40% of all technology spending will go toward digital transformation, with enterprises spending in excess of $2 trillion by 2019.State of the CIO by Beth Stackpole
Companies are increasingly launching initiatives that expand their digital capabilities and deliver business efficiency as well as increase their top-line revenue. As more and more digital transformation success stories emerge, the trend is rapidly gaining traction.
Digital companies generate better gross margins, better earnings and better net income than organisations in the bottom quarter of digital adopters. Leaders post a three-year average gross margin of 55%, compared to just 37% for digital laggards.‘Digital laggards’ must harness data or get left behind by Clint Boulton
Below are the top 5 trends of Digital Transformation that I see continuing to emerge throughout 2019 and beyond. Organisations have already begun the digital transformation journey to differentiate themselves and stay ahead of the competition. Cloud computing is just one of the initiatives that have taken off over recent years to allow for enhanced power, speed and scalability across the enterprise, however, as this is already a more than established trend, it will not be in the list below.
Top 5 Trends of Digital Transformation for 2019
AI & Machine Learning
Artificial Intelligence (AI) and Machine Learning (ML) platforms are becoming increasingly embedded into enterprises and their internal systems in order to drive intelligent business operations. 2019 will be a crucial year for AI & Machine Learning, which is globally recognised as a key component of digital transformation. In fact, it will be responsible for an estimated $58 billion of investments by the end of 2021.
Internet of Things (IoT)
The Internet of Things is one of the crucial digital transformation technologies moving into 2019. The plethora of devices that are predicted to join the already vast IoT is astounding.
The IoT encapsulates not only devices but an ecosystem of technologies and the value surrounding them. A significant part of which is data, how we capture it utilising IoT, and how we then transition this data into knowledge, i.e. Actionable intelligence. IoT is an ever-increasing beast that will continue to act as a cornerstone of the digital transformation journey moving forward.
Robotic Process Automation
Robotic Process Automation, otherwise known as RPA is the use of software (robots) that can interpret existing work processes and automate them. RPA is integral to a number of digital transformation strategies and is often one of the initial stepping stones on the DT journey.
RPA digitalises manual repetitive tasks, often based on predefined rulesets, which in hand removes the need for human intervention throughout common business processes. This has provided huge value to enterprises already by speeding up time-consuming activities and eliminating human error.
Big Data & Analytics
With the ever increasing landscape of the internet and social media, we will continue to see the complexity and importance of data grow. Big Data & Analytics remains a key component of digital transformation, with data now widely considered to be a top commodity, organisations continue to invest heavily in the gathering, creating and analysis of data.
Organisations are increasingly opting to make data-driven decisions. Data provides a huge amount of value to enterprises, for example, in robotic process automation data can provide key insights as to when systems or machines will fail and automate known fixes.
Unified tooling aims to provide a single pane of glass for users to interact with their enterprise applications on a daily basis, rather than operating multiple enterprise systems to complete digital tasks. Customer and end user experience is a growing trend for the enterprise in 2019, ensuring that users have access to a consumer-grade experience throughout their working day is crucial.
The benefits of unified tooling to large companies are becoming increasingly noticeable. With end users enjoying a consumer-grade workspace that centralises all of their enterprise platforms, employees are able to work much more efficiently. Bringing communications into the unified system further supports this, reducing the need to send messages via increasingly outdated emails.
Customers, culture and employees and business continuity are all at the heart of technology investment and digital transformation successes.Top 10 Digital Transformation Trends to Expect in 2019 – The Parallel Universe
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Utilising an intuitive two-way integration system, Heed updates connected applications in real-time, providing complete visibility of ongoing business processes. As users instigate and react to digital activities, Heed automatically sends omni-channel communications to relevant user groups and allows them to take action from directly within the notification.
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