The Salon de la Transformation numérique (Digital Transformation Fair), organized by the business magazine Les Affaires, took place in Montreal on April 18 and 19, 2018. As you know, digital technology transforms organizations. But do you know the latest statistics on the impact of digital technologies?
IT CONCERNS EVERYBODY
Digital transformation consists in integrating digital technologies into a company’s activities. Today, it is “at the heart of the business community’s concerns. It is leverage that companies can’t ignore if they want to stimulate their growth,” declares Sylvain Bédard, vice-president, Business Solutions, and editor of TC Media’s Groupe Les Affaires.
Indeed, 79% of business leaders think that digital technologies will become an important challenge over the next 5 years. Source: Québec International 2017
AN ONGOING TRANSFORMATION
Businesses need to integrate the importance of accelerating digital transformation as it presents several advantages: not only does it help you remain competitive, but it also increases productivity thanks to the optimization of relations and the organization. Furthermore, digital transformation is an asset for the company’s brand image. More efficient and better organized, the business benefits from the modernity of its tools, which constitutes a way to stand apart from the competition.
56% of CEOs indicate that the progress achieved thanks to digital technologies already enabled them to improve their profits. Source: Gartner 2017
But Canadian businesses seem less adventurous than its neighbours to the south when it comes to investing in IT.
23% of Canadian businesses plan on investing in IT compared to 66% of American businesses, that is 3 times more. Canada must try to narrow the gap to avoid being left behind. Source: Novipro
TECHNOLOGICAL INNOVATION, A CRUCIAL ISSUE FOR BUSINESSES
The speed at which technology evolves worries 69% of Canadian business leaders. Source: PWC 2018
The problem is that businesses spend 75% of their technological budget in managing existing technologies. Businesses would gain from entrusting their network management to a third party in order to become more innovative. Source: Telus
BIG DATA: A GROWING SECTOR
In 5 years, the quantity of data generated and shared throughout the world was multiplied by 7. Such volumes represent an enormous challenge for businesses in terms of management, storage, monetization, and data protection.
Canada — though relatively smaller than the United States, China, or the European Union — is well positioned to become an important world player in the field of data. In the fields of agriculture, mining, and health care, to name a few, Canada has an edge over its competitors. Experts believe that this edge is largely due to its expertise in artificial intelligence.
DIGITAL TRANSFORMATION HELPS EXECUTIVE RECRUITMENT
According to a study done by the University of Munich, 64% of businesses recognize that their employees do not have the skills required to evolve within digital transformation. But only 16% have an action plan to deal with that.
According to the study Automatisation, nouveaux modèles d’affaires (Automation, New Business Models) published by the Institut du Québec, 1.4 million of Quebec workers are affected by the technological revolution (unemployment, new tasks, training). Professional jobs and services that have repetitive tasks will be the most affected. Thankfully, new jobs will also be created; certain professions, such as data analysts, are currently in full expansion.
BONUS:
According to Big Data News, 20 to 30% of business operations costs come from poor-quality data. It is vital for businesses to perfectly control their data in order to increase their business development opportunities.
Irosoft is a services and technologies company specializing in the valorization of structured and unstructured data. It develops algorithms and products based on automatic natural language processing (NLP) and on modern machine-learning and artificial intelligence (AI) techniques. We transform simple information into practical, usable data. With its team of specialized and experienced consultants, Irosoft also offers a large array of consulting services in the field of information management and digital transformation.
Based in Montreal (Canada), an important AI development centre, Irosoft is very much involved in the IT ecosystem and keeps abreast of the latest trends and methodologies in artificial intelligence (AI). Irosoft’s main markets are the financial and insurance (FinTech), the legal (LegalTech), and the governmental fields.
