In many ways, digital technology innovation provides a chance to accelerate progress toward the 2030 Sustainable Development Goals. The majority of governments worldwide are rapidly expanding their use of digital technology, allowing them to deliver more responsive and effective services to residents.
Understanding and following various digital trends can help you not only adapt to and utilise the changing industry around you but also future-proof your company against quickly evolving business technology for years to come.
Statista estimates that investment on digital transformation technology would reach $1.8 trillion by 2022. Between 2020 and 2023, direct digital transformation investment is predicted to expand at a CAGR of 18%. it is expected to approach $7 trillion as companies develop a digital transformation strategy and investments, becoming digital-at-scale future enterprises.
Some of the emerging trends include confidential computing, artificial intelligence and machine learning, hybrid work models and human capital management, blockchains and NFTs, predictive analytics and hyper-automation.
The more you understand about new technologies and systems, the more clarity you’ll have when investing in business enablement solutions, and the better equipped you’ll be to meet your major business objectives. Here are the top digital transformation trends to watch in 2022 and consider implementing.
AI-powered business automation
The use of artificial intelligence (AI) to boost process automation will grow as technology progresses and organisations face increasing pressure to reduce costs through process automation.
So far, specific segments of the organisation have been quicker to adopt process automation than others. Expect this to spread throughout the organisation. For example, customer-facing departments like sales and marketing have traditionally used AI to integrate disparate data and construct intelligent workflows that enable team members to work smarter and more successfully.
Workflow automation will be implemented across the whole organization by 2022 and beyond. This means that HR and people teams can schedule interviews and update applicant profiles more quickly and effectively, finance can automatically update payment records, and customer success teams can better respond to customer requests.
5G and IoT
The 5G network’s introduction marks the beginning of the next generation of mobile communication. Its speed improvements will be significant, with 5G projected to take roughly one millisecond to reply to orders, compared to 200 milliseconds for 4G.
Businesses that rely on the Internet of Things can profit from 5G’s increased efficiency in a variety of ways.
Investing in 5G networks and growing the usage of IoT in business can assist you in reducing all productions that are impacted by a company’s decision. 5G offers more bandwidth, broader installation, increased dependability, and improved security.
The launch of 5G delivers faster internet speeds and more stable mobile networks to end users, supporting the prospects for a far more connected future.
Digital banking – The Online Payment Solution
Digital transitions are unavoidable, and in 2022, organisations upgraded their digital assets to boost operations. The rate at which enterprises will shift digitally will not slow down in 2022.
Digital banking will be one of the top digital transformation trends starting in 2022. Most financial services are now available online, from loan applications to online payment solution. In the approaching years, there will be an increase in digital banking. This will have a significant transformational influence on the financial system.
You may have noticed that a number of organisations have begun to provide loans and credit cards through the internet. Verification of documents and other evaluations are now done totally online. This is the future of financial services. You can apply for all of your loans and pay all of your expenses online in just a few clicks.
It appears that overlooking cyber security, among other objectives, in an early stage of a company’s growth is relatively simple. Unfortunately, addressing cyber security vulnerabilities becomes considerably more difficult when a company expands in size.
As a result, the trend toward digital transformation has generated possibilities for organisations to secure data security. Aand consumer information safety at various degrees of protection.
As cyber security becomes an essential component of every digital transformation strategy, businesses should prioritise investments in trustworthy, compliant security solutions.
Digital asset protection, cloud security, integrated policies for cyber and physical security, vulnerability databases, decentralisation, and blockchain are some of the emerging cybersecurity trends.
Data fabric enables the flexible and dependable integration of data sources between platforms and business users, ensuring that data is available wherever it is required, regardless of location.
Analytics may be use in data fabric to learn and actively indicate where data should be utilise and altered. This can help you save up to 70% on data management.
The complexity and volume of data have grown at an unprecedented rate in recent years. Big data provides organisations with a better customer experience and real-time intelligence, allowing them to make better, more informed decisions and alter their product offers and strategies in response to client behaviour. The big data and data analytics industry is estimate to reach about $420 billion by 2027
Data analytics is not on its way out. It will continue to change as predictive analytics, cloud-native solutions, business intelligence, self-service analysis, and enhanced AI become more prevalent.
Business process automation
Business process automation is an emerging digital transformation concept that businesses must have by 2022. Small businesses automation in particular. To keep ahead of the competition, small business owners must use business process automation in all aspects, whether accounting, marketing, or customer assistance.
AI will be able to automate operations that are repetitive or dangerous. This technology will be utilise in Successful supply chain digital transformation, manufacturing, marketing research, and other areas.
Amazon’s Alexa service is one example of a company that already uses the technology. Machine learning technology may improve predictive analytics, assisting with business choices and predictions.
To stay up with digital-specific activities, businesses must first modify their strategies and models. Delivering the digital transformation effectively. Aids in the provision of new possibilities. The refinement of consumer insights, the scalability of services, the empowerment of teams. The creation of transparency, innovation, agility, and customised real-time experiences.
The expected technological trends in 2022 do not demand a major revision of organisations’ digital strategy. Rather, these developments indicate a heightened awareness of future difficulties and possibilities.