Technology and challenges
We are moving from this current age of digitalization to the next socio-technological transformation, one anchored in nanotechnology, biotechnology, quantum computing, and artificial intelligence.
Health industry
Technology assessment is a multi-disciplinary activity. For evaluation of new health services crisis and health industry environment of the entire globe now. Systematic evaluation of comparative value of medicines and other health related technological system need to be analyzed seriously. With clinical and economic activities and is closely linked to the pricing.
Health economic analysis and health technology are important to have health care decisions but these decisions are based on broader range of factors and considerations which include social, ethical political and other aspects. for example, decision makers may consider research and development incentives industry policy. Decision makers need to focus on budget impacts and cost effectiveness if technologies bring benefit in terms of economics. A comparative assessment also is required to assess about the clinical benefit of technology by comparing with already available traditional technology. Equally important is one needs to decide which perspective decision makers evaluate through the perspective of payers from service seekers. Technologists target for funding. budget holder’s perspective also needs to be considered. Societal perspective is also equally important too. Cost benefits should be visible to all stakeholders and technology can bring this visibility.
There are countries who risk on arbitrary decision-making banking low efficiency, limited accountability of decision maker etc. it is also important to understand learning lessons from failures and must know how to avoid these failures. Excessive or irrelevant information to decision makers faces the risk of pseudo-objectives which may mean models and simulations may look good but as they are built on poor data resulting on unreliable system. The policy goals should be clearly defined. They should be designed taking account into available resources and competency of the institution. The implementation should be driven by good human capital system. The new system driven by technology augmented by human ware should have increasing transparency, efficiency and accountability. All this is possible if there is good hardware and software infrastructure and data storage system in real time basis.
Agile digital leadership
Covid pandemic infection following exponential graph making health industries difficult to cope up with overwhelmed resources. There are cases of integration of highly automated system driven by agile leadership. Teams were failing to deliver value the customers where people were more focused on long term internal planning and individual performances and were busy completing the tasks but seldom achieving the goals. Which led to frustrated employees and unhappy customers.to cope up with covid pandemic the system required fast changing learning organization. In which teams take ownership and have ambitious goals. The agile leader needs to change own behavior for teams to change which requires creating right environment for self-managing teams supported by right resources to strive for better functioning. The team should co-create customer focused goals. The goals had to be sharp, tangible and in aligned with overall strategy of the organization. Only through the collaboration the increasing demand of the customers in the changing market can be met. Giving lot of freedom to the team does not solve the problem. They will be happy for few days with autonomy however they quickly get demotivated. Under such situation highly talented people leave feeling imprisoned. The teams get the ownership if they get right amount of freedom. Fighting their right maturity. Brainstorming teams helped them to face challenges to think critically. The agile leader works as facilitators of the ownerships by the team. because markets are continuously changing and teams needed to create environment for fast learning environment. Using quick feedback system supported by fully functional it infrastructure. Thus, forming self-managing teams by exploring and navigating for customer’s needs clearing road blocks with good supply chain management of necessary resources. by embedding new behavior into the system which also created culture of teams to encourage for customer focus. the culture of the team cannot be changed directly and only through the trust, relationship and sharing experiences which was built on showing the right behavior on daily basis. Consistently focusing on developing health habits on team members.
Competing in the age of Covid pandemic and AI
Chinese farmers have big livestock industry in pig business which now fully automated which generated whole range of products and services. For farmers. Keeping track of feeding habits and implementing insurance systems. When pig becomes big the system puts the pig into right market, they have now an ai driven system which permits the loan processing of the bank within 3 minutes. AI platform are changing the world market at fast track.
Covid has taught many lessons and become massive drivers of digital transformation because many organizations have responded in digital manner. The more we automate better we can respond to virus and future pandemics.
It is important to know what all IT resources our government and private sectors are using along with importance of upgradation which is important for long term sustainability. Technology is systematic application of organized knowledge or practical tasks. Technology reaches people through business. organizations have to cope up with the speed of technological advancements. Expectation of consumers are growing high and system complexity is increasing with heavy engineering thoughts. If organization does not transform the business will shift to competitors.
Leadership is playing important role to ensure that that people are engaged and participating in journey towards digital enterprise . for driving the business for business outcome.
Big data and AI
The big data is transforming our world. This is the number one priority of the business world. For example, social media is contributing to flood of data. The framework consists of data, information, knowledge, understanding and wisdom. Contextualized data distributed in internet becomes useful. Link data is empowering machines. Knowledge is organization of information. We need to have framework to understand data driven decision making process which covers data, information, knowledge, understanding and wisdom. Once we organize some information and identify patterns and trends and make predictions of patterns in data, find visualizations using machine learnings to process all that information we can use our intelligence to interpret knowledge. The final part is wisdom which is utilization of understanding for making better decisions. The system aggregates data, mines and finds patterns for making decisions based on patterns. The system builds models for goal directed adaptive behavior. We have people trolling in internet and doing heinous things. There is more transparency, more public knowledge of data deriving inferences from data.
Big data is the catalyst for AI, society needs to raise critical, moral, ethical and legal questions to ensure that our rights ae kept safe. With great power comes great responsibilities too.
Putting humans’ potentials in the center
Automation normally takes away the works human beings do not want to do. After automation of company employees got extra time in inter personal work in creative work in information synthesis work which is highly corelated with increasing job satisfaction.
We should be political if technologies are political, we can’t afford be political. It means people have to engage with the fact that we are being influenced by the things that are created and if we don’t have power over this decision at the end of the day, we are at mercy of those designing and investing in those systems. Have conversations and ask questions. We have absolute responsibility to engage and empower others.
In the past IT was a support function. The IT organization was peripheral. Now in the competitive environment it moves to the center stage. It is central to business strategy, product differentiation and market performance of the firm. Now it drives innovation in firms and it is therefore transformed to bring a key competitive asset. however large numbers of companies re not yet prepared for this transformation. It managers and leaders have critical role to play in digital transformation of the organization. Business technology management specialization will be more in demand requiring it managers who can examine technology through business lenses. Digital transformation is not easy requiring fundamental changes in structures, processes and culture in organization. Leading through uncertainty and change.
Programs on leadership and emotional intelligence will be on demand. there will be more requirements for working in teams, building cooperative relationships with key stakeholders requiring exercises on effective influences handling difficult conversations, creating energy and enthusiasms to foster meaningful changes.
Technology should not aim to replace the humans, rather amplify human capabilities. World economic forum is ranking creativity at the center. Neuroscience tell us that brains of creative and non-creative people are physically built the same way but the highly creative person has developed a lot more connections through all different areas of brains, not only do they have connections, these connections are also stronger and more powerful. . our brains are built for creativity and we are wired to be creative but only if we practice our creativity and become creatively strong.
We need creative mind set in 4th industrial revolution. Now machines can do all the routine repetitive work, We can play out our truly human quality. Those who will flourish in 4th industrial revolution, they will be flashing their mental muscles, will be solving problems, they will be expanding the horizon of economy, business, government, education etc. we will not be defeated by army of robots.