New technologies are changing our lives, while the human-machine partnership is pushing productivity to new heights.
Digital technologies are the main driver of digital transformation and need to be acquired and utilized within business strategy guidelines to create value to customers, reduce cost and improve profitability.
New technologies are essential for innovation, agility and resiliency to the companies to be competitive and survive. Business models need to harmonize human, process, and technology to adapt to the changes in business environment to seize opportunities from digital innovations.
We identified the following technologies to have the most impact in digital transformation:
Artificial Intelligence (AI) & Machine Learning (ML)
Human-machine partnership is key for the success of digital transformation in any company. Artificial Intelligence (AI), and Machine Learning (ML), are fast progressing to expedite this partnership.
The availability of large amounts of data, and new algorithms have resulted in breakthroughs in AI and ML. AI & ML are essential for digital transformation and has found their utilization in many business applications where large amount of data is available and complex analyses are required.
Robotic Process Automation (RPA)
Robotic Process Automation (RPA) is a software technology to automate repetitive and seemingly simple administrative tasks that were previously performed by humans. It makes it easy to build, deploy, and manage software robots that emulate humans actions interacting with digital systems and software, ensure speed, reliability and consistency.
Internet of Things (IOT)
IOT describes the technologies with which physical and virtual intelligent objects are networked with one another and equipped with embedded processors and sensors to communicate via an IP network. Due to the ability of data exchange between connected objects IOT applications are called smart and intelligent.
Big Data Analytics and cloud
‘Big Data’ is huge volume of data collected from various systems, sources including emails, mobile devices, applications, databases, servers and stored in traditional databases and difficult to process via software and requires different type of techniques to evaluate them. They provide necessary data for planning sales, promotions, and marketing campaigns via meaningful, strategic adjustments to optimize costs and investments, and to improve products and services according to the customer expectations.
Cloud computing means accessing via internet to data storage, applications, networking capabilities hosted at a remote data center managed by cloud services providers by taking care of the maintenance and underlying architecture. Cloud storage allows the businesses and consumers to save their data securely, to access on-demand including back-up and recovery functionalities.
Blockchain Technology
Blockchain technology stores transactional records, called “block”, authorized by the digital signature of the owner in several databases ,called “chain”, in a network connected each other. This storage containing authenticated transactions is referred to as “digital-ledger”. Blockchain is an emerging technology with many advantages in an increasingly digital world and has been proven to provide a secure, reliable, transparent, and completely automated solution.
