In the past few years, digital transformation has become a mantra for every business over the globe. However, there is a common misconception that digital transformation is just about incorporating digital technology into the business module. On the contrary, it covers every digital device or solution that allows people to crack the traditional problems and more importantly, people prefer using digital techniques over the old, familiar counterparts.
In a narrow sense, the digital transformation can be referred to the concept of going paperless and reaching a business maturity that affects every segment of the society including science, government, mass communication, and healthcare.
Furthermore, digital transformation is a complete reinvention of an organization using social media, mobility analytics, and other digital technologies to improve the way it performs and serves its elements. According to a research firm, Progressive Markets, the recent growth of the digital transformation market is majorly due to increased demand for artificial intelligence (AI) devices and several innovations in digitalization.
AI, machine learning, and data analytics
Today, AI has become the buzzword for every industry worldwide. In fact, people are not just using AI-based products, but are sharing information back and forth to help AI understand pattern and behaviors.
Research states that we have generated about 90% of the world’s data in last year, however, we are using only 1% of it effectively. Thus, there is a huge scope for AI-driven applications to satisfy user expectations that come along with digital transformation. Furthermore, tech giants such as Microsoft have barely scratched a surface in the data mining. Thus, in the future, data analytics and AI could offer endless opportunities for sure.
Blockchain: not for cryptocurrency but for business
With the launch of bitcoin, the world familiarized itself with the concept of the blockchain. Today, researchers have realized that the blockchain has more applications apart from virtual currency. Though the future of bitcoin seems uncertain, there is no stopping for companies from implementing blockchain in their ecosystems. The major applications that blockchain can easily offer are trackability and data preservation. Although blockchain in business is still in its infancy, the recent developments in technology would prove that blockchain is here to stay and companies would figure out a way to incorporate it into their business module.
“Edge” of Fog computing
Complete cloud connectivity is the only way for a sustainable digital transformation as the only cloud can offer the required scale and speed to the IT industry. Thus, organizations across the globe are moving their workload and applications to the cloud.
Furthermore, over the last few years, flog computing is gaining traction to bring analytics computing power to the edge of the network. This enables more efficient use of the network and an ability to recognize patterns and trends fasters.
With the increasing demand for smart drones, AI-powered smart devices, and autonomous vehicles, there is a dire need for faster communication and sending data all the way to the cloud, which can be a tedious task. On the other hand, fog computing has offered a faster way of communication.
For instance, with the help of fog computing, a smart door won’t just post a picture of a guest, but just the name of the guest to save time and increase the efficiency of the device.
Get going with 5G
To offer constant connectivity to the people on the move, mobile networks must be upgraded. There was a lot of fuss about the quick speed of the next generation of 5G connectivity, which would arrive over the next year or two. Along with the tech giants such as Intel, Qualcomm, Ericsson, and Huawei, new startups such as Mimosa Networks have invested a huge sum of money to roll out 5G.
Thus, it is safe to say that the upcoming years will bring several 5G mobile applications. For instance, Vivo, the Chinese handset maker, announced that it has developed a 5G-enabled smartphone using Qualcomm X50 modem, which may make Vivo the only smartphone manufacturer in the market to offer the 5G-enabled device to masses. Thus, to go toe to toe with Vivo, big companies such as Apple are expected to launch their products in the coming years.
With the ever-changing demand of consumers, the trends in the digital transformation are bound to change. However, for now, the future is little foggy, and it is difficult to foresee what’s in it for us, but one thing is certain that the advanced digital applications would revolutionize the current lifestyle and ecosystem of every industry. Till then, fasten your seat belt and get ready for a complete digital transformation.
Sharmistha Sarkar has always had a keen interest in reading and writing. Though an engineering graduate, she forayed into the field of writing due to her love for words and the urge to do something different. Progressive Market Research has given her the chance to gain knowledge about different subjects as a senior content writer.