The world is entering the Fourth Industrial Revolution, a technological revolution that is changing the way people live, work, and relate to each other. The technologies at the heart of the Fourth Industrial Revolution are connected in many ways. They include artificial intelligence, robotics, energy technologies, additive manufacturing, virtual reality, and the list goes on. Collectively, these technologies are speeding up the pace of change.
The adage “what got you here won’t get you there” has never been truer. Business and technology leaders must embrace new ways of thinking and working to survive. The average tenure of an S&P 500 company is now under twenty years, down from sixty years in the 1950s. Even more alarming, since 2000, over half of the Fortune 500 have dropped off the list. Many companies seem to be standing still, even as the world around them is speeding up.
Thrive in the Fourth Industrial Revolution with SingleStone
Our cross-industry experience has revealed striking similarities amongst organizations that are accelerating with the pace of change. We have distilled these similarities to five essential characteristics: Empowered, Frictionless, Experimental, Insightful, and Creative. Organizations that are focused on championing each of these characteristics are flourishing amidst all the change.
Our definitions for each of these five characteristics are below, along with links to individual blog posts that dive deeper.
- Insightful: Data is at the core of how an organization operates and makes decisions; it’s a fundamental source of insights and differentiation. Data is viewed as an asset and is expected to have a return on investment.
- Empowered: An empowered team is self-directed, guided by transparent leadership, and an obsession with the customer. The team is always learning because change is constant.
- Frictionless: A frictionless environment has automation and tools that allow people to do what they do best – not toil through manual solutions and bureaucracy. Reducing toil cultivates the soil of innovation.
- Creative: Creativity is practiced by every member of the team – not just designers. Diversity of thought is celebrated and drives innovation.
- Experimental: Experimental cultures are not afraid to fail – they seek insights through a test and learn approach rooted in data and discovery. The bias for action is strong.
These are the defining attributes of organizations that are not just surviving but thriving in the Fourth Industrial Revolution. Our clients push the speed of change forward, raising the bar for everyone. At SingleStone, we live and breathe these five characteristics as a team. We have positioned our multidisciplinary expertise to grow each characteristic, and more importantly, connect them.
The result? Any solution we deliver to our clients will have long-lasting impacts that promote growth, innovation, and agility at scale for years to come.