The Future Enterprise

THE DIGITAL-FIRST WORLD IS THE ERA OF THE FUTURE ENTERPRISE

The world is moving from digital transformation (DX) as we know it to Digital-First. DX started with transformation from analog to digital. With contextualization, digital-first becomes the next evolution in DX. Digital is a permanent, yet dynamic fixture in this world. Digital-first applies to any entity searching for a digital-based capability or enhancement that could improve our lives and desired outcomes.

Entities and people are more connected, with greater interdependencies in a digital-first world. Entire ecosystems can intelligently leverage data to their advantage because access to digital technologies extends from individuals to organizations, and from governments to societies.

In a digital-first world, we have 3 interconnected pillars:

Future Societal Structures. Future Societal Structures are digital-first. In such a society, digitalization is spread to the mass population. Its government and public sector entities are influenced by digital in the way they serve the population as well as the policies and investments made to accelerate/prioritize national digital plans. Digital is at the core of how the general population work, play, learn and live.

Future Enterprises. Future Enterprises are digital-first. The Future Enterprise is IDC’s vision for how organizations must operate and invest to participate in increasingly digital-first markets. It is a framework for fostering a digital-first culture, one that leverages trusted industry ecosystems, generates profitable revenue growth from empathetic customer experiences, and demonstrates an ability to adapt operating models to complex customer requirements. All of this is built on digital infrastructure and enabled by an intelligent, empowered, and well-connected workforce. A digital-first enterprise must close the digital value gap which in a digital-first world includes the impact of financials (top and bottomline), ecosystem and sustainability.

Future Consumers. Future Consumers are digital-first. Digital plays a significant part in the way Future Consumers buy and consume in entertainment, housing, lifelong learning, money, personal mobility, shopping, travel and dining as well as well-being. The silver-generation (>55 years old) consumers who used digital during COVID-19 will remain in digital. Younger millennials/older Gen Zers will emphasize 4Cs (conscious, cherished, curated, and careful), shifting toward a purposeful lifestyle, as they take digitally native consumption to the next level.

IDC’S “FUTURE OF X” PRACTICES

A digital-first world requires a digital-first economy and the 3 interconnected pillars bring impact to such as economy. A digital-first economy is therefore one where industries, business ecosystems and organizations are influenced by digital in the way they innovate and create/deliver their products/services, empower their employees, engage/serve their customers, collaborate with their partners as well as contribute to the broader society. In this economy, all industries will be driven and shaped by Future Enterprises.

The digital-first world is the era of the Future Enterprise, and the technology building blocks of a digital-first world are as follows:

FUTURE OF CONNECTEDNESS

Pervasive wireless-first.

In 2024, wireless first will become mainstream for wide area connectivity, accelerating 65% of enterprise, industrial, and public sector organization investments to "untether" their operations.

FUTURE OF CUSTOMER EXPERIENCE

Augmented personalization-first.

By 2026, B2B companies will use AI interactions and analytics technology to deliver deeply personalized journey engagement, eliminating 40% of marketing and sales human touch points.

FUTURE OF DIGITAL INFRASTRUCTURE

Edge data-first.

By 2024, due to an explosion of edge data, 65% of G2000 will embed edge-first data stewardship, security, and network practices into data protection plans to integrate edge data into relevant processes.

FUTURE OF DIGITAL INNOVATION

Customer facing-first.

By 2022, organizations that allocate 50%+ of their software development projects to customer-facing initiatives will see revenue grow 15% faster compared with those that focus more on internal projects.

FUTURE OF INDUSTRY ECOSYSTEMS

Cross ecosystem-first.

By 2022, 50% of the Fortune 500 will manage the value of shared ecosystem data via KPIs of improved operational productivity, ongoing customer engagement, and skills enhancement.

FUTURE OF INTELLIGENCE

Business value-first.

By 2023, 60% of enterprise intelligence initiatives will be business specific, purpose built for business, shortening the data to decisions time frame by 30%, driving higher agility and resiliency.

FUTURE OF OPERATIONS

Remote operations-first.

By 2023, 40% of G2000 companies will develop all new processes as remote operations first, compared with the very limited number of remote operations processes in 2020.

FUTURE OF TRUST

Unified security-first.

By 2023, 55% organizations will allocate half of their security budgets to cross-technology ecosystems/platforms designed for rapid consumption and unified security capabilities to drive agile innovation.

FUTURE OF WORK

Hybrid-work first.

By 2023, digital transformation and business volatility will drive 70% of G2000 organizations to deploy remote or hybrid-first work models, redefining work processes and engaging diverse talent pools.

FUTURE OF CONNECTEDNESS

Pervasive wireless-first.

In 2024, wireless first will become mainstream for wide area connectivity, accelerating 65% of enterprise, industrial, and public sector organization investments to "untether" their operations.

BEST IN FUTURE OF CUSTOMER EXPERIENCE

Augmented personalization-first.

By 2026, B2B companies will use AI interactions and analytics technology to deliver deeply personalized journey engagement, eliminating 40% of marketing and sales human touch points.

FUTURE OF DIGITAL INFRASTRUCTURE

Edge data-first.

By 2024, due to an explosion of edge data, 65% of G2000 will embed edge-first data stewardship, security, and network practices into data protection plans to integrate edge data into relevant processes.

FUTURE OF DIGITAL INNOVATION

Customer facing-first.

By 2022, organizations that allocate 50%+ of their software development projects to customer-facing initiatives will see revenue grow 15% faster compared with those that focus more on internal projects.

FUTURE OF INDUSTRY ECOSYSTEMS

Cross ecosystem-first.

By 2022, 50% of the Fortune 500 will manage the value of shared ecosystem data via KPIs of improved operational productivity, ongoing customer engagement, and skills enhancement.

FUTURE OF INTELLIGENCE

Business value-first.

By 2023, 60% of enterprise intelligence initiatives will be business specific, purpose built for business, shortening the data to decisions time frame by 30%, driving higher agility and resiliency.

FUTURE OF OPERATIONS

Remote operations-first.

By 2023, 40% of G2000 companies will develop all new processes as remote operations first, compared with the very limited number of remote operations processes in 2020.

FUTURE OF TRUST

Unified security-first.

By 2023, 55% organizations will allocate half of their security budgets to cross-technology ecosystems/platforms designed for rapid consumption and unified security capabilities to drive agile innovation.

FUTURE OF WORK

Hybrid-work first.

By 2023, digital transformation and business volatility will drive 70% of G2000 organizations to deploy remote or hybrid-first work models, redefining work processes and engaging diverse talent pools.

As we anchor ourselves in a digital-first world, one thing is clear. Organizations, private or public, large or small, will need to leverage technologies in an accelerated fashion to thrive. And the ones that can close the new digital gap through the greatest business value impact will become market leaders of tomorrow. These leaders are the Future Enterprises.

Read more about the Future Enterprise here.

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