Why Is Everybody Talking About Digital Transformation?

We’re no fortune teller, but we know you’re at your computer or browsing through your cell phone right now because that’s where you’re reading this. Over 90% of Americans can’t imagine life without the internet and would define themselves as daily users. However, perhaps somewhat surprisingly, less than 30% of business is online in the USA. Hands up if you thought it would be more!

For those involved in creating the internet, it is common knowledge that the sphere is moving at a voracious pace, with new models and uses popping up constantly, providing more and more opportunities for digital transformation for businesses big and small. Artificial Intelligence (AI), the blockchain, and cloud computing (Let’s call them ABC) may seem like buzzword bingo for those in the 70% who haven’t migrated their businesses to online pastures, but they’re coming to stay. So here’s how and why you should take note if you haven’t already! 

I Thought I Knew My ABCs

I know. And honestly, learning this new one might seem like learning a new language. So first, let’s explain the three hot topics in very simple terms:

• Artificial Intelligence (AI)

Artificial intelligence is the ability of a computer to do what a human can do. The intention is really that the computer can do these tasks faster and more efficiently than a human. Examples of this are the Amazon Alexa or Chat GPT. With the latter, you can ask it to write you a recipe, rewrite an article in a more playful tone, or even ask it to make some code (computer language) for your website. 

The advantages abound — but can be summarized in three words — AN EASY LIFE. There are, of course, some downsides, such as the output can only be as good as the input. This is why it’s important that lots of different people from different walks of life get involved in the making and advances of AI.

• Blockchain

You may never have questioned how the internet was built. Why would you if you don’t work in tech? We just use it, and that’s that. But a new wave of computer programmers and developers has come up with some new internet architecture — blockchain. Essentially, this type of internet allows ‘blocks’ of information to be made and stored online that nobody can change and everybody (in theory) can access.

The best bit about being unable to change the information and that anybody can access the information is that we can make the internet ‘trustless.’ Basically, we can make transactions and other types of interactions that can’t be falsified. Here are lots of ways we can use the blockchain. It’s still in the teething stage, and there are improvements to be made, but it promises to revolutionize how we use the internet.

• Cloud Computing

I remember my aunt recommending I save a piece of university work to a ‘floppy disk’ once upon a time. I was like: Umm, it’s pen drives now, darling. If we were having this conversation now, I’d probably say something like: I don’t need to. It’s stored on the cloud. And be met with a puzzled look. The cloud is basically remote storage. It’s your work on Google Drive that even if you spill your coffee on your physical computer, you can access it again from another computer because it’s stored on a server (big badass computers) somewhere far away from your clumsy hands.

As well as preventing these kinds of disasters, cloud computing allows for scalability, seamless collaboration, flexibility, security, and cost savings. Limited control over how you store work on the cloud may exist because it’s not tailor-made for your business or organization. Still, more and more flexible options are becoming available.

Why Should I Be Interested in ABC?

Cutting-edge technologies like AI, blockchain, and cloud computing are opening the world up to a digital transformation that helps organizations work smarter, not harder. It streamlines processes (everybody can work on a shared document thanks to the cloud), automates tasks (you can use a special program called a smart contract on the blockchain to execute a transaction without human interference), and boosts productivity (you can ask Chat GPT to come up with your marketing Tweets and spend time on other tasks). 

Plus, they make your business more agile and efficient, meaning you can quickly respond to customer needs! 

Customer Service

Speaking of customers, digital transformation in the form of AI, blockchain, and cloud helps you understand your customers better. If you can access their data and analytics, you can create more personalized and targeted experiences that they'll love. This leads to stronger relationships and more loyal customers. 

Digital transformation also gives you access to valuable insights and data that help you make informed decisions. Understanding market trends and customer behavior helps you identify new opportunities and optimize your operations for greater efficiency and profitability.  

Competition

Digital transformation also helps you stay ahead of the competition. Remember, only around 30% of businesses are online, and B2B customers spend 70% of the purchase cycle researching potential investments online. So again, this Chat GPT (for example) we mention can help you stand out in the digital world. By innovating and creating new products and services, you can differentiate yourself from the rest. Acquainting yourself with some of these digital tools can make you more responsive to changes in the market, which is essential in today's fast-paced business world. 

A Note On Cybersecurity

People can be hesitant to change, especially if their pen-and-paper method of business operations is seemingly unproblematic. We hear horror stories of people getting scammed online and often have that Big Brother Is Watching You feeling. While these are not totally unfounded claims, robust cybersecurity is what people want, meaning companies are tripping over each other to innovate and come up with the safest ways to help you streamline your business operations online. This way, everyone’s a winner.

Conclusion

To sum it up, digital transformation is the new norm and, in today’s day and age, necessary for any organization that wants to thrive and succeed in this digital age. You don’t need to be ultra-tech-minded, either, as computer programmers and developers are trying to make these tools as easy as possible for people to use. The more users, the better. And the more diversity of thought that goes into making these tools, the better — because that’s how they will appeal to EVERYBODY. Diversity will make digital transformation break out of its cocoon and become a digital revolution.