A large part of what makes a company successful is its ability to create a culture and customer experience that goes above and beyond the competition. If you are not improving your stakeholder experience, that being the experience your employees, customers, partners, and community has in relation to you, both the short and long-term business milestones are missed. This is where digital transformation comes into play, as it is used in combination with new technologies as a way to implement new business models, outperform the competition, and differentiate within the market. With this said, 2020 is the year to start taking digital transformation trends seriously as there are a few that will change how you do business.
- APIs Will Be Used in the Multi-Cloud Environment : Large enterprises use multi-cloud environments to help distribute computing resources like assets, software, and applications without the risk of downtime and data loss. But when it comes to moving workloads between multi-cloud environments, it becomes complicated to manage. API-led application development and containerization are two trends that are going to unlock data functionality while keeping the code and all of its dependencies packaged up in one unit. This means that the application can run reliably and smoothly within a multi-cloud environment.
- Artificial Intelligence Continues to Grow : The adoption of artificial intelligence and machine learning is going to continue to grow as it has proven itself to be a powerful tool within the business market. Not only can it automate tasks, but it can reduce human bias and create personalized customer experiences. The use of virtual agents/chatbots are the most common iteration of AI & Machine Learning, but we will also see warehouse pick-and-place robots, surgical robots, and AI being used in fraud detection, investments, and loan approval processes within the financial sector.
- Data Will Continue to Drive Business : In order for businesses to streamline operations and improve their relationships with customers, they are turning towards data to tell them what the market wants and needs. Data-driven businesses can launch products quickly, introduce new services, and break down the data they gather to improve company performance.
- 5G Is on Its Way Now! If we are going to see Smart Cities, Smart Cars, and Driverless Drones, then we need 5G technology and all of the big names are in on it. ATT, Verizon, Ericsson, Nokia, and even Qualcomm are doing their part to make it happen so that we can use real-time data sensors and expand how we use the Internet of Things. In addition to this, we will see WiFi6 which is the next generation of Wi-Fi connectivity. This will give us faster connectivity both in the home, in the workplace, and at any place of entertainment that relies heavily on internet access.
- Privacy Is on The Up. Due to the EU’s General Data Protection Regulation, more companies are pledging to be more transparent about the information that they collect about you and how it is used. This is big for brands that make this move, as transparency is a major driver of business as customers want to feel safe in using their favourite brands. There will be more awareness about information types and easier access to the private information on the consumer’s part (having a choice in what is being collected). If companies are paying attention, they can create some meaningful connections with their audience via the privacy renaissance that is booming.
While digital transformation trends can change rather quickly, there are a number of technologies that companies are beginning to see as extremely valuable. Without them, it is going to be difficult for companies to emerge as unique, different, and competitive.
So, it is quite clear Digital Transformation is the key factor for optimizing the customer experience for businesses today. Trending Technology is one of the factors of Digital Transformation but not the only part. Real Transformation means a Shift in Culture and it needs to change from the top. The marketing department should be placed best to understand the customer journey and the opportunities that come along with the Digital Transformation. To know more about the Digital Transformation Trends in Media and Entertainment for 2020, please feel free to contact us.