How the rise of A2P SMS is shaping Africa’s digital transformation?
Africa is in the midst of a golden age of digital transformation and e-commerce expansion, made possible by the proliferation of A2P SMS (Application-to-Person Short Message Service). As the percentage of people with mobile subscriptions continues to climb across the continent, businesses are searching for fresh and novel approaches to consumer communication. A new study estimates that the market in Africa would be worth $14.2 billion by the year 2025, which is a considerable increase from its present valuation of $6.6 billion. Its expansion is being driven by the increased demand for mobile messaging services across a variety of industries, including retail, healthcare, and banking, among others. E-commerce has also exploded across the continent, with 21% of Africans already purchasing online and that number is anticipated to climb to 40% by the year 2025. The expansion of messaging platforms that provide comprehensive SMS API services, such as SMS.to, will continue, and businesses have a responsibility to make the most of this opportunity in order to improve their communication strategies and propel their expansion. Source: Business Insider 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Where 500 CxOs See Digital Transformation Headed In 2023
The Forbes CxO Growth Survey 3.0 surveyed over 500 global C-Suite executives and found that C-suite leaders have an insatiable appetite for cutting-edge tech moving into 2023. CIOs are focused on deploying AI/machine learning, expanding the use of IoT, and implementing augmented reality, while CMOs are mostly focused on increasing investment in cybersecurity, IoT, and AI. CFOs are prepared to invest in AI collaboration tools, and advanced workflows, while CEOs are focused on increasing budget for data and analytics and advanced workflow solutions. CHROs intend to increase expenditure on collaborative tools and improved cybersecurity solutions for the hybrid workforce. Despite uncertainty, interest in emerging technologies is increasing. CxOs are responding to volatile factors, such as cybersecurity threats, regulations & corporate tax rates, inflation and geopolitical instability, by prioritizing cutting-edge tech. The majority of CIOs anticipate that their digital transformation initiatives will be more rapid and expansive in 2023. Nearly half (48%) of CMOs consider investing in Web 3.0 initiatives—even during difficult economic times—is important and guarantees businesses keep up with developing trends and CxOs are so optimistic that they want to invest more money and resources in artificial intelligence and Web 3.0 during the next two years. Furthermore, 45% of CMOs seek to improve cybersecurity, because they believe it is directly related to providing a positive customer experience. When it comes to the supply chain, CFOs are not doing enough to reduce risk. Only 27% of CFOs plan to change their supply chains in the next two years. To optimize supply chains, CFOs will look to four specific areas of opportunity: transitioning to a digitized supply chain, partnering with more diverse suppliers, using data to identify inefficiencies, and repricing in order to meet higher costs. Source: Forbes 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
3 Stages of a Successful Digital Transformation
The majority of attempts at digital transformations are unsuccessful. Yet, digital transformation has been at the forefront of businesses’ minds for at least a decade, and its momentum shows no signs of slowing down. The three main reasons why digital transformations fail are over-optimistic expectations, poor execution, and the pace of leading and managing the transition between the old and the new. To succeed at digital transformation, senior business leaders must be aware of the three main stages of the digital learning curve. The objectives of the first two phases, modernization and enterprise-wide transformation, are to reshape the existing business. The third phase stage focuses on the development of new commercial endeavors and the identification of untapped potential. It is crucial to avoid proceeding to phases 2 and 3 before completing phase 1, since this can result in failure. Modernization (phase 1) is about simplifying and digitizing existing processes and functions. It may involve automating HR procedures or providing a self-service platform for workers, as well as building apps for customers or introducing new self-service contact points, linking products, or re-engineering fundamental procedures. This phase is frequently underappreciated or despised, yet it strengthens and improves the organization’s digital capabilities, and it offers immediate returns that can support more sophisticated digital initiatives. Enterprise-wide transformation (phase 2) requires extensive work to be done across multiple value chains where traditional organizational silos must be aligned, appropriate governance models established, new talents needs to be added, and a culture of continual learning and re-skilling must be established. Although its primary purpose is to enhance already existing activities, it can also create new value by allowing businesses to access previously untapped markets or improve the efficiency of existing processes. Transformations at the enterprise level are cross-functional and complicated, but they are necessary stepping stones on the road to digital-transformation maturity. New business creation (third phase), new businesses are created with the goal of expanding existing markets or establishing new sources of income. For businesses to thrive in the age of the customer, it’s imperative that they transition their focus from traditional product-based i.e.one-time sales to more dynamic recurring revenue streams like subscriptions. Transitioning from the current model of operations to new ones is fundamental to operations. These alterations challenge the organization’s existing processes, structures, and capabilities and necessitate new methods of operation. Leadership is essential, as this phase also requires redefining the organization’s boundaries as it transitions from linear supply chains to ecosystems. As a result of the nonlinear nature of these three stages of digital transformation, most companies will oversee a portfolio of initiatives that may encompass all three. It is unusual, however, to discover examples of digital leaders in established businesses who have skipped these steps. The key to a successful digital transformation is to take one step at a time and devote the necessary resources to ensure that the transition is completed successfully. An organization’s chances of success can be improved by climbing the digital transformation corporate learning curve and increasing the maturity of its digital infrastructure. Source: hbr 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
AI success is being limited by poor digital transformation
The success of AI is hampered by insufficient digital transformation, which necessitates rethinking processes and organizational structure to derive maximum value from the technology framework. According to a 2020 study conducted by Boston Consulting Group, 70% of digital transformation projects fall short of their objectives, even when priorities are well defined and leadership is aligned. Factors that lead to failed digital transformation initiatives include identifying the right problems to solve that leads to design of incorrect approach and faulty transformation roadmap that act as a bottleneck for AI success, lack of an overarching data strategy that risk investing in improper tech stacks, lack of integration across verticals and units, and siloed projects that lead to duplicate efforts and wasted resources, as well as employee resistance to change. Additionally, the lack of CoEs and best practices, proper frameworks and approaches, poor execution due to lack of cross-pollination and coordination, and absence of a human-centric, digital-first culture, all these hinder success of AI initiatives. To overcome these obstacles, enterprises must create AI systems that are interconnected across the enterprise, similar to a mesh or fabric, and implement a scalable architecture across the enterprise. This will help the company to take full advantage of the benefits AI can offer and slowly change their business for long-term growth by establishing a solid AI foundation with tools and processes that handle the complete discover-to-implementation cycle. Modular AI architectures offers flexibility and enable the customization of AI solutions to unique business requirements. Holistic AI architecture offers a comprehensive picture of the business and a deeper comprehension of how AI may be implemented in all domains. Scalable data fabric makes sure that it connects to all of the microservices or services in an organization. De-risk AI to handle reputational and performance risks. Agile AI architecture is critical for businesses that must respond rapidly to shifting market conditions and client demands. Agile methodologies have been acknowledged for their ability to enhance teamwork, eliminate silos, and empower decision-making and project management. Like a fabric and mesh, AI must be integrated into all business areas to achieve digital transformation. This will fundamentally transform how the firm runs and provides value to customers. Businesses need to grasp digital transformation to take advantage of its opportunities by breaking down siloed procedures that prevent AI integration and powerful digital transformation Source: Venture beat 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Wearables and sensors are the future of medicine
From a sweat sensor that identifies gout to a device that monitors what you eat, wearable technology has advanced dramatically as a result of fusing our senses with sensors, creating a plethora of new opportunities in a variety of business sectors and helping healthcare organizations achieve better patient outcomes, improve efficiency, lower health care costs, and come up with new ways to engage and empower patient. This article sheds some light on how the intersection of wearables and sensors in MedTech is creating opportunities and will be a game-changer for doctors, patients, hospitals, and insurance companies alike. Source: Digital Salutem 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
The vast majority (94%) of patients really like telehealth
Healthcare delivery is shifting towards telehealth as it can serve an important role in remote patient monitoring and patient care. Improved technology has made access to telehealth easier, and many healthcare organizations are offering virtual appointments and expanding their telehealth options. This Press Release from J.D. Power offers some critical insights from U.S. Telehealth Satisfaction Study and discusses how telehealth and digital technologies are revolutionizing how patients seek and receive healthcare. Puts forth some key findings on how Telehealth adoption will continue to surge, how patients perceive telehealth, their preferred channel for routine care, and more. Source: J.D Power 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Google, Fitbit launch new cloud analytics tools
From fitness and activity trackers to smartwatches and “smart clothing,” the possibilities in the wearable technology industry are practically limitless. As more people adopt connected wearables for health and wellness, wearables provide a whole new category of data that can be utilized for chronic condition management, pre and post-surgery evaluation, population health efforts, clinical research, and to improve patient outcomes and care delivery. This article offers some insights into how Google’s Fitbit is leveraging cloud and analytics in combination with wearable data to impact patient outcomes. Source: Fierce Healthcare 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Digital transformation: Don’t be a follower
Digital transformation can be challenging, and a successful digital transformation necessitates clear vision and creative thinking, but according to a Boston Consulting Group study, 70% of digital transformations fall short of their objectives, resulting in lost time, money, and organizational effort, as well as falling behind competitors in innovation, customer engagement, and technology.Poor outcomes are common Almost every large organization has a digital transformation program, yet many of them fail. Even successful leaders are frequently dissatisfied with their overall progress. Consider a company that deploys new software for more efficient data management. It’s a start in the right direction, but it’s not a complete turnaround. Implementation is only part of the digital transformation. To put it simply, what happens next is crucial. The role of the IT department While the IT department must play a key role in any digital transformation effort, they should not be the sole drivers of the transition. IT departments are already stretched thin; there is a lot expected of IT teams, and even experienced IT workers may not have a comprehensive understanding of every aspect of it.Second-guess your approach Digital transformation is not always rooted in artificial intelligence, machine learning, and automation. To ensure success, it is important to second-guess your approach and think about data integration, not system integration. Don’t think too far outside the box, and keep it simple by answering questions such as how to simplify core business processes. Get realistic about unrealistic deadlines, as they can put you in a box, what you really need is the freedom to think creatively. Set deadlines but remain realistic about the true impact they’ll have on your project and organization, and Don’t tie your success to deadlines. More than 80% of American businesses surveyed by KPMG International Limited in 2020 expect to or are already investing in cutting-edge technology, including cybersecurity, hybrid cloud, and smart analytics. There has been an increase in the number of initiatives aimed at facilitating digital transformation, but it is essential to not lose sight of the end goal. To stay the course and accomplish your transformation objectives, you must have a defined method and system for measuring your progress. Source: enterprisersproject 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
Is Elon Musk right about the future of medicine?
Artificial intelligence is poised to become a game changer in the healthcare industry. AI is growing increasingly competent at doing what humans do, but more efficiently, quickly, and affordably. AI has enormous potential in the healthcare industry, and it is increasingly becoming a part of our healthcare ecosystem, just as they are in our daily lives. This article is an opinion piece where the writer shares one of his interactions with his patient and puts forth his perspective on the statement made by Elon Must, “Mark my words. AI (artificial intelligence) is more dangerous than the nukes. Source: Kevin MD 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow
House bill proposes a new strategy
Patient healthcare data has the ability to improve patient outcomes, predict epidemic outbreaks, generate valuable insights, avoid preventable diseases, lower the cost of healthcare delivery, and enhance the quality of life in general. However, determining the permissible uses of data while protecting patient security and privacy is a challenging task. To combat this issue, a legislation was introduced in the U.S. House of Representatives in Sept 2022 that proposes a new strategy to protect patient data. This article discusses how the healthcare cybersecurity act of 2022 establishes a CISA-led partnership with HHS to strengthen healthcare cybersecurity through industry analysis and workforce development. Source: Healthcare IT News 🔥 Trending Stories 14 Tech Leaders Offer Their Best Pieces of Advice to New Entrepreneurs Ultimate Guide For Hiring On-demand Developers For Your Startup Top 25 Digital Transformation Influencers You Need to Follow