Adopting new technologies allows businesses to drive efficiency, increase productivity, and boost the bottom line. And companies that don’t embrace digital transformation will eventually be left behind.
But technology changes quickly and keeping up with the latest developments can be tricky. With progress in so many areas, it is difficult to know what to prioritise.
Thankfully, although we can’t see the future, we can take an educated guess as to what the next twelve months will look like.
What is digital transformation?
But first, what do we mean by digital transformation? Digital transformation is when businesses adopt digital technologies to improve efficiency and drive growth. It involves using new technologies to create new processes, policies, and ways of working, to meet the market’s changing demands.
5 trends that will shape digital transformation in 2023
#1. Increased use of automation and AI
With talent shortages in many industries, a cost-of-living crisis and the looming threat of a recession, everyone is doing more with less these days. In 2023, many businesses will turn to automation to increase efficiency. This will also relieve overworked employees of repetitive tasks, so they can get back to their more business-critical missions. In fact, according to a recent report, 61% of organisations say that automation has already helped them to address staffing issues. The same report found that 94% of organisations were prioritising turning staff to higher value work going forward.
Another, related trend that will have a big impact in this year is our increasing use of AI and machine learning (ML) tools in the workplace. For example, Microsoft, Salesforce, and Google have all embedded AI into the work apps we use. In 2023, AI technologies will continue to advance and become even more prevalent in our daily work lives.
#2. Continued evolution of collaboration tech
According to a McKinsey report from 2020, the COVID-19 pandemic may have pushed the adoption of digital tools forwards by as much as seven years. This is thanks in large part to the sudden need for tools that allowed employees to collaborate from a distance starting in early 2020. And in 2023, there’s no sign of remote or hybrid working going anywhere. Tools like videoconferencing software, IM platforms, and project management apps will continue to be vital to business success.
Increasingly, companies are interested in all-rounder solutions that fulfil several distinct functions at once. This means that we might see some consolidation of vendors through mergers and acquisitions as 2023 progresses.
#3. The Ubiquity of Data & AI
Real-Time Data is fast becoming a valuable source of information for successful businesses who understand the importance of accurate and up-to-date data. Social media sites are constantly analysing data by the nano second to improve their services, produce relevant advertising and increase revenue. Companies across every sector have already – or are seeking to – move to a ‘data-driven’ business model to give them a ‘competitive edge, streamline systems and improve their services by better understanding their customers’ requirements.It is unsurprising, then, that one of the top Artificial Intelligence (AI) trends for 2023 is the development and automation of predictive business analytics. Similarly, the Big Data-as-a-service (BDaaS)market is likely to continue its upward trend in 2023.
The impacts and implications of data & AI are far reaching. Whether in the field of law, marketing or medicine, access to data insights and machine learning are fast becoming predictors of success.
#4. Increased Governance & Regulation
As the use of data increases, more governments are introducing laws and regulations to protect data, especially personal data. Gartner analysts predict that by 2023, 65% of the world’s population will be covered by GDPR or similar regulations.
Companies must ensure their internal data handling and processes are in order – from auditing what information is collected, what is done with this data to where it is stored. Though time-consuming, in the long run it will give people more confidence in using these companies and avoid costly sanctions.
#5. An overwhelming demand for talent in data, digital & AI
Demand for data scientists and specialists in AI first began to surge back in 2016. But with the prevalence of these technologies increasing year on year, roles like data scientists, data engineers and analysts are expected to be in high demand in 2023. Experts in data visualisation, AI and natural language processing will also be highly sought after.
At the same time, we will likely see a relative decline in the need for core engineering skills. This is largely due to the rise in low-code or no-code solutions to workplace problems that are now on the market, and that many companies favour. Candidates from more traditional engineering backgrounds may be wise to consider re-skilling or upskilling in 2023 to ensure their skills remain in demand.
Find top talent and meet your digital & data goals in 2023
As technology advances, companies will need to find talent with different skill sets to remain competitive. But competition is tough for in-demand roles like AI engineers, data scientists and analysts.
Career Moves is a specialist talent acquisition company that empowers its clients to hire the best talent to drive innovation, transformation, and growth — even in a candidate’s market.
Get in touch with a consultant to find out how we could help you meet your digital & data goals in 2023.
