Digital transformation remains at the top of ambitious CIOs’ minds. Leveraging advanced technology to improve operations and reduce costs is imperative to remain competitive. Enterprises are adopting technologies such as Artificial Intelligence (AI), Robotic Process Automation (RPA), Internet of Things (IoT), and others. Digital transformation enables businesses to perform many difficult and time-consuming tasks with ease.
The digital transformation market size will grow to $1.2 trillion by 2026. - Research and Markets
With new ways of performing operations coming out all the time, it is essential to keep up with the latest technology trends. Let’s discuss some of the top digital transformation trends for business and you can decide which one suits your business the best.
Hyperautomation is a popular approach that identifies business and IT processes to integrate automation and help organizations simplify remote operations and enhance scalability. Some of its initiatives include:
Robotic Automation Process (RPA)
- Automates repetitive, time-consuming tasks using RPA bots
- Reduces cost, boosts efficiency, and increases scalability
- Consolidates and gathers data
- Enables end-to-end automation
- Allows users with little to no coding experience to build software applications
- Integrates APIs without the need for experienced developers
73% of organizations globally are leveraging automation technologies like RPA, machine learning, and natural language processing. - Deloitte
2. Generative AI
Generative AI is a division of artificial intelligence that leverages existing data such as text, audio, video, and images to generate innovative new content which can be similar to the original content but not repetitive. One of the best examples of Generative AI is the popular face apps that require user images as input and it shows how a user would look in different age groups.
- Many companies are using generative AI to improve the design industry. Generative AI design software requires a few inputs such as raw materials, types of manufacturing methods, cost constraints, size, or the weight of the products. Once all inputs are given, the software allows engineers to test different types of designs against various manufacturing scenarios.
3. Data Fabric
Data fabric is a unified data structure that enables flexible integration of data sources across different platforms and business users, making data available everywhere. Using analytics, it learns and makes recommendations to reduce data management efforts and improve the productivity of data teams. Once data experts are satisfied with the automated corrections, they hand over the entire work to the data fabric and focus on other core tasks.
The global data fabric market is expected to grow to $4.2 billion by 2026. - Markets and Markets
4. Total Experience
Total-experience (TX) is an innovative business strategy that combines employee experience (EX), customer experience (CX), user experience (UX), and multi-experience (MX) to create shared experiences and accelerate growth. TX aims to improve the user experience for both employees and customers and the UX are connected by special features. TX helps shape the quality reputation of an organization and affects overall service quality.
According to Gartner, 60% of large enterprises will use total experience by 2026 to transform their business and achieve employee and customer advocate levels.
5. Everything as a Service (XAAS)
After the introduction of multiple services, Everything-as-a-Service is the latest digital transformation trend promoting the “as-a-service” model and offering both products and services in a single package. It goes beyond the conventional service models such as SaaS, PaaS, and IaaS and aims to deliver everything to the customers including:
- Storage as a Service (STaaS)
- Containers as a Service (CaaS)
- Function as a Service (FaaS)
- Security as a Service (SaaS)
- Video as a Service (VaaS) and many more
6. Data Democratization
Data democratization is the theory of opening data to everyone to analyze it and map out insights. Low-Code tools push the idea of data democratization. Its complete utilization can bring functional benefits such as improved customer efficiency, better customer experience, and identifying customer intent.
7. Software 2.0
Software 2.0 is one of the newest digital transformation technologies that has captured the idea that machine learning should be used to generate code. This technology automatically creates code using deep learning that helps build neural networks for automating code drafting.
8. Zero-Trust Security
With the growing remote work culture, the risks of cyberattacks have increased too and so, organizations are migrating to a zero-trust security model that is cloud-based. Zero-trust security solutions make communication easy while securing applications, data, networks, and infrastructure.
Zero Trust is a security model based on the principle of maintaining strict access controls and not trusting anyone by default, even those already inside the network perimeter. — CloudFlare