Source: CIO Magazine On:
In 2020, one of the most serious pandemics in history swept across the world. COVID-19 dramatically changed how people live, work, and create value. As such, it has driven the increasing convergence of the digital and physical worlds. It has also supercharged the digital transformation of industries, and thousands of industries are being reshaped, marking an epochal shift.
Digital transformation has entered a new stage of development, offering much-needed certainty in a climate of extreme uncertainty resulting from the resurgence of COVID-19 and a sluggish economic recovery. This new stage is defined by four trends.
First, digitalization is picking up pace and expanding into more industries. The first stage of digitalization was dominated by Internet enterprises. Today, traditional industries — such as manufacturing, education, healthcare, finance, transportation, and energy — are now also adopting 5G, artificial intelligence (AI), the cloud, the Internet of Things (IoT), and other new digital technologies, as well as developing new business models. According to IDC, by 2022, 70% of organizations will be using digital technologies to change their business processes and improve the customer experience, productivity, and resilience to foster sustainable development.