Fundamentally, we can see Digital Transformation is disrupting every industry. It is complete transformation season for all services, business, products at a very unexpected rapid pace and organizations are struggling to cope-up with this fast growing trend.
During this Digital world – where mobile and IoT has been an accepted part of normal life, organizations started working on change in their mindset, vision, strategy, team development and all that needs to go with the speed of transformation.
Here we included few of such Digital Transformation technologies that would disrupt our day-to-day business, life and the like.
Artificial Intelligence (AI) and Machine Learning (ML), Robotics
A recent study shows that there would be 25 to 30 percent human jobs replaced by machines across US in three years time. When you look at, this is a big number and in three years means, even bigger than anticipated. AI & ML combined will make humanoid machines and bot systems doing almost all work soon.
In the same context, industrial robots deployed worldwide will increase to around 2.6 million units by 2019 according to IFR (International Federation of Robotics). This is one million units more than in the record-breaking year of 2015. Around 70 percent of industrial robots are currently at work in the automotive, electrical/electronics and metal and machinery industry segments and there is a very strong increase in Electronics Industry compared to others.
Future mobile, laptop, Television and all gaming consoles would be AR or VR enabled devices making virtually you see and enjoy your presence and participation from one or many locations. Many companies already invested and started focusing on introducing AR / VR based user experience products and services.
Using Virtual Reality, soon one will be able to travel and present across other part of the world. Augmented reality would change the way we treat patients at hospitals, conduct researches, gaming, customer experience, etc
Big Data and Analytics
There are Billions of users on internet with each one using multiple apps and having individual preferences. Our profiles are unique each one and likes or dislikes vary between us. More than 5 billion people are calling, texting, tweeting and posting pictures, browsing mobile devices worldwide. This also means the amount of data systems need to hold, process and generate, report should be capable, stable and expandable.
Let us look at few more statistics to understand why Big Data and Analytics is one of the disrupting technologies that would impact and grow in 2017. There are about 2.7 Zetabytes of data exists in today as per Markettechblog. Facebook stores, accesses and analyzes approximately 30 and more Petbytes of user generated data and you can visualize how big that would be. Walmart handles more than 1 million customer transactions per hour from imported data sources into database, and this database contains approximately 2.5 petabytes of data.
Our paradigm of Infrastructure to Applications to User got changed – now all are inter connected and dependent in the digital world. Because of this Big Data because our need of the transformations.
Customer Experience & Devices
Due to the emerging technologies and its capabilities, customer expects fast, reliable systems that goes beyond the level of their expectations fulfillment. Everyone wanted an experience surprise and intuitive, empathetic view the device and apps that they use. More than use of these applications and devices, they started focusing more towards their experience.
Companies that focused Customer Experience has their key philosophy considered to be outperforming in global markets. In S&P Index, as on 2015 they have outperformed by 219% over last 10 years. This is an extraordinary progress and achievement. In another study, it also shows that 71% of companies that foster Customer Experience have created 10 times of their asset compared to others. By understanding this importance, many organizations started creating Executive Level or CEO Support level designations to focus on design and customer experience focus. Nike’s CEO is a designer and Apple has a senior vice president for design.
It is inevitable such Customer Experience providing devices will further evolve. And Digital technologies will scale up to meet those expectations.
Internet of Things (IOT)
We started seeing them already part of our life, helping to improvise wherever possible. IOT will further grow – from Lawn Movers to Refrigerators, Coolers too Car parking management. Healthcare to Automobile, Home appliances to Banking – many devices going to interact with us directly and making us control and manage systems, products, services more effectively.
Study shows that, by 2020 the amount of Internet Connected Things will reach to 50 Billion and with a $19 trillion in profits and cost saving will come from IOT in 5 to 10 years time. If you dont want to look that long, in another two years companies will ship 1.9 billion Internet Connected Things with an expected revenue of $490 billion.
There are further revolution and disruptions are happening and expected such as, Cloud Computing, Automatic driving cars, Drones, Space travels, Levitate Commuting, etc. These areas are disrupting the industries horizontal and vertical across all service lines, product lines and users directly. What you think would impact you personally and professionally? Share your comments below.