Why are All Eyes on “Digital Transformation” in the Business World?

Nov 2, 2017

AI-based retail services

Enhancing customer experience has now become a new slogan for companies around the globe. The growing focus of businesses towards improving customer experience is encouraging them to identify new ways to do so. Digital transformation has started to change the way companies are doing business, many of them are now turning to artificial intelligence to impress their customers with the next level customer experience. But how far have these companies succeeded in effectively implementing digital transformation strategies into their business?

Here are some of the key findings that would help understand how digital transformation would help a business adapt to changing customer needs:

Artificial intelligence

Customer Experience is the Point of Focus in Digital Transformation

The current business trends show that most of the businesses are aiming at differentiating themselves from their competitors. Many of them have realized that the best way of doing so is to provide an experience to customers that creates a long-lasting impression in the minds of customers. Hence, investments in digital transformation by companies are becoming more customer-centric rather than just focusing on the IT and marketing aspects of the business.

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Growing Popularity of Smart Applications Powered by Artificial Intelligence

With the increasing customer-centricity of companies, the best way to accelerate digital transformation and market share of the business is to lean into the CRM platforms. Resorting to investments in smart applications that are powered by artificial intelligence such as machine learning, proactive and perspective analytics, deep learning, etc. will help businesses explore better ways of satisfying their customers.

Increasing Difficulty in Understanding Changing Customer Behavior

Today, customers have become more demanding as the rapidly rising number of competitors in the market space has given them the option to choose from the best. This makes it important for businesses to be on their toes to grasp the change in customer preferences and implement timely actions to meet their demands.

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Implementation of Digital Departments in Companies

Companies across the globe have started realizing the importance of digital transformation for their business. This has compelled many companies to employ digital departments with full-time employees focused on identifying constantly changing customer demands and formulating new techniques of artificial intelligence that can improve and accelerate digital transformation in the business.

Looking at the Bigger Picture

The time has come for companies to realize that there is much more scope for improvement in digital transformation for business apart from just mobile technology.  Breakthrough inventions such as artificial intelligence, wearables, and IoT are rapidly becoming increasingly popular. Companies must tap these technologies to attract more customer attention.

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