All of the new digital transformation trends are fueling a spending spree to respond to the digital future. From AI and automation to artificial intelligence and machine learning, these startups are integrating digital assets with their product and service offerings to drive greater customer retention, lower expenses and increase market share. While many of these efforts have their own risks, together they provide a great example of how a combination of different digital transformation efforts can collectively drive better ROI. Here’s a look at six ventures that are adding new digital transformation strategies while also capitalizing on the fast-paced industry:
AI-driven digital transformation
This decade has seen an uprise in technologies such as artificial intelligence and machine learning, but these technologies are not yet able to integrate with digital assets and offerings. As such, many brands are exploring how they can reduce the complexity and effort involved with digitally implementing AI-based solutions. This includes new product development and product marketing initiatives, as well as new ways to integrate AI technology into existing business processes.
This has also led to a proliferation of digital transformation efforts across the gaming and media industries. For example, online platform development and marketing automation are now at the center of digital transformation efforts in these industries. Major players in this space, including Facebook, Google, and Twitter, are increasingly leveraging AI to automate and automate critical business processes. Additionally, these companies have also begun exploring how these technologies can be used to support real-time content and ads, as well as other digital assets, across their platforms.
Data-driven digital transformation
Digital transformation is based on data, and data analysis is central to this process. A great example of data-driven digital transformation is Facebook’s efforts to add “like” functionality to its products. Prior to the introduction of “like” functionality, users had to manually share each post and interaction with the service. After the addition of “like” functionality, the process was automated, with a single central server managing a large number of individual posts and shares.
Data-driven digital transformation also applies to brands that want to stay competitive in the contemporary digital gaming environment. For example, an AI-driven game might help a brand optimize its existing digital strategy so that it better understands its target market and how they use digital assets. This can make the difference, for example, in convincing potential customers that you actually care about their problems and issues.
Machine learning and AI
Machine learning and AI (ML and AI) are increasingly being used to model and train information. This increases the efficiency and accuracy of regular digital transformation efforts by increasing the amount of data that needs to be collected and analyzed to discover new insights. For example, an AI-driven digital transformation strategy might collect data about online shoppers to discover new insights about which products are most in demand. By breaking down the data into smaller, more actionable pieces, such as product reviews and sales data, machine learning can easily understand the distributed data and generate better conclusions.
Machine learning is only as ancient as AI is today, so most of the research and innovation that takes place in AI and machine learning takes place in the context of small, specific experiments. While most of the research and innovation taking place in AI and machine learning is centered on understanding the current state of play, much is being done to adapt to the digital transformation challenges that will arise in the future. For example, AI and ML technology may one day be used to create a complete digital brand strategy that evaluates potential partners, offers marketing strategies and evaluates products to find the best fit.
Digital marketing automation
Digital marketing is perhaps the most rapidly growing field in marketing. The most important challenge in this field is creating digital strategies that are constantly being evolve. To digitally adopt today’s technologies requires both a digital transformation strategy and a digital strategy that includes digital marketing automation. Digital marketing automation helps you execute strategy with the least amount of digital transformation effort. By creating in-house digital campaigns that you manage, audit trail and monitor, digital marketing automation enables you to automate common tasks such as paid media, brand management and brand development.
Automated business process
As digital transformation efforts expand, so too does the need for a standardized, consistent digital strategy. This needs to be matched by an established digital strategy that contains elements that will work across different digital transformation efforts. To make this happen, digital transformation efforts need to adopt a standardized digital strategy that contains elements that will work across different digital transformation efforts. As such, many companies are teaming up to create a standardized digital strategy that contains elements that will work across different digital transformation efforts.
As this process unfolds, different industries will experience different zeitges. For example, customer acquisition is likely to be the leading challenge in business transformation in North America for several years to come. However, due to the rapid adoption of AI and other machine learning technologies, the need for a standardized digital strategy has today’s leading digital transformation companies racing to put digital transformation on the map as a key digital strategy.
Softwaredefined digital transformation
Digital transformation can often be a two-way street. On one hand, digital transformation efforts might drive better customer retention and growth through improved brand image and improved products and services. On the other hand, digital transformation efforts can also impediment future digital transformation efforts by creating a barrier between the digital platform and the customer. For example, if a business’s digital strategy includes an aggressive goal of driving 100,000 customers per month to their online store, then a digital transformation effort might reduce the time it takes for those customers to make the purchase from two to three days.
This can have a huge impact on the retailer’s bottom line. If potential customers are not able to purchase a product or service from a brand that they have previously purchased from, then their experience during the purchase may be negatively impacted. This might include incorrect or incorrect information being provided about the product or service, or a lack of clarity about the terms and conditions of the purchase.
Conclusion
Digital transformation efforts are a key differentiator among the digital industries. By leveraging digital transformation efforts to drive better customer satisfaction and ultimately drive greater revenue, a brand can create a better experience for customers while increasing brand awareness and/or brand reputation. The need for a digital transformation strategy has grown significantly as digital transformation technologies have become more advanced. With this in mind, it is important for businesses to evaluate their digital transformation efforts and take action to respond to the changing digital landscape.
