Digital transformation for enterprises is not new. They have been doing it for a long time. However, in the 21st century, with so many digital start-ups sprouting everywhere, it is imperative for enterprises to adapt to the new wave of technologies and processes to stay relevant.
Enterprises are uncertain about what the future holds for them. A recent survey of over 3500 business leaders from across the world, shed light on the crux of the uncertainty that enterprises face. 45% of them feel that their organization may become outdated in the next five years. And about the same percentage of them aren’t sure how their industry will look like in five years. Almost all of them are threatened by the plethora of digital start-ups that are sprouting up every few months. They are fighting eagerly to stay relevant in their own industry.
The fact that over 55% of enterprises across the world are looking to digitally transform is proof enough that enterprises need a solution. To further the need for a solution for enterprises to digitally transform, here are a few trends that are expected to help enterprises in the coming years :
Internet of Things (IoT)
(IoT) Internet of Things solutions can be tricky. This is possible because there are many definitions for IoT. However, IoT can be defined as the concept of connecting devices to the internet and with each other. Although it may sound simple, in reality, it isn’t!
Given this connection between devices and the people using them, IoT devices are expected to become the norm in the future. Enterprises should capitalize on this trend and improve their foothold in their industry.
With the increase in IoT devices, there will always be a security risk. Enterprises should not overlook this and must take the necessary steps to safeguard themselves from any security risks.
Nevertheless, IoT isn’t expected to slow down any time soon, making it a crucial solution for enterprises that are looking to digitally transform.
Artificial Intelligence
For many people, the words artificial intelligence mean a robot apocalypse. But realistically, AI plays a pivotal role in simplifying processes for enterprises.
If enterprises try to implement AI across their business – it would be catastrophic. It would be too much ocean to boil. They should use AI to solve specific challenges.
When AI is used to solve a specific challenge, the best solutions seem to emerge. However, when AI is applied to an entire enterprise, it often leads to disappointment.
Additionally, AI plays a pivotal role in simplifying data. In simple terms, it is the backbone for big data. Without AI, tracking data will become extremely difficult.
For example, many hospitals are using AI to improve patient care. They do this by designing personalized treatment plans based on patient health records, creating sophisticated medication management and adherence tools, etc.
Big Data
Digital technologies give businesses an innovative set of opportunities to create value. These opportunities arise as mobile, cloud, social media, and analytics change how end consumers and organizations interact.
Governments and enterprises are creating new customer experiences, improving services for citizens, delivering better outcomes while reducing costs, and increasing staff productivity.
Puzzled as to how this is possible?
This is the true essence of digital transformation. And this is only possible with big data.
Big data has easily been the buzzword for enterprises for decades. And with the advent of artificial intelligence, big data has donned a different avatar! Big data helps unlock digital customers, markets, and channels, it enables running a digital enterprise.
