The Age of Digital Acceleration
A paradise for innovators
We are living in an era that could be considered a paradise for innovators. As every aspect of our lives becomes increasingly digitized, innovation is happening at a pace never seen before. Innovators today not only have superior digital tools, processes, and practices at their disposal, but they also have an audience ready to embrace new advancements. While digital transformation has played its part, digital acceleration is now essential to seize the moment.
Consumer-led acceleration
Consumers are no strangers to digital innovation. Since the advent of the smartphone, companies have continuously reinvented how users interact with their products and services, setting a high bar for digital experiences. A whole generation has grown up with these advancements, knowing nothing else.
These individuals are now decision-makers in businesses worldwide, expecting the same high standards in their work environments. For them, digital transformation is a given; they have always lived in a digital-first world.
Talking to these digital natives about digital transformation is akin to explaining water to a fish.
What they care about is further acceleration of the digital landscape.
Accepting reality
Digital acceleration is about acknowledging the rapid changes in our world. The pandemic forced businesses to adapt quickly, leaving no room for lengthy decision-making processes. As Microsoft CEO Satya Nadella noted, “we’ve seen two years’ worth of digital transformation in two months.”
With the pandemic’s peak behind us, some businesses might be tempted to revert to familiar decision-making processes. However, user behavior has not reverted; if anything, the digital-first mindset has strengthened. Speed is crucial.
A step-by-step transformation approach is now obsolete. Businesses must keep pace with user expectations, respond to changes, and ideally, drive them.
Speed is crucial.
The essence of speed
The primary difference between digital transformation and digital acceleration is speed. Delivering a product in months or weeks instead of years is now the norm. Going faster means starting tomorrow.
This shift requires a change in mindset—from thinking about transformation to focusing on acceleration. Digital transformation involved adding incremental digital features to existing businesses or products to meet the needs of digital natives. Digital acceleration, however, involves creating something entirely new and doing it swiftly. If you don’t, your competitors certainly will.
Strategies for speed
To accelerate effectively, consider starting small while thinking big. Avoid getting bogged down by decision-making, staff costs, or potential financial hits. Instead, innovate quickly with small projects. Valuable proofs of concept can be delivered within 30 to 60 days.
Examine the software, applications, and devices that younger consumers use for both work and leisure. The popularity of apps like TikTok and WhatsApp demonstrates how quickly market fads can become significant disruptors.
Ensure you have top talent—developers, DevOps, project teams, and product experts who understand and can deliver beautiful software. It’s crucial to have a team that knows the difference between digital transformation and acceleration. You need a diverse range of skills to create and launch products quickly, along with designers who can build compelling mock-ups and concepts to assure customers of your direction.
Don’t be afraid to take risks. Management teams often err on the side of caution, but today’s fast-paced business environment demands bold decisions. The speed of decision-making can make or break your business.
Adapting and moving forward
Being fast means being ready to adapt. The market can shift, or user feedback may present new challenges. Remember, you are building products for the market and your customers, not for yourself.
Anticipate market needs by investing in market research and hiring strategists and digital acceleration specialists.
Before you commit to the future, you need to understand what it will look like.
Additionally, embrace failure. Moving quickly and anticipating market needs often means failing fast. Be ruthless in stopping initiatives that aren’t working and pivot swiftly. Speed is critical to successful digital acceleration.
Conclusion: Embrace the urgency
The era of digital transformation has passed. Companies are either already transformed or born digital. We are now in the age of digital acceleration.
The opportunity for innovators is immense. People are more open to experimentation than ever before. The time to accelerate is now. It’s better to start prototyping and testing your ideas—no matter how rough—than to waste time on protracted evaluations. The future belongs to those who can move quickly and decisively.
