A couple of years ago, digital transformation was a ‘good thing’ in an organization, though not many thought it was a ‘necessary thing.’ However, with the pandemic came a sea of changes in the global business landscape. To survive the storm created by the COVID-19, businesses had no other option but to adapt and accelerate their adoption of emerging technologies. Now, the digital transformation era has arrived. There are countless innovations for businesses to explore, from intelligent technologies such as artificial intelligence (AI) and machine learning (ML) to cloud-based platforms.
The number clearly shows where the world is headed. According to the World Economic Forum, USD 100 trillion will be added to the world economy through digital transformation by 2025. By 2025, interactions driven by platforms are expected to enable two-thirds of the USD 100 trillion value from digitalization. Statista states that the global investment in digital transformation is expected to double between 2022 and 2025 – from USD 1.8 trillion to 2.8 trillion.
Now, the question is not about whether you need to adopt digital technologies in your organization; it is about how quickly you can implement digital tools necessary to automate manual processes, shorten your sales cycle and deliver products faster than your competition. In fact, 91% of businesses are engaged in some form of digital initiative, and 87% of senior business leaders say digitalization is a priority, says Gartner. To help our readers understand more about digital transformation, we have come up with a special issue that features insights and ideas by industry leaders. We hope our efforts will help entrepreneurs in their digital transformation journey.