in a new report, highlighting the six success factors of digital transformation.

Meanwhile, two-thirds of companies with more traditional operating models have transformation projects in progress, Fujitsu added in its study titled “Global Digital Transformation Survey Report 2018”.

The business drivers behind transformation initiatives differ across industry sectors. Finance, manufacturing and healthcare are primarily motivated by the need to increase operational efficiency while transportation companies are driven mostly by responding to competitive threats and retail companies by a hunger for growth.

Outside of the online-only companies surveyed, the finance industry is the furthest advanced, with nine out of 10 financial services companies planning, testing and/or implementing digital transformation. This sector is also the furthest advanced in terms of delivering outcomes.

Outcomes of digital transformation

Many companies have already attained the business results they expect from their digital transformation initiatives. In finance and retail, about 30 per cent of projects have delivered successful outcomes, while in other sectors are: transportation (25 per cent), manufacturing (21 per cent) and healthcare (14 per cent).

Success factors of digital transformation

Six factors seem to determine the success of outcomes from digital transformation projects: leadership, people, agility, business integration, ecosystem and value derived from data — capabilities that might be seen as a company’s digital muscles.

Attitudes to AI

Business leaders understand that AI is set to have a significant impact on their industries, organizations and wider society. The bulk of respondents are positive about its future development, with 68 per cent believing that the future will involve people and AI working collaboratively. – TradeArabia News Service