The job market of the tech industry is changing and this change is mainly attributed to the developments in artificial intelligence. Although the wide perception is that these developments, especially in the field of machine learning are leading to a loss of jobs, this is, in fact, not true. Not only are these new technological advancements creating more jobs, they are also improving customer service and sales.
To stay relevant in the tech industry, executives have to excel in any of the latest technologies like blockchain, machine learning, virtual reality, internet of things and artificial intelligence. With the advent of these technologies, professionals are required to expand their knowledge base and incorporate them into their businesses. Tech executives need to keep up with the speed at which these technologies are evolving and this speed is increasing rapidly. This has also made it difficult for professionals to keep up with the changes and do their job well.
Here are a few tips for tech executives to follow so that they can be successful in today’s world.
1. Real Value:
More often than not, in the tech industry, people only talk the talk and no one really walks the walk. It is not enough to just be excited about a technology and discuss it, you also need to evaluate the real value of the technology to their business. Take the example of blockchain technology. It is perhaps the most discussed new technology. But just because it is new doesn’t imply that it is useful to the organization. Every technology should be evaluated for the value it can add to the organisation. Executives should not get carried away by something just because it is the latest trend.
2. Innovate Fast:
In today’s world, information and knowledge are not limited to any particular group. The power of fast and easily available internet along with 3D printing, open online courses from the top universities and the fact that many of the latest advances can be implemented easily using its open-source code has sped up the innovation process. The same information is available to many different people and therefore, it has become important to innovate at an accelerated pace. Executives unable to keep up with the pace will find themselves becoming irrelevant.
3. Global Ideas:
Tech professionals are no longer limited geographically. Any idea that you come up with has to be relevant globally. The best way to foster creativity is to ensure that the people around you think differently than you. A group of like-minded people will have fewer arguments, but they will also have lesser creativity. On the other hand, a group that is constantly challenging each other will come up with new ideas faster despite the friction in the group. Although everyone may not agree with you, if you have a strong intuition about something, then trust that feeling and see that it through.
4. Compatible and Experienced Team:
A team will always consist of people with different ideas and viewpoints. But it is crucial to the success of the organisation that they are also compatible and can work well with each other. In addition to this, some of the senior positions in the organization must be occupied by experienced professionals who can guide the organization well. A good work-life balance is also equally important for the employees and this should be established from the beginning itself.
5. Think Aggressively, Apply Creatively:
The motto, think aggressively and apply creatively is very important for technology teams within the organisation that is transitioning into a business revenue model from a “lights on” model. The IT department is not just responsible for ensuring that the infrastructure and systems work properly and are secure. They are also responsible for implementing the relevant technologies to the company creatively.
Focus on buying platforms instead of buying products. Platforms are constantly evolving and be used in many different ways whereas products do not evolve and are static. It is always better to have something that adapts instead of something that never changes.