The Corona pandemic has accelerated the need to have a ‘bold’ re-look of transforming corporates digitally by absorbing trending arenas such as machine learning, big data and robotics said Co-founder of Artificial Intelligence Academy (AIA), Lin Gong-Deutschmann.
She was speaking at the annual CXO Forum of Chartered Institute of Management Accountants (CIMA) in Sri Lanka, held as a virtual event. This forum was built on the theme of ‘Visionaries: Building sustainable business for Sri Lanka’s future’, focusing on laying the cornerstone for resilient businesses, thriving on the strong grip of Big Data, Green Economy and managing investor climate.
She explained that having a clear digital transformation agenda in the overall corporate agenda coupled with wholistic approach encompassing adequate/right resourcing and building the employees’ digital capabilities play a pivotal role in success.
Speaking Gong-Deutschmann spoke extensively on the key role played by digital transformation in building future proof organizations. “Two thirds of transformation exercises fail though senior business leaders feel digital transformation is a key imperative”.
The well-rounded panel was composed of Gong-Deutschmann - Co-founder of Artificial Intelligence Academy (AIA), Prakash Iyer– Motivational Speaker and Leadership Coach (Former MD Best-selling Author Kimberly Clark Lever), Dileep Mudadeniya– Headof Brand Marketing of Cinnamon Hotels and Resorts (CEO and Vice President of John Keells Group’s Cinnamon Life Mall), Chanakya Dissanayake FCMA, CGMA – SeniorDirector/Country Head for Sri Lanka and Global Head of Investment Research Acuity Knowledge Partners.
Despite the immediate significant impact experienced by Sri Lanka’s major service offering i.e. tourism sector, Mudadeniya spoke positively on the recovery prospects highlighting several measures on re-imagining Sri Lankan tourism through (1) Reconsidering source markets (2) Building strong support systems (3) Drafting a detailed re-launch plan and (4) Reviving tourism demand.
To realize the latter, Dileep suggested tightening the focus on wellness and luxury travel markets.
Dissanayake shared live examples of how Acuity Knowledge Partners executed resilient business continuity despite the pandemic impact.
While acknowledging that continuous capital injections in the western hemisphere has kept the capital market momentum up and running, he highlighted how the digital investments made in yesteryear’s have now become handy in business continuity attempts.
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