Leading AI-Driven Change: A Framework for Successful Digital Transformation in Enterprises

Abstract

Business enterprises are increasingly transforming their traditional business models into technology enabled digitalized business models to gain sustainability in the competitive market. The necessity of embarking on digital transformation has already been felt by business enterprises in order to sustain themselves in the world of business. However, some particular capabilities are required at micro-foundation level for exploiting this paradigm shift successfully towards digital transformation. In the journey of digital transformation, some particular digital skills and competencies are essential to achieve success at micro-foundational level. In the age of Artificial Intelligence, business enterprises would have to evolve and innovate products and services. In this new era, business firms should learn innovation and digitalization of the core of their business by adopting AI as it is the center of journey of digital transformation. Rapidly advancing digital technologies like artificial intelligence, smart technologies, automation, cloud computing, robotics, and Internet of Things (IoT) are changing the nature of work fundamentally and have increased the concern regarding future of jobs and organizations. In order to keep pace with the rapid disruption, business firms must keep updating and transforming the models of their business in order to remain competitive. Meanwhile, the growing advance technologies are changing the skill type and capabilities required at the workplace and demand the shift in the individual mindset.