It’s a term that’s chucked around left, right, and centre these days. We thought we’d sit down and explain exactly what digital transformation is, particularly for businesses.
It is common sense for businesses to look at where they are overspending and consider money-saving alternatives. One possible solution is automation, which can use technology to reduce staffing costs. This can be scary for those in at-risk jobs but it can be good for business. Automation is not all about robots taking over the workplace, but that’s not entirely science fiction either.
The digital revolution is affecting almost every industry, but the legal sector has been slow to change. Modernisation of other services affects client expectations of all industries, including the legal sector.
Despite often dealing with complex cases and sensitive information, the industry still needs to evolve. In an age when you can buy your house online, it would be illogical not to be able to deal with a solicitor this way too. More legal firms are now adopting digital approaches, but there are still many more opportunities for the industry.
No term has captured the zeitgeist of the technological revolution in the business world like, “big data”. This all-encompassing term came to define the way that thousands of businesses looked at their customers differently.
As big data is all about facts, figures, and unparalleled insight – it’s no surprise that the insurance industry was one of the first industries to latch on to big data in a major way. The use of financial data, actuarial data, claims data and risk data cover virtually every important decision an insurance company makes.
Digital transformation covers a range of aspects and ideas. Ultimately it’s about improving our business by introducing digital tools or approaches to your usual way of doing things. It’s something that should be approached with caution – not everything needs a digital overhaul.
We’ve taken a look at the subject and spoken to some people who have taken on digital transformation themselves.
Whether it’s purchasing clothing or ordering a takeaway, it’s no longer unusual to have a conversation with a robot. With more bots now incorporating Facebook Messenger, the technology is becoming increasingly sophisticated.
Messenger bots can be used to answer your questions and direct you towards items when you are unsure of what to choose, but what about for big purchases such as buying a house?