Recognizing the significance of digital transformation and staying informed about the pivotal technologies fueling this intricate journey are vital factors within today’s fiercely competitive business environment. Companies are well aware of this imperative, which is why it’s unsurprising that they are committed to staying abreast of the advancing tools and technologies that steer digital transformation. This proactive approach allows them to seamlessly incorporate these innovations and harness the opportunities they present, gaining a strategic advantage over their rivals.
To assist businesses in their endeavor, we have thus set out to identify some of the key technologies that are powering digital transformation, and that are at the heart of such a fundamental change. And the first technologies that we will be giving appropriate attention to, are those which have completely transformed the way companies operate and deliver value, namely artificial intelligence and machine learning.
Successful digital transformation strategies would not be possible without AI and machine learning
To put it in a few words, digital transformation implies the strategic integration of digital technologies in all areas of a business, with the aim of enhancing or creating processes, improving customer and employee experience, changing business culture, and gaining a competitive advantage. Of the technologies that drive digital transformation, artificial intelligence and machine learning have distinguished themselves as those that have the potential to radically change the way companies carry out their activity and interact with their clients. In this sense, by introducing artificial intelligence technologies, businesses have been enjoying the perks of automated tasks, that, when performed manually, would typically take up much of employees’ valuable time and energy. Automation is thus a true time-saver, however, it does not represent the only application of AI that helps companies optimize processes and consequently, digitalize, for generative design also assists businesses in doing so. This innovative approach to product development and design, powered by AI technologies, allows companies to relieve their architects and designers of months of prototyping, as advanced generative algorithms can effortlessly deliver thousands of design options in no time at all. When it comes to customer experience, this too has been impacted by AI and machine learning, as the latter are often used to analyze customers’ behavior and preferences and even anticipate their actions. Companies can therefore provide tailored experiences to their clients, personalized offerings, and relevant content, which translate into increased revenue and customer loyalty.
Cloud technologies represent an important component of digital transformation
Companies that go through a digital transformation process, have learned that in order to sustain such a fundamental change, they must also upgrade their infrastructure, so that it can uphold the new capabilities that digitalization brings to the table. And to assist them in this sense, and facilitate digital transformation, businesses have been turning to cloud technologies. The latter enable companies to integrate advanced solutions, such as those surrounding artificial intelligence, the internet of things, or big data analytics, that require significant storage space and computational power, for cloud technologies can successfully address these requirements. In this regard, cloud platforms manage to offer the flexibility and scalability that companies wishing to digitalize are in need of, along with the ability to effortlessly adjust to market trends and customer demands.
The internet of things, a driving force behind digital transformation
Another technology that is driving digital transformation, is the internet of things. This disruptive concept, that refers to a network of physical objects, equipped with special software and sensors, through which they can communicate and exchange data over the internet, provides companies with growth opportunities and helps them develop new products and deliver new services, that cater to customers’ demands. So, how does IoT manage to assist businesses do all this? Well, the significant amounts of data that IoT devices generate, are analyzed and turned into valuable insights into clients’ behavior, enabling companies to adjust their offering or create new products, that meet their customers’ expectations. Going forward, the internet of things can help businesses streamline and improve their operations, while also reducing costs, thanks to sensor-integrated systems and the access to real-time data.
Digital transformation is an intricate process, however, companies have no other choice than to embrace change and adopt superior tools and technologies, that can help them maintain relevancy and remain competitive on the market. Artificial intelligence, machine learning, cloud computing, and the internet of things, are some of the key technologies that are powering digital transformation, therefore businesses looking to succeed in today’s dynamic digital environment, should keep an eye on what these innovative technologies have to offer, and use them to their advantage, before their rivals do.