World Monitor Magazine, #5, Industry World Monitor Magazine, Industrial Overview | Page 86

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6. Application program
interfaces (API): Digital transformation

inherently espouses shadow IT and the need for agility. New
tools and technologies need more than one avenue for viability—
otherwise, their value quickly drops. APIs are a secret weapon for
emb racing true digital transformation. eBay and PayPal are two
companies that have relied significantly on these technologies, and
it’s enabled them manage an incredibly high volume of transactions.

7. Big data and analytics: The
importance of big data in the business world can’t be overstated.
Analytics drive business by showing how your customers think,
what they want, and how the market views your brand. In the
age of Digital Transformation, every important decision can and
should be supported by the application of data and analytics.
8. Digital transformation
is driven by the Internet of
Things (IoT). Speaking of how invaluable big data is
to marketers, the IoT offers immeasurable insight into customer’s
mind. It’s also changing how daily life operates by helping create
more efficient cities and leaner enterprises.

9. Smart machines and
artificial intelligence (AI)
are taking off in a big way.

Our relationships to technology continue to evolve. Soon
machines will be able to learn and adapt to their environments.
AI has long been considered the realm of science fiction, but as
technology improves, AI becomes a reality.

10. Destroying silos. The role of the CIO
has changed dramatically over the past decade. With rise to new
roles like the Chief Digital Officer and the Chief Customer Officer,
we are seeing a rise in the important of digital transformation
happening now, and the importance of it happening not just in the
technology of a company, but across the entire organization.
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