I recently had the chance to interview Adam Davidson, co-founder of NPR’s “Planet Money,” when he was in town for the Greater Des Moines Partnership’s Small Business Success Summit. Davidson and I chatted about his new book, “The Passion Economy: The New Rules for Thriving in the Twenty-First Century,” which touched on digital transformation in the workplace. 

Asked about ChatGPT, Davidson remarked that this new AI tool struck him as being like an “overeager intern,” saying the output was decent as long as you supervised and refined the work product all through the process. That got some good laughs. All jokes aside, digital transformation is a serious subject for leaders today. 

Learning to leverage technology is one of the biggest challenges organizations face, and simultaneously one of the largest opportunities. To compete in an increasingly digital world, businesses need to invest in technology and automation. Yet, after several years of navigating rapid changes of all types, how many leaders have truly progressed in digital maturity? New research from Formstack on the state of digital maturity indicates that just 4% of businesses have “reached the ideal of a fully automated and digitized workplace.” Most businesses still face inefficiencies, with 51% of workers “spending at least two hours per day on repetitive tasks,” which represents more than $1.3 million yearly in revenue losses. 

I can relate to the digital transformation journey. At BPC, we recently launched a new Business Record website, are adding digital products, and are investing in various technologies to enhance our customer experience and streamline our operations. These changes are exciting and daunting all at the same time. Revamping one’s organization takes time, money and energy, and can be disruptive even as the technology promises positive change when complete. 

McKinsey & Co.’s recent CEO Excellence Survey took the pulse of leading CEOs’ priorities and actions, and not surprisingly, digital disruption was one of the top trends respondents believe will have the biggest impact on their businesses. That article suggests that the mindset CEOs and their leadership teams need to approach digital transformation is that of a chief technology architect. “Think of the executive team — not just the chief digital officer — as owning the technology strategy of the company,” said one CEO. “There is too much at stake.”

How can you and your team start being the chief technology architects of your own organization? How can you as a leader evolve your digital capabilities to achieve your bottom-line goals and enhance your brand or client experience — all while continuing to operate your business on a day-to-day basis? CEOs in the McKinsey & Co. survey cited three ways that digital transformation is being put into practice, which offer focus to leaders starting on their own journey:

Develop advanced analytics: The introduction of ChatGPT sparked entertaining conversations, but shined a spotlight on the need for companies to look at advanced analytics and predictive analytics. These technologies can personalize and target clients or streamline processes to create a better client experience. Are there areas where your organization could benefit from this type of analytics?

Enhance cybersecurity: Cyber threats and breaches are escalating at an alarming rate. Investing in infrastructure, embedding cybersecurity controls and training employees to be ever vigilant will be critical for leaders to protect their business and client information. Are you taking cybersecurity and related technology seriously enough?

Automate work: Some work should be done manually, but there are certain jobs, roles or tasks that can be more efficiently, effectively or safely done through automation. Exploring and investing in technology to streamline your organization will not necessarily replace jobs with robots, but it may enhance jobs or output. My small hometown grocery store recently installed self-checkout stations, which sped up the process at peak times, and customers were happy with the option. 

These three areas of focus represent significant possible investment and change. Presenting them in a simple list does not do justice to the magnitude of potential transformation, but it does give leaders a way to frame the journey. 

While we may be busy and sometimes hesitant to change, we as leaders must be open to exploring new ways of working and mindful of the need to move quickly in the use of technology. After all, the digital transformation around us is not showing any signs of slowing down. 

(And just for the record, I wrote this article without the help of ChatGPT, but I did leverage Asana, Google Docs, and our first-rate copy editor — the perfect combination of technology and human talent.)