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Digital Business and Opportunities- An SIDTM Faculty Review

Digital Business and Opportunities

The digital business in India and across the world is increasing at the highest rate. It is affecting various industries and sectors. Digital Transformation is mainstream for organizations with a focus on adaptability and continuous learning. Evolving digital technologies like IoT, AI and cloud computing are at the core of digital transformation and can be leveraged to reach new heights by the organizations. For example, Chief Executive Officer of Infosys Mr. Salil Parekh states that Infosys is targeting to earn half of its revenue from the digital portfolio or digital technology solutions. There are various providers of digital services/solutions which include top companies such as Infosys, TCS, Accenture, and IBM, etc. This revenue growth also exciting the company’s top executive to hire talents for the strategic attainment of digital capabilities. The attrition in a few companies is creating a need for talent in digital space.

Ample Opportunities in Digital Space

To reap the benefits of these ample opportunities, the challenges associated with this should also be addressed. The challenges may be to ensure required training to workers and achieve efficiency in digital technologies and agile delivery processes. For digital leaders, it is not difficult due to their adaptive and collaborative culture. Legacy enterprises also replicating digital transformation by rebuilding organizational agility and progressing in delivering digital experiences to their customers. Organizations pursuing digital transformation wishes to expand their reach and customer engagement which helps them to remain competitive in the current market.

IOT, AI. Cloud Computing, Data Analytics, and Machine Learning are leading

IoT, Artificial Intelligence, Cloud computing, Data analytics, and machine learning are just a few examples of innovative digital technologies that can transform the business trajectory in the new digital world. It is crucial to have the right technology to gear up digital strategies in the current business scenario. The interesting thing about digital transformation is that it is being driven by customers who are known as an always-connected customer. To keep up with this “always connected” customer the organization must hold the right technology to deliver a unique customer experience. Organizations are ready to strive to be flexible and to adopt a new focus area to accelerate their ROI.

Organizations also emphasizing market exposure to find expertise for their digitalization projects and collaborating with other companies for the talents which they don’t have. We can say digitalization is not merely about making business more efficient but having the potential to transform the business completely.

By

Prof Pankaj Pathak

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    Dr. Sandeep Prabhu

    Good read!

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