This era is marked by the rapid progression of Digital Transformation in almost all sectors. It has resulted in a widespread change in customers perspectives and expectations, making it a vital component of a business organization. Therefore, it stresses the need of integrating digital transformation and technology into your business to meet the customer's expectation and increase the overall outcome of the production processes.
Digital Business innovation and transformation saves a lot of time, increases efficiency with which an organization works, brings in innovation and engages a more extensive customer base. So, we have mentioned top technologies that can drive digital transformation in business -
Artificial intelligence is superiorly pacing and establishing its roots in the modern world. The biggest examples of AI involve the current market biggies like Alexa.
AI can be used to further personalize the customer's overall experience and reduce the burden on the employees. The increased use of AI technology leads to more accurate recommendations and a personalized experience.
Since the pandemic has brought in the trend of work from home, the majority of video streaming apps have enabled businesses to carry out their meetings and operations remotely while staying connected.
Digital Transformation Technologies have facilitated the work on a global platform with their outstanding video conferencing systems. The major apps that grew in popularity during a pandemic are Zoom, Webex, MS Teams, etc.
The recent years have experienced the use of VR and AR systems in the majority of business operations. Remote Assistance, AR indoor navigation, eye tracking, and many other features have proven to be highly useful for businesses worldwide. They have taken digital transformation to a whole new level by personalizing the shopping experience and improving the online shopping business through their 3D technology.
Any business organization can carry out their production activities quickly and effectively by the use of robotics technology. This kind of digital business innovation and transformation has become a potential solution for manpower shortage in the near future. It also significantly helps in carrying out the operation of the supply chain in full swing. Though businesses need a huge amount of capital to fully integrate robotics technology, its potential advantages are numerous, leading to increased usage.
Composite Architecture is a major game-changer among the various digital transformation technologies driving the business world. The primary concept of composite architecture is to respond to the changing business needs rapidly. Built upon a flexible fabric, it is packed with business capabilities and can easily be tracked and is decentralized.
You receive both tangible and intangible benefits from the technological transformation of a business organization. The surmounted importance of technical integration is focused upon increased security, research capacity and business relationships. Not only this, but it has left a significant mark over the increased efficiency of employees and an organization as a whole.
Companies have spent more than $3 trillion on digital transformation since 2019, and there are more than 70% of companies globally working to incorporate digital technology into their everyday work routine. The statistics reflect the importance of digital transformation in business.
Realizing the importance, many educational institutions have started offering industry-centric curriculum to produce professionals. MIT ID is one such elite institution dedicated to imparting academic excellence with holistic development.
A product is introduced in the market when an organization assesses a gap between the needs of the consumer and the market that they can fill. Although businesses want to get the maximum profit from these products or services, the primary focus remains on providing goods or services to meet the customer’s demands and resolve their issues.
Rapid development, change, innovation, and disruption characterize the digital economy. Those stages are vital, but they aren't the end-all solution. Companies that wish to stay ahead of the curve must adapt to the new digital world. On the other hand, a digital transformation includes more than just deploying new technology or enhancing old processes. You can't merely react to changes if you want to stay competitive; you must foresee them and drive innovation yourself. Companies must plan and be active creators of their future to achieve success. In fact, a digital transformation strategy can help with this.
In a world of high competition and with changes that come fast, innovation is the watchword for companies that want to remain competitive. However, the intrinsic costs of this activity often end up preventing its implementation, which can hamper the company's future.
MIT ID Innovation Programme curates knowledge and experiences that challenge the very paradigm of evolution. And that's why we have set out to define the future of industries, communities, cities and ecosystems.
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