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Digital Transformation in 2018: New Digital business Model to Drive Future Growth
Frank Gens, Senior Vice President and Chief Analyst at IDC, said that “the rising digital economy means all enterprises must operate like ‘digital native’ enterprises, re-architecting their operations around large-scale digital innovation networks and becoming, in effect, a new corporate species.”
IDC made the following 10 predictions for the future of digital transformation going into 2018:
- By 2020, spending on digital transformation will exceed $1.7 trillion.
- Businesses that adopt digital transformation will generate at least 45 percent of their revenue from newer “digital business” models.
- By 2020, digital businesses will be valued based on their data, platform and customer engagement
- By 2019, 40 percent of organizations will have appointed an executive to lead their digital transformation initiative
- By 2019, 10 percent of sales will be influenced by bots in companies where bots are used
- By 2020, major global businesses will see twice the growth in information products compared to traditional products and services
- By 2020, 85 percent of new technical positions will be expected to have some amount of analytics and AI skills
- By 2020, one quarter of global 2000 companies will have started digital training programs
- By 2019, 40 percent of digital transformation initiatives will include cognitive and AI components
- By 2020, 60 percent of all enterprises will have an organization-wide digital strategy
