Going Digital: The Change that Matters in Today’s Business Landscape

The world today is undeniably digital, and that’s no news anymore. Digital is transforming our personal lives, businesses, and communities, helping us live, work, and do business better, innovate, and solve urgent problems.
Any business that truly wants to thrive in today’s business landscape cannot ignore digital technology. Going digital has a lot more benefit than most business leaders are aware of. Going digital is the unlocking of numerous business opportunities, higher performance, and huge ROI for businesses that effectively transform digitally.

Everyday, we now rely on digital devices, technologies, and services that didn’t exist just a few years ago. The way we work has changed too. The most successful organizations are highly digital, nimble, relentlessly finding new ways to create value for customers and consumers, employees, and broader society.
Right now, banks are adopting digital technologies and services in response to changing customer needs and the evolution of financial services market. Farmers are increasing the quality, quantity, sustainability, and cost effectiveness of agricultural production and resolving issues such as climate change, limited supply of water, fossil fuels, and rising demand for food, because of digital.
Large companies are improving operational efficiencies and optimizing all areas of their business, from manufacturing to the supply chain by augmenting existing manufacturing processes, products and people with digital technologies such as artificial intelligence, data analytics, and cloud.

Technology
New technologies, such as cloud, artificial intelligence, and connected devices, can help us live better lives, empower businesses to solve problems and operate efficiently, and build advanced societies.

Cloud
The cloud is the on-demand availability of computer system resources, especially data storage and computing power, accessed through the internet. In simple terms, the cloud allows you to rent instead of buy your IT. Rather than investing heavily in databases, software, and hardware, companies opt to access their compute power via the internet, or the cloud, and pay for it as they use it.

Modern applications and business services based in the cloud allow multiple people in different locations to work on the same document simultaneously.

There are several trends pushing businesses – across all industries – toward the cloud. For most organizations, the current way of doing business might not deliver the agility to grow, or may not provide the platform or flexibility to compete.

Artificial Intelligence
Artificial intelligence, or AI, refers to the simulation of human intelligence in machines that are programmed to think and act like humans. Artificial intelligence uses computer algorithms to make decisions, often based on data gathered from sensors or other real-time sources. For example, retailers use AI to predict which products to stock in each location even before customers begin shopping.

Connected Devices
Connected devices are physical objects that can connect with each other and other systems via the internet. For example, electric companies use connected devices, such as smart meters in homes and businesses and sensors throughout the power grid, to reduce outages and better balance supply and demand.

Conclusion
Going digital will increase an organization’s value – monetary and non-monetary. Digital can improve the customer experience and employee satisfaction, while it increases sales and reduce costs and risks. Digital can dramatically reduce manual work, giving staff and the organization more resources to innovate and delight customers. Go digital!

Author: Babajide Duro-Emanuel is the CEO of THEACOM Limited, a Nigerian-based IT services, consulting, and business solutions company committed to enabling people and businesses for optimum performance through unparalleled services and world class solutions.