Due to the onset of the digital era, digital transformation has become highly popular. But what is digital transformation technology? To some, it means implementing technologies such as artificial intelligence, while to others, it may mean automation. It is a broad field. In this blog, we’ll learn about the commonly used digital transformation technologies.
- What is Digital Transformation?
- Why is it important?
- Commonly used digital transformation technologies
What Is Digital Transformation?
The process of integrating digital technologies into company operations to fundamentally change the way firms operate is known as digital transformation.
What is the goal of this transformation? The goal of digital transformation technology is to provide outstanding value to customers rather than only to use cutting-edge technology. Digital transformation’s ally is digitization.
It’s sometimes a required step since, to deliver greater value to the people who work for a company, it’s important to rewrite old business procedures and build a new system. Finding new chances in an existing firm to change the way it operates is what digital transformation is all about. To learn more, you can also take up the NUS Digital Transformation Program and upskill to explore new possibilities through technology.
Why is Digital Transformation Important?
There are numerous responses to this question, but the most essential is that it is critical for business survival.
Digital transformation is the engine that propels companies into the future. Customer behavior changes as time passes and new technologies are introduced, and customer satisfaction is at the heart of all organizations today. As a result, embracing digital transformation is critical for delivering excellent client experiences.
Not only that, but digital transformation technologies enable firms to embrace innovation and increase their productivity. It allows them to make smarter judgments, build commercial ties, and help a company take a safe flight into the future.
Commonly used digital transformation technologies
The year 2020 has been a lucky one for digital transformation. Businesses that had been considering digital transformation plans for years finally saw the light in 2020. The face of digital transformation has altered as a result of its rapid growth.
New digital transformation technologies are emerging today, and current technologies are strengthening—the digital transformation idea will be fully operational by 2022.
What will be the most popular digital transformation trends in 2022?
1. Real-time Analytics and Big Data
In recent years, due to the increase in the number of connected devices, data accumulation has taken place like never before. Be it in the form of structured data, unstructured data, or raw data. There is an exponential increase in data generation. If used correctly, this data can be a game-changer and provide several business insights and enable informed decision-making.
If this data is not processed correctly, it can lead to adverse effects. And this is exactly where big data comes into play. Big data analytics allows us to extract information from the large amounts of data present today. It provides tangible results and allows organizations to create digital transformation in an effective manner.
2. Augmented Reality
A well-established technology that has immense future potential augmented reality takes human-machine interaction to another level. It has seamless connectivity between the digital and the physical world. It helps in improving knowledge transfer, customer support, and productivity by paving the way for more intuitive methods of working with technology.
The manufacturing, retail, healthcare, and several other industries will reap the benefits of Augmented Reality technology as it will help in transforming analytical outcomes.
3. Internet of Things (IoT)
The Internet of Things plays a significant role in several industries. For example, IIoT or industrial internet of things helps the manufacturing industry take digital transformation to another level by helping update operations processes to ensure innovation, flexibility, and safety. IoT also plays a role in the retail industry by providing valuable insights that help in increasing customer satisfaction.
Telemedicine can be used to provide valuable information to the healthcare industry. Again, this is thanks to IoT. In an era where everyone needs to stay connected, technology plays a major role in making this possible. With the integration of 5G, there is an increase in the efficiency of IoT devices as there is faster transmission, seamless connectivity, and more bandwidth.
Blockchain is an open, distributed ledger that can rapidly and irreversibly record transactions between two parties. The technology was originally created for the digital currency Bitcoin, but the business world has discovered other possible uses for it. Blockchain applications are already being deployed in the insurance, supply chain, energy, and advertising industries, to name a few.
5. Cloud Computing
Cloud computing is an inevitable component in digital transformation technology as it provides scalability, agility, and flexibility. Traditional storage methods are not enough to handle a large amount of data in a secure and cost-effective way. This is where cloud computing will help us meet the requirements. Hybrid cloud computing has gained popularity in recent years and is predicted to be a significant digital transformation technology in the near future.
6. RPA or Robotic Process Automation
RPA can help in automating certain processes that will help in taking mundane tasks off of our shoulders. This will help in focusing on other tasks that involve our expertise. When integrated with digital transformation techniques such as AIML, RPA can generate greater value. Apart from automating repetitive tasks, it aids us in increasing our efficiency, accuracy, and speed of performing operations and empowering businesses.
Learn more about Robotic Process Automation with the help of a free online RPA Course.
7. 3D Printing
The 3-D printing procedure creates a three-dimensional product from a computer-aided design (CAD) model by layering materials on top of each other, which is why it’s also known as additive manufacturing. It is being successfully commercialized in the manufacturing, medical, industrial, and cultural sectors. Recently, 3-D printing has been utilized to generate a variety of medical goods, prosthetics, and spare components in the humanitarian and development sector.
8. Artificial Intelligence and Machine Learning
No longer a fancy technology, but one of the core technologies being used by organizations across all industries. Artificial Intelligence and Machine Learning are aiding in decision making, customized recommendations, decision making, and much more. AI helps in providing excellent analytical insights and has opened the door to a whole set of opportunities for the near future.
The healthcare, retail, automobile, IT industry, and more are already making use of AIML to improve performance. This digital transformation technology has created a positive impact on our daily lives. To upskill in this field, you can take up artificial intelligence courses and upskill today.
9. API Integration
A much-needed digital transformation, API-based integration helps in rapid development, increased access to information, reduced market time, and more. It empowers a business to drive innovation, improve user experience, and make smart data-driven decisions. One such example of a brand benefitting from API-based integration is eBay, which achieved a 60% increase in revenue.
These are the commonly used digital transformation technologies in 2022. We should keep in mind that this is an ongoing process, and with the advancement of technology, the strategy we work on will continue to evolve. Our digital transformation needs will change based on the end goals we wish to achieve as an organization.