Digital transformation: The final frontier? digitaltrends Aug 10, 2018 digital transformation: The final frontier? What will the digital transformation of businesses and society look like by 2038? These are some of the questions that have cropped up as part of a new white paper on digital transformation published this week. Here is an overview of the highlights from the report, including new challenges and opportunities.
What is digital transformation?
Digital transformation is the ability of digital technologies to change products, services, and people’s ideas and expectations about the past, present, and future. It encompasses the ability of new technologies to change the way we work, think, and create and understand new ways of making and sharing information. Digital transformation can be implemented either in the short and long term, and it can have a massive impact on the way businesses operate, brand image, and the customer experience.
The digital transformation of businesses and society
Businesses are already exploring ways to digitalize their operations. For example, companies are using digital transformation tools to create digital days and digital weeks. Customers are increasingly relying on digital transformation to stay ahead of the competition in a digital world. For example, 77% of global customers believe that digital transformation will be a key factor in choosing a specific brand or product, according to a study. And, more than two-thirds of customers expect their employer to be digitalizing efforts during their supply chain planning process. Overall, these customers expect businesses to be digitalizing more frequently.
New challenges in digital transformation
Businesses face a number of challenges in digital transformation that need to be solved before the transformation is completed. These challenges include cost, scalability, scalability in the short term, speed of transformation, usability, and security.
Digital transformation opportunities for software development
The transformation of business processes to digital models has obvious benefits. The ability to create digital experiences for customers and employees hails from a transformation to a new business model. It enables businesses to increase the value created by their existing products and services by adding value to customers and giving employees new work experiences. It can also significantly increase employee engagement, satisfaction, and productivity.
Benefits of blockchain
Billionaire Tim Draper, co-founder and Chief Technology Officer of Draper Fisher Jurvetson, has called blockchain a “new and emerging disruptive technology that is changing the way businesses interact with the internet, digital identities, and the blockchain.” It is important to note, though, that the technology that underlies blockchain is not new. It is a modern-day version of the traditional digital storage and distribution systems used in business publishing and payment systems. The technology has been in use since the 1980’s, and it has been implemented in digital publishing, healthcare, financial services, and more.
Digital transformation is a constantly evolving challenge that has enormous potential to disrupt industries and change the way companies do business. As such, the demand for new digital disruption technologies is increasing, and it is essential for organizations to have a clear strategy for how to respond to the challenges and opportunities that exist in the digital transformation space. In this article, we’ve collected 10 of the most impactful digital transformation stories from 2017, and we hope you enjoy reading them as much as we do. We hope this list helps you understand the ongoing transformation challenge and what can be done about it.