10 forecasts on digital transformation:
Digital transformation is the application of digital technology to fundamentally impact all aspects of our society. As it pertains to an enterprise, digital transformation is the reinvention of a business or organization through the use of digital technology in order to improve the way it performs and serves its clients.
Organizations have been increasingly adopting the use of digital technologies for decades. Digital transformation may be thought of as the third stage of embracing them: from digital competence to digital usage to digital transformation, digital transformation emerges as a paradigm shifting trend that only occurs when perfectly aligned with other trends and advances that create the favorable conditions necessary for it to occur.
Just like digital transformation, these trends represent major opportunities in themselves as they create new markets and revenue streams or bring added value to existing ones. Through our analysts' views on digital transformation and its impact today, this first instalment of the IDTechEx Instant Insight series offers ten pieces of insight that will influence strategy, roadmaps and paths to profit.
1 - Cognitive Buildings
By Dr Harry Zervos, Principal analyst, IDTechEx Inc.
Same as watches, phones, and cities, buildings have evolved into smart incarnations of themselves, enabled by developments in sensing technologies, data analytics and connectivity. The next evolutionary step will give buildings additional situational and environmental awareness while learning computers and artificial intelligence will afford them decision making capabilities. Termed "cognitive buildings", they bring about not only additional control, features, and comfort to occupiers but also, new business models.
2 - Consumer electronics- digital transformation and the device desensitization of data.
By Mr James Hayward, Senior technology analyst, IDTechEx Ltd. and Dr Harry Zervos, Principal Analyst, IDTechEx Inc.
With increasing capabilities in acquiring, processing and analyzing data continuing to add value to it, additional revenue streams relating to data-driven services are becoming increasingly lucrative. James Hayward and Harry Zervos discuss effects such as device-desensitization and the emergence of holistic data services for users on multiple platforms.
3 - The convergence of physical and online retail
By Dr Harry Zervos, Principal analyst, IDTechEx Ltd
It is perhaps diminutive by now to describe Amazon as an e-commerce company; although that's where the $136 Billion company (Amazon's 2016 revenue) had its beginning, by now, Amazon's business also spans physical retail (with its acquisition of Whole Foods and its amazon go initiative) internet & connectivity, cloud computing, consumer electronics etc. Conversely, Walmart acquired Jet.com, in order to participate in online retail and offer additional options to its customer base. What does this diversification mean for the future of retail? Where do emerging technologies like beacons and ESLs fit in?
4 - Digital transformation and 3D printing
By Dr Bryony Core, Technology analyst, IDTechEx Ltd.
3D printing is the quintessential representative of digital transformation in manufacturing technology, allowing for the expansion of digital manufacturing paradigms into 3D shapes, enabling new form factors, applications in new sectors etc.
In advances similar to a Russian matryoshka doll though, digital transformation is already impacting the way 3D Printing is creating value and opportunities within the sector, a sector that's already a result of digital transformation itself! In a way, it's digital transformation within digital transformation.
Confused? Dr Bryony Core explains.
5 - Computational biology
By Dr Alexis Karandrea, Technology analyst, IDTechEx Inc.
The field of computational biology and bioinformatics is an incredibly interesting example that demonstrates the pervasive nature of digital transformation, especially since it gives new promise in global challenges such as cancer research and drug discovery.
Dr Alexis Karandrea discusses.
6 - Digital lateral flow assays & the advent of molecular diagnostics
By Dr Laura Baers, Technology analyst, IDTechEx Ltd
Due to a wealth of benefits lateral flow assays have seen widespread take-up since their commercial launch in 1977 as home pregnancy tests. Dr Laura Baers discusses their digitalization, the threat posed by Molecular diagnostics (MDx) and how it might impact their market uptake in the next decade.
7 - Powering personal mobile robotics
By Dr Lorenzo Grande, Technology analyst, IDTechEx GmbH
The rise of robotics is probably one of the most highly visible effects of digital transformation, with advances in algorithms having enabled new markets for static and mobile platforms. Lorenzo Grande discusses the next big market expected to open up as powering schemes for mobile robots continue to reduce in costs: personal robotics.
8 - Artificial Intelligence- towards the democratization of AIs
By Dr Xiaoxi He, Senior technology analyst, IDTechEx Ltd., Mr. Philip Trelford, CTO, IDTechEx Ltd, & Dr Harry Zervos, Principal analyst, IDTechEx Inc.
In an unexpected reversal of the sequence of developments in the field of Artificial Intelligence, the emergence of true AIs is only just being realized, despite early hopes as far back as the 1950s. Xiaoxi He, Harry Zervos, and Phil Trelford discuss features of the current wave of AIs, the democratization of Artificial Intelligence that's already underway, as well as related ethics implications.
9 - Quantum Computing: The next transformative paradigm
By Mr Philip Trelford, CTO, IDTechEx Ltd
The biggest race in 2017/2018 is not on the Formula 1 tracks, or in breaking the world record for the 100m sprint. It is demonstrating quantum supremacy, i.e. substantiating the claim that quantum computers can perform tasks that no current computers can. How close are we to seeing that happen? IDTechEx CTO Philip Trelford discusses.
10 - Concluding remarks on the social impact of digital transformation
By Dr Harry Zervos, Principal analyst, IDTechEx Inc.
The final forecast will purposefully remain open ended, as it discusses the topic of Universal Basic Income (UBI), that has found both supporters and skeptics from the world of innovation. Whether supporting or rejecting UBI, members on both sides are considered nothing short of instrumental in bringing about digital transformation today
- I - On mobile platform services
- II - On proximity marketing growth