Is your digital transformation strategy a digital check or digital wallet? | Artificial Intelligence - TechHQ

Companies must “build for the future rather than modifying from the past,” said marketing expert Tom Goodwin at eCommerce Expo.

Digital wallets have the potential to transform payments.
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Look at how the world at large has transitioned into a digital age, and it becomes apparent that much of what we might consider digital transformation is just taking something we’ve done before and making it a bit more modern. 

The ‘digital check’, for example, is in its principal concept, not much different from traditional paper checks. Apart from the fact that it can be filled out on a keyboard and exchanged online, it is a digital interpretation of a centuries-old way of doing things — while we can hardly call that ‘transformative’. 

This was just one analogy presented by Tom Goodwin, EVP Head of Innovation at Zenith and a global marketing industry influencer at eCommerce Expo in the UK capital last week...

The point is— whether it’s online coupons which customers print themselves; iPads added to classrooms which haven’t changed fundamentally since the 19th century; e-commerce websites which present products in a catalog; items that have never been on shop shelves shipped in branded packaging; TV ads being used on YouTube— few companies have fundamentally changed their approach, despite consumers’ buying habits changing dramatically. 

“My definition of digital transformation is very much rooted in this idea of rethinking technology— it is rooted in understanding what it will mean, and how it comes together,” said Goodwin.  
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Source: TechHQ