The Top Trends in Digital Transformation to Look For in 2020
Published March 04,2020 4 weeks ago Posted By Justinas DanisReading Time: 4 minutes
When the history of digital transformation is written, 2019 occupies a significant place as being the landmark year with major innovations.
As Bitcoin gained importance, a technology that influences blockchain would start attracting more.
One thing that is constant in business is change. And this has gained momentum in recent years. Most businesses are transforming into the digital mode and adding to the ROI. Call it AI or IoT or blockchain, new digital technologies are impacting business in huge ways and this will continue to grow in 2020. And no business can ignore this trend.
As per the study by 2016 Harvard Business School, found that firms who embraced digitalization witnessed an average growth of 55% in gross margin within three years in comparison to companies who didn’t embrace digital transformation and had a low margin growth of just 37% during the same time.
Here Are The Top Five Trends That Every Company Must Know
- IoT is Essential for Digital Growth
An early prediction says that the world has 27 billion IoT devices 2019 which is supposed to grow to 75 billion by 2025.
IoT technology is growing and technologies like 5G, advanced analytics, tech sensor, and edge computing, are also gaining importance. With a huge data pool from smart devices, companies are working around machine learning and AI to make use of the data to make sense of them. As companies would use the output of data interpretation, communication firms must develop networks that will use the data effectively and therefore there is a rush to build a 5G network.
And with IoT devices available, firms can fast use the data and grow in their venture with the advantage of computer applications.
- Emphasis is on Speed
There was always competition between customers, skilled workers, and businesses, and in the time of the digital era there remains the competition; competition to emerge better. The competition compasses to marketing, sourcing supplies and successfully produce services and products and therefore helps in scaling of a company. And the said all, needs fast processing, more intelligent ways to search for information and faster methods to evaluate data and determine the relevance.
- Blockchain is Gaining an Impression
Bitcoin had its value high all the time, it is obvious that the technology that influences blockchain, would attract. A study by Deloitte found that blockchain is getting priority in their organization and is gaining significance.
Who can benefit from blockchain? Any company that needs provenience like wine, international product shipment, sneakers, digital identity authentication; payment systems for web content creators and musicians, and also creating an infrastructure for car recharging. What we mentioned now is just the fragment that can be seen.
- AI Will Continue to Grow
Artificial intelligence is increasingly gaining its significance and will continue to do so.
Currently, AI is mostly been used in consumer-facing, for instance, the. With time and improvement in technology, more AI applications will assist companies in various aspects like robotics, marketing, customer service, and analytics.
AI can help ventures to strategize business plans and marketing, collecting information, analyzing activities to access performance and be effective in many more ways to help businesses.
How good is AI for your business?
Till now, true AI is far way, businesses can take advantage of Ai based automation like machine learning for better business operation and marketing.
The mobile app developers in Lithuania, are welcoming this new trend, what about you?
- Implementation of Intelligent Data Management
The IT sector has been responsible for any kind of computing issues in an organization. Also, it was always hard to deal with the understanding and addressing IT issues because of the cost as for betterment it had to be convinced to the management that how data transfer to clouds can be effective in the long run.
Another important thing is Itops automation i.e. implementation of smart AI based systems for smooth running of tasks. In an automated NoOps computing environment, up-gradation and changes are automated and are free from human errors. And any organization that is welcoming to AI will see the benefits in the long run.
The facts are that you need a better understanding of what it is and what to expect and the management must know that it is not just putting dashboard in front of staff but to make AI an integral part of your business operation.
So here we conclude about the top 5 trends of digitalization in this current year, which you must know. It is good to see that companies are welcoming and integrating technologies and this trend is going to increase with time. The use of technologies comes with the promise of saving time and thoughtful investment in the long run. Chatbots, AI and IoT sound interesting and so also getting yourself digitalized.
What you are thinking? If you have not yet considered doing, 2020 will be the right time to start with.