What Is Digital Transformation?
Digital business transformation is the process of exploiting digital technologies and supporting capabilities to create a robust new digital business model. Digital Transformation is not necessarily about digital technology, but about the fact that technology, which is digital, allows people to solve their traditional problems. And they prefer this digital solution to the old solution. Digital transformation helps the organization through integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It is also a cultural change.
Gartner predicts that by 2020, more than 30 billion devices will be connected to the Internet. The advent of digital business expands and evolves as the opportunities, threats and constraints of leveraging a business ecosystem. A digital business ecosystem is a marketplace of functions and information. It is a network construct whereby multiple value forms are exchanged for the benefit of all participants.
Digital transformation will look different for every company. Why digital transformation matters? There are a several reasons for a business may undergo digital transformation, but the most likely reason is also that they have to fight for survival and make their business future proof. Technology has driven this shift, and companies that want to succeed must understand how to merge technology with strategy. In this tutorial we will see what are the main top digital transformation trends which in turns gives you the details of best technology to learn to keep stay ahead in technology.
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Digital Transformation Trends 2019:
The future is going to be exiting and unpredictable. Currently most of the big companies are putting lot of efforts and research on new technologies. The Top 5 future technology predictions 2020 are :
Autonomous Things or Intelligent Things:
Most of the organizations are gathering information to build their AI strategies, The use of AI to enhance decision making, reinvent business models and ecosystems and increase the customer experience will payoff for their digital initiatives. Generally AI systems magically perform any intellectual task that a human can do and dynamically learn much as humans do at best. AI consisting of highly scoped machine-learning solutions that target a specific task that can be optimized.
Autonomous things abbreviated AuT, or the Internet of autonomous things abbreviated as IoAT, is an emerging term for the technological developments that are expected to bring computers into the physical environment as autonomous entities without human direction, freely moving and interacting with humans and other objects.Autonomous things such as robots drones and autonomous vehicles uses Artificial intelligence to automate functions previously performed by humans. As an eg: the autonomous car addresses the main existing safety issues and creates new issues. It is expected to be much safer than existing vehicles, by eliminating the single most dangerous element which is the driver. Intelligent things can respond to real world conditions automatically.Intelligent things use AI and machine learning to interact in a more intelligent way with people and surroundings.
Some other examples are Intel’s use of a drone swarm for the opening ceremony of the Winter Olympic Games in 2018 and a plan for Dubai to use autonomous police vehicles that can deploy their own drones for surveillance.
Digital Twins:
According to Gartner, a digital twin refers to the digital representation of a real-world entity or system.DTO (Digital Twins of Organizations) is a dynamic software model that relies on operational or other data to understand how an organization operationalizes its business model, connects with its current state, deploys resources and responds to changes to deliver expected customer value. Digital twin refers to a digital replica of physical assets (physical twin), processes, people, places, systems and devices that can be used for various purposes.
Below are few definitions of digital twins, Refer the WiKi link and Gartner link.
| Definition | Authors |
|---|---|
| “A Digital Twin is an integrated multiphysics, multiscale, probabilistic simulation of an as-built vehicle or system that uses the best available physical models, sensor updates, fleet history, etc., to mirror the life of its corresponding flying twin” | Glaessgen & Stargel, (2012) |
| “Coupled model of the real machine that operates in the cloud platform and simulates the health condition with an integrated knowledge from both data driven analytical algorithms as well as other available physical knowledge” | Lee, Lapira, Bagheri, an Kao, (2013) |
| “digital twin is a real mapping of all components in the product life cycle using physical data, virtual data and interaction data between them” | Tao, Sui, Liu, Qi, Zhang, Song, Guo, Lu & Nee, (2018) |
| “a dynamic virtual representation of a physical object or system across its lifecycle, using real-time data to enable understanding, learning and reasoning” | Bolton, McColl-Kennedy, Cheung, Gallen, Orsingher, Witell & Zaki, (2018) |
| “Using a digital copy of the physical system to perform real-time optimization” | Söderberg, R., Wärmefjord, K., Carlson, J. S., & Lindkvist, L. (2017) |
| “A digital twin is a real time digital replica of a physical device” | Bacchiega (2017) |
Digital twins integrate artificial intelligence, machine learning and software analytics to create living digital simulation models that update and change as their physical counterparts change. A digital twin continuously learns and updates itself from multiple sources to represent its near real-time status, working condition or position.
Blockchain:
What is blockchain : Blockchain is an encrypted, distributed computer filing system , it is a growing list of records, called blocks, which are linked using cryptography. Block chain certainly is real however may not be completely ready in 2018 for adoption in every industry. Blockchain is going to be technology that will make a real impact across industry sectors along with IoT. Blockchain is the invention from brain of a single person or a group of person know by pseudonym, Satoshi Nakamoto. Digital currency , Bitcoin is first majority used purpose however now industry is finding the potential use of it as technology. Blockchain is getting used in Cybersecurity, healthcare, financial sectors etc. for securing health records, control disease, patient data, cryptocurrency wallets.
Blockchain technology holds the promise to change industries, and although mosty we see often around financial opportunities. Blockchain has many potential applications in government, healthcare, content distribution, supply chain and more. However, many blockchain technologies are immature and unproven, and are largely unregulated.
How bitcoin works?
Bitcoin, probably the most well-known example of blockchain, records cryptocurrency transactions in a chain-of-blocks data structure where a block is a group of transaction records added every few minutes in a never-ending series. The ledger records the sequence of each transaction and every “coin” (virtual currency stored as information bits).
Immersive Experience:
Immersion into virtual reality is a perception of being physically present in a non-physical world. The perception is created by surrounding the user of the VR system in images, sound or other stimuli that provide an engrossing total environment.An immersive experience is an illusory environment that completely surrounds you such that you feel that you are inside it and part of it. Augmented reality (AR), virtual reality (VR) and mixed reality are changing the way that people perceive and interact with the digital world.Whether we are playing a video game on our smartphone, video conferencing on our tablet, or watching sports on our Virtual Reality (VR) headset Immersion enhances everyday experiences, making them more realistic, engaging, and satisfying on all our devices.
Over the next years the focus will be on mixed reality, which is emerging as the immersive experience of choice, where the user interacts with digital and real-world objects while maintaining a presence in the physical world.
Augmented Analytics:
Augmented analytics focuses on a specific area of augmented intelligence, using machine learning (ML) to transform how analytics content is developed, consumed and shared. Augmented analytics is the future of data and analytics. As per Gartner Augmented analytics automates the process of data preparation, insight generation and insight visualization, eliminating the need for professional data scientists in many situations.