The COVID-19 disruption has forced brands to restructure and redesign their strategies to meet and respond to the unprecedented challenges of the new normal. The pandemic has not only fast-tracked digital transformation but also put employee health and safety at the center of business operations.
"The unprecedented socioeconomic challenges of 2020 demand the organizational plasticity to transform and compose the future." Brian Burke, Research Vice President, Gartner
Gartner’s top technology trends highlight the upcoming technologies that businesses must focus on for driving innovation and building future resilience. These trends are grouped into three broad categories, namely people centricity, location interdependence and resilient delivery. In our blog, we discuss how businesses can leverage these trends to drive scalability and strengthen their position in the market.
People Centricity: These technology trends lie at the heart of digital revolution that has penetrated the masses globally and has become an imminent need for people. These trends reflect how people centricity will continue to be the primary goal for businesses in years to come. Internet of Behaviors (IoB), Total Experience and Privacy-Enhancing Computing form a central part of people centricity group.
Location Independence :
COVID-19 has put new demands on businesses in terms of the place and geography they would normally function with shifting location needs of customers, employees, suppliers as well as the organization itself. These technology trends will support the growth of systems that will help businesses handle the new ways of working in the post COVID world. Distributed Cloud, Anywhere Operations and Cybersecurity Mesh form part of location interdependence group.
Resilient Delivery :
These technology trends have direct underpinnings from the year of crisis in 2020. These technology trends will help businesses to become resilient to face any future disruptions and sustain their growth velocity even in the face of a crisis. Intelligent Composable Business, AI Engineering and Hyper Automation form part of Resilient Delivery group.
Espire's Customer Engagement Hub (CEH) includes all key enablers of excellent Customer Experience (CX) - such as Digital Content Management, Experience Design, Customer Communication Management, Customer Analytics, CRM and IoT.
Let’s discuss these strategic trends in detail to understand their implications on business sustainability and growth:
Trend 1 : Total Experience
Total experience combines the experiences of people in one umbrella term that incorporates customer experience, employee experience, multi-experience and user experience that helps business drive revenues and outcomes. Total experience subsumes the overall experience where technologies are aligned and conjoined to improve the experience of both customers, employees, and users. Gartner places total experience as a competitive differentiator by tightly linking all these experiences together rather than improving them in silos.
Gartner predicts that by 2024, organizations providing a total experience will outperform competitors by 25 percent in satisfaction metrics for both customer and employee experience.
Trend 2 : Privacy-Enhancing Computing
Privacy has become both a sensitive and popular issue as new regulations and checks are forcing organizations to remain more alert about privacy concerns of customers. The idea is to help people research and collaborate in a secure environment without sacrificing confidentiality. New methods like differential privacy, homomorphic encryption and trusted execution environments are now being offered for delivering privacy. Privacy-enhancing computation protects data in use and ensures secrecy or privacy of users unlike data-at-rest security control measures.
According to Gartner, half of large organizations will implement privacy-enhancing computation for processing data in untrusted environments and multiparty data analytics use cases by 2025.
Trend 3 : Distributed Cloud
Growth of edge computing, newer regulations and data residency requirements have reduced the load of central clouds to a more distributed environment as computing takes place at different geographical locations, while the operation, governance and evolution of the service still remains the responsibility of the public cloud provider. Distributed cloud being physically closer helps organizations to reduce data costs, low-latency and adhere to laws that require data proximity. Yet, businesses can avail the services of the public cloud to manage the infrastructure. Gartner predicts distributed cloud to be the future of cloud.
Gartner says that by 2025, more than half of organizations will use a distributed cloud option at the location of their choice, enabling transformational business models.
Trend 4 : Anywhere Operations
COVID-19 pandemic has accelerated digital transformation, the need to be digital first, mobile first, and remote first. Organizations today are ready to serve customers anytime and anywhere, with employees working remotely and services that can be availed anywhere.
According to Gartner 40 per cent of organizations will combine physical and virtual experiences for better productivity and customer reach by the end of 2023.
Trend 5 : Intelligent Composable Business
Intelligent composable business is about radically reengineering decision making by having access to real time information and the ability to respond quickly. The need for application composition platform, data and analytics will form the new normal for organizations looking to be agile in an unpredictable ecosystem. An intelligent composable business can adapt and reengineer itself according to contingent requirements.
According to Gartner, organizations with composable approach will outpace their competitors by 80 per cent for new feature implementation by 2023.
Trend 6 : AI Engineering
Many AI projects (47%) do not translate to production and this necessitates the creation of a sustainable AI operation that can be both productive and scalable. This could be made possible through AI engineering which is based on the premise of deploying DevOps, model operations and data operations. With DevOps model, organizations can successfully drive their AI projects with better governance and accountability with dynamic and faster AI models. It leads to operationalization of AI accountability and a responsible AI with more transparency, maintainability, scalability, and governance.
Trend 7 : Hyper-automation
Hyper-automation as a concept deals with automating everything in an organization that has the need for it. Legacy organizations with technical debt are turning it into more liquid units with hyper automation. Organizations will find it a continuing trend in times to come as they deploy multiple tools and platforms to automate their business operations.
These technologies are not just futuristic but are critical for driving sustainable business growth, flexibility, and resiliency for today and for the unpredictable next normal. Enterprise leaders will need to prioritize and evaluate these top trends and how they can power their innovation strategy. The path towards digital transformation needs to be treaded if a business must make a great leap into the future.
Espire's partnership with global digital and customer experience technology leaders coupled with our extensive industry experience uniquely positions us to deliver top-notch digital customer experience and transformation solutions.
Reach us at email@example.com for any query and subscribe to our blog for latest industry updates, trends, and insights.
MORE FROM OUR BLOGS
Creating an automated online voting platform for seamless onboarding and improved Voter Experience
One of the major challenges faced by the customer was - conducting the cooperative elections amidst the nationwide lockdowns in the US as casting votes on a piece of paper was neither safe nor feasible. Espire built an online voting application to integrate all the three existing ways of voting in one place including: Online voting (through a website), SmartHub voting (through single sign-on), Paper ballot voting (which includes data entry and verification)
Designed a Centralized Content Management System for a Leading UK-based Staffing Business
A leading Global Talent Acquisition and Managed Workforce Solutions provider in the UK, needed support to centralize its content management for the 22+ acquired brands and required a simplified process for posting job openings & deploying regular enhancements for content management. Espire considering the challenges, reimplemented the front-end design framework for better performance, security and SEO optimization. We also redesigned the cloud architecture on Microsoft Azure to support constant enhancements required to centralize & manage enterprise & localized content.
Design & Development of a Responsive SharePoint Website For the holding company of Singapore’s public healthcare providers
The client manages the public healthcare system to ensure that good and affordable basic medical services are available to all Singaporeans.
Enhanced digital customer experiences for a leading Singapore headquartered transshipment hub
The customer's existing website was deployed on-premises and leveraged a WCM platform, Joomla they required a strategic technology partner to revamp the website, improve content delivery and website navigation with needed to map customer journey and access visitor analytics efficiently
Optimized data and content management with Azure-based solutions for a leading Singapore-headquartered transshipment hub
The customer's existing website was deployed on-premises and leveraged a WCM platform, Joomla. They required a strategic technology partner to carry out Azure migration and eliminate on-premise hosting environment. They also needed managed support services for monitoring website up-time and efficient incident management.
Digital Communications and CCM Solutions 4 key initiatives to Improve Customer Experience
Digital communications help in stitching your prospect to customer journeys together by keeping them actively engaged and allowing them to re-initiate conversation from where they left off. Delivering contextual and interactive communications can help the customers take the next step and reach out to you through the channel convenient for them.
Total experience digital transformation strategy for global businesses
The Total Experience strategy has emerged as a key trend for businesses to drive better digital experiences for users, customers and employees while improving business growth
Digital experience management 5 best practices to improve customer experience on b2b websites
Customer Experience is at the heart of customer service and building long-lasting customer relationships. Customer experience will emerge as the key determinant of business success, surpassing the quality and price of products. While B2C brands have prioritized customer experience as a strategic business goal, B2B companies are yet to navigate their technology investments towards digital experience management.
Sitecore cdp optimization 5 steps for deploying customer data platform
The Customer Data Platform (CDP) has become a critical part of the modern technology stack, as a one-stop solution for data orchestration and management. Sitecore CDP comprises of all the core data management capabilities along with intelligent decisioning, predictive analytics, experimentation, and orchestration for driving positive brand experiences
The future of CRM in the CXM era
Both CRM and CXM are inter-related. The CRM system supports CXM with relevant data to personalize service offerings. CXM analyzes the data and leverages it to deliver impeccable digital experiences across touchpoints.