By
Matthew Hearfield
March 12, 2024
Updated
September 16, 2024
This episode of the AI to Z podcast features Fumbi Chima, the CTO at BECU, discussing her extensive experience in leading digital transformations across various industries.
Companies and institutions are recognising the value of diversity not just as a social responsibility, but as a robust catalyst for innovative thinking. From enhancing accessibility in digital platforms to creating products that serve previously overlooked communities, the commitment to inclusion drives progress that is both more equitable and more effective.
The discussion in this episode also touches on overcoming resistance to change, the importance of innovation, and the role of diversity and inclusion in enriching organizations. The episode concludes with a focus on the excitement that innovation and inclusivity bring to the tech industry.
Listen to the full episode below:
The impact of the digital transformation
The biggest piece of any transformation is changing minds and behaviours.
Digital transformation refers to the integration of digital technology into all areas of a business, fundamentally changing how organisations operate and deliver value to customers. It's more than just a shift towards digital tools; it involves a cultural change that requires organisations to continually challenge the status quo, experiment, and get comfortable with failure. This transformation helps an organisation to keep pace with emerging customer demands now and, if done correctly, in the future.
Fumbi Chima discusses the essence of digital transformation as a multi-layered process requiring a clear definition of what transformation means for a company, understanding the impact desired, and how to measure success.
She emphasizes the importance of communication and support from the top, including the board of directors, to ensure transformation is not seen as a side project but as an integral part of the company's strategy.
Fumbi also highlights the challenges of cultural readiness, the difficulty of shifting organizational mindsets, and the necessity of managing expectations and communication throughout the transformation journey.
The role of innovation in business
The most innovative folks and businesses are people that disrupt their own business to create new revenue.
Innovation is relentlessly pushing boundaries, particularly in sectors like biotechnology, artificial intelligence (AI), and sustainable energy.
Fumbi discusses innovation as pivotal for business, highlighting that it involves change, progression, and creating efficiencies. She emphasizes that innovation is not limited to new inventions but also includes redefining or modifying existing solutions to meet new needs or improve efficiency.
It is important for businesses to understand the value of disruptive innovation within their company to create new avenues for growth or process improvements, underlining the significance of adapting and evolving existing frameworks to foster transformation and meet evolving market demands.
Creating inclusive innovation
In order to cultivate inclusivity within innovation, specific strategies can be applied to encourage participation from a broader demographic.
Outreach Initiatives: Engaging communities through tailored programmes that raise awareness and interest in innovation fields.
Example: STEM education programmes for traditionally underrepresented groups.Policy Frameworks: Governments and organisations can implement policies that promote diversity and inclusion in the innovation ecosystem.
Example: Grant schemes focusing on minority-led startups.
Fumbi suggests that inclusivity not only enriches the creative process but also ensures that a wide range of needs and challenges are addressed, ultimately leading to more effective and impactful innovations in the business landscape.
Career development in the tech industry
It is my duty to help people rise up, especially when they have the talent. And there's a lot of talent out there.
One of the key factors in career development in tech is continuous learning. Technology is constantly changing, and professionals need to stay on top of the latest developments to remain relevant.
Fumbi discusses the importance of career development within the tech industry by highlighting the necessity of continuous learning, adaptability, and embracing change.
She advocates for the accumulation of diverse experiences rather than a rush to the top, suggesting that varied experiences are what truly differentiate individuals in the tech field.
This approach to career development underscores the value of a broad skill set and an open mindset towards innovation and transformation within the rapidly evolving landscape of technology.
Key takeaways
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The digital transformation: Fumbi Chima discusses the essence of digital transformation as a multi-layered process requiring a clear definition of what transformation means for a company.
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Innovation in business: Fumbi discusses innovation as pivotal for business, highlighting that it involves change, progression, and creating efficiencies.
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Creating inclusive innovation: Fumbi Chima emphasises the importance of inclusivity for innovation in businesses, highlighting how diverse perspectives and cultural insights enhance creativity and lead to more comprehensive solutions.
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Career development in tech: Fumbi discusses the importance of career development within the tech industry by highlighting the necessity of continuous learning, adaptability, and embracing change.
Article and quotes have been edited for brevity and clarity
