The COVID-19 pandemic has emphasized the need for companies to be prepared and adaptable to technological advancements and digital transformations. Even as the pandemic recedes, however, digital transformation trends like remote work are here to stay.
To remain competitive, organizations must be ready to adapt quickly by designing resilient technology ecosystems. Here are the top five trends related to digital transformation for 2023, according to industry experts at Bronson Technical Search.
1. Cloud Technology
The explosion in cloud services is one of the top digital transformation trends for 2023. Organizations of all sizes will continue to fast-track their cloud migration strategies through 2023.
The cloud provides a level of flexibility and scalability that is particularly useful during times of uncertainty – a key theme for 2023. Because cloud resources can be easily accessed and scaled up or down as needed, businesses and organizations were able to quickly respond to changing demand and workloads during the pandemic.
Additionally, as remote and hybrid work become entrenched in organizations across Canada, companies must invest more in cloud-based services and tools that support remote collaboration. These tools and services, such as video conferencing platforms and collaboration software, are typically accessed through the internet and do not require users to install any software on their computers. This made it easier for people to work remotely and stay connected with their colleagues.
Finally, the increased reliance on digital technologies during the pandemic led to a greater demand for cloud-based storage and computing resources. Many businesses and organizations need to store and process large amounts of data remotely, and the cloud offers an easy and cost-effective way to accomplish this.
2. The Hybrid Work Model
With a major shift to work-from-home for countless industries during the pandemic, it is no longer the norm for many to head to a 9-5 office job.
Working from home during the pandemic led to increases in productivity and a better work-life balance for many. It showed that it is possible to get as much, if not more, work done without having to commute to the office.
Although many companies are implementing RTO policies, many employees are still actively seeking positions that do not require their in-person attendance five days per week.
Offering flexibility in working arrangements is one of the most important differentiators for employers looking to win the race for tech talent in 2023.
3. Increased Investment in AI and ML
Advances in the field of artificial intelligence have dominated much of the news cycle in the last couple of years, from OpenAI’s popular ChatGPT, launched in November 2022, to tales of AI-generated art winning competitions.
Organizations across Canada are investing in AI to develop critical business insights from massive data sets collected from mobile apps, smartwatches, and other Internet of Things devices.
By investing in machine learning algorithms and other AI techniques, organizations can automate routine tasks and free up human workers to focus on more complex and creative tasks. This can improve efficiency and productivity, and potentially lead to cost savings.
Overall, the importance of AI in Canada’s digital economy is expected to continue to grow in 2023 and beyond as organizations increasingly adopt AI technologies to improve efficiency, personalize experiences, and develop new products and services.
4. Transparent Privacy Policies
With a shift to digital, many are apprehensive with tech giants and “the cloud” having a hold on their personal information. In fact, a recent study by Cisco finds 86% of consumers care about data privacy and want more control over how their data is used. This emphasizes the importance of digital transparency among companies, users, and customers alike.
In 2023, we anticipate companies will take bigger steps to make their privacy policies more transparent and easier for consumers to understand. This includes using plain language and providing detailed explanations of how data is collected, used, and shared.
In addition to increased transparency, companies are also giving consumers more control over their data, including the ability to opt out of certain data collection practices or to delete their data.
Overall, it is absolutely essential for large organizations to remain transparent and responsive to consumer concerns about data collection and privacy. This can help to build trust and foster long-term relationships with customer, and in the case of governments, citizens.
5. Blockchain Technology
Blockchain technology, often associated with cryptocurrencies, can also be used in a number of business applications.
Blockchain is a distributed database that allows multiple parties to securely store and access data contained within immutable records. It has the potential to transform many aspects of business, and offers a number of benefits including increased security, improved traceability, and enhanced transparency.
Designed to be secure and resistant to tampering, data stored on a blockchain is encrypted and can only be accessed by authorized parties. This makes it an attractive option for storing sensitive data such as financial transactions.
Using Digital Transformation Trends to Tackle Uncertainty in 2023
During periods of uncertainty, digital technologies can enable organizations to respond more quickly to changing market conditions and customer needs. They can also provide new opportunities for innovation and the development of new products and services.
It is essential for leaders at all levels of organizations to understand emerging digital transformation trends, and what kind of an impact they will have on their industry and their role.