The CFO prepared for digital transformation
Posted: Thu Jan 23, 2025 3:52 am
This is a much-discussed topic, whether at technology, business, financial management, or people management conferences, or in everyday business life, at happy hour, or even with the kids at home. But after all, to what extent is digital transformation really affecting our lives?
As the American futurist Alvin Toffer wrote: “The illiterate of the 21st century will not be those who cannot read or write, but those who cannot learn, unlearn and relearn.”
I confess that, even working in the area of nepal phone number list and technology, we spend a lot of time scared by new things. We look for innovations day after day, but with each new word, each new alphabet soup (AI, IoT, wearables , insidebles , ML, VA, blockchain , fintechs , analytics , neural networks, chatbots ), each new applicable concept, not to mention the millennial generation , which is already here, I see that our challenge only increases.
Sometimes I see myself in that comedy scene where we have two people running from a hungry beast, which will certainly catch up to them, and the only logical option to escape would be to outrun the little friend next to them...
Looking at facts and data, it becomes clear that the speed of transformation (of the beast that chases us) is great, and the impact is already strong in most industries (business segments) and one function plays a fundamental role in this process, which is the CFO ( Chief Financial Officer ).
According to Ernst & Young, in 2005 we had 500 million devices connected to the internet, in 2015, 8 billion, in 2020 we will have 50 billion, in 2030 the forecast is 1 trillion devices (when we talk about devices, consider IoTs and other connected devices). That's right!
Let us also imagine that today TESLA is already able to predict a car accident involving self-driving cars in fractions of seconds, that the EHANG, which is a self-driving helicopter, is already undergoing final tests, that the HYPERLOOP trains are undergoing tests in the United Arab Emirates, they float at 1300 km/h (New York to Washington in 29 minutes) and should debut in 2020.
But let’s get back to planet Earth… well, let’s go back two years to the present day. What can your company’s CFO use now, in 2018 or in the short-term planning?
Artificial Intelligence (AI) can already be used, whether by leveraging existing algorithms, such as devices that are already ready, or in technologies used to make better use of data that are already available. Some examples are Google in its platforms, which already use intelligent technologies (even in a simple email with intelligence to save time); IBM, with Watson, is entering the Brazilian market and learning more and more from our natural language; Amazon with strong investments in Machine Learning (ML); Microsoft with open platforms and convergence technologies for Artificial Intelligence.
As the American futurist Alvin Toffer wrote: “The illiterate of the 21st century will not be those who cannot read or write, but those who cannot learn, unlearn and relearn.”
I confess that, even working in the area of nepal phone number list and technology, we spend a lot of time scared by new things. We look for innovations day after day, but with each new word, each new alphabet soup (AI, IoT, wearables , insidebles , ML, VA, blockchain , fintechs , analytics , neural networks, chatbots ), each new applicable concept, not to mention the millennial generation , which is already here, I see that our challenge only increases.
Sometimes I see myself in that comedy scene where we have two people running from a hungry beast, which will certainly catch up to them, and the only logical option to escape would be to outrun the little friend next to them...
Looking at facts and data, it becomes clear that the speed of transformation (of the beast that chases us) is great, and the impact is already strong in most industries (business segments) and one function plays a fundamental role in this process, which is the CFO ( Chief Financial Officer ).
According to Ernst & Young, in 2005 we had 500 million devices connected to the internet, in 2015, 8 billion, in 2020 we will have 50 billion, in 2030 the forecast is 1 trillion devices (when we talk about devices, consider IoTs and other connected devices). That's right!
Let us also imagine that today TESLA is already able to predict a car accident involving self-driving cars in fractions of seconds, that the EHANG, which is a self-driving helicopter, is already undergoing final tests, that the HYPERLOOP trains are undergoing tests in the United Arab Emirates, they float at 1300 km/h (New York to Washington in 29 minutes) and should debut in 2020.
But let’s get back to planet Earth… well, let’s go back two years to the present day. What can your company’s CFO use now, in 2018 or in the short-term planning?
Artificial Intelligence (AI) can already be used, whether by leveraging existing algorithms, such as devices that are already ready, or in technologies used to make better use of data that are already available. Some examples are Google in its platforms, which already use intelligent technologies (even in a simple email with intelligence to save time); IBM, with Watson, is entering the Brazilian market and learning more and more from our natural language; Amazon with strong investments in Machine Learning (ML); Microsoft with open platforms and convergence technologies for Artificial Intelligence.