‘Digital’ – A Magnet for Nonsense!
‘Digital’ was and still is a popular term in the business world. In recent years a lot of papers, presentations and communities of interest have appeared on this topic. Unfortunately, the majority of them seem to create a lot of content, but little meaning. Put simply, a laymen could read a typical brochure on ‘AI’ or ‘Blockchain’ and still have no clue what the physical product or service is and how it differs from more traditional techology.
Back in 2000, I first started my career in information technology, not long after joining we were re-branded as ‘information & decision solutions’. I think the majority of people in information technology will be familiar with the constant re-branding of teams and functions.
This is the case with ‘digital’
Digital technology is a hodge podge of technologies which are new / popular / highly saleable. I tried to figure out what the common theme is with technologies that get accepted into the ‘digital’ podium, but there doesn’t appear to be one.
In this post, I’d like to have a plain english, no-nonsense discussion of digital (or more simply new & popular) technologies.
I’ll start by taking a look at what major companies are saying about digital, then I’ll look at structuring it into a simple taxonomy to promote a clearer understanding. I’ll then take a look at key areas of digital one by one. Finally I’d like to talk about the approach taken to develop a digital strategy.
Before getting into the detail I would like to give some advice to anyone thinking about investing in digital products or services:
- Take a ‘doubtful’ stance, don’t get caught up in the hype;
- If someone can’t explain a technology; how it works and why it’s useful, in a few sentances to a laymen, do not listen to them;
- Be careful of conflicts of interests when dealing with suppliers and partners, I’ll talk a little more about this next.