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Success personified in the Fourth Industrial Revolution by Deloitte Insights

Deloitte study:

DI_Success-personified-fourth-industrial-revolution

about leaders and their coping with Industry 4.0 showed that some leaders are making better progress that others in dealing with today’s challenges within the four major areas of impact:

  • society
  • strategy
  • technology
  • talent

Leaders that do excel in this areas are called:

  • Social Supers
  • Data-Driven Decisives
  • Disruption Drivers
  • Talent Champions

Faced with an ever-increasing array of the new technologies, leaders said they feel as though they have too many options from which to choose and, in some cases, they lack strategic vision to help guide their efforts. They also wrestle with how should Industry 4.0 technologies should be regulated. The breadth of skills gap is more and more evident to leaders and it is clear, that the current education system will be inadequate to meet the challenge. On other hand optimism, that technology will help people, not replace them, is higher then before.

Social impact: Leaders (46%) see social activities as top priorities and as the most important measure of success and they see the also as potential for new revenue streams. Leaders that can qualify as Social Supers are more likely to use technologies to create disruptions and their decision-making process is more holistic and defined. They consider social initiatives as fundamental to their business models.

Strategy: Leaders still have challenge how to translate possible into tangible business strategies. Very few of them see that their organisations use data-driven insights when making decisions. Data-driven Decisivies follow discipline approach in setting their strategies, using data to support decisions and by doing so, they show much more confidence than other leaders. They also are more likely to use technologies and have stronger performance.

Technology: Leaders still see their organisation as entities that are willing to trade their future for today, they lack understanding of Industry 4.0 technologies, lack business case and lack leadership vision on usage of those technologies. The believe in market force regulation not government, but in reality Industry 4.0 ethics is not being consider as it should be, not yet. The Disruption Drivers invest into technology, use it for more data-driven processes, using more holistic-driven approach to decision making and they get input from diverse sets of stakeholders.

Talent: Leaders believe that for Industry 4.0 you need a blend of talent. Those who can dream a product, those who can build the product and those who can execute product delivery. Facing challenges from technological development, more CXO decide to look for more technical skills instead of social and critical thinking. But workforce of future, millennial suggested that the top four skills employers need to ensure long-term success were interpersonal skills, confidence/motivation, ethics/integrity and critical thinking. Leaders will need to deal with this gap and prepare to attain and retain workforce of future in order to utilise Industry 4.0 benefits. Talent Champions are ready to prepare workforce of future, they are aggressive in preparing workforce for new challenges, using proactive approach.

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