D Justhy

Enterprise Moonshot Challenges: Here’s Two Things To Begin With

Google apparently defined a “moonshot” as a project or a proposal that:

1. Addresses a huge problem
2. Proposes a radical solution
3. Uses breakthrough technology

It’s similar to those BHAGs many of us would be familiar with.

If you are a leader who is responsible for pulling off your enterprise “moonshot” challenge, where do you start? 

What can you rely on?

How do you keep your teams and investors enthused and motivated, knowing that the journey is not going to be easy?

There’s no argument about emerging technologies bringing in tremendous opportunities, for enterprises. In fact, accelerating progress in AI and automation is creating opportunities for business, the economy, and society. 

According to McKinsey Global Institute’s research, Artificial Intelligence has the potential to create value across sectors. Interestingly, the impact of AI could be the highest for the Retail sector, in billions of dollar terms. However, the share of AI impact in total impact derived from analytics is between 40 to 50 percent.

That is to say, data and analytics capabilities of an enterprise has a direct bearing on its ability to unlock AI’s true and full potential.

This is both encouraging as well as discouraging, depending on the kind of leader you are.

Encouraging, if you are a creating outcomes, even with “half-chances”. And discouraging, if you are waiting for outcomes to be “handed over to you in a silver platter” by a technology or a vendor from outside.

Assuming that you are the former, who starts from “within”, taking full accountability of the outcomes to be created, there are two things you will need to start with.

Starting today, here and now!

The first is you, and your people. Your enterprise data is next.

Having witnessed, the digital transformation programs worth billions of dollars in investment, I cannot emphasis enough the criticality of your existing people. Your people – make or break your digital transformation journey – period!

They make it easy or difficult. They make the high value returns or they sink the costs into the large ocean of failed pursuits.

Data on the other hand, is something which you can no longer ignore. Time and again, enterprises lack a clear strategy that suits them. It’s one thing for a big five firm to give you a strategy and it is quite another for your enterprise to create your own data strategy, that’s right for you. 

What matters most is “what’s in your home”. And this includes your people and your data.

Start with these two and I promise that you won’t go wrong with your digital transformation endeavour.

The Billion Dollar Byte, will help you think this through.