“What new technology does is create new opportunities to do a job that customers want done.” - Tim O'Reilly
Future-bound technologies are proof of the adoption of digital technology today; whereby manual processes are replaced with digital ones. This growing trend of digital transformation makes businesses and services more dependable with the advantage of being more rapid, and data-driven. It also presents the possibilities of result analysis for flawless planning.
Any technology that spearheads an enterprise, providing excellent product/service delivery and economies of space, labour, and overheads is desirable. The COVID-19 scenario has only catapulted the significance of digital life and the digital extension of traditional and innovative businesses.
The takeover of digitisation in a surprisingly smooth, largely accepted, and increasingly effective manner in even commonplace daily-life transactions and interactions affirm that digital technology has grown from its earlier larger-than-life image. While the platforms of purchases and payments are increasingly identified as digital these days, companies have aligned with the customer’s habits and found competitive yet profitable possibilities of digital technology.
Digital technology without any doubt should be credited for keeping companies and customers connected in better ways than ever. The pandemic situation has immensely contributed to this change.
The work environment and work culture are major beneficiaries of digitisation. Remote-working has established itself as the new normal. This is going to stay even after COVID-19 passes. The most surprising development is the flexibility that every employer and employee has discovered in using digital tools to conduct discussions, presentations, meetings, felicitation events, fun activities, and more.
The more digital the working environment has become, the more humane it has grown. While remote working has helped achieve greater liberty and work-life balance, and hence enthusiasm in work, it has also enhanced the security aspect with a fruitful added investment in digital tools for monitoring activities and work progression.
Every business wants to be future-ready. So, every company invests more in tech applications, one or the other. It's making an impact on how it manifests its functionality and relevance in local and international scope. Smart technology implemented in ever more proactive, prudent, and successful digital solutions are becoming more essential. The increased efficiency, reach, and capacity of online connectivity are blurring, if not eliminating the boundaries for corporate functions!
Digital solutions in times of social and financial crisis, as has been during the global spread of COVID-19 pandemic, also have helped organizations find economies of scale by adapting to a new operational culture and systems to back it up. While employees feared layoffs as companies suddenly faced losses due to COVID-19, the responsible and prudent enterprises changed the way scales are balanced. They retained talents that were ready to upskill, upgrade and contribute to the company by achieving the same flexibility it opted for. With more tech muscle to lift the company’s weight of corporate affairs from working style, to team management, to sales, to the coordination of distribution, to CSR actualization, the employers found an unconventional yet effective way of playing their part in being a social safety net that was so much sought after during the pandemic crisis.
It’s a fact that to achieve scale in today’s world, and compete with other companies in today’s global scenario, digitization is inevitable. The days are coming when people are going to trust self-driven cars! They will expect drone deliveries for cookies ordered online.
With concepts like XaaS (Everything-as-a-service) and IoT (Internet of Things) in vogue, the new culture of digital nativism will soon create the need to redefine PoS for almost all businesses. The application of AI in business operations is already evidently becoming the norm. That’s why digital concepts like AIaaS (Artificial Intelligence as a Service) are creating digital solutions starting from chat-bots for customer interactions and client redressals. They are going to be among the next generation of basics for business operations. Such AI-based technologies are creating a new line of service. That includes machine learning, digital assistance, and business intelligence. They will make businesses smart, global, dynamic, productive, and highly prolific.
So, the digital transformation of businesses will be more hi-tech in the coming days, if that's how it sounds “happening” to you. The new-age technologies will transcend international boundaries. They will lead all who adopt them to new possibilities and progress. The obsoleteness of anything that cannot steer the wheels of these futuristic technologies will be very pronounced. It will be very interesting to watch how it will transform the landscape for traditional businesses. We will see how they will create new needs and spawn new operative methodologies.
Oh! And coming back to COVID-19 and its impact on 2021, the new year will be geared for revival. It will definitely push the digital lifestyle further, taking advantage of tech-based habits people are used to now. There’s no starting point as good as a habit formed. The switch to a digital life has perfectly unfolded in 2020. It’s up to businesses to follow suit with the right strategy.