Top Six Digital Transformation Trends that will Rule in 2023
Delivering the promise of a tech-enabled and digitally-sound business is a model that most companies struggle to deliver today. As CIOs look forward to overcoming building pressures to improve user experience, grant more secure and sustainable solutions, and enhance employee experience, we help you understand where to invest, how to define your business ambition, design your approach, and orchestrate sustainable change.
From automation to hybrid cloud, frictionless digital experience to decentralized finance, some of the core themes that are set to rule digital transformation trends in 2023 are explained in our blog. So let’s take a look at our list of what every business must ready itself for in 2023 when it comes to digital transformation trends.
Forbes describes the metaverse as “a more immersive digital world.” While some may think of it as just Augmented Reality/ Virtual Reality (AR/VR), it is also about blockchains and decentralization. A world-renowned futurist, Bernard Marr says, “The term web3 is closely linked to various ideas of what the metaverse will be and is used to describe what many are calling a decentralized web.”
The Sandbox is a decentralized, community-driven platform, one of the finest examples of the metaverse. The Co-founder and COO of the company, Sebastien Borget considers The Sandbox one of the most advanced metaverse platforms to date. Immersion, 3D content, and platforms like The Sandbox are set to rule the digital transformation trends in 2023 and beyond.
Artificial Intelligence and Cybersecurity
Milind Wagle, EVP & CIO of Equinix opines that cybersecurity and artificial intelligence will continue to drive opportunities for businesses across industries, especially since the technology is becoming more decentralized and accessible. In 2023, a strong focus of AI would be on workforce augmentation, which means allowing employees to navigate the change around remote and hybrid work cultures by leveraging new tools.
Another form of AI in business to watch out for would be synthetic content. This means that a business harnesses the power of AI to create entirely new kinds of content like images, information, and sounds that have not existed before.
Frictionless Digital Experience
By tapping into the power of data, and smart APIs, and then driving an action that would enhance employee and customer experience is what is needed for a frictionless digital experience. Ellora Sengupta, VP & Head of Business Technology, Procore believes that designing customer and employee journeys through engaging, connected and frictionless digital experiences would be essential for CIOs.
To enhance productivity, it is imperative that businesses provide an intuitive, simple, and connected experience. All this would become even more important as more governments are interested in creating smart cities and smart countries that offer connected experiences such as smart homes, and intelligent and automated check-ins at airports, and hospitals.
Hyper-Automation and Hyper-Cloud
Automation can drive growth, enhance productivity, and generate cost savings during economic uncertainties. One example of this is Salesforce’s suite of automation technologies, which allowed its customers to save more than 100 billion hours every month. In 2023, however, automation is not enough. Organizations must take hyper-automation initiatives at the enterprise level with a more strategic approach.
“In the year ahead, I will also be looking to see more focus on hyper-automation – where organizations rapidly identify, vet solutions, and automate as many business processes as possible,” says Lisa Davis, SVP & CIO, Blue Shield of California.
The technologies which are already built are no longer supported at just the cloud level. Hyper-cloud requirements are needed, which means that organizations must fully automate the provisioning of infrastructure, storage, networking, and computing.
DeFi is largely known to be driven by the rising need for individual control and ownership over personal finance. NFTs or Non-Fungible Tokens are digital assets based on blockchain technology, and they are the drivers of this trend. NFTs can completely change the way investing and transactions are done. DeFi is highly innovative and allows shared or fractional ownership. This technology also opens up a range of possibilities and opportunities for the finance industry.
Future Lies in Delivering Total Experience or TX
In 2023, organizations will have added pressure to deliver a seamless employee and customer experience to drive growth, generate more revenue, and seek customer loyalty. Organizations will hence, look to create a holistic digital experience that delivers TX or total experience encompassing not just customers, but also employees. There will also be a focus on resilient and agile outcomes with more focus on integration and automation.
If you are prioritizing a total experience through advanced tech stacks in 2023, speak to us and let us create a roadmap for a successful digital transformation of your business.