Building your digital literacy..

Each day we read about a new start-up, challenging traditional ways of conducting business and interacting with customers. Most conferences that you will attend will have had a strong underlying theme of advancement in technology, how things will change and what the future may hold.

In organisations, how to reposition to embrace new technology, is a common conversation at the boardroom and executive table. For most, if not all, in particular more traditional style businesses, these advancements will be flagged as a significant risk on the company risk register.

The underlying theme of the majority of my posts, is ensuring you have a depth of understanding. The more knowledge you have on a topic, the stronger your ability to lead, influence, be strategic and run a business. Given the importance of technology in our current and future world, it is even more relevant. The world of technology and how things actually work, can be a bit of mystery unless you are really immersed in the area. The technology team even speak, what feels like, a foreign language. Who has not sat in a presentation where you have become lost after the first 5 minutes!.

Knowledge is power and this is one area you must at least have the fundamentals of how things work and the common language used.

As with any technical or specialist area, my first recommendation is to always go and spend some time with the team. Find someone who is willing to be your tech buddy, getting into the nuts and bolts of the organisations technology systems and how it all hangs together. Tech people tend to very passionate about their world, so I am sure you will have no trouble finding someone willing to talk you through it. Just keep asking the “why” questions until you are satisfied you understand the fundamentals of how this critical business engine room works.

I have captured a number of reasonably common technology terms, which I am sure you will have read about in an article or heard about in a presentation.

This is certainly not a finite list, however it does cover a number of keys areas, you really should have, at least a basic knowledge of. It can be all quite interesting, once you start your research.

• Core system

• IT Stack

• Back office / Middle office

• API

• Search engine optimisation (SEO)

• Blockchain

• Machine Learning

• Digital architect

• Data Scientist

• Cloud/ Distributed cloud

• RPA / Robotics

• Artificial Intelligence

• Hyper-automation

• Internet of things (IoT)

• Virtual reality

• Augmented reality

• Wearables

• AI Security / cyber attacks

The internet will provide a large amount of information on all of this, however if your preference is to understand more than just the definition, McKinsey, Deloitte, Gartner, Accenture and the world economic forum, are all good sources of information.

Once you have developed a deeper understanding of technology and what the future holds, understand how your business is responding. How does it inform your organisational strategy? What does it mean for your industry and importantly, what opportunities may this create for you?

Be informed so that you can have those intellectual, interesting conversations with business and industry colleagues. Be part of shaping what the future may hold.

Until next time Lisa