The Covid-19 pandemic has resulted in various restrictions on traditional venues, causing people to put pressure on businesses, seeking out online alternatives. To provide the greatest client experience, businesses should have a strong social media presence. To do this, they begin incorporating digital transformation trends into their organizations. Direct digital transformation (DX) investment is expanding at a 17.5 percent compound annual growth rate (CAGR) and is predicted to reach $7.4 trillion between 2020 and 2023 as corporations expand on current strategies and investments, showing that digital transformation is a growing tendency.
Top 6 digital transformation trends you should be aware of to win
To survive the epidemic and remain relevant to customers, companies have begun to embrace new technologies and approaches. Businesses must be aware of emerging trends that will affect how they operate and engage with their consumers. When you stay up-to-date, you can put your brand ahead of the competition and reap the benefits of becoming a part of the digital revolution. In this article, we will discuss top 6 trends that you can benefit from.
5G is everywhere to bring new business opportunities
In today’s world, working from home and in remote locations has become a new normal. Businesses are devising efficient methods to manage their processes from remote areas. Thus, the 5G network is projected to either substitute or extend the current 4G LTE network to boost wireless connectivity. It provides an unprecedented gain in speed, much quicker than the previous-generation could ever hope to reach. Since 5G provides minimal latency, it allows for dense installations and generally enhances mobile connectivity. Implementing the Internet of Things (IoT) and cloud-based technology into business operations will become more affordable as a result.
Enhanced data privacy as a must-have
The rate of technology transformation is high, but it also raises cybersecurity concerns. This risk, if not handled successfully, might expose enterprises and their consumers to financial damage and harm the reputation. According to Gartner, by the end of 2021, application programming interface (API) assaults would be the most common type of cyberattack, resulting in data exposures for business online services. For example, if the platform on which developers construct their APIs has a default configuration that makes any associated data publicly visible, they may be exposed to severe risk. At this point, security will become a must. Frameworks that are safe by definition comprise those that do not enable users to establish unreliable passwords and those that automatically switch to OAuth-based authentication.
Online product customization as a proven way to drive audience loyalty
Because of advancements in digital and manufacturing technologies, firms may now give customers the chance to personalize products online and then immediately get them delivered. The advantage of customisation is that it improves the customer experience by enabling users to become collaborators in the production process. The greater the user experience, the higher the chance of engagement. Retailers with an online presence that allows for customization and personalisation have a substantial competitive advantage. Personalization should be on each retailer’s technological agenda to remain successful in the long run.
AR and VR for eLearning to revolutionize the industry
Businesses and customers aren’t the only ones benefiting from rapid technological improvements. There are digitalization tendencies in education as well. The merging of Augmented Reality (AR) and Virtual Reality (VR) is one of the leading-edge tech development tendencies. AR and VR have the potential to make learning more enjoyable and instructive because they take the typical classroom notion beyond our wildest imaginations. Training at the bottom of the ocean is definitely more interesting than standard lectures. These techniques have the ability to completely transform learning, which is why corporations such as Google have lately begun to invest in AR/VR.
Multi-cloud technology for greater business security
With the growing success of the cloud, the number of enterprises that will use it will only increase. The boost of sales of cloud management platforms demonstrates this prediction. Because of this expansion, the cloud will be subjected to stricter inspection, as organizations seek to avoid becoming excessively reliant on a single cloud provider.
Aside from that, enterprises will realize that going all-in on a public or private cloud isn’t the best option for security reasons. Each has advantages and disadvantages, so organizations may require something that is not provided by one source. Finally, the number of companies who will jump into multi-cloud will rise. To keep up with the demand for multi-cloud technology, you can hire a team of Python developers.
ML and AI solutions for more intelligent data handling
Data-based decision-making is a critical component of growing a successful organization since it provides important insights into how to create the best business solutions. It is also extremely helpful for converting data into knowledge and streamlining workloads. Many businesses are investing in AI (artificial intelligence) and ML (machine learning) technologies to analyze massive amounts of data reliably and in real-time. AI and ML can be incorporated into data-processing platforms, systems, and programs. When it comes to data analytics, ML and AI are tremendous force multipliers for several reasons. The first is the speed with which AI can handle massive volumes of data, no matter how complicated they are. Second is ML’s ability to optimize many of the operations involved in the business. The third is that AI and ML increase the quality of the algorithms with each iteration.
How will these digital transformation trends affect your business in 2022 and beyond?
If you’ve been following the digital transformation trends over the last years, you may have noticed some recurring themes. The cloud, AI, IoT, AR/VR are ever-present, whether in the development or early deployment stages. Most of the outstanding technologies that were previously known only as concepts and trials have been properly integrated by 2020. Examples of this are 5G phones, networked clouds, and so on.
To remain competitive, all market-based industries embrace digital transformation. Modernization provides businesses with advantages that previous methods did not have. This demonstrates that keeping up with the latest technology trends is a necessity for growth rather than an optional strategy.