This article is brought to you by Retail Technology Review: Ocado's success puts pressure on retailers for digital skills and transformation.
Ocado shares have soared nearly 45 per cent creating further pressure for digital transformation in retail.[1] Ocado has taken the lead in bolstering its technology capabilities as customers increasingly turn to online rather than in-store, putting pressure on grocers to evolve their business models.
Many more companies are now becoming reliant on digital workers, with technology becoming an integral part of business. According to the annual Tech Nation report, digital tech sector employment rose 13.2 per cent from 2014 to 2017.[2]
Innovations such as retail automation, artificial intelligence and self-driving delivery trucks require businesses to have a robust understanding of technology to support growth ambitions.
Farida Gibbs, CEO of technology consultancy Gibbs Hybrid comments, "It is more important than ever for expanding companies to invest in high quality talent as projects can fail if investment in technology does not reach its full potential. Businesses like Ocado who are making the strategic decision to invest in technology – automated warehouses, apps for retailers and machine-learning – require the skills and expertise to optimise investment and fulfil ambitions to take on the global tech giants.
Farida continues, "Without technology, no business can create and deliver its products or services whilst engaging with customers efficiently. Going digital isn't just about having the latest technology at hand, but rather it's how you are putting it to use for commercial impact. Digital expertise allows businesses to craft a strategic response to the opportunities and threats surrounding technology."
[1] https://www.theguardian.com/business/2018/may/17/us-deal-boosts-ocados-stock-market-value-above-5bn
[2] https://35z8e83m1ih83drye280o9d1-wpengine.netdna-ssl.com/wp-content/uploads/2018/05/Tech-Nation-Report-2018-WEB-180514.pdf
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