Having a competitive advantage in the market has never been more challenging than it is right now. But on the plus side, companies of today are blessed with numerous opportunities to build and scale a company to global reach. With the internet becoming the preferred platform for innovation and growth of an information-fueled economy, technology proves to be both a strategic requirement as well as a strategic advantage.
Digital transformations are the actual change drivers for modern businesses. It is essentially the application of technology to modernize business processes, activities, models, and strategies with the intent of making the company more competitive and/or more profitable. It’s safe to say that if not everybody, at least a good majority of businesses are extremely focused on digital transformation. Intelligence gathering, creating more agile processes, and increasing customer centricity through tools like self-service platforms are some of the key digital transformation trends affecting top companies. Therefore, it has become more or less of a necessity for companies to keep a track of the digital transformation trends to prevent themselves from becoming obsolete. Let’s take a look at the digital transformation trends that are in store for 2018.
Speak with our analytics experts to know more about the challenges in embracing these digital transformation trends.
Make Way for Edge Computing
If you think that your company is all equipped and up-to-date with the latest digital transformation trends – look out! There might be something that you are missing out on. Most companies are finally ready to leap towards cloud computing, however, edge computing which is driven by the sheer volume and speed of information produced by the IoT has made its way to the forefront. Top companies in the market have made their bets on this technology, which goes to prove that this is one of the digital transformation trends that is going to make it big in the years to come.
AI Goes Mainstream
Not just businesses but AI is now a commonly used tool with everyone from toddlers to seniors using Alexa, Siri, and customer service chatbots. AI will continue to be one of the digital transformation trends that will be a part of our lives even in the future. Companies will continue to use AI to surprise, connect, and communicate with their customers in numerous ways.
Blockchain in the Limelight
With Bitcoin values at an all-time high, blockchain technology has found its place as one of the digital transformation trends that has been grabbing a lot of eyeballs. The financial industry will be one of the first sectors to begin utilizing this technology. However, numerous other industries from healthcare to entertainment to hospitality will not be far behind from reaping the benefits of blockchain technology.
Leaping Over to 5G
Though we have been hearing the news of 5G technology for quite some time now, looks like it is all set to hit the markets soon. The amount of data produced by the IoT will force data to the edge, it will also force mobile providers to move faster than ever towards 5G technology. Also, the requirement by companies for high-speed connectivity and real-time insights are putting extreme pressure on communications firms to quickly and efficiently move large amounts of data in as little time as possible – hence the rush to build out 5G networks.