Digital Transformation Guide
COVID-19 | The Change Catalyst No One Saw Coming
A Call for Digital Transformation Initiatives
In this "Digital Transformation Guide": Emerging Technologies that can Foster Innovation
- Increase manufacturing output and efficiency by integrating industrial robots into the workflows and prepare them to perform labour-intensive and routine tasks
- Improve customer services using virtual assistant applications that provide real-time support for a variety of services
- Optimize logistics using AI-powered solutions to monitor the supply of goods including weight, temperature, and real-time location
- Market and advertise effectively by tracking user behaviours and automating routine marketing tasks
- Greater flexibility and more customized designs: Consumers have a desire for personalization of designs. 3D printing is a process that enables manufacturers to experiment with product designs in a highly flexible manner
- Scalability, from prototyping to production: 3D printing provides scalability from prototyping to full-scale manufacturing.
- Reorganizing the supply chain and normalizing digitization: 3D printing techniques are enabling distributed manufacturing. Also, manufacturers can connect the physical supply chain with a digital thread and manage products more efficiently.
- Delivery couriers that deliver goods to customers without requiring human intervention. Due to this, drones are gaining a lot of popularity among food delivery businesses.
- Inspection of existing and new infrastructure development and maintenance in a fast, cheap, efficient, and safe manner
- Grow and globalize their operations
- Maintain quality relationships with suppliers, internal teams, investors and customers
- Boost productivity by focusing just on the tasks at hand
- Save time by avoiding the need to commute for business meetings
- Reduce travel and accommodation costs
- Promote better collaboration by bringing teams together
- Fast Transactions: Business can process transactions globally within a few minutes.
- Enhanced trust among customers: Customers only need to share their temporary encrypted codes, instead of their credit card numbers. It establishes trust with customers
- Expanded reach to international customers: Digital currencies facilitate the mitigation of economic fluctuations and increase revenue
- Low transaction fees: With no requirement for intermediaries, businesses and customers pay a much lower fee by using digital currencies
AR and VR (Augmented Reality and Virtual Reality)
- Healthcare: Doctors can visit patients remotely for diagnosis, which is a critical requirement considering how much they are at risky today due to the Covid-19 pandemic
- Retail: Customers can use AR to sample products in real-life settings. A variety of ecommerce applications already exist that have AR features that enable shoppers to try spectacles and furniture
- Real Estate: Real estate businesses have an opportunity to showcase their properties in a more engaging way so interested buyers can thoroughly evaluate them
- Streamlined remuneration: Hassle-free payments to employees through cryptocurrencies
- Supply chain communications: Real-time tracking of products throughout the supply chain from the point of origin to end-consumers
- Cloud storage: Utilization of distributed cloud storage solutions with incentive mechanisms
- Money laundering protection: Encryption-based blockchain solution to combat counterfeiting and money laundering
- Scalability: It is easy to manage unpredictable demand for data storage and processing with cloud computing service providers like AWS and Microsoft Azure
- Cost Savings: Cloud computing enables businesses to cut down on IT infrastructure costs by providing pay as you go options. You only pay for the data you consume
- Better security: Leading cloud computing service providers have robust security mechanisms in place so the security of your data is the least of your worries
- Increased collaboration: Opportunities to work 24/7 with business partners without any information sharing limitations
- Remote patient monitoring: Checking a patient’s health after being released from a hospital
- Live video conferencing: Virtual spaces for doctors to meet patients “face to face” for medical appointments
- Medical information sharing: Providing a secure platform to share medical information among healthcare providers
Pramod Dhakal is a Tech entrepreneur at heart, a natural leader, an Agile practitioner, and a Digital Transformation provoker. He has spent over a decade implementing various large-scale transformation initiatives in large multinational organizations. He is an author and contributor at Hitechies largely in the technology space. Pramod is an active investor in cryptocurrencies and he is extremely positive about the future of the decentralized digital economy.