2017 Digital Trends

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Digital transformation reshapes every aspect of a business. As digital technology continues to evolve, I believe that successful digital transformation will require careful collaboration, thoughtful planning, and the inclusion of every department.

During recent years, we’ve seen shifts in how traditional leadership roles operate, as silos break down and the scopes of various roles widen and change. Digital transformation has morphed from a trend to a central component of modern business strategy. Following are the enlisted major trends that will capture the gist of what is to come in 2017. 

DIGITAL PLATFORM VIEW OF BUSINESS

A platform provides the business with a foundation where resources can come together — sometimes quickly and temporarily, sometimes in a relatively fixed way — to create value. The value comes largely from connecting the resources, and the network effects between them. As digitalization moves from an innovative trend to a core competency, enterprises will understand and exploit platform effects throughout all aspects of their businesses.

  • The deepening of digital means that lines are becoming increasingly blurred, and boundaries semi porous — both inside and outside the enterprise — as multiple networks of stakeholders bring value to each other by exploiting and exploring platform dynamics
  • CIOs are clearly being given the opportunity to lead a digital transformation that exploits platform effects majorly in managing delivery, talent and executing leadership

Detailed Analysis can be found here:

https://sameerdhanrajani.wordpress.com/2016/12/18/sameer-dhanrajani-key-win-themes-to-master-in-digital-business/

THE ADVENT OF IMMERSIVE CONTENT:  AUGMENTED REALITY AND VIRTUAL REALITY

The booming success of the Pokémon GO AR app is a wakeup call to any business that hasn’t evaluated the potential of AR and VR. These technologies were once limited to the gaming realm, but they’re now easier to implement than ever before. The mainstream shift toward AR and VR provides new ways to connect with customers and offer unique, memorable interactions.

  • The AR and VR resurgence will open up the gates for workplace gamification in a big way into a core business strategy
  • 2017 is also going to mark a turning point in the way audiences interact with and consume video content through the releases of the HTC Vive, Oculus Rift, PSVR etc.
  • Significant improvements in immersive devices as well as software is anticipated

Detailed Analysis can be found here:

https://sameerdhanrajani.wordpress.com/2016/05/27/sameer-dhanrajani-retail-industry-redefined-through-data-sciences/

SMART MACHINES AND ARTIFICIAL INTELLIGENCE ARE TAKING OFF IN A BIG WAY

 Our relationships to technology continue to evolve. Soon machines will be able to learn and adapt to their environments. While advanced learning machines may replace low-skill jobs, AIs will be able to work collaboratively with human professionals to solve intensely complex problems.

  • Data complexity is the top challenge standing in the way of digital transformation
  • AI tools will evolve to read, review and analyze vast quantities of disparate data, providing insight into how customers feel about a company’s products or services and why they feel the way they do
  • using AI to expedite knowledge-based activities to improve efficiency and performance will spread from reducing costs through automation, to transforming customer experience

Detailed Analysis can be found here:

https://sameerdhanrajani.wordpress.com/2016/12/01/sameer-dhanrajani-how-machine-learning-and-ai-will-drive-digital-transformation/

https://sameerdhanrajani.wordpress.com/2016/11/18/sameer-dhanrajani-banking-evolution-using-ai/

GROWING IMPORTANCE OF THE USER EXPERIENCE

The customer experience (including employees) is the ultimate goal of any digital transformation. Customers are more cautious than ever; they’ll turn away from brands that don’t align with their values and needs. A top-notch user experience is a fantastic way to keep customers involved and engaged with your brand.

  • Every touch point matters, and those leading the transformation will strive to constantly ask how they are removing friction and enhancing the experience for every customer regardless of where they are in the journey
  • Understanding digital consumers’ biases, behaviors and expectations at each point along the customer journey will be at the heart of every successful digital transformation

Detailed Analysis can be found here:

https://sameerdhanrajani.wordpress.com/2015/07/24/sameer-dhanrajani-how-to-bring-about-a-customer-experience-focused-digital-transformation/

https://sameerdhanrajani.wordpress.com/2016/12/18/sameer-dhanrajani-key-win-themes-to-master-in-digital-business/

BLOCKCHAIN’S DISRUPTIVE GROWTH

What Uber did for on-demand auto transformation, Blockchain will to do for financial transactions. And with $1.4 billion in venture-capital money in the past three years, 24 countries investing in Blockchain technology for government services, 90-plus central banks engaged in related discussions, and 10 percent of global GDP to be traded via Blockchain technology by 2025-2027, it is important that marketers understand the potential implications for their business.

  • Blockchain technology will majorly be a part of the next great flattening and removal of middle-layer institutions
  • The semi-public nature of some types of Blockchain paves the way for an enhanced level of security and privacy for sensitive data – a new kind of database where the information ‘header’ is public but the data inside is ‘private’
  • Data analytics using Blockchain, distributed ledger transactions and smart contracts will become critical in future, creating new challenges and opportunities in the world of data science

Detailed Analysis can be found here:

https://sameerdhanrajani.wordpress.com/2016/06/21/sameer-dhanrajani-data-sciences-fintech-companies-for-competitive-disruption-advantage/

DIGITAL TRANSFORMATION DRIVEN BY THE INTERNET OF THINGS (IOT).

 Speaking of how invaluable big data is to marketers, the IoT offers immeasurable insight into customer’s mind. Businesses and customers alike will continue to benefit from the IoT. With an estimated 50 billion IoT Sensors by 2020 and more than 200 billion “Things” on the Internet by 2030, it is no question that IoT will be not only transformative, but disruptive to business models.

  • IoT will change how daily life operates by helping create more efficient cities and leaner enterprises
  • The staple tech for autonomous systems would be the Internet of Things (IoT) which would be the infrastructure, as well as the customers, since they work, interact, negotiate and decide with zero human intervention
  • Real-time streaming analytics will collection, integration, analysis, and visualization of IoT data in real-time without disrupting the working of existing sources, storage, and enterprise systems

Detailed Analysis can be found here:

https://sameerdhanrajani.wordpress.com/2015/09/25/sameer-dhanrajani-real-time-streaming-analytics/

https://sameerdhanrajani.wordpress.com/2014/07/16/making-sense-of-the-iot-phenomenon-extracting-value-transforming-business/

API ECONOMY

We live in an API economy, a set of business models and channels based on secure access of functionality and exchange of data. APIs will continue to make it easier to integrate and connect people, places, systems, data, things and algorithms, create new user experiences, share data and information, authenticate people and things, enable transactions and algorithms, leverage third-party algorithms, and create new product/services and business models.

  • An industry vision seeks using APIs to turn a business into a platform involving digital business models
  • As the Internet of Things (IoT) gets smarter, things using an application programming interface (API) to communicate, transact and even negotiate with one another will become the norm

Detailed Analysis can be found here:

https://sameerdhanrajani.wordpress.com/2016/02/12/mr-algorithms-the-new-member-in-the-board-room-to-discuss-algorithm-economy/

http://www.gartner.com/smarterwithgartner/welcome-to-the-api-economy/

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