The past year has been a roller-coaster ride, with the havoc caused by the global pandemic, many businesses struggled in ways unimaginable. But every dark cloud has a silver lining. As enterprises and service providers concentrated on diversification to counteract the ramifications of COVID-19, the adoption of digital technology accelerated and made unprecedented progress to give hope to a new future.
As we move from registers to software to intelligent applications for managing every aspect of an enterprise, what does the future hold? What are some of the digital transformation trends that the world will see? Here’s a complete rundown:
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Designing customer experience based on data analytics and insights
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Growth will be fueled by the advent of new virtual business models
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Significant emphasis on developing sustainable supply chains through analytics
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The expansion of a dynamic work culture
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Digital Banking Extravaganza
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Development of 5G infrastructure
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A strong emphasis on cybersecurity will be placed
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AI will be viewed as a complementary technology for a wide range of applications
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The cloud and the Internet of Things (IoT) will be essential for growth
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Blockchain technology will be more widely utilized for diverse use
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Better Customer Experience With The Help Of CPDs
Customer experience has become a priority for most organizations as they try to maintain and expand their market share. More and more businesses are recognizing that employing a data-driven strategy may improve their interactions with customers. This is where CPDs come in, they not only collect but structure data so that it can be used to its maximum potential, simplifying traditional roles like marketing and sales. Such analytics-based services assist businesses operating in various sectors such as real estate, retail, e-commerce and even media in assessing the needs of their target customers and providing unique experiences, as well as inventory management, resulting in an unrivaled client experience.
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New Virtual Business Models
The Global pandemic catalyzed many businesses and forced them to re-imagine business models. Businesses ranging from various sectors were seen to move towards digital platforms, outsourcing web development and app development services for a design and user interface that matched with their brand. Consider the convergence towards streaming and online fitness, home cooking, and even grocery shopping, all of which were previously impervious to being shifted online but now are more popular than ever. Whether you are a doctor working in healthcare or a teacher working in the education sector. Shifting to digital platforms and telecommuting have opened new avenues and business models.
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Better Supply-Chain Management Through Data Insights
The capacity of a company to promptly respond to supply chain challenges, time to market demands, and constantly changing consumer expectations has become crucial. Analytics for sales forecasting and managing production capacity as well as inventory has been a priority area, and it is projected to gather momentum even in the future with the assistance of automation as a complementing technology.
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Flexible Working Culture
It took a global pandemic to realize the positive externalizes that can come with flexible working models. With the adoption of digital technologies, companies found that they could achieve steady output at a lower cost whereas employees benefit from improved work-life balance, decreased commute time, and higher productivity resulting in a win for all. So don’t be surprised if you see hybrid working culture even after the pandemic
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Digital Banking Extravaganza
Cashless transactions are gaining momentum not just with the consumers but also on the business to the business side. The banking and financial sector have migrated the majority of these services online, launching online transactions, digital payment systems, digital credit application procedures, online loan applications, and e-wallets. With research being done on methods to improve the digital user experience through effective digital transformation, it’s only natural that digital banking and open banking will grow in popularity in the next few years.
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5G Infrastructure
Work from home, videoconferencing and digital collaboration is fundamental for business operations right now and hence there is a demand for reliable connectivity and bandwidth. For businesses, today remaining disconnected is not an option. Whether you belong from the education sector conducting classes online or communicating with clients in the manufacturing sector, 5G investments are an essential component for smooth operation. With the increased use of IoT, cloud and virtual communication, the importance of 5G will become even more prevalent in 2021.
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AI across Industries
AI has effectively supplemented advanced technologies such as automation, IoT, data analytics, robotics, cloud, and chat-bots across a wide range of application areas including AIOps, governance, compliance, customer experience, operations, decision making, and forecasting in diverse sectors such as healthcare, pharmaceutical research, retail, marketing, finance and intelligent process automation and that’s just from the perspective of enterprises. For consumers, it will mean tailoring content consumption and even customer experience. We will see more of this trend in the coming year.
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Cyber Security
With digital transformation and the shift towards moving everything, online businesses must safeguard their work-spaces and IT ecosystems. E-wallets and digital banking are just examples of reasons why the protection of data is so important. There have been several cyber-attacks that have cost companies millions. The need for cybersecurity has grown significantly and will be regarded as the greatest concern in 2021.
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Multi-Cloud and IoT Drivers for Growth
Migrating to the multi-cloud enables the user to effectively deploy cloud computing assets, software, and a database. It also reduces typical hurdles that providers encounter, as well as proprietary lock-ins. As organizations are aggressively shifting to the cloud, Multi-cloud and hybrid cloud solutions particularly in the agriculture development area are shaping corporate change like never before.
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BlockChain
The growth of blockchain technology across various sectors such as manufacturing, government, healthcare and telecommunications, real estate, trade finance is not too far away. Blockchain technology allows for the safe and fast creation of a tamper-proof ledger of confidential activities. Whether it is used for smart car data storage and transmission or international payments and money transfers, specialized connected medical devices linked with health data, or facilitating house sales by rapidly validating finances, reducing fraud through encryption, and providing transparency from selling to purchase.The possibilities are endless!
How can you be a part of the digital transformation revolution?
Digital transformation is a tremendous undertaking therefore in today's rapidly evolving world; businesses need an IT strategizing partner that can smooth out this transition. There is more value or perceived value created through software. ZAPTA Technologies is a Software Development Company that offers a variety of services such as AI embedded systems, Business Intelligence, Automation, Artificial Intelligence and much more to enable digital transformation for a business or company.