Digital Transformation is making organization agile and improve efficiency, using digital technology to create value for its stakeholders. It takes holistic transformation in terms of people, process and products. As digital technologies are advancing fast, it disrupts business model, whereby compelling businesses to change or adopt for its betterment.
This disruption brings different business models, organisation structures, culture, products/services offered, to ensure businesses stay in competition. Organizations need to look into customer insights and enable it by transforming i.e. using relevant digital technologies.
Why does it matter? Every organization strives to deliver more value to customer. This demands efficiency in every department, i.e. do more with less. Digital transformation is major enabler to shift mindset to digital first company. It can transform company’s business model and organization structure, to focus on using digital technologies and automate processes, upgrade product / services, understand customer behaviour, etc.
Why Now? Digital technology is advancing like never before. And keeping pace with it, is required to be competitive. While providing value, organizations need to understand customer insights i.e. changes in customer behaviour. Digital technologies makes organizations agile to adapt to ever changing customer requirements. Hence it’s imperative to strategies and implement digital transformation.
Artificial Intelligence (AI) is one of the key technology for Digital Transformation, and has capability to process big data quickly to identify patterns and provide insights. Hence it can help to enhance decision making. Few examples:
- AI chatbot in customer service to handle customer queries
- Google route provides optimized way to reach from one place to another
- In healthcare, AI’s predictive capability helps proactive procedure