IDC believes that digital innovation is defined by the terms disruptive, differentiating and unique.
When done well, it can deliver value beyond its original intent. The World Economic Forum (WEF) believes that digital innovation is key to introducing transformative change to the economy and society and that it can embed resilience and future-proof the economy.
This level of innovation on the digital level is more than just smart solutions and clever ideas – it is the use of technology to solve problems, redefine challenges and overcome legacy obstacles to success.
“There is a need to transform society economically through the innovative use of technology,” says Mandisa Ntloko-Petersen, BCX Chief Marketing Officer.
“To help communities, entrepreneurs and individuals participate in the economy from wherever they may be. Digital innovation has to be adaptable to all environments in South Africa.”
While the past two years have taken their toll on economies and organisations due to COVID-19, it has provided a boost for innovation and transformation.
There has been a rapid and unprecedented rise in technology adoption and a surge in solutions designed to fill the gaps created by remote and hybrid working, cloud-first strategies, and rapid digital adoption.
From the start-up to the enterprise, companies have found inventive ways of overcoming the challenges faced by their business and employees.
“This innovation has the potential to be key to driving economic growth in the country, but there has to be more conversation around how this can be effectively delivered – how this can be realistically achieved,” says Ntloko-Petersen.
“A starting point is to understand the current state of digital innovation at both the macro- and micro-levels. These insights can be used to find innovative solutions for our local challenges.”
The BCX Digital Innovation Report 2022 found that, on the micro level, digital innovation has undergone rapid acceleration by organisations of all sizes, globally. Initially this was for survival, but now it’s for business resilience and continuity.
On the macro level, it found that there was a need to take this further, to create an environment where digital innovation can thrive through collaboration and competition.
This is the ethos that underpins the BCX Digital Innovation Awards. Now in their fourth year, the Awards celebrate South African success stories and the accomplishments of local companies with the goal of becoming a key enabler for economic and social transformation in the country.
“By recognising the talent and inventive spirit of South African entrepreneurs, start-ups and organisations, we are ensuring that we remain a driver of digital innovation in South Africa,” concludes Ntloko-Petersen.
“The awards have not only fostered innovation, but a spirit of shared inspiration with many of the winning enterprises donating their prizes to SMEs and charities.”
To enter the BCX Digital Innovation Awards, go to www.bcx.co.za/digitalinnovationawards/ or follow #BCXDIA on social media.