THE CHALLENGES THAT BUSINESSES FACE TODAY OWING TO DIGITAL TRANSFORMATION
The rapid acceleration of digital technology is changing the way in which people do business. The world is evolving into a digitalized era and companies are undergoing digital transformations. Companies now need to rethink their business strategies in order to meet the evolving needs of customers and survive in this new digital era owing to the rapidly changing market conditions. Businesses now consider technological change a necessity to maintain their standing in comparison to their competition.
Digital initiatives are leading the way in business yet are accompanied with a multitude of challenges. They are not necessarily operational or technological challenges every time, but a cultural change in the way in which society operates.
Digital transformation is still a complex issue. Transformation initiatives often require constant experimentation and evolving business strategies.
An area that is already at the forefront of digital transformation is Artificial Intelligence.
The challenges that businesses face are quite significant. Companies need to shape organizational culture with the needs of the consumer. Changing cultures requires a proactive response to ensure changes are implemented thus resulting in a change in digital culture.
CONSUMERS EXPECTATIONS UPDATE DRAMATICALLY AND ARE FORCING BUSINESSES TO CHANGE THEIR BRAND STRATEGY.
Consumers are now making decisions differently and are more empowered with every decision they make. For example, the rise of mobile devices and services helps consumers choose products to buy what they want and quickly. Strategies must be revised to cater to consumer needs instead of company needs.
DIGITAL TRANSFORMATION – EXPECTED TO CHANGE ORGANIZATIONAL STRUCTURE AND EMPLOYEE ROUTINES.
Businesses must drive collaborative, cross-channel engagement with suppliers and partners. Employees also have a vital role to play within brand innovation, but employees sometimes do not have the knowledge and skills necessary to cater to evolving customer interaction needs. Employee roles need to expand so that they able to collaborate with the business and its brand. Focus on re-skilling, cultivating and retaining the existing workforce.
Organizations build around certain technologies with procedures to support, technologies such as Robotic Process Automation (RPA), a powerful form of Artificial Intelligence technology that performs manual, time-consuming, rule-based office tasks more efficiently. The difficulty is for employees to accept digital change and to become accustomed to new management techniques. Companies must include and engage employees with the transformation to bring balance between technology success and workforce skills generation.
A scalable digital transformation roadmap, that is agile, communicative and embraces Artificial Intelligence, is what’s needed.
ADOPT. DISTRIBUTE. EVOLVE.
PAI-TECH is a technology company that simplifies digital adoption through the power of intelligent bots. PAI-TECH has created the world’s first Bot Operating System Standard which helps to improve the way in which the business operates including changing the organization and employee culture. The development of a BOT Operating System Standard helps to improve company efficiency including the reduction of human error and increase productivity, reduces company costs, promotes scalability, quality and works with real-time data for live interaction and analytics.
So, what does this mean? It means companies with this technology can integrate responsibilities in Finance, HR, Marketing and Customer Support. The vision of innovation is delivering a new operating standard to deliver on evolving customer expectations, efficient practice and new markets.
BUSINESSES NEED TO ADAPT AND NEED TO ADAPT NOW.
The likes of Amazon, Netflix, and Apple are all setting an example of digital, and the benefits are significant if implemented correctly, including growth and better customer experiences. Failing to adapt to become digital simply means falling behind.