When walls become doors
Lesson 7 – AI, the cloud and big data have the potential to redefine boundaries in many ways. An open-source mindset takes hold. Organisations that once competed become partners. APIs turn one company’s data by-products into another’s business gold. Companies in formerly unrelated industries unite to create entirely new endeavors.
Competition isn’t going away. But it also shouldn’t get in the way. Why settle for the zero-sum game when you can go for a win-win instead? As with most dimensions of digital transformation, it’s as much about the mindset as the technology. The idea of defending corporate borders at all costs is giving way to openness, transparency and cooperation.
“All for one, and One for All” used to be the old way of doing things within a corporate company. Rather companies are combining resources, and growing in the digital community to further unite and collaborate using the companies Data.
Key things to remember are:
1. Start from the customer
Looking inward for too long means missed opportunities. Look outward, towards customers. They are the nexus of value. Could you serve them better through a partnership? Do they have needs that nobody is serving well? Do you have insights about them someone else could use?
2. Get outside your comfort zone
It’s easy to get to know others in your industry. Connecting with leaders in other verticals – even those far from your core discipline – helps you find unique opportunities first.
3. Share and share alike
To get something of value, give something of value. It can be data, services or customer connections – anything that shows you are serious about collaborating to mutual benefit.