Technology is developing at such a rapid pace, allowing for rapid change and growth in all industries. However, the past eighteen months has been different. The Covid-19 pandemic has changed the way many people work and interact with organizations, products and services. It’s true that people are still in the center of all business, however the rapid speed at which our society is moving is encouraging companies to adopt digital models. It is becoming increasingly clear that “we need digitalized processes to function in today’s environment” (Gartner, Panetta).
No one could have predicted this pandemic outcome: According to Forbes Magazine “The last 6 months alone have produced more digital transformation than seen in the last decade” (Forbes). What does this mean for businesses? It means staying current with new technology trends and knowing how to adapt to new business models. Here we present 4 major trends that are helping businesses both large and small excel during the Covid-19 pandemic.
Artificial Intelligence and Big Data
We're living in a world where we need to make more real-time decisions. Things are evolving so rapidly that companies are looking at streaming analytics and analyzing data in real-time. This is changing our world by bringing in AI capabilities to automate this data capture. This is called Internet of Behaviors. Now companies have the ability to highlight important trends in real time, allowing them to influence behaviors and acquire a competitive advantage in their industry. As organizations improve the amount of data they capture, they are also combining data from different sources through AI capabilities. AI is also helping companies address the economic reality of recessions by providing valuable, sharable information and streamline business processes. This is transforming organizations and is helping them to modernize and reimagine their business processes for the future.
COVID-19 has shifted where employees, customers, suppliers and organizational ecosystems physically exist. Location independence requires a technology shift to support this new version of business. Total experience combines the customer experience, employee experience and user experience to transform business outcomes. Today and in the near future, companies will face ever-increasing levels of complexity and uncertainty. However, many believe that Enterprise Architecture (EA) can help organizations navigate these complexities by aligning business and IM/IT efforts, improving business processes, and integrating / eliminating information silos. This allows businesses to act decisively to changing market dynamics and properly manage governance, risk and compliance. The need for collaboration across organizations is increasing, with businesses moving toward digital transformation and using IT and AI capabilities to do so.
Robotics, Automation & Drones
Many companies are realizing there has been a vast economic cost due to the Pandemic. The world economies are facing a recession. Businesses and organizations have been forced to think about how they can automate and streamline their business operations, for maximum efficiency. Companies like Amazon are using robotics to automate warehouse processes as well as providing delivery services using drones. Robotics are being used to ensure health and safety measures. When employees at an industrial site returned to the workplace, sensors or “RFID tags were used to determine whether employees were washing their hands regularly, and computer vision determined if employees were complying with mask protocols” (Gartner). These are just a few examples of how rapid technology deployment is being used to assist business operations as we navigate through the Covid-19 pandemic.
Faster Networks and 5G
Work processes have changed. People are working from home; they are using video to communicate with colleagues and moving in unprecedented number to on-line buying. There has been a huge spike in demand for these services over the past eighteen months. This is driving a push for faster networks for optimal connectivity and 5G is a key enabler to this. 5G will mean that we have powerful fast connectivity between devices allowing us to streamline and analyze data at a much faster capacity.
CloseReach and the Digital Bridge
Organizations can keep pace with the future, realize new efficiencies, and engage in new ways of working in an environment where everyone can contribute towards shared success.
The key to success is a “digital bridge” connecting management, business operations, and IT.
A bridge to drive digitalization, manage compliance, mitigate risks, reduce operational costs, and improve performance. QualiWare X is the digital bridge - an industry leading, easy-to-use business/enterprise architecture software tool that helps organizations connect and align management, business operations and technology goals and outcomes. Optimize services, processes, resources, and systems. Improve effectiveness and collaboration, increase profitability, and lower total cost of ownership.
Discover the digital bridge to future success. To learn more visit www.closereach.ca or contact CloseReach at DigitalBridge@CloseReach.ca.