Page 6 - The Notice Board JULY AUGUST 2021 edition 69

Page 6 July-August, 2021

5 Ways in Which Digitization is Changing Business World
Is the Path to

Entrepreneurship
echnological progress world because it contributes to is performing data analysis,
h a s u n d o u b t e d l y its constant change and creating algorithms, or even
Worth it Considering
Timproved our lives in development. Work doesn't i m p r o v i n g t h e
all areas. It has changed the look as it used to 20 or 50 years communication between
most Startups fail? the
way we function, travel or ago. It became more elastic and company and clients.
even talk. But it also has is being constantly modified.
changed the way we work. And here are the 5 ways in Flexible Work: Thanks to the
This technological progress is w h i c h d i g i t i z a t i o n i s digitization we can choose
also connected with the changing business world: how to work and when to work.
process of digitization. What is With all the data and
digitization and what does it have Artificial Intelligence ( ): AI information being stored on
in common with business? In There has been an intense digital media and devices, we
fact, quite a lot. debate on the artificial can easily transform it and
intelligence over couple last access it from anywhere.
years. And whereas some Technological progress and
people (such as moviemakers)
have rather dark predictions
concerning the AI, in reality,
it's quite the opposite.
According to the research
conducted by BCG and MIT
Sloan Management Review:

Three-quarters of executives
digitization made it possible
To put it simply, digitalization believe AI will enable their to adjust work schedule to our
means turning any piece of companies to move into new personal needs and lifestyle.
information from the analog businesses. Almost 85%
form, into digital form. believe AI will allow their Since many services are
Probably the most popular companies to obtain or sustain provided with the use of
example is making an a competitive advantage. technological tools, more and
electronic version of a book (e- However, AI has already more companies rely on
book) from the paper form. changed the business world to freelancers and remote
The reason why digitization such an extent, that companies workers as they can deliver
plays such an important role in use it to automatize work and their work via internet and
the business world is the fact certain activities. Among them
varied platforms. And
that it makes work much
sometimes much faster than
faster, smoother, and efficient.
those working in the office.
This phenomenon happens in
all companies nowadays, even
Innovation: Digitization is
though some may not realize
not only about transferring
it.
data into the electronic thing
but also about using these
H o w I s D i g i t i z a t i o n things and finding new ways
Changing Business World? of developing them. There are
Digitization is so important in so many new, innovative
our work and in the business
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