Digital transformation—driven by technologies such as artificial intelligence (AI), cloud computing, and extended reality—is reshaping customer habits. Even more, it’s changing the business world and reshaping how we work. 

Companies are adopting technology-driven business models to save costs, launch products faster, and improve operational efficiencies. There's a big upside, but also a big downside. A February report from Deloitte found effective digital transformation initiatives could increase market capitalization by $1.25 trillion. However if they’re done wrong, there could be $1.5 trillion of lost value. No pressure.

In a recent Insider article, Nigel Vaz, CEO of Publicis Sapient, said, "While business leaders understand the need to transform technologically, the greater challenge has been how to navigate the accelerating rate of change. It's not just technology that's changing but business models, societal expectations, and customers themselves."

From robotics to extended reality, a variety of technologies are shaping the strategies of digital transformation, enabling companies to evolve and thrive. A couple of stand outs for enterprise applications? AI and cloud computing.

Artificial Intelligence (AI)

AI, a powerful tool in digital transformation, is now more advanced and democratized than ever. It's not just about automation but also about reimagining business processes. Companies across various industries are harnessing AI to improve internal processes and enhance productivity.

Cloud Computing

The cloud is not just about storing data; it's a game-changer for expanding into new markets. Consider Amazon, which entered the media streaming arena with Amazon Prime Video and cloud computing through Amazon Web Services. To successfully embark on cloud-domain transformation, businesses must work across existing domains, emphasizing speed and agility as prerequisites. 

And there are so many more emerging technologies making waves. 

With all these new advances available to businesses, they must leverage technology to create smooth, fast, and personalized experiences for their workers and customers. Emerging technologies can impact operations, supply chains, marketing, customer service, and even company culture.

Digital transformation isn't just a buzzword; it's a critical priority for businesses. Taking advantage of emerging technologies is essential for staying competitive, satisfying customers, and evolving in an ever-changing technological landscape.