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The Evolution of Digital Product Teams — A CXO’s Perspective
- The evolution of digital product teams has transitioned from IT-led to marketing-led strategies to the current product-led approach, with dedicated VPs of Product and Chief Digital Officers in organizations.
- In the early days, digital product development lacked dedicated teams, with projects either handled by IT or led by marketing in collaboration with external agencies, focusing on modernizing legacy technology.
- Agile methodologies and investment in Digital Experience Platforms (DXPs) brought about a shift towards customer-centric, iterative development, away from outdated long release cycles.
- The emergence of Chief Digital Officers (CDOs) marked strategic thinking about digital products, but challenges persisted in execution due to limited control over teams and budgets.
- The impact of COVID-19 accelerated digital transformation, prompting companies to rapidly build internal product teams and shift operations online, leading to hiring sprees for top talent.
- While companies initially benefitted from hiring premium talent, sustaining momentum post 2023 became challenging as resources tightened, emphasizing the need for improved team efficiency.
- The current focus is on treating product development as an ongoing capability with cross-functional, continuously learning and iterating teams, rather than project-based work.
- The future of digital product teams involves AI integration to enhance speed, intelligence, and adaptability, alongside adaptive methodologies for real-time response to change.
- Companies must evolve their systems for building and iterating digital products, promoting embedded expertise, AI-powered automation, and adaptive methodologies for competitive advantage.
- Livefront's MESH model emphasizes embedding experienced product, design, and engineering experts within client teams for partnership-focused execution, collaboration, and knowledge transfer.
- The evolving digital product landscape is shifting towards AI-enhanced, embedded, and adaptive teams, where organizations that adapt quickly to this new reality will gain a competitive edge.
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