An increasing number of businesses are spending the lion’s share of their IT budgets on digital transformation (DX) technologies. But many businesses are not — and the high speed at which DX is reshaping industries is leaving some vendors and end users behind. As the DX wave continues to gain velocity, the question must be asked: Can these businesses catch up?
If there was any doubt about a renewed focus on retail infrastructure, this was dispelled at NRF’s Big Show 2019 , and this has become even clearer in the weeks following. As we traversed the floors and booths, there were many conversations to be had around AI, IOT, “frictionless commerce”, and other “store of the future” technologies that digitally determined retailers are deploying in order to transform their physical consumer touch points.
This IDC FutureScape provides IT executives in hospitality organizations across the globe with actionable insights for likely future technology and business scenarios. The intended readers of this IDC FutureScape include, but are not limited to, members of the executive, business, and IT leadership of hospitality organizations worldwide. These FutureScape predictions suggest that the next five years will continue to focus on the adoption of disruptive and innovative technologies, which will drive digital transformation (DX) forward at a rapid pace through several key themes, including:
Internet of Things (IoT) remains one of the top digital transformation initiatives happening across organizations today. While much of the focus has been on digitally enabling the physical, we are seeing IoT move into its next chapter as the harmonization between human and machine begins to happen. IoT underpins the exchange of information from “things,” people, and processes. Data becomes the common denominator and it enhances our senses and business processes by providing critical visual, audio, tactile, and environmental queues that allow us to adjust, adapt, and react to changing conditions in the world around us.
As legacy business and service models erode in the face of emerging technologies, particularly in the home IoT sector, businesses need to make bold decisions to embrace emerging technologies and enable new user experiences to compete for a greater share of the consumer market. Decision makers at consumer companies must embrace change and not be held hostage to either legacy technologies and business and service models or the challenges of meeting consumer demand in nascent, unproven markets.