Transformation Your browser does not support the audio element. Organizations are projected to spend nearly $2 trillion on digital transformation in 2022, spurred by a proliferation of new technologies and a fear of disruption by tech-enabled competitors. Many organizations are approaching digital transformation and disruption backwards. The proportion of work delivered through automation has more than doubled over the last three years and is expected to grow to 34% in Asia Pacific in the next three years. With the threat of new competition, technology transformation and rising customer expectations as top drivers of industry disruption, it's no wonder that a majority of executives believe more than 20 percent of current jobs will cease to exist by 2022. The upward trajectory of SDN solutions will carry over into next year as digital disruption and transformation will continue to challenge customers in 2019. Banking seems to be more attracted to digital disruption, given that investments in digital transformation initiatives are expected to surpass $2.7 trillion by 2020 according to Fintech Innovation. Artificial intelligence will contribute close to US$16 trillion to the global economy by 2030 and is set to be the key source of transformation, disruption and competitive advantage in the world's fast-changing business arena. Artificial intelligence is projected to contribute up to $15.7 trillion to the global economy by 2030. Cloud computing and the internet of things are poised to create further disruption in the next decade. An innovation tsunami has the potential to wash over the world's energy systems: With it, disruption and transformation throughout the world economy could be as profound as the shocks of electricity and oil a century ago. Over half of firms have already experienced disruption to their industries as a result of new digital technologies and digital transformation processes. In 2018, digital disruption will continue unabated, unsettling organizations that have already started down a digital transformation path. Digital Transformation Will Be a Key Part of Company Strategy for One-Half of SMBs by the End of 2019. Only 50% of respondents (including students, university leaders, and education technology company counters) expect the traditional university "model" to be disrupted by 2025. Digital disruption will hit every industry at some point over the next five years and change the global business landscape. Global CEOs and members of Frost & Sullivan's Growth, Innovation and Leadership community expect ongoing digitization-driven disruption, collapse and transformation to be a harbinger of product-as-a-service business models. Applying the blockchain to Cisco's massive network of 500 million globally-deployed devices alone could create major disruption and transformation. 32% of company revenues will be threatened by digital disruption by 2020. Artificial intelligence firms will flourish in 2017 and banks will seek to use their technologies to reduce costs. There is broad agreement that the economic opportunity from digital transformation could be as high as $100 trillion across all industries over the next decade. 4 out of the top 10 retail banks will be displaced by digital disruption in the next three years. By 2020, four in ten incumbent companies will be displaced by digital disruption. See full forecast Last updated: 05 July 2020 Hi, Would you like a quick online demo of our service from an experienced member of our team? Yes No
