Digital Transformation - MITID Innovation

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5 Digital Transformation That Will Help Transform
Your Company
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In the era where social media is not less than a
drug, innovation and technology have become an
integral part of every company in this
competitive corporate world. According to a
report from Emarsys,2019, 45 of the total world
population is engaged in social media, making it
a powerful medium.
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Thus, innovation and technology go hand in hand,
and these reports highlight the importance of
an innovation strategy for a company. But one
needs the vision to analyse and understand the
dynamic business environment. A mindset with a
vision is a gift of an ideal institution. MIT ID
Innovation is an exemplary institution with an
ambition to inspire and develop a visionary
mindset in every student. 
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This ever-increasing value of social media calls
for an effective innovation strategy by each
company focusing ideally on digital
innovation for business growth and expansion. So,
mentioned below are 5 Digital Transformation that
will help transform your company -
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Artificial Intelligence
AI is a magic spell that gives intellectual
access to humans to machines. Artificial
intelligence is already being actively used in
the automation of work, data analytics, and
processing of natural language. Artificial
Intelligence is the future of innovation and
technology that would be used actively in the
business world.
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Internet of Things
Internet of things refers to network connections
in order to enhance communication between various
devices and networks. It is an extremely crucial
component of any innovative strategy as it
provides the companies with business insights as
well as customer experiences that can help a
company grow.
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Blockchain
Blockchain refers to an electronic ledger that
will help in transforming your business. It is a
technology that gives power to electronic
currencies like cryptocurrencies. It
decentralizes the technology and makes it easier
to track transactions. It helps in removing
friction, enhancing trust, and improving
efficiency. The greater trust leads to increased
efficiency by eliminating duplicated efforts.
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Even former Finance and Corporate Affairs
Minister, late Arun Jaitely state in 2018, the
Government will focus on the blockchain
technology of recording and authenticating the
transaction without any intermediaries. 
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Edge Computing
Edge computing is a distributed system that
promotes easy mobile computing. It helps the
company grow as it brings high-performance
computing and artificial intelligence solutions
to the companys different areas. Edge computing
helps a company grow by asset management in a
company, monitoring production, driving
maintenance, and enhancing traffic control
measures.
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Connected Industrial Workforce
Digital innovation has given rise to a machine
workforce that is extremely competitive and
intelligent. The efficiency and value of the
human workforce are declining over time. This
workforce will do things that human beings cant
do, like discovering patterns and learn things
themselves. This kind of innovation and
technology will completely transform the whole
corporate world.
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There can be no denying that a company must match
its pace with the digital innovation happening
around the world to maintain a high-end
reputation in the market and have the edge over
its competitors. According to data collected by
Accenture, 62 of the companies with high-growth
are planning to invest in technologies, which
will result in increased rates of innovation.
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Conclusion
MIT ID Innovation Programme curates knowledge and
experiences that challenge the very paradigm of
evolution. And that's why we have set out to
define the future of industries, communities,
cities and ecosystems. MIT ID Innovation offers
the best Online Courses in innovation.
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