December 19, 2017
To digitally transform, it is obvious that enterprises must do much more than just simply adopt “digital technologies.” There are enterprises that feel that adopting a few new digital technologies is sufficient to digitally transform. Well, that isn’t the tenth of it!
Enterprises need to be strategic about their overall approach if they want to digitally transform. Digital transformation is all about having the correct strategy to improve an existing business or rejuvenate a dying one.
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shed light on the crux of the uncertainty that enterprises face. 45% of them feel that their organization may become outdated in the next five years.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 of a solution for enterprises to digitally transform, here are a few trends that are expected to help enterprises in 2018:
IoT can be tricky. This is possibly 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!
According to predictions, by 2020 there will be over 25 billion connected devices. This will only increase the interconnection of devices with each other and also the people using them.
Given this connection of 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.
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 back bone 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.
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. The industry is expected to cross over 100 billion by 2019. 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.
Need we say more?
Mobile has been shaping the technology landscape for the last few years. However, for enterprises mobility adoption is essential to improve operational efficiency.
Native apps for mobile help sales personnel in connecting with vendors, back-office personnel, partners, etc., which facilitates expediting tasks and real-time decision making. Sales personnel need information at their fingertips, mobile apps do just that! These apps, help in building lasting relationships with existing and potential partners and/or vendors, and help in cutting down response time.
Mobile apps help in:
-Gaining a competitive advantage
-Eliminating the BYOD concerns
-Reducing IT spend
-Making the enterprise applications agile
-Improving customer service and delivery
As people spend more and more time on their mobile phones, enterprises should start looking at mobile as means to increase productivity. Higher engagement leads to more productivity and in turn leads to more business. It is imperative that enterprises improve their mobile collaboration capabilities to enable key decision makers to make the right decisions. This also leads to work-life balance and allows employees to be more productive during the day.
Security in 2018 is expected to change the way enterprises function. It will become embedded into the platform to support everything that businesses do. Enterprises will need end-to-end security infrastructure for the network, applications, and developers.
As the threat landscape expands, enterprises need a security solution that is comprehensive and robust. Measuring security effectiveness is necessary so that cyber-risks can be integrated into any enterprise risk assessment.
As digital technology is on the rise to global acceptance, the scope for brands, businesses, hospitals, and governments to interact and engage with their customers, citizens, and patients is boundless. 2018 is going to be one for the books. Hence, enterprises should incorporate the abovementioned trends and strategize for 2018. These will help them stay ahead of their competition.
What are your thoughts about digital transformation for enterprises in 2018? Do you think the aforementioned trends will define enterprises in 2018? Share your thoughts and suggestions by commenting below.