Introduction

Technology has produced a culture in which new inventions are constantly changing our daily routines, jobs, and how we interact with one another. Many of these technological improvements are excellent; they enhance our quality of life, increase productivity, and provide us with more access to necessities. This article examines how developing technologies such as big data, blockchain, cybersecurity, artificial intelligence (AI), robotics, and the Internet of Things (IoT) impact organizations. It goes on to demonstrate the various ways in which these technologies could alleviate the issues caused by digitalization.

Emerging Technologies

Artificial Intelligence

Artificial Intelligence (AI) is one of the most ranked emerging technologies; it includes chatbots and Apple’s Siri. Chatgpt was released in November 2022; it is a generative AI that utilizes natural language processing to generate human-based texts (Watters, 2022). Its creation brought up many questions because leaders wondered how it could be proved that the text was from humans or technology.

Internet of Things (IoT)

IoT is widely used in many industries. They exploit linked devices to ensure businesses achieve effective results. The capabilities of 5G contribute the most significantly to this expansion. This increasing bandwidth of IOT has increased the chances of cyber security. The distributors are supposed to ensure that IOT becomes safer and more secure for organizations to use.

Machine Learning

Machine learning is an emerging technology that enables users to draw insights from large amounts of datasets. Despite the numerous benefits of machine learning, developing learning models takes a significant amount of time and resources. AutoML automates tedious and repetitive operations like data purification and parameter selection to free up technical resources. Furthermore, AutoML enables non-technical users to use technology more successfully by building learning models with algorithms rather than humans.

Impact of Emerging Technologies

Many organizations’ business methods have changed as a result of technological advancements. The advent of social media and online customer service has reduced the requirement for human skills to provide clients with individualized attention (Laliberte & Entwhistle, 2022). Technologies such as file sharing, internet purchasing, and online money transfers have enabled businesses to conduct tasks considerably more swiftly. It speeds up the sales process while also ensuring that the firm runs smoothly.

Transparent financial and organizational data, investments, and video conferencing all help to expedite company transactions. Businesses now have more control over their logistics, communication, and transportation needs. Technology has dramatically increased internal and external communication. People in various departments and functions may now communicate more efficiently and keep track of who is doing what. Sending urgent emails, SMS, or video chat messages to the staff will make it easier to communicate with them.

Mobile technology enables businesses to connect more effectively with their consumers and staff. It can also be used for marketing purposes, such as sending newsletters or emails with promotions to encourage people to work for the company. Cloud computing enables firms to watch their competitors’ actions and learn from their triumphs and errors. Small firms can profit from cloud computing since they often need more resources and a workforce to handle administrative tasks such as productivity, marketing, and data storage.

Ways of Reducing Digitalization burden

Power Ecosystems

The rapid proliferation of digital possibilities is resulting in an increasing resemblance between products and services. In general, modern offerings are considered as individual components that can be joined to form product and service bundles. Networks of collaborative supply chains offer customers a superior value proposition. Meanwhile, the internet, cloud computing, and mobile interfaces have all contributed to the evolution of corporate customer service techniques (Violino, 2021). These characteristics make it difficult for a single provider to meet the needs of all of its customers. Small and medium-sized firms, like other service providers, must decide how they want to participate in the ecosystem.

Management

Despite the growing complexity of digital transformation, firms may now automate entire operations and divide them into manageable parts thanks to innovative methodologies. Coordination of all firm digital components is the pinnacle of digi