Expert Focus: Who will thrive or merely survive in the digital future?
‘It starts with senior leadership understanding what tech solutions do… They exist not to replace people but to complement existing human capital, with the goal of becoming faster. Senior leaders must understand digitalisation and bring that understanding throughout the whole organisation. It will help to make informed decisions much quicker’
In this Expert Focus video, produced as part of Lloyd’s List’s Future of Shipping programme, OrbitMI chief executive officer Ali Riaz explains how the future of shipping is digital and why leadership is critical to building a digital future
WHAT is the role of digitalisation in modern shipping? What external forces are pressuring the industry to adopt ever-more-sophisticated tech solutions? How is this pressure slowly but surely changing the structure of shipping companies?
It is all too easy to get caught up in a digital journey that begins in complexity and ends in confusion.
But as OrbitMI chief executive Ali Riaz explains in this video, there is a very simply truth behind digitalisation. Shipping must make strategic decisions at an ever-faster pace, which can only be achieved effectively by a combination of data and expertise.
That’s why larger companies have expanded their senior leadership to include chief digital officers, chief technical officers, and chief compliance officers. They have the resources to do that.
However, small and medium-sized companies must not get left behind. While the ‘bad news’ is that there’s a cost to digitalisation, the ‘good news’ is that the investment will transform the business.
Digitalisation has arrived at a time of volatility and uncertainty for shipping, with several black swan events to be addressed and reason to believe there are several more to come. However, Ali Riaz assures, those companies that accept black swans are inevitable, prepare for them, and implement rehearsed procedures will survive. Digital solutions are key to all these steps.
In this video, Ali Riaz explains why the future of shipping is digital, why leadership is critical to building a digital future, and which businesses will thrive and which will merely survive in a digital world.