Trends in Digital Transformation

With Digital Transformation emerging as a necessary disruption in the business world, computer-based technologies are being incorporated into organizations’ products, processes, and strategies. This adoption of digital technologies is driving organizational growth as the goals of improved efficiency, business value, and innovation are being met. 

As technology evolves, so do businesses. And rethinking strategies are very much a part of the business world. If you want to be a part of a dynamic ecosystem where technology is the business driver, take the Digital Transformation course to understand how businesses are rethinking traditional approaches to evolve. Learn how enterprises transform in the digital age to keep pace with disruptive technologies and their immense capabilities/

Digital Transformation is important because it allows organizations to adapt to a constantly changing digital environment. This allows companies to adapt to ever-evolving industries and improve operations to meet end goals. 

Learning about Digital Transformation and its drivers sets the business and IT professional for career growth, as it equips him/her with the transformative IT knowledge necessary for experimentation, innovation and fundamental change.  

What is Digital Transformation (DX)

According to the Deloitte definition as mentioned in Wired, “Digital Transformation is all about becoming a digital enterprise—an organization that uses technology to continuously evolve all aspects of its business models (what it offers, how it interacts with customers and how it operates).” 

It means empowering your organization with new digitized technology without a plunge in productivity or customer satisfaction. Digital Transformation is thus the process of using digital technologies to transform existing or legacy non-digital business processes to digitalization and help businesses evolve and thrive in an increasingly cutting-edge business environment. It includes translating leadership and business goals using a digital prism to meet evolving market expectations. Business processes are strategically redefined to deliver value within a tech-driven ecosystem. Companies operating with a digitally transformative focus in mind will adopt a variety of software applications when addressing customer needs, opting for powerful organizational tools from Google Workspace and Edison Mail inbox unification apps to CRMs and custom solutions tailored specifically to business needs.

Companies must evolve to remain competitive and continue to deliver value to their customers. A company that doesn’t evolve is likely to fall behind. Digital Transformation thus allows organizations to adapt, innovate and continually improve operations using the digital path.

Trends in Digital Transformation

Digital Transformation is enabled in various ways: through data migration to the cloud, by leveraging artificial intelligence, using an IoT network to gather data, or digital robots to perform services that traditionally humans undertake.

The pandemic speeded the pace of Digital Transformation, disrupting lives and businesses, changing the way we work, shop, and interact. Work-from-home became the norm. Businesses were forced to work with 50% of staff. And shopping from home emerged as a way of life. Some trends replaced others, for instance, a 24/7 secure and reliable connectivity. From 2020 to 2022, Digital Transformation has emerged as the ultimate enabler of business change, as it has swept through every industry and business, big and small.

Let us look at some of the trends powering Digital Transformation in the year 2022.

Cloud Tech and Connected Multi-clouds will prevail.

People and processes are interacting with data, collaborating and communicating on the cloud more than ever before. Distributed cloud is the new trend, as organizations are keen to operate smoothly for evolving customer expectations. Standalone public, private or hybrid clouds are becoming restrictive as organizations push the boundaries to meet the needs of connected clouds. 

Internet of Things (IoT) is hot.

IoT is one of the fastest emerging technologies as more and more devices get connected to deliver outcomes. The number of connected devices has grown exponentially because of lower costs of sensor technology, and remote and outsourced operations.

Organizations cannot survive without harnessing the opportunities in the IoT network, especially post-pandemic when sectors like healthcare and eCommerce are relying upon the connected framework to deliver value.

Connected Supply Chains are revolutionizing traditional supply chains.

Customer expectations are changing dramatically, challenging traditional supply chains. The rise in the IoT framework has given rise to the ‘connected supply chain’ that is transforming supply chain networks.

Contactless solutions and digital payments are rising.

Ever since the pandemic, there has been a phenomenal rise in contactless solutions and payments. While contactless payments have emerged as an essential service, the growth in mobile wallets and digital payments as the preferred mode of a transaction has speeded-up Digital Transformation. From contactless food orders, in-seat movie ticket booking to the use of QR codes for contactless payments, the digitalization in services and transactions has fast-tracked the growth of the digital economy. Digital payments have also emerged at the frontline of the banking industry’s Digital Transformation.

The Fifth Generation (5G) Wireless Network, will take the world by storm.

The next era of digital communication is the 5G network. Its speed is its highlight, and with a slew of resulting benefits, businesses depending upon the Internet and applications are likely to reap the maximum benefits.

5G has the potential to transform user experiences and market deliveries with higher speeds, lower latency, and wider coverage. Combined with the growth in the IoT network, the impact of 5G adoption on Digital Transformation is likely to be significant, driving growth in smart city environments, smart manufacturing, smart vehicles, and IoT-intensive networks.

Customer Data Platforms (CDP) are “in”.

With companies having access to a great deal of data, the single data management software like CRM is no more a choice. Customer Data Platform is an integrated customer database that enables unified data collection and processing from online and offline channels. 

Robotic Process Automation (RPA) is the new buzzword.

Robotic Process Automation technology is changing the way organizations handle work that was traditionally undertaken by humans. Robot software is configured to handle processes leaving employees free to focus on other high-value work. With 24/7 capabilities and zero errors, RPA is driving Digital Transformation within businesses, big and small. 

Artificial Intelligence (AI) and Machine Learning (ML) are disrupting processes.

The ability of AI to simulate human intelligence and ML to harness insights from automation is making these technologies a key Digital Transformation trend. 

Organizations are keen to make AI a critical element of their Digital Transformation strategy. Businesses are endeavoring to design their core systems and strategies around AI and its capabilities. AI and ML are thus revolutionizing customer experiences and processes.

AI democratization is the new buzzword where AI becomes a part of everyday life, every organization, and industry. Whether it is a start-up or a large enterprise, every business is incorporating AI into its business processes and systems across multiple touchpoints.

The Hybrid work model is the new style statement.

A remote working system has driven the discovery of tools and enablers that support meetings and collaborations. ERP systems, CRM, project management systems, and online meeting platforms are some of the instances of the latest hybrid work model driving Digital Transformation.

As workplaces evolve and are set to be heavily connected, both enterprise needs and employee expectations are changing. Companies are forced to adjust and deliver digitally connected experiences that sustain productivity while retaining talent.

Bottomline

Technology innovation is critical to creating a differentiator in the delivery of services and products. With technology evolving and changing at a fast pace, companies must transform and evolve to keep pace with the competition. Digital Transformation is the ultimate enabler of business growth bringing technologies closer to the company needs and customer satisfaction. And mastering the same through online Bootcamps is the way to be relevant and drive career growth.

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