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In this interview, Avi Reichental, Founder and CEO at XponentialWorks speaks about the essentials for a successful digital transformation, the fundamental failure of firms as they inherently resist disruptive changes and the need to identify early opportunities and act on them. Avi Reichental is one of the world’s leading authorities on exponential tech convergence and holds several corporate leadership roles. In 2014, he was named by Popular Mechanics as one of the top 25 Makers Who Are Reinventing the American Dream, and was listed by Fortune magazine in 2013 as a top 50 business leader
Tell us about your product/business and your specific role?
XponentialWorks is one of the leading domain experts in digital transformation, particularly in additive manufacturing, AI and robotics. We – also engage in building unique ecosystems that bring together early stage companies with more mature companies who are looking for the very technologies and digital transformation that the younger companies can offer. In addition to this, we invest in the incubation of our most promising early stage companies that act as edge organizations for the benefit of larger, mid-market companies undertaking digital transformation.
What is the core issue your product/technology aims to address and what sets it apart from the other players in the market?
The core issue we address is the failure to launch on the part of many companies that have either paid lip-service or spent a lot of money trying to digitally transform their organization. The root cause is either a lack of resources, technology, experience and competency to make this step. In many cases, the fundamental failure to understand that every organization has a built-in immune system which, for good and vital reasons, resists disruptive change.
We create a multi-year journey that successfully transitions companies from traditional business models to digital platforms. Our solution is to start at the edge of the company and migrate it into the core, bringing in the best digital technologies both for product design and manufacturing. We act not as guides or consultants but as part of the organization that delivers projects and real transformation and not just Powerpoint presentations, studies and recommendations.
What’s the one industry, sector or role that your technology is most relevant to?
We focus on mid-market companies in traditional manufacturing. We’re helping them put together decades, and sometimes even centuries, of traditional manufacturing experience with digital manufacturing to make them competitive and viable players in our world, which is increasingly becoming connected and digital.