Digital transformation technologies acceptance has become a trend and a necessity in all areas of life. It begins with grandparents learning how to use a smartphone, followed by businesses trying to avoid becoming obsolete or irrelevant by incorporating the latest technology into their strategy. This type of behavior is highly commendable and should ideally be properly rewarded.
The digital change of businesses is what we’re going to discuss in this article. Along with having many inherent noteworthy benefits, the use of transformation technologies can be an excellent choice for companies that have decided to completely reshape themselves. If your company is among them – keep reading to find out about the best technologies on the road to widespread use.
What is digital transformation?
As you might have guessed from the opening statement, digital transformation embraces the latest digital technologies by businesses and organizations to transform their impact, improve internal processes, remodel their ecosystem, etc.
A vast portion of global digital transformation belongs to such massive technologies as big data, AI, the Internet of Things, machine learning, robotics, etc. All of these concepts were once a novelty, and now they are in use everywhere. The process of digital transformation vividly shows how well a company can adapt to the perpetually changing requirements of modern times.
The technology in digital transformation is meant to lead a company into healthy, sustainable growth and orderly disposition and away from old ineffective habits. Apart from businesses, many governments, public and private organizations also benefit from such transformation, which shows technology can not only assist in raising profits but solve environmental or societal issues as well.
Top reasons for digital transformation
While traditions are important, remaining old-fashioned till the end is not something that companies (or anyone for that matter) should be proud of. Your clients are already using most of the new technological advancements out there, so it’s time to catch up. IFS reported over 70% of companies have used the current pandemic to up their digital transformation game.
The main factor speaking in favor of a widespread digital transformation is efficiency and improved customer experience. By adding the most recent yet proven technologies for digital transformation, businesses are showing they care about customers and their well-being. You can better analyze any data that follows after each business-client interaction, track any metric, and boost your insight flow. Based on all that, you can give your clients a pleasant and unforgettable experience.
Efficiency is added to the mix after a thorough upgrade of all business processes. You will be able to better prepare each department for any planned or unexpected change. Embracing technology might help you understand your own potential and yet-to-be-discovered advantages, as well as to adapt to vigorously changing customer behavior.
Other reasons include:
- More effective communication between departments
- Lots of competitive advantage over less evolved businesses
- Skills and knowledge upgrade for your employees and stakeholders
- Promoting a culture of innovation and acceptance
What challenges can new technologies solve?
One of the biggest challenges of today’s business is trying to keep pace with internet-driven and proficient clients while satisfying their needs. And don’t forget to timely address the growing concerns of a general clientele regarding their privacy after so many companies apply such a huge variety of new technology.
Marketing is another challenging area that can certainly benefit from digital transformation technologies by making it more precise. It can balance the lead-to-sale process and help you focus more on showing potential customers you know how to solve their problems. The prospect of utilizing state-of-the-art achievements of the tech world is usually enough reason to bring people on your side.
Here are some examples of the implementation of acclaimed digital transformation technologies by companies in various industries:
- At the end of 2019, Volkswagen performed an innovative change by connecting its cars to the Internet of Things. Such digital transformation continues to reshape their car-sharing services.
- The furniture giant IKEA applied augmented reality to help customers virtually model their apartments with new items to see which ones are a good fit.
- A huge credit card company in the USA, Capital One, has recently made all its systems and applications cloud-based. It’s not their first rodeo with digitalization – back in 2012, the company was already implementing machine learning and big data.
Despite the growing number of problems that technology can solve with such enviable ease and precision, we still shouldn’t exclude human input. Any existing organizational culture or ecosystem goes hand in hand with human interaction, and it is bold to assume total digitalization is the only winning strategy. Each following innovation popping up on the market should accommodate humankind’s wellbeing and follow a more holistic path.
Top 8 digital technologies that will soon be trending
Based on the latest digital technology insights and forecasts from Deloitte and Accenture, we present you with the list of digital technologies that will dominate starting with 2022.
Collaborative robots are becoming a thing in the manufacturing sector. Those are robots that are programmed to collaborate and directly interact with humans. More and more companies are discovering that cobots can help them enhance productivity, support flexible production, and optimize assembly by taking over monotonous tasks.
Less costly cloud and multi-cloud migrations are beginning to enter the market. Businesses in need of legacy enterprise systems modernization are beginning to outsource the reengineering process, including moving their assets to several powerful low-code platforms. Some even settle their technical debt by rewriting the system’s code and getting rid of redundant features.
Next on our list of digital transformation technologies is the still ensuing rise of touchless transactions, especially in the finance industry. The increasing support for multiple finance functions, such as transactional accounting, order-to-cash, and procure-to-pay, will continue to grow thanks to automation and blockchain. By introducing more automation, there will be more time for service and strategic insights.
The compound annual growth rate of the commercial drone market is expected to increase by 57.5% from 2021 to 2028, and the market is anticipated to be worth $75.3 billion by 2026. Drones are widely used in construction, filmmaking, emergency response, real estate, agriculture, and many other industries that need contactless control over business processes, particularly during the pandemic.
Servitization and Decarbonization
Paying for a service rather than making a one-time purchase is becoming an increasingly popular behavior and business model in pursuit of decarbonization and post-pandemic economic recovery. Traditional business is slowly being replaced by subscriptions, contracts, long-term service accounts. The World Energy Investment report indicates that significant minimization of the global CO2 emissions through 2050 can be accomplished through end-use energy efficiency improvements.
Applying DevOps to Machine Learning resulted in the rise of MLOps. Subsequent integration of ML and AI has been proven to vastly improve operational discipline and performance, reveal business anomalies, generate valuable insights, and optimize workloads. AI will help organizations deploy machine learning much quicker than it used to.
Another great example in our digital transformation technologies, 2022 edition, is augmented and virtual reality. By Quantumrun’s predictions, from 2022 to 2026, wearable augmented reality devices, along with 5G, will begin to replace our usual smartphones. Both VR and AR have also found another use in the education industry.
The zero-trust security model is reshaping the traditional approach to cybersecurity. No device or system should be trusted without verification, and even then, it should be regularly scanned for breaches. Since a lot of companies have become reliant on third-party services and vendors, more than half have experienced security violations, as reported by Cyentia Institute and RiskRecon.
Our team at DICEUS has helped many companies develop and effectively execute their new digital transformation strategies. Whether it’s a robotics process automation for banking or a cloud solution for management, our experience in multiple modern technological solutions is what drives us to recommend proper digital transformation to all of our potential and existing clients. We are also well-versed in machine learning, data science, AI, and IoT.
The correct utilization of the latest trends in digital transformation and technology can help a business develop a more customer-centric approach. It’s pretty evident that it is impossible to utilize all the innovations in the technological world. Still, it’s best to try to keep up with the times and select those solutions that will bring the most significant benefit to the company. Thankfully, there are plenty to choose from.