Throughout human civilization, inventions have been meant to reduce workloads and make life easier. Technology, especially online digital platforms, is something that has the entire world hooked. The merging of media, telecommunication, and computing have been continuously evolving to change the way we work and live. This change is exponentially transforming into digitalization, and we have every reason to believe that it will continue to evolve even more. Whether its tourism, industries, government, schools, hospitals, private sectors, media outlets, research centers, or any other organization; everything is getting connected digitally to contrive their online presence. Technology will always be more accessible and faster to develop, control, and monitor day to day applications. Almost every business is staking their claim into the global digital world, and as a result, everything is moving faster and smarter - markets, products, inventions, trends, and consumers.
Impact & Assessment
We are yet to achieve the complete and conscious Artificial Intelligent system to experience the real-world problem solver robotic transformation. Moreover, the day is not far when human needs will have been eliminated, and robots will have performed most of the day-to-day tasks. Digitalization is inseparably connected to the societal and commercial units. Our research on the Digital Transformation has centered on measuring the influence of digital transformation on both society and business. We found that digitalization has tremendous power to create value for society and profit for the business. In this world where countries are separated by borders and divided by economic growth, we have a rewarding opportunity to form digital transformation to make this world a far better place.
Today, information flows through networks with even higher intensity than ever, transforming the world by its priorities. Online markets being evolved, traditional stores are getting on their knees as most of the consumers are habituated to explore the web to buy what they need without stepping out from their place. Today, the situation of the market is starkly different than it was two decades ago as traditional terms of business practice have been hammered out by healthy digital transformation. Suffice to say; these are the days when the power of rolling the market is in the hands of the consumers as recently they have been acting as active elements instead of just being the target.
Everything is happening at the grand scale now. Businesses strive for positive feedbacks, customers asking for instant support, advertisers want to launch their products swiftly; all such needs are being supported thoroughly via n-number of sophisticated systems, tools, and technologies. Companies are continually examining their business models to apply the necessary changes, and integrate the digital gem with their existing system to remain healthy in the competition. Companies must adopt the new approach to drive the fundamental changes in the way they advertise their brands, manage their staff, process inventory, deal with customers, and analyze the report. Many big brands have been adopting the customer-centric approach instead of going for a product-centric strategy thanks to the digital transformation. Gone are those days when companies just sell their product and refuse the services. In this modern era, Companies tend to retain their existing customers, identify potential customers, determine target markets, ascertain their needs, build product launch strategies, tailor their services, install automated customer support systems and arranging a lot more to showcase their business online all the way.
At its core
Digitalization hinges on whether it delivers what everyone thrives for the advantage or not. Apparently, the answer is affirmative, as it improves efficiency, quality, and productivity. It also helps cut costs, which ultimately aids to settle the budget effectively. Moreover, It is becoming a strategic necessity for the success of any business. This is the reason why public and private sectors are propelling towards a digitally transformed approach in the means of delivering their products and services. Besides, the efforts are being made by the United Nations to achieve sustainable development goals through innovations. People's quality of life, environmental protection, and foster equitable growth rate are the pillars on which these goals stand. However, a lack of education, de-globalization, inability to adopt new technology, and inadequate regulation; such diverse factors limit our strength to seize the digitalization opportunities to shape the world.
It can generate value for both individuals as well as for businesses, which also benefits society by creating jobs. What value does it provide to the community, human lives, industries, research centers, and the environment? Large-scale research is being conducted in various sectors to calculate the impact of Digital Transformation. The research includes smart cars, big data, remote surgery, safety, smart city, economy, military, test-tubes, transportation, machinery, Internet of Things (IoT), digital mobility, and many more; to measure the impact and performance of digitalization. Some research groups are also making efforts to explore and make sense of the complex forces driving transformational change across economies, industries, global issues. However, that is the topic for some other day. It gives justification for a diverse range of public and private sectors to unlock the power of digital transformation. The digital approach enables speed, accuracy, and transparency.
The path forward:
Digital transformation value assessment helps everyone account for their potential impact on the bigger picture to reduce the risk of public fallout. As we strive to decrease the technological and cultural gap, we intend to construct the bridge that connects traditionalism with digitalization to maximize productivity and create an impact on lives. The purpose of the transformation has never been to produce more research. It has always been to invent new concepts and their practical application so that we can deliver a digital revolution that unlocks new levels of prosperity for all.
