As technology continues to advance, so does the rate of digital transformation among growing businesses.
Companies that leverage technology to automate their workflows gain a significant edge over their competitors. They are able to increase their productivity and drive down operational costs, maximizing their ROI.
In short, digital transformation makes rapid growth more attainable.
Many business owners are looking to the future, wondering what digital transformation trends will emerge. We’ve created a list of the ones that will likely continue to gain momentum in 2018.
Artificial Intelligence (AI)
AI is the technology behind advanced automation. It encompasses things like machine learning, cognitive computing, and more. It essentially allows computer systems to learn from data batches and past mistakes to adapt and fine-tune their operations automatically. With it, optimization opportunities are endless and innovation is inevitable.
“The aim of artificial intelligence is to have machines learn and deduct mass amounts of individual and collective data –and process through it quicker than a human brain would– to give the user a truly personalized response.” – Forbes
Arguably the most common example of AI in action is IBM’s Watson. This tool uses AI to help users to build customer service chatbots analyze content, translate natural language, and predict personality characteristics via text.
The Internet of Things (IoT)
Since its inception, the IoT has revolutionized the business world. It enables companies to automate, monitor, and improve their processes. And it simplifies the transfer and analysis of data.
For example, IoT automation enables manufacturing companies to reduce the number of employees they need to maintain asset production.
“The industrial IoT market is estimated to reach $123.89 billion by 2021.” – IndustryARC
Another major advantage of IoT is that it allows businesses to more easily provide customer support. For instance, Tesla recently began implementing “over the air” auto upgrades, allowing the luxury electric car owners to easily keep their firmware up-to-date.
Expect IoT to expand as different industries find innovative ways to take advantage of its capabilities.
Robotic Process Automation (RPA)
Data collection and analysis is the key to process optimization, and the latest approach is leveraging robotic process automation (RPA). In data analytics, RPA is a software configuration that quickly captures and interpret information.
Using this technology, business owners can easily identify bottlenecks and make fact-based decisions on how to improve processes and develop innovative solutions.
“47% of businesses are currently using big data tools to predict customer behavior.” – IDG
Uber currently uses RPA to more accurately calculate surge pricing and identify unsatisfactory drivers. Manufacturing firms are also leveraging it to receive supply chain analytics in real time and easily identify changes in product demand.
Adopting digital transformation trends.
Digital transformation is going to continue innovating the way business is done. As technology continues to advance, the number of ways to leverage AI, IoT, and RPA will increase. And the number of organizations harnessing the technology to increase productivity and decrease their human workforce will grow.
If you’re interested in learning more about how you can digitally transform your business, reach out. With so many applications available to improve results, our goal is to help you find the ones that work best for your organization.