The world is going digital. Everyone has a device that they rely on. Many people have sets of devices. Some are for play; some are for work. It’s these very devices that make our lives easier. They allow us to accomplish tasks faster and more enjoyable. It is these factors, along with an increase in revenue, which motivates businesses to make digital transformations within their operations. This is especially true when it comes to the latest in Artificial Intelligence (AI) and the Internet of Things (IoT).
Unfortunately, the transformation in and of itself is not easy or fast. All too often, the process of transformation can be costly rather than profitable. It is for this reason that organizations need to create a comprehensive digital transformation strategy, to move them quickly through the process and to a positive end result. However, before the strategy can be formed, organizations need to develop a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis of digital transformation they intend to make.
Digital Transformation | Early Adopters in Asia Pacific
Countries across Asia have been outpacing the rest of the world on just about every business front. Business growth in this region is double what it is in the rest of the world, and their GDP is regularly trillions of dollars. However, in order to keep up this pace, the main area of improvement that they will need to address is productivity. The adoption of Artificial Intelligence (AI) and Internet of Things (IoT) is the most effective way of doing this. This adoption has already begun. It is being called the fourth industrial revolution.
Proof of this embrace of IoT and AI can be seen in the numbers. In the last quarter of 2016 alone, IoT revenues in Asia were at $8.2 billion—a nearly 20% jump. Just about every segment within IoT saw this kind of growth. This type is growth is happening for a reason: IoT works. A recent Aruba study found that of the Asian companies that have adopted IoT strategies, nearly three-quarters have seen increased portability and half have seen enhanced business innovation and efficiency.
When it comes to AI, a similar trend is happening. Some of the biggest companies in Asia are beginning to rely on this technology. China’s Baidu depends on AI to be the principal pillar of every business endeavor it makes. Then there are companies like Alibaba and Tencent that are seeing AI more as a tool that improves their products. In short, when it comes to business use of AI in China, the goal is to use AI to improve services and products.