Whether it’s because of regulation, a conservative outlook, or simply because they don’t see the benefit, some industries have been incredibly slow to embrace the digital age.
However, even in the industries where it’s not widely adopted, making significant investments in digital technology and integrating it into an organisation has a significant positive impact on the bottom line. A report from Capgemini Consulting and MIT’s centre for Digital Business estimates that ‘digital beginners,’ those companies who have barely touched digital technology, are 24 per cent less profitable than average.
The research divides companies into four categories based on digital adoption:
“‘Beginners’ have barely started, usually because they’re unaware of the opportunities, ‘Fashionistas’ adopt the newest or sexiest digital innovations, but without a cohesive strategy or eye to maximizing business value, ‘Digital Conservatives’ have a cohesive vision, but are slow to invest in new technology, and finally, the ‘Digirati,’ who both invest in digital and integrate it with their whole organisation.”
Here’s where major industries fit on the spectrum of going digital, from high technology at the top, to the pharmaceutical industry way at the bottom:
Photo: Capgemeni Consulting
Read the full report here
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