Digital transformation is on the agendas of virtually all corporations today. It has risen to the top of strategic plans and has become the focus of businesses around the globe. So great an industry evolution, IDC indicates spending on technologies and services that enable the digital transformation of businesses will hit $1.97 trillion in 2022.
Artificial intelligence (AI) has a lot of people talking. The fact that those people no longer hail primarily from the world of science fiction is representative of just how far the ideas driving this technology have come. AI has entered the main stream, and it has the technology world buzzing with excitement.
The potential applications of AI are as vast and varied as any complex technology vision that has ever been brought to life. And in truth, that is where the real excitement lies—in finding out just how far we can take AI and in turn, how far it can take us.
Whether it is e-commerce, the Internet of Things (IoT), robotics or digitally connected global supply chains, food and beverage (F&B) manufacturers are investing in IT solutions in order to take advantage of innovative technologies and opportunities for growth. Unfortunately, in efforts to achieve a quick return on investment (ROI), companies often overlook a fundamental element that needs to be in place before true transformation can occur: workforce buy-in. Today we are sharing this article by Mike Edgett, Industry & Solution Strategy Director at Infor.
Start by putting the infrastructure in place to support a new way of thinking.
The growing enthusiasm for Artificial Intelligence (AI) is unquestionable and well documented. CEOs marvel at the potential of AI and deep learning to perform cognitive functions such as problem solving and reasoning – functions previously undertaken only by people.
Rather than making us redundant, all the evidence says that AI amplifies our potential. Infor’s Rick Rider explains how AI can make us better at being human.
This checklist provides nine elements critical to a successful digital deployment, based on a timely report by Constellation Research.
Immense amounts of data are flowing into and out of today’s businesses, but it's often difficult to know how to turn this data into actionable insights. Data science has incredible potential for businesses of all types to create models that find patterns in this data and use them as the basis for transformative software. From location sensor data and customer loyalty programs to predictive analytics that improve the customer experience, employee engagement, and operational efficiency, a world of possibility awaits organizations that can crack the data science code.
In the current hypercompetitive business environment, it’s not enough to automate processes and increase efficiency. To succeed, companies need to differentiate themselves from their competitors. But with the growth of digitally savvy customers who expect more from every transaction, it’s becoming increasingly difficult to differentiate on product alone. Customers are demanding a more personal, service-oriented approach from the companies with which they do business, and the bar continues to be reset at higher and higher levels. To meet this demand, and stay competitive, companies need to move from a transaction-based model to more value-based interactions. This means putting the experience first.
Digital transformation is on the tip of many tongues in the technology industry of late; but like many potentially seismic shifts, this concept’s meaning and the impact it will have on how day-to-day business gets done are taking some time to develop. CIO defines digital transformation as “the acceleration of business activities, processes, competencies, and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way.” But more than just acceleration, digital transformation is about the need for businesses to outpace digital disruption and stay competitive in a rapidly evolving business environment.
Every wholesale distributor faces increasing pressure to adopt a digital strategy for confronting massive disruption in the industry. Unfortunately, according to a recent survey by MDM, the approach most distributors take in developing an overall digital strategy is very reactive, with only 31% approaching their digital needs with a “comprehensive strategy that includes all types of software and solutions.” It’s time to think strategically about the technology that will determine the future of your enterprise.
Read these seven steps every distributor should take right now to develop a sharp, focused digital strategy: