Enterprise executives talk about digital transformation: not a choice but a mandatory course, the transformation task is arduous

In recent years, the digital economy is booming, what are the feelings of enterprises about digital transformation? How to improve market competitiveness with the help of transformation, how to deal with the challenges of security risks?

"From our contact with enterprises of all sizes, there is generally a great deal of anxiety about digital transformation." Hao Jian, Executive President of Hexagon Manufacturing Intelligence Greater China, said that at the current stage, digital transformation is no longer a multiple choice question for enterprises, but a mandatory course.

Enterprises to promote digital transformation, what to consider? Yuan Yituo, general manager of Microsoft Enterprise Business Division China, mentioned three aspects - whether the organizational culture of the enterprise can support transformational change? Can business leaders clearly define their approach to transformation? Is the enterprise itself capable of rapid iteration and correction?

At the First Finance Summit of the 3rd MNC Leaders' Summit in Qingdao on the 21st, a number of Chinese and foreign enterprises and financial institutions discussed issues related to the digital transformation of enterprises.

The task of transformation is arduous

"Change is what everyone (enterprises) needs, but digital change is difficult to realize in old, traditional industries. Many companies are now full of ambition and want to make digital changes, but it's hard to move forward." Pu Dai, Co-President of Roland Berger's Global Management Committee, pointed out.

Pu Dai mentioned that at present, it is extremely challenging for enterprises to implement digital transformation, and a large number of digitalization projects are still at a relatively early stage. According to Roland Berger's digitization project research, about two-thirds of digitization projects are still in the early stages.

According to Hao Jian, when enterprises are in the process of digital transformation, they have to consider three questions - why do they need to transform? How to transform? What tools are used to realize the transformation?

Combined with the size of the enterprise volume, Hao Jian believes that large enterprises can take a private customized transformation program, from the top design to build digital transformation program. And medium-sized, small and micro enterprises do not have the above resource capabilities, can be more with policy support, government subsidies and other ways to achieve transformation.

"Some of the enterprises we contacted now adopt the idea of 'smart change digital transformation', adding digital transformation on top of the original intelligent transformation." He mentioned that companies also need to consider the specific direction of transformation, driving either product transformation or operations and maintenance transformation.

"In addition to the enterprise to achieve digital goals, digital transformation should also bring practical benefits and returns to the final customer, the enterprise's investors." According to Yu Feng, President of Honeywell (China) Co.

Xu Zhengchuan, deputy director of the Smart City Research Center at Fudan University, pointed out that the digital transformation of enterprises can be divided into three phases - first, digital conversion, that is, from online to online; second, digital upgrading, that is, the application of digital systems, big data, etc. to improve the efficiency of; and third, digital transformation, the corporate culture, organizational performance and the outside world to connect, so that businesses and enterprises can reach a greater range of cooperation.

At the strategic level, Zhou Bing, Global Vice President of Dell Technologies Group, proposed that enterprises should build the leadership of future enterprises or organizations through a new generation of information technology, including productivity, innovation, service, and vitality.

Among them, productivity is embodied in the enterprise data intelligence, platform architecture comprehensive cloud, terminal man-machine highly collaborative; innovation is embodied in the enterprise to accelerate the landing of intelligent applications, real-time business real-time data flow and so on.

Enterprises increase technology investment after the epidemic

How can the urgency of enterprises to promote digital transformation be realized? How can digital technology help companies enhance their growth prospects?

"During the epidemic, we found that multinational enterprises with a higher degree of digitization were less affected by the epidemic, and that digital transformation can effectively help enterprises cope with external uncertainties, and is a must for enterprise development." Yu Bing, President of JPMorgan Chase Shanghai Branch, spoke.

He said, multinational companies in the wave of digitalization, on the one hand, to combine their own global advantages and the characteristics of the Chinese market, in line with China's regulatory, security, compliance and other requirements, to meet the needs of customers, and the timely introduction of more and better services; on the other hand, multinational enterprises are also China's local research and development of innovative projects, services, technology to the global promotion.

From the technical level, taking 5G technology as an example, Mr. Meng Park, Chairman of Qualcomm China, said that as one of the fundamental elements of the digital economy, 5G will provide a boost to more enterprises and industrial cases.

Specific industry applications, 5G will accelerate the transformation of the development of intelligent networked cars; in the field of intelligent medical care, "5G + intelligent first aid" can shorten the time to find the patient, quickly locate the hospital to save treatment, reduce the operation time, and so on.

Han Dong, Director of Government Affairs of Philips Greater China, mentioned that from the point of view of the needs of the healthcare industry, digital technology can help achieve four major goals: to improve the health of the population; to improve the satisfaction of healthcare workers; to reduce healthcare costs; and to allow the patient experience to be improved.

For the financial industry, Yu Bing mentioned that with the continued development of financial technology, digitalization has become one of the main trends in the financial industry, and new technologies such as big data, artificial intelligence, machine learning, and blockchain have become a brand new force for change in the financial industry.

"Especially after the emergence of the epidemic, more and more financial institutions have begun to increase their investment in technological transformation to maintain market leadership." He mentioned.

The technological transformation of the financial industry includes two levels: one is the exploration of technologies such as big data, cloud computing, artificial intelligence and other technologies themselves; the other is the large-scale use of these technologies under the premise of ensuring compliance and security, both in terms of port services for customers, and the integration of innovation in middle and back-office operations, the establishment of modernized infrastructure and platforms that can be expanded, so that digitization can cover the entire process, the entire sector, and the entire ecosystem, thus promoting the digitalization of banks. The bank's digital business transformation and product innovation will be driven by the use of these technologies on a large scale.