When it comes to technology, business leaders cannot afford to bury their heads in the sand. Disruptive technologies have the potential to impact nearly every facet of the way we do business today. Failure to understand, embrace, and employ these technologies can mean serious consequences for your business.
The first step for many business leaders is education. They simply don’t understand how technology touches nearly every facet of their business and don’t know where to begin to get themselves up to speed.
What follows is a look at how technology relates to
- Connectivity and the 5G Future
- Cloud Migration
- Customer Experience
Connectivity and the 5G Future
Connectivity may be the single most important piece of the modern technology puzzle.
Today’s connectivity technologies have created a revolution in the way we work. Enhanced connectivity options have allowed for far greater mobility in the workplace, whether it means a remote workforce or greater flexibility in work schedules. It allows for crystal clear global conferencing, and trustworthy distribution of documents.
In 2018, 70 percent of global employees worked remotely at least one day a week (IWG, Global Workplace Survey, 2018), and by 2023, it is estimated that 43.3 percent of the global workforce will be entirely mobile (Strategic Analytics, Global Mobile Workforce Forecast Update 2017-2023, 2018).
5G technologies represent far more than just the next generation of wireless connectivity. They have the potential to be the seeds of a revolution with the potential to transform both society and numerous industries in remarkable ways.
From augmented and virtual reality to connected vehicles to remote telemedicine to a fully realized Internet of Things, the viability of these potentially life-changing technologies will depend on the ultra-low latency and lightning-fast speeds of 5G.
Its wide-scale adoption holds the potential to upend old business models and drive previously unimaginable innovations. The doors that 5G should open for the enterprise and the customer are predicted to be so profound that this network technology has been called a key ingredient of the Fourth Industrial Revolution.
While businesses once worried about moving their data to the cloud, cloud solutions have become much more common, with companies and organizations migrating to the cloud in droves. By some estimates 84 percent of enterprises have a multi-cloud strategy (RightScale, 2019 State of the Cloud Report, by Flexera). Such shifts indicate a growing level of comfort with offsite storage solutions. But with adoption comes risk.
Verizon is well aware of these threats and is employing the technologies to reduce them. With distributed applications spreading across digital ecosystems, the surface area for cyberattacks is growing. In 2018 Verizon analyzed 41,686 security incidents, of which 2,013 were confirmed data breaches spanning 86 countries. Poorly configured servers practically invite bad actors inside.
The implications of cyberattacks are so profound that they have become top-of-mind for the C-suite. In a telling shift, CEOs increasingly hold direct budgetary oversight over cybersecurity spending, rather than CIOs. Enterprises have realized--at times painfully--that the reputational hazard of a data breach is far too great for security to be treated as just a line item on a budget.
The breakneck pace of the digital economy requires organizations to think about securing their enterprises in bold new ways that extend far beyond the firewall.
Customer Experience (CX)
Customers, too, are well aware of advances in technology and are demanding more advanced experiences from the companies they support. By one study, 56 percent of customers actively sought to buy from the most innovative companies, and a full 80 percent of customers said the experience a company provides is as important as its products and services (Salesforce, State of the Connected Customer, 2019).
Fortunately, advanced technologies are now widely available to innovate and develop new business models. Businesses should be looking at digital solutions that allow them to grow and stretch to achieve things they never could before.
Being ready for customers is perhaps the most challenging and exciting work of all. Offering a valuable service is table stakes. Taking that service to market with a strategy backed by sound, actionable intelligence--and with the ability to adjust both the strategy and even the offering in near-real time--will separate the innovators from the imitators. And when organizations harness the power of 5G, opportunities for customer experience differentiation should expand exponentially.
Why Verizon to Empower your Business
Verizon works relentlessly to understand customers’ needs. It reaches across divisions and silos, helping organizations at every step to apply tomorrow’s technology solutions to today’s most pressing challenges.
Not surprisingly, Verizon has been a leader in developing 5G technologies.
Verizon lives for this by teaming with organizations of all types and sizes to deliver transformative change, and make innovation an integral part of doing business. Working collaboratively with their clients and their teams across functions, Verizon helps to efficiently and securely integrate digital into clients’ operations.
Verizon’s goal is to deliver the promise of the digital world by enabling people, businesses, and society to innovate and drive positive change. When their mission aligns with its client’s mission, amazing things happen.
Businesses choose to partner with Verizon because it possesses the right technology and expertise to transform their practices, helping them move from legacy analog organizations to category-leading digital disruptors.
Digital transformation must be treated as a strategic journey, with clearly defined steps, states, and milestones. Being ready means having the right insights--and the right partner--to help strengthen operations, deepen customer relationships, and safeguard your position.