Five Future and Five Fading Trends in Digital Transformation
The past couple of years have seen an uptick among businesses embarking on digital transformation journeys as companies have come to realize the need to have a digital-ready culture both to build resilience and to thrive even in the middle of unexpected disruptions like the COVID-19 pandemic.
This acceleration of these digital transformation endeavors across all enterprises has also brought about massive changes to the process itself. And as the world is beginning to open up more in the midst of this “new normal”, we are beginning to see some trends that may shape the future of digital transformations, as well as some that are becoming obsolete in the wake of these changes. Here are five future and five fading trends to watch out for.
Future: A focus on resiliency and sustainability
The pandemic taught many businesses to be prepared for seismic shifts in the market dynamics and consumer needs. As such, businesses will focus on the ability to effectively pivot and deal with change with minimal to no impact to their staff and their customers/clients. Some analysts also believe that there will be an increased focus on experimentation to predict enterprise behavior using simulated environments, providing greater insight as to how they can make their organizations more resilient.
Sustainability is another area of focus for many businesses as they have become more aware of their carbon footprint with their operations and have thus begun working on reducing it. In the process, there is a conscious effort across organizations towards a holistic transformation through digital technologies that will have an impact on society and build a purpose-led organization. Such will entail building ecosystem platforms to drive innovation, internal transformation to align with this sustainable agenda, and a greater emphasis on harnessing enterprise data and assessing stakeholder expectations in ensuring the success of their sustainability efforts.
Fading: A narrow view of cloud benefits
With what has happened over the last two years, there is no disputing anymore the importance and the benefits a cloud-based infrastructure or application provides It has been deemed as a “life-saver” for businesses that have survived and thrived during such a challenging period. It goes without saying that the very few businesses who still dismiss the benefits of the cloud stand to lose out and be left behind as those that have embraced the cloud have outpaced them in terms of growth and innovation.
Future: AI-fueled enterprise automation
Analysts have predicted that the adoption of artificial intelligence (AI) among businesses in their automation processes will continue to gain speed as the technology matures and companies face increased pressure to drive down costs, which process automation can help accomplish
Beyond production and core operations, it has been established that workflow automation will also benefit HR and recruitment departments as they can be faster and more efficient in the hiring process, finance departments in automatically updating payment records, and customer service departments in being able to respond to customer queries more quickly and efficiently.