Digital transformation (DX) is undoubtedly one term that not just IT geeks but everyone else must have come across, at least on several search engines. DX is not another subject that shines and dies on an online search engine. It is here to stay until most IT companies leverage all the technologies that pull them out of the vicious trap of legacy IT systems.
Two technologies are constantly making digital transformation a reality:
- Convergence Technology
- Disruptive Technology
A true digital transformation is the systemic change of processes and movement from siloed departments to platforms that spread across the enterprise to enrich customer experiences. In other words, it is successful only with a true convergence of people, processes, and technology, a transformation from within.
Statistics suggest that by 2025, over 90% of business interactions may happen without human involvement. This suggests that digital transformation will significantly affect the future of work.
DX uses digital technologies to improve performance or reach new markets radically. It involves rethinking how work gets done to be more agile, efficient, and effective.
While both convergence and disruptive technologies are essential enablers of enterprise digital transformation, they each serve different purposes within DX initiatives.
How does Convergence Technology act as a driving force for Digital Transformation?
With rapid technological advancement, many things are constantly popping up to make our lives sophisticated. Two decades ago, when mobile phones phased into the market, they were just fascinating little devices aimed at dialing and receiving calls from distant places. Today, mobile phones are much more than what they were earlier. Technology has brought the internet and mobile together to provide us with a different experience.
What do we call this significant difference? Any idea? Well, it’s the trending buzzword convergence technology.
In simpler words, when two different technologies are clubbed for an unmatched experience, we tag them under convergence technology.
Business leaders must clearly understand DX and its potential impact on their organizations. Only then can they make the necessary changes to stay ahead of the competition. A crucial part of DX is convergence technology which means bringing disparate systems and silos into a unified whole.
How Disruptive Technology acts as a driving force for Digital Transformation?
Diverse systems or technologies that are advancing toward similar objectives, when coming together, forms convergent technologies. When they are integrated, they converge to produce new efficiencies.
In the past, the leaders in video broadcasting were Cable TV and Blockbuster. The latter lost out on the chance to benefit from the novel disruptive Technology that would ultimately replace it. The world’s most prominent video streaming firm, Netflix, attempted to partner with Blockbuster but failed. And then what? You are undoubtedly aware of Netflix’s expansion and 200 million+ user base, as well as the demise of Blockbuster.
How was this possible? Disruptive Technology
Disruptive Technology has a heroic role to play in digital reality. Anything innovative that replaces the legacy system can rightly be tagged as a disruptive technology. As these disruptive technologies become more prevalent, businesses must stay ahead of the competition and adopt them into their operations.
Doing so will improve efficiency and give them a competitive advantage in their respective industries. Disruptive technologies are initially adopted by those willing to experiment with evolving tech innovations – but eventually, they become mainstream as they offer significant advantages over the existing technologies.
A few critical disruptive technologies are driving this change:
● Blockchain : Despite its mild decline recently, Bitcoin is a contentious cryptocurrency with enormous potential. This has been entirely replaced by blockchain, representing several cryptocurrency-based applications in addition to the single cryptocurrency that Bitcoin focuses on.
Blockchain is a disruptive technology that will change the game. It is undoubtedly expensive but gives immense scope for your data to be secure and transparent. Once your information is recorded, nothing can alter it.
Giant companies that understand the merits of blockchain are leveraging this technology. Sooner or later, when blockchain becomes affordable to even SMEs, it’s sure to replace the existing corporate database.
● Internet of Things (IoT) : The Internet of Things is a game-changer in the digital transformation of IT services. Connecting devices and machines allow for more effective decision-making and efficiency.
Internet of Things (IoT) and digital transformation go hand in hand. Any device connected to the Internet becomes part and parcel of IoT. The healthcare industry is one of the first to use IoT technologies best.
With the help of tiny gadgets, healthcare professionals can continuously monitor the patient’s health and even get alerts in case of an accidental fall, etc. Earlier, patients would have to call and elucidate the situation or rush to the hospital regularly for checkups. Now, IoT is used across various industries for better connectivity. IoT is undoubtedly a path-breaking technology that finds a special place in disruptive technology.
● Cloud Computing : The cloud is a big part of many people’s lives. Most use cloud-based services daily, from Netflix to Amazon, Google to Apple. So, what is the cloud?
In simple terms, cloud computing delivers computing services, including servers, storage, databases, networking, software, analytics, and intelligence over the Internet (the cloud) to offer faster innovation, flexible resources, and economies of scale. It’s one of the most popular digital transformation IT services.
Cloud computing is bringing disruptive transformation across industries. According to Gartner, by 2024, cloud-based solutions will account for over 45% of IT spending on system infrastructure, infrastructure & application software, and business process outsourcing.
Technology is used to develop new or different company procedures, services, or goods through digital transformation. It’s about using technology to do things better, faster, or differently.
Digital transformation is a journey, not a destination. And it’s one that every business needs to be on if they want to stay competitive in today’s marketplace. The good news is that several technologies can help companies along the way.
The convergence of disruptive technology has much potential to transform enterprises. Now that cloud, IoT, and blockchain are trending technologies, it is the need of the hour for every company to leverage these technologies for seamless operations. Techwave, a leading digital transformation partner, can assist your enterprise in the digital journey. Please write to us at firstname.lastname@example.org for more information.