Enterprises need to put digital at top of 2018 agenda

AS Singapore prepares to enter 2018, one common theme that will spill over to the new year is the increasing pace of technological change, and its far-reaching effect on the enterprise landscape in Singapore.

Even as companies come to grips with disruption caused by cloud computing, social media, mobility and big data, new lexicon is being added to an already long list of technologies that are changing our lives: artificial intelligence (AI), IoT (Internet of Things) networks, machine learning, Industry 4.0 and co-creation.

At a fundamental level, this heady mix is affecting the way that we live, work and play. Entire industries are getting wiped out while new ones are springing up, based on improved customer service. Enterprises understand the need to be nimble in order to face unexpected challenges to their traditional business models. The new year will see a new sense of urgency to accelerate change through what is known as digital transformation - sweeping changes in business and organisational activities, processes, competencies and models to fully leverage digital technologies. In 2018 and beyond, market leaders will be defined not just by how much technology they use, but also how efficiently they use the technology.