Last year, there was only a small fraction of traditional companies who were creating full-featured digital ecosystems. Recently, the trend has begun rapidly gaining momentum.
In case this term is new to you, a digital ecosystem is a collaborative group of participants sharing digital platforms to reach win-win goals. This definition from Gartner Research is somewhat broad, but you’ll understand more by the end of this article.
Nowadays, digital ecosystems are becoming popular because innovative organizations are realizing that creating a cohesive digital environment for their users is a good way to increase revenue. Moreover, this helps them to personalize services, build meaningful relationships with their customers, and fill in the gaps in their business’ strategy.
Indeed, the numbers back this up.
MIT Sloan Management Review report showed that in 2015, businesses that drew over 50% of their income from digital ecosystems saw an increase in profits that was 32% higher than average.
Gartner Research’s 2017 CIO Agenda report found that 79% of the top-performing companies take part in a digital ecosystem, whereas less than half of the companies rated as average performers did.
The digital economy changes fast. Thanks to cloud computing, organizations no longer require their own data centers to go digital.
Meanwhile, businesses are able to select ready-made solutions built with the latest advancements in artificial intelligence. These tools help automate various business functions, such as those involving customer service, improving their customer experience while reducing overhead and increasing efficiency in the process.
Having a digital ecosystem is more valuable now than ever before because there are practically endless ways to connect prospective customers with services and products. In the past, retailers controlled only the in-store experience. Today, they also have to manage their brands and UX on IoT devices, mobile phones, desktops, social media apps, and so on. Ultimately, that’s why more and more companies now apply AI-based robots to interact with clients.
Get Your Own Aitheon Digital Ecosystem
At the same time, developing a digital ecosystem demands a flexible game plan and a well thought out strategy. Businesses need to identify how they are actually going to add value and they need to choose the right partners to help them achieve it.
That’s why Aitheon has made its valuable experience and game-changing technologies globally available. Aitheon provides solutions that are catalysts for innovation—from real-time data intelligence, AI and BI, and the connectivity of growing ecosystems, to human-centered design, macroeconomic forces, and more.
For Aitheon, the personal digital ecosystem means the ability to create a deep connection with customers. But this is only possible when we do our best to fully understand what is required and how we can make a difference.
With a significant portfolio of developing advanced robots and AI tools implemented in government systems, Aitheon may prove to be a powerful partner for various businesses across the globe.
Impact and Benefits of the Digital Ecosystem
With that context established, let’s consider what a digital ecosystem can bring to the table.
#1 Collaborative Environment
Gartner’s survey found out that CIOs spend in general 18% on digitalization, a figure which is predicted to increase up to 30%. The research also showed that one of the key differences between enterprises recognized as top performers and the rest of the field was the development of and participation in a digital ecosystem.
#2 Cooperative Relationships
The personal ecosystem will help you to follow a customer-centric approach, listen to the clients’ frustrations and concerns, and fulfill their needs. It helps to stay competitive and partner with peers who share this vision.
#3 Culture of Innovation
A digital ecosystem will definitely drive innovation and create a foundation for further development. It is important to utilize any technologies that can offer your customers a better experience.
#4 Agile Management
A personal digital ecosystem allows managers to make sure their company remains agile. The opportunity to adapt to always-changing conditions will be a key factor in supporting your digital ecosystem, as suppliers and partners evolve and customer needs grow.
In today’s economy, a personal digital ecosystem is a must-have asset that gives businesses the power to address the various requirements and expectations of every individual customer they have. This is a great way to help companies cooperate with peers, share experiences and engage customers.
Aitheon will help you to simplify all complex business processes and take advantage of the flow of data around you. It is easy to cooperate with because the team at Aitheon is eager to solve problems and learn how their expertise can help you.