Digital transformation is a reality, fast embraced by industries across the world. This adoption of disruptive technologies is primarily a reaction to the pandemic induced crisis. Digital Transformation is the most powerful way to ensure growth and productivity in today’s new and changing business world.
Let us see the top 10 Digital Transformation trends that will shape the future of business.
1. 5G to be the New Normal
With businesses struggling to survive by managing from home or remotely, 5G is fast becoming indispensable. 5G caters to the rising demand for greater bandwidth and stable connectivity by providing extremely high speed. Once 5G becomes mainstream, it will ensure faster IoT connectivity and improve user experience. Moreover, it will also enable digital collaboration, thereby augmenting digital transformation.
2. Blockchain to see Growth
Ever since the pandemic hit the world, blockchain has established its utility with renewed vigour. Once limited to crypto-currency, a cross-section of industries, including financial, real estate and healthcare, has started embracing blockchain. Security experts expect blockchain to play a pivotal role in cybersecurity.
3. Focus on Cybersecurity
The pandemic witnessed a plethora of cyber security attacks on several business enterprises. Work from home or remote working culture also raised the demand for better and vigilant security measures. Companies undergoing DT or those planning it are fast prioritising stringent cyber security measures. According to industry experts, DT must go hand in hand with the company’s security strategies and infrastructure.
4. Digital Banking to Thrive
Digitisation started with the banking and financial sector. Such services went digital by offering online payment, digital credit and loan applications, and many such online services. These sectors are moving towards further digitisation. It will facilitate more excellent online banking services and open banking options.
5. Customer Data Platforms to see Growth
With businesses going more and more customer-centric, data is emerging as the new fuel. That said, accumulating and analysing information needs robust infrastructure. It is where Customer Data Platforms or CDPs will play a vital role, thereby revolutionising Digital Transformation. CDPs can successfully collect, arrange, tag and analyse data. With the immense amount of data available, data analytics can determine business growth and efficiency.
6. Triumph of Multi-Cloud
More and more businesses moving to the cloud has resulted in the growth of multi-cloud and hybrid cloud. You can distribute cloud computing assets, software, and applications across diverse cloud platforms with multi-cloud. Such systems will thrive and potentially influence business transformation.
7. Mainstreaming Quantum Computing
According to media reports, Google is going to create a commercial-grade error-free quantum computer. It is a fact that presently quantum computing is just an important research topic. Its commercial application is still a distant dream. However, soon industries across the globe are expected to explore quantum computing to augment Digital Transformation.
8. XaaS and Digital Transformation
Businesses have already started regarding XaaS (Anything as a Service) cloud service delivery models as highly important. It recognises all existing products and services on the Internet. Moreover, it is capable of simplifying tech deployments. Once services get quick access, companies could rapidly employ XaaS. It will enhance agility and streamline Digital Transformation.
9. Remote Work to Stay
Remote working, which started during the pandemic, is here to stay. According to the latest studies, businesses have understood the benefits of remote working, leading to faster Digital Transformation. More innovations and intelligent technologies will meet the demands of remote-working culture.
10. Automation at the Core
In the last few months, many businesses adopted automation to stay afloat in the market. With AI, machine learning, and robotics, automation is fast becoming the nub of Digital Transformation. Digital Transformation is accelerated by automation, and soon, organisations will prioritise automating their processes and ERPs. These digital innovations will help to automate the Enterprise Resource Planning model. It will ensure further growth and agility in business.