Business innovation is as important as updating the water in an aquarium. If this is not done, the water gradually stagnates and destructive processes occur. For a business to feel comfortable in the modern world, it needs development and technology creates these development opportunities. There are many innovations, but most of them did not have time to settle down and gain a foothold in the market. This is a risky path, as we have already heard about dozens of technologies that wanted to change the entire business, but after a few months, they forgot about them. We will not take into account too many fresh and ambitious projects. What digital trends in business have the greatest impact on him?
What are the trends shaping digital transformation?
#1 Hyperautomation
Automation will serve as a vital driving force for the modern digital enterprise, surpassing fragmented projects. Hyperautomation involves scaling automation enterprise-wide by reusing processes and deploying multiple integrated technology capabilities.
This market is already estimated at $600 billion in 2022, as organizations strive to swiftly identify and automate numerous processes. Based on Deloitte’s report, 93% of business leaders anticipate utilizing RPAs by 2023. MuleSoft’s findings indicate that most organizations are either already implementing or planning to implement automation initiatives to achieve strategic objectives.
#2 Data privacy and accessibility
Companies need data. They can help you learn more about values, customer behavior, and analyze your competitive advantage. However, big data also comes with big privacy risks. Concerns about this are growing, and companies are trying to integrate data protection tools. This is the right direction to go.
When looking at all the tech trends that focus on privacy and security, VPNs have the biggest impact. It allows you to change your iPhone location safely, bypassing regional restrictions and protecting yourself from harassment by large companies. Products like VeePN offer thousands of servers, DNS leak protection, and a kill switch system. All this is aimed at ensuring that no one knows your real IP address. Remarkably, even in a free trial, VeePN works quite well.
#3 A perpetual-learning culture
Advancements in AI, machine learning, robotics, and other cutting-edge technologies have accelerated the pace of change tenfold. By 2025, it is projected that the Industrial Internet of Things (IIoT) will connect approximately 50 billion devices, while around 70% of manufacturers are expected to regularly utilize digital twins by 2022. By 2025, LC/NC technologies are estimated to be employed in about 70% of new applications, a significant increase from less than 25% in 2020. Furthermore, the global revenue potential of the metaverse could reach approximately $800 billion in 2024, a notable rise from about $500 billion in 2020.
#4 E-learning
The education sector has experienced significant effects from the pandemic, with ongoing digital transformation. Educational institutions swiftly transitioned to online platforms to ensure the continuation of teaching and learning while maintaining social distancing measures. As a result, digital learning platforms have become part of the daily routine for both teachers and students. By 2024, the e-learning industry is expected to witness a surge in value, projected at an increase of $24.23 billion.
Even if someone doesn’t have a server available, it’s easy to bypass through Chrome’s VPN extension, making it a good choice. Additionally, numerous websites have been developed to support teachers in creating their educational materials.
#5 AR, VR, and the Metaverse
The core of digital transformation is capturing your very own vast virtual world. By the end of 2023, Statista projects that the AR/VR industry will have grown to a remarkable $31.12 billion.
Throughout 2022, augmented reality, virtual reality, and the metaverse gained substantial momentum within the industry. This upward trend is anticipated to persist as an increasing number of enterprises vie to spearhead the future of the internet.
While the original vision of the Metaverse, as detailed in Neal Stephenson’s cyberpunk novel Snow Crash, remains a distant prospect, Meta Platforms Inc remains resolute in allocating 20% of its budget to Reality Labs in 2023.
Beyond the attention-grabbing headlines lies the observation that augmented reality (AR) continues to reign supreme in this market segment year after year. AR boasts several advantages — simple implementation, no need for sophisticated headgear, and current accessibility via smartphones.
#6 The new scientific method
Embrace scientific advancements to drive innovation and stay ahead in the market. By leveraging disruptive scientific approaches, companies can create superior, cost-effective, and sustainable products and services. For instance, the rapid production of COVID-19 vaccines showcases the power of AI and robots. Additionally, laboratory-grown food has emerged as an alternative to traditional farming methods. According to the Accenture report, just as digital transformation became necessary for every company, becoming a scientific company will soon be essential to harness the potential of innovation.
#7 Supply unbounded
Challenge the limitations of your supply chain. Throughout the pandemic, organizations have remained nimble to meet evolving consumer expectations regarding order fulfillment. Moreover, Accenture’s report suggests that many of these adaptations will endure.
Forward-thinking companies are restructuring their supply chains and relocating production nearer to demand points. This may involve embracing micro-fulfillment centers to expedite delivery and cater to a larger customer base within a more compact infrastructure. Additionally, incorporating route-optimization algorithms can reduce delivery distances, circumvent traffic congestion, and improve on-time drop rates.
#8 Real virtualities
The integration of virtual and physical realms is on the rise. Eventually, virtual reality will encompass all our senses, transforming into “real virtualities” that integrate seamlessly into daily life.
Companies and individuals will have new prospects to engage in the exchange of virtual goods and services, a phenomenon already prevalent in multiplayer gaming and similar platforms. Possibilities include utilizing digital currencies, employee onboarding, and generating virtual prototypes or digital twins for industrial processes.
Conclusion
Business is changing and faster than ever before. It’s all about technology. We see a shift towards technology in most areas almost every year, and businesses can benefit from integrating them. Those who move in the first line in the implementation of technologies gain a competitive advantage and can save money. However, a wiser approach is to allow the technology to mature and then analyze it comprehensively. This will avoid mistakes, hacks, etc.
