Join us as we examine the top trends for digital transformation that you need to know. Let’s find out more.
New demands and advances in technology mean the digital transformation space is changing faster than ever. Here are five trends we think you need to look out for.
1 – Generative AI
When we talk about new technologies, most of the time it’s about AI and machine learning. The more you use machine learning tech, the more accurate it becomes, so it’s no surprise more industries have realised its potential.
Generative Artificial Intelligence is the name given to machine learning tech that analyses existing content or objects’ data and uses that data to create new, original content or objects. In the design space, this tech means engineers can expand on new ideas extremely quickly and work more creatively to solve problems.
We’re already seeing it in the automotive industry. Expect it to infiltrate more areas and shape more products throughout the year.
2 – More investment in digital transformation
One of the rules of thumb in digital transformation is that you get out what you put in. When having second thoughts on investing, the companies that reap the biggest rewards from digital transformation are the ones that put in the most significant investments. According to research from McKinsey, the top-performing decile of companies were the ones who invested the most in tech, leadership, resources and talent.
Throughout the year you can expect the largest companies to carry on investing the most as they try to gain an edge over their competitors. You should also expect digital transformation to become even more of a company-wide initiative.
3 – Enhancements to the employee experience
If 2020 and 2021 were the years of working from home, companies have come to realise that they can’t put the genie back in the bottle. To keep hold of their top talent (and attract the next generation of high-performers), companies now have to offer flexible, hybrid working.
Of course, digital technology makes it all possible, even in industries where it’s hard to imagine functioning in this way. For example, augmented reality solutions can help with sales coaching, machine maintenance, even training pilots in the US Air Force.
4 – Greater focus on narrower areas
One of the issues companies have faced when trying to implement digital transformation is that they don’t know where to start. Then, they try to do too much and solve too many problems and their initiatives fail to scale.
It’s hopeful that more companies will realise that they can find success by niching down with their digital transformation. If they identify which problems are the most pressing and will deliver the most significant advantages if solved, they can then invest in digital transformation with more confidence and execute with precision.
5 – The SaaS revolution continues
Technology is advancing quickly. In fact, it’s too fast for some leaders. Many companies are wary of investing large amounts in digital transformation only to find it obsolete in a small amount of time.
The advantage of cloud-based SaaS solutions is that they’re easier to upgrade than on-site solutions. They’re also lower in cost and fast to scale. In the future, we hope SaaS solutions that innovate on the fly will become even more valuable.
Industry 4.0 is a real-time approach to decision-making, enabled by integrated and reliable data. Are you interested in learning more about digital transformation in manufacturing? Download the eBook below to learn more.