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Digitalize or die

It is a wellknown fact that the capability of IT is doubling in relation to its cost every year. It seems to be less wellknown what it means when something huge is doubling and doubling and.. (Ray Kurzweiler knows) for enterprises, the public sector and national economies.

For European enterprises - struggling with both cost and service capability in face of the Asian (cost) and American (capability) onslaught radical change should be on the agenda every day. Change means radically more digital elements in products, services, sales, marketing and administration.

The same goes for public sector services - cutting own and especially SME administrative in cost in half is dependent on a very determined attitude there. No rocket science is needed in this area. Instead concrete daily deeds (eg the next enterprise declaring a deadline for paper and PDF invoices) and an urge for speed - which are too often missing. 

The additional argument for Europe is, that a true Single Market cannot be created without digitalization-  as it enables faster harmonization. So digitalization should be seen as the opportunity also for creating the largest market in the world.

 

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Bo Harald

Bo Harald

Chairman/Founding member, board member

Transmeri, Demos, Real Time Economy Program,MyData

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04 Nov 2008

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Helsinki Region

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.


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