The term ‘digital transformation’ refers to digital technology to benefit your business. You can use it to introduce new business models or change how your company works. In the past, it would take a long time to plan and put into action a technology-driven strategy. But now, digital transformation can happen quickly.
It is common for businesses to spend a lot of money maintaining their current infrastructure and systems. However, companies were more likely to adopt new digital transformation ideas during the COVID-19 pandemic. These new ideas could help them survive in this difficult time.
According to Statista, the worldwide expenditure on digital transformation solutions is anticipated to reach $1.8 trillion by 2022.
Businesses today are under pressure to transform to stay competitive digitally. The world is changing rapidly, and those who don’t keep up will be left behind. Here are seven digital transformation trends that will shape the business landscape in 2022. We’ll also look at why digital transformation is so important and how you can get started. A digital transformation company can help you with this process.
Why is Digital Transformation Important?
The digital transformation of a company involves using technology to increase efficiency. This might include moving from old, internal applications to new, cutting-edge digital solutions. It may be necessary for your company to reorganize certain aspects of its operations to reap the benefits of digital transformation.
There are several advantages to business transformation through digital transformation. These include:
- Increased efficiency
- Improved customer satisfaction
- Enhanced decision making
- Increased agility
- Stronger network infrastructures
- Increased ROI and reduced cost
If you don’t adopt digital transformation, you will be left behind. Reports show that by 2023, digitally transformed organizations will contribute more than half of the global GDP. That’s over $50 trillion.
Some people think that companies should hurry to embrace digital transformation. But before doing that, company executives should be careful and make sure they are ready for it.
Also, read the post on Why Digital Transformation Is Essential For Business Growth
Trends Shaping the Future of Digital Transformation in 2022
Now that we’ve answered the question, “why is digital transformation so important?” it’s time to look at some of the digital transformation trends that will shape business in 2022.
1. Hyper automation Across the Board
Automation can help businesses save money and time. Companies plan to invest in robotic process automation, low-code/no-code adoption, and AI and machine learning.
Some of the most hyper-automation-oriented activities include:
2. RPA (Robotic Process Automation)
According to Deloitte, 93 percent of companies plan to use RPA by 2023. Using software robots, robotic process automation handles routine activities at work. RPA aids in the development of speed to market, savings on costs, and scalability of business operations. Digital transformation services can help you implement RPA.
3. Low-Code Platforms
Drag-and-drop features are available on low-code platforms to create software. No coding expertise is required, making it a unique platform for nontechnical people. Low-code solutions also aid in API integration, allowing for simple integrations without the involvement of developers.
Airtable is a low-code platform that enables users to create applications using drag and drop features. The value of Airtable has increased to $11 billion, which demonstrates the popularity and adoption rate of low-code platforms.
4. Cybersecurity Transformation
Another large digital transformation that businesses will confront in 2022 is cybersecurity. To maintain their reputation and consumer confidence, organizations must be able to protect their databases against breaches and assaults.
They must also educate their staff and customers on good data management to achieve this. They not only need to allocate the appropriate funds to cybersecurity tools and technology that protects and encrypts their data, but they must also instruct their workers and consumers on proper data management.
This is why having a professional on board to help you manage these issues and prevent future disasters is so important. Furthermore, breaches are almost unavoidable. As a result, businesses must have in place an emergency protocol that allows them to deal with difficult circumstances while maintaining their integrity.
5. The Growth of Artificial Intelligence
Artificial intelligence (AI) is the core of hyper-automation, and it’s responsible for hyperautomation’s rise. A lot of systems and solutions that are being used under digital transformation are AI solutions. This includes modern cybersecurity software, RPA software, and analytics software. Many organizations are turning to AI to gain a competitive advantage.
AI can help with cybersecurity, business forecasting, marketing & customer support. AI is growing quickly and is expected to grow even more in the next few years. In 2022 experts predict there will be a lot of growth in this market.
Related post on What’s Possible With Artificial Intelligence for Your Business
6. Agility as a Top Priority
As previously said, various sectors are concerned about cybersecurity as they embrace digital transformation. This growing anxiety prompts businesses to consider how important it is to be agile to avoid hacking assaults.
To protect themselves, businesses are making agility a top priority. With more resources devoted to tools and processes that will improve agility, they are more quickly adapting to changes in the digital landscape.
Some of these changes include:
- Allocating more resources to cybersecurity
- Implementing better change management processes
- Adopting low-code/no-code platforms
7. IT Budgets Will Grow
As digital transformation becomes more commonplace, IT budgets will continue to grow. Businesses will need to invest in new tools and processes to stay ahead of the curve.
Businesses will need to allocate more of their budget to IT to keep up with the competition. In this way, they can stay up-to-date with technology and trends.
8. Data Democratization
Data democratization is making data accessible to everyone in an organization. This includes giving employees access to the data they need to do their job.
Data democratization is important because it allows businesses to make better decisions. When everyone has access to data, they can make informed decisions that are based on facts.
Data democratization is also important because it allows businesses to avoid silos. Silos occur when different departments have data that they don’t share with other departments. This can lead to problems because it prevents businesses from getting a complete picture of what’s going on. Digital transformation services can help businesses avoid these problems by giving everyone in the organization access to data.
The topic of digital transformation will only grow in popularity in the coming year. Businesses need to be prepared for the changes that are coming and a digital transformation company will help you become future-ready. They need to make sure they allocate the right resources to the right areas.
Cybersecurity, agility, and data democratization are three of the most critical areas businesses need to focus on. If they do, they will be well on their way to success in 2022.