INTERVIEW BEATRIZE SANZ SAIZ
Embrace digital technologies
Beatrize Sanz Saiz, EY’s Global Consulting Data & Analytics Leader, talks to Neil Tyler
about how companies should look to embrace new technology
According to Ernst & Young’s, ‘Tech Horizon: Leadership
perspectives on technology and transformation’ report,
which takes a look at new technologies and how they are
helping to accelerate business digital transformation,
companies leading the field in embracing digital technologies are,
putting it simply, able to make more money than their competitors.
The report looks at the key drivers of digital transformation
and highlights six key ‘habits’ exhibited by digital transformation
leaders, and suggests that industry laggards could learn from these
transformational leaders.
According to Beatriz Sanz Saiz, EY’s Global Consulting Data &
Analytics Leader, the report shows that, “We have reached a point
of no return when it comes to digital transformation. The process
has been accelerated by the global pandemic and the debate is no
longer about investing in new technology but rather how to embed and
integrate technology at the core of your business.
“There are plenty of companies, across different sectors, that
are well advanced along this ‘transformation journey’, and, as a
consequence, are generating significant additional value.”
Saiz says that the six core ‘habits’ that are critical when it comes
to transforming a business through the use of technology include:
“Focusing on customers, first and foremost; accelerating investment
in artificial intelligence (AI) to drive growth; driving innovation
through embracing ecosystems and partnerships; nurturing talent;
accelerating governance plans for emerging technology and, finally,
powering innovation by leveraging data and being agile.”
According to Saiz, while adopting these habits is critical, it doesn’t
guarantee financial success, although, “AI has a crucial role in
driving growth and revenues and enabling new and different customer
experiences.”
She points to Tesla as an example of a company that has
embraced technology and applied AI to deliver a better customer
experience.
“It embedded AI at the core of its business, transforming not
only its back office but the entire supply chain. Critically, it became,
as a result of that investment, more nimble and able to implement
changes quicker.”
Debunking some myths
Saiz says that when it comes to investing in AI there are certain
‘myths’ that have surrounded its application.
“When I talk about ‘myths’ I refer to ideas such as AI should
always be implemented away from business units. In reality, the
ultimate value of AI can only be realised when it is placed at the very
heart of the business.
“Another is that AI and the IoT should be considered separately.
That is certainly not the case. Companies that are capturing the
benefits of AI have coupled that capability with the IoT in order to
extract greater value.
“And finally, when it comes to data, there’s an argument around
quantity rather than quality being the goal. Another myth, because
only well managed and reliable data will drive more impactful
insights,” Saiz argues.
Saiz accepts that it will be very expensive for those laggard
companies to catch up with those that have embraced AI and other
technologies already.
“While it will certainly be more expensive for followers, it will be
even more costly if they don’t invest in technology,” she argues.
“Transformation is critical when technology is constantly undermining
traditional business models.”
According to Saiz, the market is seeing increased merger and
acquisition (M&A) activity across all sectors, as companies use
it as a means to catch up with sector leaders and acquire the
technologies they need in order to compete.
“This trend is being driven by companies looking to catch up or
by those looking to become a leading player in their space,” she
believes. “We are seeing a lot of activity among companies trying to
better understand how to embrace emerging technologies.”
In terms of sectors, Saiz suggests that all of them are embracing
technology.
“We don’t see any sector where AI does not apply but there are
some benefitting more than others,” she concedes.
“Sectors that have to handle large data volumes, for example,
banking and insurance, and manufacturing, with the rise of the IoT
and Industry 4.0, are investing heavily in technology and AI.”
Covid-19 has certainly played a part in accelerating existing
trends.
“Health is based on data and the impact of the pandemic has
driven increased levels of investment. We are seeing a more active
role for technology and AI, in particular. Covid has accelerated plans
and we can expect to see huge investments in AI and emerging
technologies by health providers over the next 3-5 years.”
14 9 February 2021 www.newelectronics.co.uk
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