New-age technologies to redefine the customer experience

Digital transformation is defined and developed purely on the few selected users or customers feedback. I would say, Digital Transformation should start with the customer experience. The purpose of a business is to create a customer. Unfortunately, digital transformation efforts at companies across the globe often aren’t putting customers at the center of their endeavors. Instead, new technologies are being used to create operational efficiencies to reduce costs. A reports states that, digital transformation journey continues well into 2021, new-age technologies will play a crucial role in defining business functions, and subsequently, the customer experience.

Two-thirds of the CEO’s of Global 2,000 companies will shift their focus from traditional, offline strategies to more modern digital strategies to improve the customer experience before the end of the year - with 34% of companies believing they’ll fully adopt digital transformation within 12 months or less. This number is expected to increase to more than $2 trillion by 2022. As per IDC, 79% of companies admit that COVID-19 increased the budget for digital transformation.

We can says, Digital transformation is the integration of digital technology into all areas of a business, resulting in fundamental changes in how a business operates and the value they deliver to their customers. It is all about , changing the way a business interacts with its customers and how they provide their customers with a consistent experience whenever and wherever they need it.

There are technologies like, distributed Cloud, where organizations can get computation, storage, and networking in a micro-cloud located outside the centralized cloud. Edge computing is a very good example of distributed cloud technology. Distributed cloud computing establishes computing, closer to the end-user, thus enhancing security.The biggest advantage of distributed cloud is that it allows companies to diversify yet personalize their cloud strategy. Secondly, Hyper Intelligent Automation (HIA) is a technology born from the confluence of AI (Artificial Intelligence) and RPA, evolving from a conventional automation tool to a strategic enterprise game changer.

The most crucial technology is being adopted smartly by many global tech companies, without known to everyone that is Internet of Behaviors (IoB). IoB is an upcoming trend that we’ll hear more of in 2021. Companies and businesses are taking advantage of technology to monitor customer and their behaviors. They are using tools such as location tracking, big data and facial recognition to collect significant customer data to derive patterns and expectations. According to a prediction by Gartner, more than half of the global population will be under an IoB tool by 2025.

As digital transformation continuous, a new word coined that is Cybersecurity Mesh, here the organizations can access any digital security asset, irrespective of its location. The benefit of this technology is that it allows enterprises to place the security wall around individuals rather than the entire organization. The organisations that do transform digitally are creating highly engaged customers.

Dr. Deepak Kumar Sahu, Chief editor, VARINDIA