Think back to the technology we were using only a couple decades ago in the early 2000s — the first camera phone was released along with the first iPod, Blu-ray was the newest high-definition way to watch movies, the world’s most popular video-sharing site, YouTube, first emerged. Crazy how far we’ve come, right? And when it comes to the ever-evolving technological advances that are to come over the next decade, it feels like the possibilities are endless, so let’s narrow in our focus on some of the digital transformation trends experts are forecasting to be most prevalent in 2020, according to a recent survey by MuleSoft.
- Connecting the consumer experience
There’s one thing we know for certain when it comes to doing business in the year ahead — customer experience is at the core of digital transformation initiatives and will continue to lead in importance. To stay competitive, businesses must create more personalized, connected experiences for consumers and be able to adapt to their changing needs. According to the survey, 71% of IT decision makers report customer experience as a top goal of their digital transformation initiatives, and 93% say delivering a relevant and reliable customer experience will be critical to their company’s overall performance two years from now.
- Data-driven business
In 2020, data will be king. Gathering and analyzing valuable data and breaking down data silos are also at the root of digital transformation initiatives in the year to come, and for good reason. In fact, 83% of IT decision makers report that data silos create business challenges in their organization, and 55% report that their organization planned to invest in big data/analytics in 2019. Data holds unlocked value that has the power to put your organization ahead of the curve, and those who prioritize big data initiatives will be leading the charge. The more data businesses can capture, the more they can improve customer service, streamline operations, innovate for efficiency and make smarter, analytics-based business decisions.
- Artificial intelligence and machine learning
Ah, artificial intelligence (AI) — there’s been some talk about technology like AI and machine learning in previous years, but in 2020, they will be almost impossible to ignore. And we’re not talking about The Terminator here; we’re talking about things like chatbots that greatly enhance customer and employee experience, and automating and simplifying workflows with technology that “learns.” According to the survey, 42% of businesses are currently using AI and 40% plan to adopt within two years. As a proven, effective tool for personalizing customer service, reducing human bias and automating tedious tasks, AI and machine learning should be in your organization’s line of sight for the coming year.
There are some big changes in store for the business landscape in 2020. One of the best ways to stay ahead of these digital trends, reap the benefits of new technological advances and future-proof your business is to incorporate AI-driven automation solutions into your operations. By eliminating manual workflows with an automation tool, you’ll be able to connect the consumer experience and provide highly personalized interactions, gather actionable data and track the most impactful KPIs for your business, and create an overall more streamlined, efficient organization with a strong bottom line and even stronger competitive edge for the next year and beyond.