| Find, read and cite all the research you need on ResearchGate A recent survey of directors, CEOs, and senior executives found that digital transformation (DT) risk is their #1 concern in 2019. As we round the bend to 2018, we get a sense of what’s ahead in the digital transformation—barring any unexpected disruptions, of course. While the financial industry will be the first to begin utilizing this amazing tool, numerous others — from healthcare to entertainment to hospitality — will not be far behind. Gartner estimates more than 8.4 billion "Things" are on the internet today, up more than 30% from just one year ago. Better experiences lead to deeper engagement and then long-term customer loyalty. Here are 11 inspiring case studies of digital transformation. Digital transformation offers organizations the potential to compete, stay relevant and reduce the cost of delivering services to customers and running business processes.. As the experts at Epicor Software have pointed out, digital disruption isn't so much an IT project as the future of business, and this … © 2020 Forbes Media LLC. Successful digital transformation requires an agile workforce that is ready to change, reskill and upskill. Boeing’s digital transformation The productivity improvements we’ve seen from DTE partnering with our businesses is beyond our expectations, and we’re ready to expand the effort.” The aerospace giant uses the Cloud Foundry Foundation to help run its applications at scale and transform. It has launched the “Car Connect” app which handles everything from navigation services to real-time traffic information, reading out news to selecting music. For example, adding a digital app, changing to a digital phone system, or … Infographic: The Building Blocks of Digital Transformation. 10. ... We're diving deep into digital transformation at the 2018 Smart Industry Conference. The 21st century has become the era of digital transformation, because technology has permeated every aspect of our lives. The State of Digital Business Report says 84 percent of companies lack the talent necessary to achieve digital transformation. Even though we haven’t quite hit the final quarter of 2017, you could say it’s been an eventful year in digital transformation. Porsche has created a unique ID for all its customers and gets to know their experiences and feedback both online and in-store. To turn things around, Nike decided to transform its brand and supply with the help of digital transformation and become a digital transformation company. Digital transformation is widely discussed and is impacting every company. What does digital transformation mean for you? 22. No doubt security is heating back up as consumer privacy is at stake, but people continue to forgo privacy and security for experiences; this likely won't change even though it seems that it should. Why? Nearly 2,600 CIOs surveyed by Gartner in 2016 said they devote 18 percent of their budgets to digital transformation, a figure that is expected to increase to 28 percent by 2018… I am a principal analyst of Futurum Research and CEO of Broadsuite Media Group. She has done her Masters in Journalism and Mass Communication and is a Gold Medalist in the same. Mantras and tech visions such as “people first” and the citing of emerging technology alphabet soup, together with “design thinking” thrown in for good measure, did little to advance the discipline or give organizations a clear path f… Web- and app-based self-service portals make it easy for consumers to comparison shop, enroll in coverage, use multiple agents and carriers for different types of insurance (home, car, life, and so on), and file claims. I believe we are still only at the beginning here, but we have seen the likes of IBM Watson, SAP Leonardo, Salesforce Einstein and other major software companies all launching embedded AI right into their platforms. Just yesterday, tons of us were getting excited about buying our first set of VR headsets — and out of nowhere, AR has pushed it out of the way. Gartner shows that as of February this year, blockchain was the second top search term on its website, increasing 400% in just 12 months. I explore all things Digital Transformation. The energy of the author is felt throughout the text, making it a more exciting read than most books you pick up on technology. In our own innovation consultancy projects, we regularly look at how other companies approached this problem. Tech giants such as Microsoft, IBM, SAS and SAP are all heavily investing in Analytics, more specifically IoT Analytics as they are seeing the power of this combination in driving new business insights across a vast array of industries and applications. Bringing together the technology layer with the human layer, I seek to solve the biggest challenges that companies have today; how to grow, scale, change and adapt to a world where technology and media shift at breakneck speed. Industry leaders such as Cisco and HPE have made huge hardware, software and service bets on this movement, which I look at as strong validation of this trend. That same kind of efficiency can be exercised in almost every industry, from retail to city planning. Digital transformation is more than saying “We are doing business in the 21st century, using 21st century tools.”. Check out this video on Digital Transformation. I am a principal analyst of Futurum Research and CEO of Broadsuite Media Group. • 5G (4): Just as the amount of data produced by the IoT will force data to the edge, it will also force mobile providers to move faster than ever — toward 5G. Indeed, if there is one thing that’s clear in digital transformation, it’s that all the technologies above are working together to push one another forward, creating a swell of change that simply cannot be resisted. This is why trends 1-4 all rest with IoT. Digital transformation goes beyond simply injecting some digital into the business model. AMAZON BUSINESS: Served as an example of ‘digital customer Three of the main trends I see — the analytics revolution, edge computing, and 5G cell processing—are all driven by the IoT at their core. And that employee training does not have to be disruptive to your current operation. However, businesses today are choosing to stay ahead by keeping up with the pace. In a report titled FutureScape: Worldwide Digital Transformation 2018 Predictions, IDC predicts that spending on digital transformation will reach $1.7 trillion globally by the end of 2019, a 42 percent increase from 2017. I spend my time researching, analyzing and providing the world’s best and brightest. Porsche is relying on technology to transform their cars with automated driving. Years of research on transformations has shown that the success rate for these efforts is consistently low: less than 30 percent succeed. It’s an imperative in today’s business market. It’s a bit speculative to say it will be called “Failure-as-a-service,” but the ability to more quickly recognize when something isn’t working and move on will be a key differentiator between the winners and losers of digital transformation. 1. Today, we’ll dive into examples of digital transformation with success stories from the perspective of those within the company. This year we are seeing  Gigabit LTE (the stepping stone between current LTE and 5G) making leaps with devices from Samsung and Sony leading the way. Here are the top five digital transformation trends for the health care field. You may opt-out by. To me, it’s no surprise. Opinions expressed by Forbes Contributors are their own. This unique ID also helps in analyzing the product performance. 1-4. She loves travelling and photography. Today digital transformation is vital to the existence of any business set up in the profit/ non-profit/ MNC/ public or private sectors. In light of consumer preferences for streaming video enabled by technology, entertainment giant Disney has acquired other companies to advance its digital transformation. 3-D visualization, companies can better train, pitch, and the way businesses are run and the.. Famous for its sports shoes and clothing, Nike started to lose luster... 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