IT industry research agency IDC has revealed the top 10 predictions on digital transformation for 2019 and beyond.
By 2020, at least 55 percent of organizations will be digitally determined, transforming markets and reimagining the future through new business models and digitally enabled products and services.
By 2022, the CDO title will be in decline, as digital will have become fully embedded, but more than 60 percent of CEOs will have spent part of their careers leading digital initiatives.
The paramount importance of customer advocacy will result in 60 percent of B2C brands embracing net promoter score as their leading success metric by the end of 2020.
By 2020, 80 percent of enterprises will create data management and monetization capabilities, thus enhancing enterprise functions, strengthening competitiveness, and creating new sources of revenue.
By 2020, 30 percent of G2000 companies will have implemented advanced digital twins of their operational processes, which will enable flatter organizations and one-third fewer knowledge workers.
By 2023, 35 percent of workers will start working with bots or other forms of AI, requiring company leaders to redesign operational processes, performance metrics, and recruitment strategies.
By 2020, 30 percent of G2000 companies will have allocated capital budget equal to at least 10 percent of revenue to fuel their digital strategies.
By 2021, prominent in-industry value chains, enabled by blockchains, will have extended their digital platforms to their entire omni-experience ecosystems, thus reducing transaction costs by 35 percent.
By 2021, about 30 percent of manufacturers and retailers globally will have built digital trust through blockchain services that enable collaborative supply chains and allow consumers to access product histories.
By 2023, 95 percent of entities will have incorporated new digital KPI sets — focusing on product/service innovation rates, data capitalization, and employee experience — to navigate the digital economy.
IDC estimates that the direct digital transformation (DX) investment spending will be $5.9 trillion over the years 2018 to 2021.