Digitization, The Fourth Industrial Revolution summarizes the changes that have been made and are still streamlining and automating processes in the areas of transport, the production itself, or communication through digital technologies. In addition, current technological trends are influenced by the coronavirus pandemic, which in some respects has led to their faster anchoring. Companies that planned to move to the online environment and deploy modern technologies within a few years managed the whole process in a few months. Innovation seems to be happening more in people’s access to technology. Mainly thanks to the ubiquitous internet connection. 5G technology only adds to this. Czech operators are forced to reduce the cost of data; the whole world is moving to cyberspace called the Internet. These are the factors that make companies think differently. And what challenges does the industry face? Automation, digitization, and data. These are the three major main trends that are now resonating in digital technology, mainly due to the new possibilities of artificial intelligence (AI).
Automation and AI
“Automation is definitely nothing new, but some technologies have recently matured – such as AI (Artificial Intelligence) or RPA (Robotic Process Automation), which have the potential to change the way not only companies but also government institutions work,” he says. Lubomír Husar from LovelyData. Artificial intelligence algorithms can save companies time, make operations easier, and automate processes. The motivation for their use can be space for their own growth or greater competitiveness. Typical examples of the use of AI in the industry are an example, machine failure prediction, detection of “scrap” by means of optical checks or data from checkpoints, chatbots, or recommendation algorithms in e-shops.
Virtual assistants or chatbots are also experiencing a big boom, as they can communicate with customers via text and voice messages thanks to artificial intelligence. It is possible to use them on various devices and platforms. Personalization, i.e., real targeting and editing of content according to the platform user or website visitor, is also a big trend.
Image, documentation, and demand prediction
For example, artificial intelligence algorithms are used in the digitization of corporate documents. Using OCR methods, captured documents can be converted to machine-readable documents. In addition, the pandemic has significantly accelerated digitization. “Even though it has been ‘digitizing’ for many decades, the process has been rather gradual. Kovid’s measures forced the whole society to look for ways to continue working even with limited personal contact.
Efficient use of data
Artificial intelligence helps many companies with data volumes, analysis, and evaluation. “Data has been an untapped gold mine since the advent of the digital environment and still remains one of the main trends in digital transformation. Working with data is a critical skill for companies in the new digital ecosystem. Organizations have never been alone on the path to digital transformation; customers have always gone in parallel and adopted new technologies at high speed. There are ever smarter and brilliant times when businesses have invested in only one data management software, usually, CRM, which is gone. Common data platforms do not go deep and lack some critical data provided by customers. This inefficient approach leads to an impersonal customer experience. And organizations are beginning to realize this.
“For all new applications, be it smart industry, agriculture, healthcare or logistics, security and protection of personal data and other exchanged data is essential. The trend is also the use of data to create and develop new technologies. Existing solutions are traditionally based on a centralized architecture and do not focus on audibility and consistency.
Evaluating data and obtaining meaningful information that helps a better organization, business, and education is still a challenge for companies. “It turns out that organizations are now planning to invest more and more in customer data platforms to support growth and promotion, making ‘nice-to-have’ technology a ‘need-to-have’ technology,” concludes WDF.
Also Read : What This Entrepreneur Learned From His Failed Fintech