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December 13, 2022
Aaron Tan Dani
Digital transformation is not a new concept, but it never stopped evolving. It has transformed our lives and the way we interact with each other. We have gone from being consumers to creators in this digital era. The future of digital transformation is about how we will use technology to create value for society and business. Yes, digital transformation is still relevant in 2023. In fact, it has become even more important in recent years as businesses continue to rely on technology to improve their operations, increase efficiency, and better serve their customers. With the rapid pace of technological change, it's essential for businesses to continue to evolve and adapt in order to stay competitive. This often involves implementing new digital technologies and processes to streamline operations, improve communication and collaboration, and enhance the customer experience. Digital transformation refers to a growing trend in which companies are embracing digital technologies in order to enhance their business processes overall, as well as the customer experience. The term has broad application, but in the context of business, it refers to the extent to which an organisation has adopted new digital technologies into their operations in an effort to streamline processes, improve margins, and accelerate growth. Business model transformation refers to changes to the organisation’s overall structure as they begin taking advantage of digital technologies. By streamlining and automating the digital transformation process, organisations can make sure that they are harnessing the full potential of the new technologies that they are investing in. Successful digital transformation requires understanding not just of new technologies capabilities, but of evolving customer and employee demands, as well as of an organisation’s overall direction. Digital leaders are speeding up the pace at which they invest in technology, and applying technology strategically to drive business transformation. Looking forward to the coming year, it is clear that digital technologies will continue to play an integral role in the strategies and successes of businesses. Gartner forecasts that, by 2023, 90% of enterprise strategies will specifically mention information as key corporate resource and analytics as a key capability. According to Top Business Tech, retailers that have already evolved to digitise their businesses will enjoy customer loyalty benefits and increased revenues, whereas those who do not jump on the bandwagon will have difficulty competing with and impressing customers.  
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