Artificial Intelligence (AI) technology has a momentous impact on the corporate world. This futuristic technology can take the user experience to a new level while streamlining the core processes effectively. Conveniences like voice assistants, personalized recommendations, and suggested reading are based on AI.
As a vital aspect of a digital transformation solution, AI impacts all the major industries ranging from finance to healthcare.
AI has already revolutionized the ways people work and live. Let’s understand how AI will reshape core industry sectors with its tremendous capabilities of bringing advancements in workflows.
Even with the accelerating rollout of new digital tools and platforms, organizations don't often find success, or even fulfillment, when it comes to the digitalization of their businesses.According to 2018 Gartner research, nearly nine in 10 senior business leaders say their companies prioritize digitalization, yet two-thirds of transformations are unsuccessful.
Data from McKinsey shows that only 16% of executives said their digital transformation initiatives were succeeding — due in large part to employee resistance and lack of managerial support.Over the years, the idea of transforming into a digital business has been massaged and stretched so much that it can be hard for organizations to fully imagine their digital destination.As the CMO of a company that offers business and technology transformation services, I believe that for organizations to take advantage of disruptive technologies like IoT, AI and robotics in the name of increasing profit or realizing new revenue streams, they must recognize that existing digital business approaches have been largely unproductive.
PwC research suggests that while companies are making budget cuts, they're protecting digital transformation budgets ahead of other areas.If companies want to truly enable digital business with that spend, they should understand the nuances of digging deeper, changing in short spurts, and creating new opportunities from existing assets.Transformation requires practitioners, not just experts in new technologies.Enterprises often enlist the help of experts in particular technologies, software or language to guide their digital transformation decisions.
These experts' knowledge is usually a mile deep and an inch wide — that is to say that their knowledge of their niche is bottomless, but their application experience within a particular industry might be rather narrow (or sometimes nonexistent).
The model I've seen work time and time again for the largest global enterprises is focusing on collaborating, iterating and creating solutions with their digital teams and business partners.They should look for team members who can step back and comprehend the bigger picture, can understand the pain points of the customer and are well-positioned to solve them.Also Read : Digital Transformation ServicesTransformation is not a singular, big-bang event and doesn't have to be expensive (really).If someone were to tell me they were going to completely and radically change my business to accelerate growth and income, and it wasn't going to be expensive or take very long, I'd be skeptical.
You should use a bite-sized, incremental approach to deliver results and greatly lower implementation risk.When business and IT leaders collaborate in short sprints, I've found that it creates faster and less costly results.
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Therefore, the manufacturers are needed to educate themselves on how to streamline the digital shock-wave in the production and ongoing product use Digital transformation solutions in discrete manufacturing unit face 4 major challenges:1.
Trust and compliance-Does the current security protocol integrate well with the new digital wave?2.
Now, it’s time to unveil the 5 digital solutions that are sure to shape the future of the digital manufacturing unit.
Let’s explore 10 key technologies that are to revamp the discrete manufacturing players over the next 5 years.List of 5 digital solutions that every discrete manufacturing unit should possess in 20211.
Adopt the holistc approach in optimizing the value chainDigital manufacturing companies are at the leverage of incorporating digital solutions at any point in their value chain with ease.
These units can incorporate digitalization in manufacturing during the stage of production engineering, product design and planning, production execution and more.
Digital transformation in the Indian Pharmaceutical sector is not new, it has started a decade ago.
With full-fledged vaccination administration in the process and with a self-sufficient agenda for redefining the business model, it becomes important for India to reevaluate its current role in the global pharmaceutical market.
We were privileged to have the stalwarts from the pharma sector, Lion Daara B Patel, secretary-General of the Indian Drug Manufacturers’ Association (IDMA), Salil S. Kallianpur, founder and MD of ARKS Knowledge Consulting Pvt.
and Dinesh Chindarkar, Co-founder of MediaMedic Communications.Harnessing the technology for providing a tailored solutionDuring the pandemic, the pharmaceutical sector has re-focussed its in-person dealings to virtual.
“By deploying machine learning analytics, HCPs treat mental ailments based on tracking, correlating, and scoring three factors – cognitive function, clinical symptoms, and brain activity.”As the Indian Pharmaceutical industry grabs digital transformation, scenarios accompanied by increased usage of advanced technology will see a rise in precision medicine in the next few years.
According to Salil, “the concept of time and distance has gone away” as we are going through digital transformation.
