Digital to the Rescue

[Sponsored Article]

By Associate Professor KOH Tat Koon,
Department of Information Systems, Business Statistics and Operations Management

In recent years, many organizations have undertaken digital transformations such as creating online customer touchpoints, leveraging digital platforms, and applying the Internet of Things (IoT) and Artificial Intelligence (AI) in value chain activities. Digitalization can help SMEs, large corporations, and public agencies become more accessible, agile, and competitive in the increasingly dynamic environments that they operate in. 

But we have noticed that, despite digitalizing, not all organizations have been able to respond effectively to the new situation that has resulted from the COVID-19 pandemic. Therefore, we need to ask what digital transformations can help organizations during this abnormal time. Insights garnered from this question can contribute to an organization’s long-term competitiveness as well as its short-term, immediate performance and survival. 

While it is difficult to meaningfully compare digital transformation initiatives across different organizations in the context of COVID-19, we can gain general takeaways by examining the three broad mindsets which underlie many digitalization efforts: Digital Sub, Digital First, and Digital Only.

“Inaction could prove to be a riskier strategy whereas digitalizing could improve organizational survival during COVID-19 and after it.”

Digital Sub