Why do digital transformation efforts fail?

Posted by Christina James on April 29th, 2021

The rush of the new digital age technologies has compelled companies to go with the latest changes. With numerous technological advancements coming on the way, it is pretty hard to keep up with the pace. Artificial intelligence, machine learning, the internet of things, augmented reality, virtual reality are the trending technologies.

There is no doubt that technological advancements have helped businesses and industries to perform better. It has improved operational efficiencies and reduced the cost of operations. Many of the complex, time-consuming tasks are simple and easy now. 

For example, the attendance marking system has changed from signing the logbook to biometrics. It has saved a lot of time and made the task a lot easier. Likewise, many procedures go simple with the help of digital transformation.

Significant industries like retailing, manufacturing, etc., are looking for options to improve operational efficiency. According to researchers, AI helps in enhancing operational efficiencies in multidimensional methods. AI has stolen the hearts of people. In the blog, we will see how the AI-driven digital transformation happens and how it will help the industries become more efficient.

How Can it Fail?

Digital transformation can be of great advantage to the industries. But if not executed in the right way, it can create chaos. Let us look into some of the technologies. If used wrong, the digital transformation can fail.

Robotic Process Automation (RPA)?

To answer the question of what is rpa, it is a kind of software that performs daily, repetitive tasks. With the help of RPA, the user needs not to spend time serving the regular, time-taking, repetitive tasks. The RPA will perform it. It is of immense help when it comes to data entry.

Also, regular activities like time card management can be performed by RPA. It can mimic the task and do it in a better and more efficient manner. RPA can help small industries to focus more on the revenue-generating task. Human power can go into more creative and logical activities. If proper training is not provided to the employees or the software used is not good enough, it can be a failed transformation.

Artificial Intelligence 

Artificial Intelligence was always identified as something that belonged to the future, but it is not anymore. With the cloud computing power getting less expensive, even small companies can take full advantage. There is going to be a significant increase in the demand for AI-induced solutions by organizations.

By 2021 AI will be very much utilized in workspaces and companies as they have accepted the technology benefits. The advantage is not just for high-end companies but also for small businesses. Data Processing, face recognition, and much more have become possible with the help of artificial intelligence.

5G Networks

Gone are the days when video conferencing and calls were in a while happening. With work from home happening, people have to deal with all these daily. The essential thing for all these to happen is a strong network. The telecom giants are building massive structures for 5G superhighways. 

Increased bandwidth and reliable internet have become an essential daily part of our lives. Even with kids attending school online makes it even more significant. It also means most of the family members need a high-speed internet for their daily activities. So 5G has to become real.

Quantum Computing

Quantum Computing is still in the development phase; it still has ways to go until used widely. But the pandemic has brought quantum computing to the forefront. It has helped in managing the spread of the disease and also in developing potential vaccines. With the help of quantum computing, we can analyze, monitor, and act on data quickly.

The tech giants like IBM and Honeywell have played a significant role in upbringing quantum computing and close to traditional computing. The trajectory of digital transformation and the pace with which it was developing has changed tremendously with the pandemic. The digital transformation trends have changed a lot.

Natural Language Processing

Natural language processing is the process of developing systems that can understand and process human languages. Speech recognition tools are perfect examples of natural language processing. It can help the organization as for the HR department; it can help analyze the candidate profiles.

Our smartphones come with voice assistants that utilize natural language processing. It has become an essential part of our daily lives. It is yet another revolutionary digital trend that is happening now. The scope of more advancements in the field of natural language processing is going to happen for sure.

In a NutShell

The digital world took a very sharp curve in 2020. The last few months have witnessed one of the most revolutionary times for the digital world. Technology made us keep going forward even when the whole world went on lock-down. It has given a highly positive shift to digital transformation. More digital trends are to come up in the following years.

The digital transformation in the banking sector has made ordinary people's lives a lot easier and smoother. With the arrival of digital wallets and online banking, you no longer have to carry around money. Even for small transactions, you can use digital wallets and online payment services. 

With the coming of digitization came a different sect of crimes too. Digital fraud is becoming more and more common these days. So the banking sector has to adopt more sophisticated techniques to guard the resources.