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Shravan 1
Shravan 1
of business, fundamentally changing how you operate and deliver value to customers. It’s
also a cultural change that requires organizations to continually challenge the status quo,
experiment, and get comfortable with failure. Here’s an in-depth look at digital evolution:
The journey of digital evolution began with the digitization of analog information.
Businesses started converting physical records into digital formats, which was the first
step towards a digital economy. This phase was characterized by the creation of systems of
record (SOR) such as customer relationship management (CRM) systems and electronic
health records (HER), which allowed for easier access to information and data-driven
decision-making.
As technology advanced, the focus shifted from mere digitization to digital transformation.
This involves using digital technologies to transform services or businesses, through
replacing non-digital or manual processes with digital processes or replacing older digital
technology with newer digital technology. Digital transformation can involve many different
technologies but the hottest topics currently are cloud computing, the Internet of Things
(IoT), big data, and artificial intelligence.
Digital disruption occurs when new digital technologies and business models affect the
value proposition of existing goods and services. Think of how streaming services disrupted
the traditional media industry or how e-commerce changed retail. Companies that fail to
adapt to this new era risk becoming obsolete.
The future of digital evolution is likely to be characterized by even more integration of AI,
automation, hybrid cloud, and other digital technologies. This will capitalize on data and
drive intelligent workflows, faster and smarter decision-making, and real-time response to
market disruptions. It will also change customer expectations and create new business
opportunities.
In conclusion, digital evolution is an ongoing journey, not a destination. It’s about using
technology not just to replicate an existing service in a digital form, but to use technology to
transform that service into something significantly better. It requires a combination of the
right technology, strategic direction, and organizational culture to continuously evolve in a
world where the only constant is change.