The Role of the CIO in Digital Transformation - Live blogging #CIOChat

My notes from Stephanie Woerner of MIT CISR at today's #CIOChatLive forum at Boston College talking about what is digital transformation, paths to get there, and the role of the CIO. It was a great talk with many examples and worth reviewing the actual research.

1. Digital transformation is not about technology - it's about organizational change.

2. What does it mean to be a digitally transformed company? - A future ready company is (1) innovative AND low cost, (2) Great at customer experience, (3) modular and agile, (4) data is a strategic asset and (5) Ecosystem ready

3. The "digitization desert" - transforming operational efficiencies, becoming more modular/agile, but delaying customer experience investments.

4. The "dopamine pathway" digitally disrupted businesses dive right into customer experience, mobile applications, but at a potential sacrifice to their platform.

5. A hard pathway is to do staircase improvements in both op efficiency and customer experience. It can take a longer pathway. Requires significant organizational change managment.

6. Pathway #4 is starting 'new co' as a separate biz/org/cx model from the core business.

7. Large enterprises will pick multiple paths depending on business, product, customer, and org.

8. Financial benefits start only 50% of the way in.

9. 24% higher profitability if (a) Strategic CIO is working with the Board and CXOs (b) Build digital disciplines across the enterprise (c) Pursue op efficiencies, (d) Drive customer engagement

10 MIT CISR provides access to its research to registered users 90 days after publishing.