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The pandemic and economic uncertainty may have caused uncertainty and apprehension, but in the digital world, progress continues to move forward at a rapid pace. Both consumers and businesses can now experience, share, and do more than ever, thanks to the convenience and flexibility of online platforms. The trend towards non-linearity and fluidity can be seen in various aspects of our lives, such as the increasing popularity of non-linear video games and the decline of traditional linear TV. This non-linear and fluid approach to technology and innovation is crucial for success.
In today’s rapidly evolving digital landscape, it’s crucial to adopt a continuous and simultaneous approach to product development that involves ongoing discovery, decision-making, and delivery. This approach helps to push your vision forward and allows for constant iteration and improvement of your product. It’s essential to trust in this process, as change is the only constant in the digital world, and embracing Digital Acceleration is critical to thriving in this environment.
To successfully navigate this landscape, it’s essential to have a strong design team, quality software and user feedback. Additionally, ongoing market research and staying up-to-date on trends are crucial to fueling this creative process. To stay ahead of the curve and become a leader in the digital space, it’s essential to remain informed about the latest trends and developments. Experts predict that the following trends will drive Digital Acceleration in 2023:
5 Digital Acceleration Trends To Follow
1. Harnessing The Power Of AI And Automation For Business Success In 2023
In the face of economic uncertainty, businesses are looking for ways to optimize efficiency, reduce costs, and drive growth. One solution that is becoming increasingly important is harnessing the power of AI and automation. By incorporating these technologies into their strategies, companies can achieve several benefits, including:
- Increased scalability: AI and automationcan help businesses overcome bottlenecks caused by a lack of human resources. Businesses can scale up quickly by automating specific tasks, especially if built on a virtual cloud infrastructure. Automation also frees employees to focus on more creative work, driving innovation and reducing burnout.
- Improved operational efficiency: By augmenting human jobs with AI and automation, businesses can achieve efficiency gains, improve productivity, and eliminate manual errors. These technologies also support process standardization and data consistency, critical components of continuous process improvement.
- Enhanced problem-solving capabilities: AI can be trained on high-quality data to capture deeply hidden patterns, identify optimal solutions, and support decision-making. These insights can lead to innovative approaches and new opportunities.
Businesses must incorporate AI and automation into their strategies to avoid falling behind. According to a recent McKinsey Global Survey, 70% of organizations are steering automation technologies in one or more business divisions or functions, up from 57% in 2018. By leveraging the power of AI and automation, companies can stay competitive and succeed in the digital age.
2. Adopting Low-Code And No-Code Development For Increased Agility And Efficiency
Once businesses have addressed cost and business process optimization, the following priorities will likely be agility and efficiency. Low-code and no-code development tools are designed to help companies achieve these goals. The use of these tools is expected to rise dramatically in the coming years.
No-code development platforms allow businesses to create software and applications using WYSIWYG editors and drag-and-drop components without coding. This enables developers and non-developers to design business processes and fully functioning workflow applications at scale, significantly reducing the time and money spent on development.
Low-code solutions also provide similar benefits in terms of time, cost, and complexity reduction, but with the added ability to build more customizable apps with greater functionality. As a result, many companies are adopting low-code development to accelerate innovation and enhance competitiveness.
According to Gartner, more than 65% of apps will be developed using a low-code visual environment by 2024. Adopting these tools can help businesses to stay competitive, improve efficiency, and drive innovation in the digital age.
3. Optimized Digital Work In 2023
The match for top talent is fierce, and in 2023, it will be challenging. Business leaders must stay ahead by addressing the talent shortage and evolving employee expectations. The pandemic has caused many workers to reassess their priorities, leading to what some have dubbed the “Great Resignation.” This trend highlights the importance of offering a positive digital employee experience, including the ability to work remotely.
But let’s be honest; it’s not just about offering remote work options; it’s about optimizing the digital work experience. This means providing the tools and resources for employees to be productive, engaged and connected, no matter where they work. It means giving them a sense of purpose, belonging and support. It means fostering a culture of innovation, experimentation and learning.
In short, it’s about creating an environment where your employees can thrive, not just survive. So if you want to win the talent war, you better start optimizing your digital work now.
4. Focusing More On Cloud Services
Unsurprisingly, cloud-based solutions and services will continue to be a key trend for Digital Acceleration in 2023 and beyond. Moving to the cloud offers a variety of well-documented benefits, including lower costs, excellent reliability, and enhanced security. However, to fully realize the potential of Digital Acceleration, cloud services are a good option and a necessary one.
Cloud services enable agility and a faster time-to-market by making resources available to developers when needed, allowing enterprises to respond quickly to changes in the market and drive rapid experimentation. Additionally, cloud services support innovation by offering a range of services, from basic infrastructure capabilities to advanced functionality such as quantum computing and natural-language processing. This efficient scalability allows businesses to adapt quickly to changing needs.
In summary, cloud services are crucial for digital acceleration in 2023 and beyond; they can help businesses increase agility, drive innovation, and adapt to changing business needs. Companies prioritising adopting cloud services will be better positioned to thrive in the digital era.
5. Strengthening Cybersecurity Measures In The Digital Age
Cybersecurity is a top concern for businesses in the digital age, especially considering the risks linked to the current geopolitical situation and the staggering data breach cost. The volume of cyber attacks has been on the rise globally, with a triple-digit increase observed year over year. And let’s be honest; there’s no slowdown in sight. Threats range from basic malware and phishing attempts to more sophisticated attacks such as denial-of-service and SQL injection, and high-profile cases continue to make headlines.
Look at recent incidents like the massive data breach at Australian telecoms giant Optus, where malicious actors exposed private data from 10 million accounts, causing immeasurable reputational damage and pressure on the company’s market share. Or big names like Revolut, Uber, and Samsung, who have all fallen victim to data breaches in 2022. It’s clear that the stakes are high, and companies can no longer afford to ignore cybersecurity.
Governments have taken notice and are taking action by introducing regulations and strengthening existing safeguards around technology, cybersecurity, and data privacy. GDPR, CCPA, and PSD2 are just the beginning. The next round of regulations will certainly force an increased interest in cybersecurity for companies that still need to engage fully. So, don’t be left behind; it’s time to step up your security game.
Building Resilience Through Digital Acceleration
As we enter 2023 with an uncertain future, it’s more important than ever to keep technology at the centre of your strategy. While cutting back on innovation in the short term may be tempting, this would be a significant mistake as your competition is unlikely to do the same. Research from McKinsey shows that companies that prioritized innovation emerged stronger post-crisis in past crises, outperforming the market average by more than 30%. Therefore, digital acceleration is the key to achieving your goals, whether to grow and dominate the market or reduce costs and maintain your position. It is essential to prioritize digital acceleration to build resilience in the face of future uncertainty.
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