The advent of Next-Gen technologies like Artificial Intelligence, Blockchain, Big Data and the rest have changed the meaning of digital transformation entirely. We think that we are now in the era of digital transformation.
But DT began almost 3 decades ago when companies started adopting computers in the workplace and went paperless. That is one of the first instances where DT became a popular term.
But as time goes on, technology becomes more accessible and affordable. What was once a luxury, eventually turned into a basic need. Think about computers or mobile phones. Both these technologies are affordable and have become a basic necessity to perform a host of day to day operations.
Similarly, in the 1990s companies began turning to software products that could decrease the need of human interventions in traditional processes. A decade ago these software products began paving the way for cloud based applications.
What has changed now is the rate at which technology is evolving. Where it once changed every decade or so, it is now expected to change almost every year. So we are now truly in the age of Digital Transformation.
A great many thought leaders and various publications talk about more or less the same four pillars of DT:
If done correctly, digital transformation can help companies reap the following benefits:
The main reasons that companies cannot successfully implement digital transformation in the workplace are: