Digital transformation marks a rethinking of how an organization uses technology, people, and processes in pursuit of new business models and new revenue streams, driven by changes in customer expectations around products and services.

On 23rd June, intending to equip the students for the changing business world, IMI-B had arranged the corporate talk with Mr. TanayKediyal ,EVP Head of Consumer Small Business Banking, Wells Fargo.

Digital transformation is the integration of digital technology into all areas of business, fundamentally changing how we operate and deliver value to the customers. The speaker discussed digital transformation in terms of customer centricity. The demand of customer expecting from us to transform the business. He also talked about automated operations, cross functional team, people, new business model.

People may think that digital means going paperless, another line of thoughtsincludes data analytics, artificial intelligent, agile teams. In reality, digital is a hot mess of word. He enlightened students that digital transformation is no more the interaction with application only. Students also learned about process, people, organization, technology.

Digital transformation will look different for every company. It can be hard to pinpoint a definition that applies to all. However, in general IoT, cloud, block chain these are the building blocks of digital transformation. Beyond that, it is a cultural change that requires organizations to sustain in this new era. There was Q&A session at the end in which a lot of students interacted with him and asked questions related to the topic. All these insights were like food for thought for the students.