Digital Transformation is maturing and companies pursuing it are enjoying the harmonious growth and benefits. As many presume, implementing Digital Transformation is not for going mobile but ensuring a company-wide growth.
According to Forbes, Fifty-seven percent cite “integrating all social, mobile, web, commerce, service efforts and investments to deliver an integrated, frictionless, and omnichannel customer experience” as a long term goal; fifty-four percent cite it as a short term one.
Forty-nine percent seek to “modernize IT infrastructure and technologies with increased agility, flexibility, manageability and security” in the long term; forty-five in the short term.
So, here are a few of the top digital transformation technologies that will dominate the way enterprises in 2019.
Internet of Things
Indeed IoT. While we all have read about or in somewhat experienced about IoT, the truth is that the rate of adoption of IoT has not been uniform across industries. Today, IoT spending is dominated by the manufacturing sector.
However, IoT unleashes new opportunities for several industries, through smart connected products and machines, and enables the continuous collection of environmental and user data that can be used to improve business and service performance. 2019-20 could be the breakthrough year for the wide adoption of IoT.
A World Economic Forum report says – Historically, consumption patterns were based on a “first moment of truth” (influencer), then a “second moment of truth” (at retail) and then a “third moment of truth” (consumption). IoT has the potential to move all three steps to a “continuous moment of truth”. This effectively reduces the traditional barriers to entry and could affect business models as it changes the economics of trial.
Artificial Intelligence will move from boardroom talk to adoption; from use only by large, tech-savvy corporations to enterprises of all sizes across industries; from use cases in limited scenarios like banking/ customer care to several business processes. Why?
Because of three reasons. (1) Digitalization has given rise to very large, diverse data sets and an ever-accelerating accumulation of data (2) Rapid growth of computing capacity and decreasing prices enables the processing of large data sets by an increasing number of users (3) Evolution of new data-use algorithms.
And, as AI is capable of learning and making decisions almost in the same way as human beings and enables machines, devices, programs, systems and services to function in a manner that is sensible – enterprises will lap up the possibility of making sense of data through AI.
Bots and Virtual Assistants
We have seen bots in action. We have experienced bots in making customer service easier and cheaper. But, believe it or not, very few enterprises have used bot technology internally to make business services/operations faster and cheaper. 2019-20 could definitely see a big change in this respect.
Companies that produce office automation software are already investing big on adding to their portfolio trainable digital assistant technologies that are smart, predictive, have the capability to learn, and can quickly adapt to changing the environment.
Yes. We are not kidding. Sample this. The laptops given to every employee in one of the largest multinational corporations are wired in a way that every file created is auto stored in the Cloud than on the machine.
Increasingly organizations will use the cloud to bring applications, data, and IT services closer to customers in order to improve the performance of digital touchpoints. This has another significant benefit for them. Easy use of analytics by moving the data closer to the analysis engine.
Hybrid clouds allow enterprises to manage the servers that run their “Cloud” applications on premises, as well as enable seamless movement of jobs between enterprise data centres and the public cloud. This means more efficient backup, file sharing, and Software as a Service (SaaS) apps at less capital investment.
There are many more trends that are shaping the future of enterprises. However, when we look at some fundamental shifts that are still taking root in organizations across a diverse spectrum and especially in the emerging economies, it is not the buzzwords that hold sway, but technologies that can bring in a tangible impact on the bottom line as well as their capability to compete effectively.
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