Great to attend the Real Deals Tech Innovation Event last week – it highlighted for me several key themes around the challenges of Digital Transformation: 1) Starting Early: Starting the integration process early is essential, especially because one of the main challenges is gaining management buy-in and support. 2) Patience is Key: Digital transformation is a gradual process that doesn't happen overnight. It requires time, effort, and investment. 3) Operationalizing AI: Integrating artificial intelligence (AI) into existing systems requires careful planning and execution to make it operational and effective. 4) Data Quality is Vital: Ensuring high-quality data is crucial for successful integration and utilization of diverse systems. These are all topics that I find myself discussing within Private Equity on a day-to-day basis – if you’re keen to learn about our solutions for the above then feel free to get in touch: ethan.harrison@finatal.com.
Last week, our technology and data team attended Real Deals’ Tech Innovation Conference, where discussions centered on value creation through the lens of technology, data, AI and cybersecurity. The focus of many sessions was around the pace of evolution in the industry and what PE needs to know to be ahead of the curve. Our top three takeaways: 💡 AI can be harnessed across all stages of the deal cycle and business growth. It will continue to become a more powerful tool and create more space for PE professionals to focus on value creation. People and processes must take this into account to remain competitive. 💡 While the pace of change is fast, for digital transformation to be successful, implementation requires time. Careful planning, investment and leveraging high-quality data will are needed for operational effectiveness. 💡 Preparedness and proactivity are pre-requisites. Portfolio businesses can often be vulnerable to cybersecurity threats and should look to have a strategy in place to mitigate risk of breaches. The discussions highlighted the importance for funds and their portfolio businesses to be on the front foot with the development of technology & data strategy. Should you wish to discuss how Finatal can help, please get in touch. #technology #data #AI #cybersecurity #perfectlyplaced #privateequity
Great insights Ethan