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Point of no return: Turning data into value

Author

Listed:
  • Werne, Jochen

    (Prosegur Cash Services Germany Ltd, Germany)

  • Winter, Johannes

    (acatech – National Academy of Science and Engineering, Karolinenplatz 4, 80333 Munich, Germany)

Abstract
The Cambridge Dictionary defines the point of no return as the stage at which it is no longer possible to stop what you are doing, and when its effects cannot now be avoided or prevented. Exponential advances in technology have led to a global race for dominance in politically, militarily and economically strategic technologies such as 5G, artificial intelligence (AI) and digital platforms. A reversal of this status quo is hardly conceivable. Based on this assumption, this paper looks to the future, adding the lessons of recent years — the years when the point of no return was passed. In addition, the paper uses practical examples from different industries to show how digital transformation can be successfully undergone and provides six key questions that every company should ask itself in the digital age.

Suggested Citation

  • Werne, Jochen & Winter, Johannes, 2021. "Point of no return: Turning data into value," Journal of AI, Robotics & Workplace Automation, Henry Stewart Publications, vol. 1(1), pages 43-57, September.
    • Handle: RePEc:aza:airwa0:y:2021:v:1:i:1:p:43-57
    as

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    More about this item

    Keywords

    business model innovation; business process re-engineering; data analytics; artificial intelligence (AI); platform economy; use case; digital transformation;
    All these keywords.

    JEL classification:

    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • G2 - Financial Economics - - Financial Institutions and Services

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