digital_transformation

Digital Transformation

Digital transformation is the process of using digital technologies to create new — or modify existing — business processes, culture, and customer experiences to meet changing business and market requirements.

The forthcoming age of Artificial Intelligence ushers in technological advances as low-cost data storage, computing power, deep learning, mobility, and robotics means that an enormous number of business processes will be automated in the next few years. These very real technological possibilities are creating huge amounts of business value and disruption today. They are already driving new customer engagement and growth opportunities, radical cost efficiency opportunities, and fundamentally new business models.

The following aspects are quintessential

Value will be determined more by the number and quality of customer relationships than the number and size of product or service transactions.

Many new jobs will be created for people to design augmented and automated processes and continuously improve them. Over time, we expect to see a shift from processes operated by humans to processes designed and audited by humans.

Many core company processes, technology, data, and thus governance and operating structures, will need to become end-to-end and centralized and, for some, globalized

To fully capture the benefits of AI and learning, and to make the economics of investing in technology work, companies need to be smart about how to build their data and digital platforms in light of their legacy systems.