Without a strategy that incorporates digital transformation, your business could be missing out on important opportunities. Understanding the top trends in digital transformation, such as artificial intelligence, is key to remaining competitive in today’s electronic marketplace.
What Exactly Is Digital Transformation?
Digital transformation is one of those modern buzzwords that can get easily thrown out in business meetings – often by people who don’t understand its meaning or impact. But without a clear idea of what digital transformation is, many leaders have a hard time leveraging it for maximum impact.
The Enterprisers Project from Redhat defines digital transformation as:
“Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It’s also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure.”
The key here is how digital technology infuses all parts of a business to improve operations, create better products, and make customers happy.
5 Big Trends in Digital Transformation
Artificial Intelligence (AI) is, of course, one of the top trends in technology today, which is why hiring an AI Consultant is highly recommended. However, AI is just part of the bigger picture. When considering a plan to integrate digital transformation with your business, here are some of the biggest trends to look out for:
1. Blockchain Technology
Blockchain technology, also known as “the blockchain,” started off as a method to track digital currency transactions such as with Bitcoin. However, blockchain technology can do much more than that. The “ledger” that is embedded in the block can do everything from tracking transactions to keeping records.
2. Frictionless Business
Frictionless business is an approach to business partnerships that works just like it sounds – by removing barriers to collaboration, “frictionless” business allows things to work smoothly and effortlessly. Technology can facilitate this.
3. Transparent Artificial Intelligence
We already mentioned AI, but what is transparent Artificial Intelligence? Transparent AI, as opposed to “opaque” AI, is artificial intelligence that provides a window into the underlying logic in a way that everyone can understand it. This allows for more transparency and openness and can create more trust between partners and with customers.
4. IoT Ecosystems
IoT or the “Internet of Things” is the connection of smart devices with the greater network and Internet. From IoT tagged warehouse items that improve supply chain management to IoT in your office kitchen, these ecosystems can help streamline operations and improve the bottom line.
5. Actionable Analytics
Gathering all the data and analytics in the world won’t help if you if you can’t use it. Business Intelligence is in part the process of analyzing this data to make it actionable and useful.
Get Started with Digital Transformation Today
With the right strategic plan to leverage new technologies, your company can maximize profits while improving products and experience for your valued customers. An Artificial Intelligence Consultant can help your company determine the best ways to utilize and implement some of these technologies for the most powerful results.