Digital transformation can be described as the way a business integrates digital technology in order to change how they operate. Previously, effectively implementing a technology-driven strategy would take several months to years. However, with the event of the global pandemic, businesses have ramped up the speed at which they are adopting the latest trends related to digital transformation.
One study estimates that spending on technologies related to digital transformation is expected to reach around $1.8 trillion by the end of 2022. If a business would like to emphasize spending on rapid digital transformation, what technologies should they invest in? Below we cover some top trends.
IoT and 5G
5G is regarded as the 5th generation technology for mobile networks. The primary characteristics of the 5G technology include low latency, multi-peak data speeds, improved connectivity, better user experiences, better network bandwidth, and greater availability.
When combined with edge computing, 5G is capable of high-end innovations for leading technologies such as Artificial Intelligence, video inspections, and drone-initiated inspections. These help in automating day-to-day tasks while averting network issues. Some common uses of 5G technology in the IoT industry are:
- Connected automobiles
- Shipping and logistics
- Remote healthcare
This revolutionary technology uses the help of DL or Deep learning for the development of neural networks or automated code drafting. Software 2.0 is still at its entry phase in the technology market, but businesses are expected to gain expertise with additional technologies like DataOps (Data Operations) and MLOPs (Machine Learning Operations).
With the rise of IoT and 5G technologies in the modern era, cybersecurity is finally being pushed to the core of business operations while ensuring digital transformation. A recent study report of a number of businesses across China, the EU, and the US revealed that cybersecurity remained a top priority with respect to digital transformation and AI implementation.
A number of companies out there leverage artificial intelligence and machine learning for detecting malware and boosting cybersecurity. Effective cybersecurity solutions are especially prioritized in the domain of digital transformation.
Hyper Automation is aimed at automating businesses and IT processes to a significant extent. Whether it is no-code or low-code adoption or RPA (Robotic Process Automation), machine learning, or AI, businesses should plan at upscaling investments in rapid automation.
Some of the initiatives related to hyper automation are:
- RPA: Robotic Process Automation is responsible for handling complicated and redundant tasks at work with the help of software robots. RPA helps in increasing the speed to market, reducing expenditure, and increasing the scalability of business operations.
- Low-code Platforms: These come with the simple drag-and-drop functionality for building software. Minimal coding knowledge is required, making it a great platform for non-techie people. Low-code tools also help with API integrations – allowing seamless integrations without the involvement of the developers.
XaaS or Everything as a Service
Anything-as-a-Service or Everything-as-a-Service is another leading digital transformation trend that is helpful in promoting the ‘as-a-service’ model while delivering all possible aid to customers. XaaS goes beyond the concept of the conventional cloud-based models and includes additional services like:
- CaaS or Containers As a Service
- STaaS or Storage as a Service
- FaaS or Function as a Service
- VaaS or Video as a Service
- UCaaS or Unified Communication as a Service
- SECaaS or Security as a Service
Generative Artificial Intelligence (AI) is a kind of revolutionary AI technology that uses existing content like images, audio, text, and more to create similar yet original content.
Some of the most common instances of generative AI are face-based applications through which users are expected to offer images as the input. In response, the app will reveal how you will look across the entire phase of life. Modern enterprises can look forward to leveraging the Generative AI by using the following techniques:
- Transformers: including Wu-Dao, LaMDA, and GPT3
- GAN or Generative Adversarial Network – featuring two neural networks like discriminator network and generative network
- Variational Autoencoders: It is a form of the architecture belonging to Artificial neural networks
AR Cloud or Augmented Reality Cloud is a digital 3D copy of an ongoing real-world environment created with the help of its spatial properties, and can be thought of as the digital twin of any given real-world surrounding.
While the overall success of AR Cloud will be dependent on the overall maturity of the subsequent 5G networks, businesses like Facebook, Amazon, Google, and others are leveraging investments in the technology already.
Agility as the Top Priority
Cybersecurity is a major concern for a number of industries while adopting digital transformation. The rising concern has prompted businesses to realize that agility is pivotal to surviving dangerous hacking attacks.
Companies want to reach a specific point at which they are not preparing for “what if” situations, but instead have access to actionable steps that are dynamic and prevent them from suffering from any specific outage.
In addition to cybersecurity, improved agility within organizations can serve as the foundation of subsequent digital transformations.
Data democratization is going to be one of the important aspects of ensuring digital transformation within modern businesses. Data democratization will be promising businesses a future in which data remains open to all for analyzing and drawing insights.
Modern businesses can look into digital transformation trends for 2022 and beyond to ensure success in the long run.