COVID-19 AND DIGITAL TRANSFORMATION
What is Digital Transformation?
Digital transformation is the integration of computer-based technologies with an organization's products, processes, and strategies. In simple words, it changes the way you operate and deliver your organization's values to the customers. Today, organizations adopt digital transformation to improve engagement with their workforce and service to their customers which enables them to be leading companies.
It is vital to realize that digital transformation is driven by the rapid adoption of technology in an organization. It is about the pace of change. Do the business willing to invest to change for a better operation and value delivery? Digital transformation can help improve your businesses. It allows an organization to be more productive and efficient with the assistance of technology.
How did COVID-19 lead to Digital Transformation?
Despite the economic crisis induced by the COVID-19 pandemic, global spending on digital transformation reached 1.3 trillion US dollars in 2020, up 10.4% year on year. It is undeniable that COVID-19 is the factor business nowadays adopt digital transformation more quickly than predicted. Here are the reasons why :
Higher customers' needs and expectations
After the pandemic happened, the customers start to change their preferences. Customers' expectations started to increase and this requires the business to meet or go beyond their expectations.
For example, food delivery services are in-demand and the customer will get furious if their order suddenly got canceled or any unexpected mistakes happen. Thus, the company needs to be well-prepared to provide high-quality services to its customers. The way you interact with your customers and fix their issues will determine whether they stay with you or search for your replacement.
Apply technologies in operation
During the beginning of the pandemic, the businesses cannot help but includes even a slight technology adoption during operation or services. The most notable action is the work-from-home culture that urges people to hold online conferences or online meetings.
This brought them to the demand for 5G technology solutions for cellular networks as it provides the main advantage of greater bandwidth and faster download speeds. Another new technology adoption that can easily be found is face detection and temperature check for check-in purposes which include AI technology.
Investment in data security
As digital transformation started to gain attraction among the organization, people are worried about the security of their data. This requires the organization to invest more in cybersecurity. For this issue, AI will be the best candidate to develop secure applications and reduce the number of breaches in the industry. This effort will help to convince the organization to embrace digital transformation confidently.
Executives who are thinking ahead must not only acknowledge that AI is coming to a business near them soon, but also evaluate how it will affect them. In the future, AI will be as similar to how social media can be used by any business.
Businesses today need to explore ways to generate competitive advantages among each other. Digital transformation could be one of your solutions to stay relevant in the market. However, COVID-19 speeded the race toward digital acceleration and forced organizations and institutions to apply digital transformation in their operation.
So, are you in an organization that embraced digital transformation? No? Then you might need it as a catalyst to move towards changes and compete in this fast-paced market place.
Have a lot of data but don't know how to leverage the most out of it?
Need AI solutions for your business?
Have a Machine Learning model but don't know how to deploy?
We provide a NO CODE End-to-end data science platform for you.