Many businesses were forced to close their doors due to the pandemic that had struck the entire world. The crisis allowed rapid technology adoption and accelerated digitization across industries. To deliver value to customers, increase business growth, and productivity, companies began to leverage disruptive technologies.
Businesses built a digital presence in order to reach their customers, as consumers are increasingly moving to online platforms due to pandemic-induced restrictions. Digital transformation is a promising year for technology integration and the changing business landscape. Let’s take a look at the top 10 trends shaping the digital transformation of businesses in 2021.
Digital is now a normal part of modern life and many businesses strive to operate from home and other remote locations.5GThis technology was already highly praised last year, and it will continue to gain prominence in the coming years.
5G network 5G can offer unprecedented speed and connectivity to meet the growing demand for reliable and high-speed connectivity. 5G will become mainstream and enable IoT connectivity that improves user experience, digital collaboration, as well as accelerate digital transformation.
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Blockchain has seen rapid adoption in technology over the last year. While blockchain was initially adopted by cryptocurrency in the past, it is now being used in many other industries, including financial institutions.
India recently appointed a panel to explore the potential of blockchain and expand its use in various industries. Blockchain will become more mainstream and important in cybersecurity over the next few years.
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Cybersecurity was more important than ever after the pandemic of attacks that hit several companies within a relatively short period. There was a demand for more vigilant and better security measures since most companies moved to remote work.
Strong cybersecurity practices are a top priority for businesses going through digital change and those who plan to adopt them. Digital transformation must happen at the same pace as a company’s security strategy and infrastructure.
With rapid digitalization, the financial and banking sectors were among the most affected. Many of these services moved online and started digital payments. They also used online credit applications processes.
They are working to improve the digital user experience by implementing digital transformation. In the coming years, we will see an increase in open banking initiatives and digital banking. The financial sector’s transformation will be reshaped by digital payments and digital banking.
Today’s customer-centric business models are powered by data. Without a solid infrastructure, it can be difficult to gather and manage data. These are the Customer Data Platforms or CDPs. CDPs gather data from all sources and organize, tag, and make it usable.
Businesses often don’t make the most of today’s data, despite having a lot of it. Data analytics is a key ingredient in boosting growth and efficiency. These factors will enable and revolutionize digital transformation.
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Businesses are moving to the cloud and it is important to be aware of the rise in multi-cloud systems. It will eliminate common obstacles providers face as well as vendor lock-ins. This year, multi-cloud and hybrid clouds systems will thrive and help shape the future of business.
Multi-cloud allows users to share cloud computing assets, software, or applications across multiple cloud platforms. They can also use multiple public and private cloud infrastructures.
Google recently announced it would develop a commercial-grade, error-free quantum computer in a matter of ten years. While quantum computing is still not fully commercialized, it has become an important research topic. In the future, many industries will be exploring quantum computing to improve digital transformation.
The business ecosystem has begun to recognize the importance of Everything as a service or XaaS. It’s a generic term that describes cloud service delivery models. It recognizes all products and services on the internet.
This can make technology deployments easier and companies can use the services quickly. The XaaS model is flexible and can be used by businesses to accelerate digital transformation.
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Offices have been working remotely and from home since the pandemic. Many studies and surveys suggest that remote work is a viable option. Remote work has been recognized by companies and has led to an acceleration in digital transformation. Smart technologies and innovations will continue to grow to meet the needs of the “work from home” population.
The pace of digital transformation can be accelerated by automation. Businesses will focus in the years ahead on automating processes and ERP. Many companies needed to adopt automation in order to survive the pandemic.
Automation has been the heart of digital transformation. It will be possible to automate Enterprise Resource Planning models to facilitate growth and agility with the integration of AI, machine learning and robotics into businesses.
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