Digital Transformation; How to develop a digital-first business model?     

Digital Transformation; How to develop a digital-first business model?

Digitization is the key to any successful business. With the influx of new digital technologies, cloud computing services, artificial intelligence, automation, and robotics, the world has definitely moved to a different level. With time, these technologies have taken over the world and we have become more dependent on them than ever before.    

Technologies such as artificial intelligence are becoming more plausible in the real world with products and services including them to enhance consumer satisfaction. Before we realized it, digital transformation crept up slowly and became an irreplaceable part of our lives. Now, it plays such a prominent role on every front that you cannot think of replacing them. And with the long list of benefits they come with, why should you?   

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Forbes writes, “Technology should be used to foster open communication among team members and between you and your business partners. Seventy percent of customers still prefer human interaction over-communicating with bots, and your colleagues and partners are no different. Customers want and expect digital engagement across a wide variety of channels, but they want these channels to supplement or lead to more impactful human interactions, not replace them entirely.”

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Therefore, digital adoption remains an important topic that needs to be discussed not just for the betterment of small businesses but also for solving the queries of the customers. Hence, our team, here at CanadianSME Small Business Magazine identified that this is an important topic to address and so we included it in our summit. 

The main topics of discussion in the panel session will be challenges faced by companies in the wake of digital transformation to the benefits of digital transformation. Business leaders from across Canada will give a brief overview of the current trends in digital transformation, as these trends will be the implications of how businesses will be disrupted in the future. In the last 10 years, there have been many changes, yet the same key business drivers are still in place from many years ago such as market share, profitability, and revenue growth. The fundamentals of business still have not changed, although they are now much more complex.

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