Top 4 Digital Transformation Trends In High Tech Industries. By Daniel Newman

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Category: Industries Digital Transformation Published: Wednesday, 27 September 2017 12:01
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On Forbes: Although the concept of “digital transformation trends in high-tech” may sound like a redundancy, it’s far from it. Despite the millions of apps, service models, and artificial intelligence (AI) being developed around the world, there are only a handful of major companies that are currently using them—or attempting to develop them—to their fullest advantage. The following are my top picks for high-tech trends making a mark in the digital landscape. […]

 

 

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This week, I’m continuing the series looking at digital transformation trends in different industries like healthcareretailfinance, and media and entertainment. But today, I’m focusing on the high-tech companies leading the charge—companies like Google and Amazon, which continue to seek new and exciting ways to innovate for their customers when many businesses are just catching on.

Although the concept of “digital transformation trends in high-tech” may sound like a redundancy, it’s far from it. Despite the millions of apps, service models, and artificial intelligence (AI) being developed around the world, there are only a handful of major companies that are currently using them—or attempting to develop them—to their fullest advantage. The following are my top picks for high-tech trends making a mark in the digital landscape.

Artificial Intelligence

Artificial intelligence means lots of different things to different people. For some, it means the potential for personal assistants. For others, it means potential job loss or killer robots. For me, the top trend in AI is neither of those: it’s in machine learning and analytics. The top business value in AI today comes in the form of the data-backed insights today’s companies can use to better serve their customers and their own business goals. Companies like Netflix and Amazon have massively capitalized on the strength of AI to personalize their communications and marketing promotions for customers. Based on customers’ past buying patterns, Amazon can recommend products—or even regular automated delivery—of products customers frequently purchase. Based on viewer preferences, Netflix recommends shows its customers might never have heard of—serving as a personal curator of TV and movie viewing. The power of personalization is priceless in digital transformation, and will likely be one of the major powers separating industry winners and losers in the years ahead.

Of course, new trends in AI, such as Amazon’s drone technology and Uber’s self-driving cars, are also exciting. But for me, they’re not yet far enough along, to be considered business trends.

Virtual Reality and Augmented Reality

Lots of companies are jumping into the world of VR and AR, but it takes an intense focus on customer experience (CX) to find true business value in these quickly evolving technologies. Some of the biggest players in VR and AR might be surprising. For instance, Facebook leads in corporate acquisitions with 11 purchases via one of its subsidiaries. Its goal: to incorporate VR into social media. One of the coolest and most addictive new technologies combined with one of the most addictive social media sites—seems like a match made in business heaven. I can only imagine the potential for ad revenue when AR and VR are possible on the site. […]


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ABOUT THE AUTHOR

I am a principal analyst of Futurum Research and CEO of Broadsuite Media Group. I spend my time researching, analyzing and providing the world’s best and brightest companies with insights as to how digital transformation, disruption, innovation and the experience economy are changing how business is done. Bringing together the technology layer with the human layer, I seek to solve the biggest challenges that companies have today; how to grow, scale, change and adapt to a world where technology and media shift at breakneck speed. So what does this mean? It means that I spend my life learning about what drives people to adopt new technology so I can share those secrets with companies that are ready to take their business to the next level. From keynoting on the world’s largest stages to weekly insights on Forbes, Entrepreneur and our Blog, my goal is to provide our clients with what they need to know to out innovate and turn disruption from threat, into a business model for success.

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