Is this a science fiction movie? No, The Digital Mesh — the long-awaited gift of connected technologies — is here now. Advanced science and telecommunications technologies together triggered the latest technology disruption, enabling people, processes, and digital devices to engage in a way that is vital for the survival of modern businesses.
Landmark Digital Disruption: Intelligent Digital Mesh
In the present business landscape, you can witness the overlap of the real and virtual worlds enabled by advanced technologies. The “Intelligent Digital Mesh” is transforming current business models to accommodate people, processes, and smart devices in a collaborative framework for the highest gains.
Today’s wearables, sensors, or mobile devices do not merely collect and share data, but interact with each other in a way unheard of in the history of businesses. Just think of the chatbot or the digital assistant — they have been given human characteristics to make real-life interactions enjoyable and enriching for the consumers.
One thing to note is that “Intelligent” mostly refers to Artificial Intelligence (AI), Machine Learning (ML), and related technologies, which drive the smart devices from the back end. The term “Digital” indicates the use of front-end systems powered by virtual reality (VR). The “Mesh” obviously combines the other two terms to give a sense of the collaborative engagement of disparate components to deliver business value.
AI and Machine Learning play key roles in the Intelligent Digital Mesh – enabling solutions that mimic live human interactions. In a strange way, AI and ML are uplifting mundane devices to the stature of brainy human beings.
What the Intelligent Digital Mesh means for businesses is access to a supportive digital network around business users, customers, and other stakeholders, so that decision-making and realized outcomes are aligned with overall business visions. The Digital Mesh is continuously evolving and strengthening the value of network components like digital devices, smart agents, people, process-enabled systems, business data, and services. This end-to-end connectivity among business participants has suddenly transformed the mainstream offices into powerhouses of data-driven knowledge banks.
2018 Marked the Beginning of the Digital Mesh
According to Gartner, the top technology trends from 2018 will work harmoniously to drive future growth of an Intelligent Digital Mesh. What does this mean? Gradually, all smart self-thinking devices will begin to work with each other instead of working alone, as discussed in the GAVS white paper.
The Internet of Things (IoT) stands at the center of the “mesh,” delivering continuous streams of live data that can be collected, accessed, analyzed, and used by countless applications and users in innovative ways. The article Advanced Analytics: Exploration of Some Transformative Future Trends claims that high volumes of data, IoT devices, low-cost storage, and cloud analytics have together steered fast adoption of AI-powered analytics in businesses, and the democratization of Data Science functions.
The Week gives a sense of how different industry sectors are planning to utilize the connected components of a huge digital ecosystem for superior outcomes.
Next-Generation Business Ecosystems
The present decade is witnessing sweeping changes in the digital landscape. IoT, cloud, advanced AI, and ML have all happened within the same timeframe, leaving business owners and operators stunned by the frenetic pace of technological evolution, as discussed in The Intelligent Digital Mesh: Laying the Foundation for Next-Gen Digital Ecosystems. Static data collection and analytics went to live data gathering and streaming analytics powered by robots – and the change happened quickly!
In fact, the technological evolution has dawned upon businesses so rapidly that business leaders were at first unprepared to face the challenges. The idea that it is possible to build automated interfaces between systems, processes, and users to reduce operating costs and enhance business efficiency has taken time to gel with business operators. The initial hurdles are now over, and businesses of all shapes and sizes are beginning to reap the benefits of the digital mesh.
The Current Technology Trends that Augmented the Digital Mesh
Gartner’s list of categorized trends as Intelligent or Digital or Mesh. The five recognizable trends in the list are blockchain, ML, augmented reality (AR), VR, and digital twins, which together sum up the current digital mesh surrounding digital businesses. The post, 5 Emerging Technology Trends to Consider In 2018 describes the impact of these five trends.
Data Science and AI together have developed a whole new era of data gathering and business analytics about to revolutionize the concept of competitive advantage. How the Intelligent Digital Mesh Will Transform Every Business Layer gives an inside glimpse into the future business models.
The Center for Data Innovation has predicted that the AI technologies market will be “around $40 billion by 2020, and will generate more than $60 billion worth of productivity improvements for businesses in the United States per year.”
How the Digital Mesh has Transformed Businesses
Modern businesses have a lot to gain by embracing advanced technologies within their operative frameworks. The businesses that have already adopted digital meshes in their business models share the following outcomes:
- Increased Technology Awareness: In a technology-enabled world of businesses, the average business operator has to ensure that staff is tech-savvy and aware of the business outcomes of technology.
- Data-driven Decision-making: Access to continuous streams of transactional, process, and customer data have enabled businesses to provide transparent marketing services not possible before. This trend is certainly welcome even with the risk of data overload.
- Real-time Customer Engagements: Social and mobile channels have made instantaneous customer interactions possible for businesses. Moreover, chatbots, digital assistants, and video-chat technologies have taken sales and customer service functions to the next level.
- Heightened Brand loyalty: Because of increased real-time interactions with business representatives and personalized guidance, modern consumers have a heightened sense of brand loyalty. Brands have attained more humanized images in the digital ecosystem.
- Anybody can be an Influencer: Social channels like Facebook or YouTube allow any person to become an Influencer in some niche. Businesses need not retain celebrities to endorse products or services.
Other business benefits of digital mesh are outlined in the Digital Marketing Institute’s article 9 Ways Digital Has Changed Business Forever.
Statistics and Case Studies Related to Digital Transformation of Businesses
These industry case-studies showcase the impact of digital transformation in businesses:
- Why Technology Can Boost Your Manufacturing Business (Manufacturing)
- How is Uber building a digital mesh? (Transportation)
- PrecisionProfile Advances Healthcare Analytics with Improved Data Preparation (Healthcare)
- Polaris Puts Data Analysis in the Service of Defeating Human Trafficking (Non-Profit Work)
- Hach Supports Water Quality with Master Data Management (Water Quality)
Digital Business Transformation reports these statistics:
- According to 87 percent of polled respondents, digital transformation offers a competitive opportunity.
- According to 96 percent of polled organizations, digital transformation is critically important.
- 88 percent of companies have reported they are currently adopting digital transformation.
- 85 percent of business leaders feel that unless they adopt digital transformation within two years, they will suffer in competition.
- Only 50 percent of polled business executives believed that their organizations have “clear and coherent digital strategy.”
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