With the constant-moving world of digital, leaders are continuously looking for ways to improve their digital strategies – implementing new and innovative trends. And in 2023, there is a great need for leaders to implement the growing technologies in the market that will help business strategies run more efficiently and achieve a competitive edge. The digital transformation market is expected to be worth $146.63 billion by 2030.
One of the major benefits of digital transformation trends is it helps organisations keep track of the latest changes in technology and business methods.
Increased migration to the cloud
Cloud has become a necessity in the last two years. Thanks to the introduction of hybrid working and a range of new communication technologies, workforces can gain all the information they need via a cloud service. Cloud is transforming the way organisations not only access information but stores it.
In 2023, businesses will be relying more on cloud technologies to cut expenses and improve accessibility. Cloud tech will also help businesses cut out the more repetitive and “tedious” tasks. Whilst cloud technologies no doubt provide major advantages when it comes to handling sensitive data, business leaders must ensure their security models are strengthened.
AI and machine learning
AI has remained one of the leading digital trends in the last few years and 2023 will be no different. AI and machine learning technologies are at the forefront of digital transformation. The use of AI has become integral for digital leaders as it helps them gain insights into factors such as demographics, and customer behaviours amongst others.
As personalisation is now a welcome and preferred element for shoppers, in particular, Machine Learning helps boost these efforts; creating unique and personalised experiences for customers. Not only are these technologies being merged to satisfy customers, but they continue to prove to be a help to staff members, assisting with day-to-day duties and decision-making.
Intelligent search
A process that also incorporates technologies such as computer vision and machine learning is intelligent search. Due to the wealth of data that is available to access increasing, being able to extract what you need isn’t always an easy task.
Intelligence search’s main purpose is to help businesses break down information silos by enabling employees to search for and obtain the information they need from multiple data sources in a timely fashion; also allowing information to be analysed in both structured and unstructured formats. Silos can be identified as information management systems that are unable to freely communicate with other information management systems.
According to analysis from Management Consulting, McKinsey’s, employees spend 1.8 hours every week searching for information. Intelligent search can help deliver smarter results faster when searching for information within an organisation; therefore eliminating traditional practices.
Automation
78% of organisations worldwide agree that remote working will increase the proportion of their organisation's workforce using automation in their roles – up from 65% in 2020 – according to Deloitte.
Automation is one of the most influential digital transformation trends to follow when trying to accelerate business process automation solutions. Automation minimises the need for human interference and the execution of internal duties and procedures. Its purpose is to increase productivity, improve the customer experience and bring a more digitized approach to operations.
However, in order to successfully implement automotive operations, leaders must first identify the best business automation tools that will produce faster outcomes.
Investment in Blockchain Technologies
According to Mintel, the UK is currently home to 249 high-growth companies developing blockchain-driven software and blockchain services.
Whilst Blockchain may be rooted in cryptocurrency, one of the reasons why Blockchain has emerged as a valuable technology, in general, is due to its usability in various industries which include finance and healthcare. In such industries, protecting sensitive data from being leaked to the public is among the main priorities. Blockchain is helping businesses to create smart contracts and store information permanently without falling into the wrong hands and being misused.
As data protection is now an important priority for businesses, leaders will not regret investing in blockchain technology in 2023.
Customer data platforms
In relation to personalisation, the way in which businesses can provide personalised experiences is through customer data platforms. Customer data platforms are used for various purposes which include:
Analysing customer trends
Building personalised campaigns
Unifying first-party consumer data
Identifying opportunities for future marketing campaigns
By adopting a customer data platform in 2023, leaders will be able to gather in-depth insight about their customers in one place, enabling them to make better decisions in the long term.
Summary
All of the trends we’ve highlighted should be on the mind of digital leaders. In order to gain a competitive edge and stay ahead, adopting the necessary digital transformation is very well likely to improve internal performance and drive results. Ai and cloud migration in particular will make businesses more adaptable and unlikely to fail in the future.