Aug 16, 2022
about 5 min read
Top Five Digital Transformation Trends In 2022 You Should Know
TABLE OF CONTENT
What is digital transformation?
Top five 2020 digital transformation trends in Asia
- Cloud technology
- The Hybrid Work Model
- Increasing investment in Artificial Intelligence and Machine Learning
- Transparent Privacy Policies
- Blockchain Technology, NFTs, And The Metaverse
What is digital transformation?
Digital transformation is the process of using digital technology to develop new - or modify current business processes, culture, and consumer experiences to meet the changing world of business and market conditions. Digitalization is not about changing how your business is operating or creating new business types. It is about the better and faster your business can benefit from digitalization, for example, your data can be instantly accessible and not stuck somewhere in a dusty archive.
Read more: Go “Digital” Or Go Home - Digital Transformation Strategies From Real Examples.
The digital era has arrived, and it results in countless innovations for businesses to explore, which makes the competition much tougher. Since the COVID-19 pandemic two years ago, customers’ demands and requirements have changed more digitally. Moreover, a company may embark on digital transformation for a variety of reasons. The most likely explanation, however, is that they must: It's a matter of survival. Following the coronavirus pandemic, the capacity of a business to quickly react to supply chain interruptions, time-to-market challenges, and fast-changing consumer expectations has become important. Consumers' use of technology has expanded dramatically after the outbreak of the COVID-19 pandemic. According to a Forrester study, 66% of Chinese buyers are buying more things online than they would before. As a result of the epidemic, even customers who were previously considered digital skeptics anticipate maintaining their online habits. The fact that being digital is the future, Crosstech Com stated that “Around 80% of customers will perceive the world as entirely digital, with no distinction.”
Asia is said to lead the world in digital transformation according to Bosch (2018), and to adapt to the digital world, companies must rapidly create strategies and embrace the changes that mostly influence customers. It is important to acknowledge the top five trends of digital transformation in 2022 so that your business will not be left behind and maintain competitiveness in the digital age.
Top five 2022 digital transformation trends
Some outstanding digital transformation trends that should be noticed in 2022 can be mentioned as follows:
Cloud computing technology enables anyone to access digital resources stored in virtual space via networks, most often satellite networks. It enables users to communicate information and applications without regard to their geographical location. Cloud computing technology has been researched for years, and finally, it is leaving the ground. Thanks to cloud technology, employees can fast access the data they need everywhere. Employees can work more efficiently and effortlessly indexing and searching for files. Applying cloud technology in business can also reduce the paperwork and physical infrastructure, which contributes to reducing the overall cost.
Most Popular Cloud Management Software:
- IBM Cloud Orchestrator
- Apache CloudStack
- Symantec Web & Cloud Security
The Hybrid Work Model
In post-COVID-19, we can see that the new normal has significantly affected the paradigm shifts in the way the company operates. The concept of a hybrid work model is that the employees can choose to work remotely or in the office at their convenience. The employees see the value in a hybrid work model, according to a result of Envoy & Wakefield Research (2021), 47% of employees would find another job if the company does not offer a flexible working model. And it's no surprise that 77% of businesses have already chosen to become hybrid (Envoy, 2022).
With the support of digital technology, a hybrid working model is no longer an impossible thing. Companies that properly apply a hybrid working model can benefit from it as employees can freely work at their best condition, some can be more productive whether in the morning, afternoon, or late at night.
Increasing investment in Artificial Intelligence and Machine Learning
AI-powered services and products play a prominent role in optimizing your business operation. With the massive growth of AI and machine learning, companies have to rapidly adapt to the changes and remain competitive since lots of companies have been applying these technologies currently. Business leaders and investors globally agree that AI and machine learning can contribute to cost and time-saving, risk management, optimizing operations, boosting growth, and fostering innovation. To be specific, AI in marketing and sales is widely used, and many marketers apply AI-powers services as part of their digital transformation strategy.
Read more: How To Improve Customer Experience By AI-powered Services/Products?
Blockchain Technology, NFTs, And The Metaverse
Blockchain technology so far has been most closely connected with cryptocurrencies such as bitcoin. Nevertheless, it is also used in a variety of different contexts, notably in business. The blockchain's most fundamental promise is increased security due to its immutable records. But, new technology has implications for how businesses manage supply chains, collaborate with partners, and handle transactions and contracts.
In 2021, non-fungible tokens (NFTs) were an explosion - unique digital collectibles that can be sold and bought as any other assets. Although NFTs are typically utilized for digital art and games, they are also utilized for real estate, equities, bonds, and even data ownership rights.
The metaverse is a collective, virtual, open area created by combining virtually improved digital and physical reality, and is noted for providing users with immersive experiences. Although this concept is still in its infancy and has a long way to go before reaching maturity, it has the potential to completely disrupt the AR/VR experience. Several major parties, including Facebook, are spending substantially and working tirelessly to ensure the success of this notion in the future.
With the development of blockchain, NFTs, and metaverse, it is forecasted that the world will turn digital in many aspects of life. All the businesses and events will digitally happen there, the companies should always be ready to adapt to the innovations so as not to be outdated and forced to leave the market.
Digital transformation is widely embraced in many fields of life such as education, finance, automotive, and others to stay competitive and relevant. Modernization also provides them with advantages that the traditional technique does not. More than that, it demonstrates how keeping up with the latest technology is a certain, not a luxury, for many industries.
To sum up, since the pandemic hit the global a couple of years ago, it is clear that being digital is a necessity for all businesses. Besides being competitive in the market, businesses that embrace digital transformation have better risk management and be more flexible. In the future, the world will move towards Continual transformation.
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