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Digital transformation of business

Business digital transformation

In today’s world, an increasing percentage of business transactions are made in the digital space. We can say with confidence that the business sphere is now moving into the so-called digital space. Companies are moving from on-premises computing infrastructure to cloud computing, starting to create digital solutions such as smartphone applications or e-commerce marketplace, and implementing smart sensors to reduce operating costs.

What is digital transformation?

Digital transformation (digitalization) is the introduction of modern information technologies into production business processes. This is not just about installing the latest generation of equipment or software, but also about a profound change in approaches to managing a business, communicating with business partners, etc. Thanks to this, the productivity of each employee increases, the degree of customer satisfaction increases, and the company acquires a reputation as a progressive company that looks confidently into the future.

This kind of transformation is manifesting and suitable for different business segments. In the modern era, the company must quickly adapt to emerging changes and force majeure:

  • failures in the list of deliveries;
  • rapidly changing customer expectations;
  • speeding up the time to market for a product.

Benefits of digital transformation

  1. Improving customer experience. Digital technologies make it possible to optimize the work of company employees and personalize communication with customers as much as possible.
  2. Acceleration of business processes. Thanks to digitalization, the company’s work process is accelerated, the company makes decisions quickly, adapts work processes to the requirements of the present.
  3. Opportunities for work and business development. For example, cloud technologies allow you to work on several projects at the same time. And ready-made solutions make it possible to save time on the implementation of many tasks. With a sufficient number of digital tools and streamlining of work, it has become much easier to start your business.
  4. The use of digitalization for working with information. Progressive technologies like Big Data or artificial intelligence are aimed at processing large flows of information, on the basis of which certain decisions can then be made.
  5. Digitalization opens up new opportunities for collaboration and interaction with other companies.
  6. Digitalization makes it possible to significantly reduce operating costs, in particular for logistics and delivery, equipment maintenance, user support and human resources.
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    Conditions for Digital Transformation and Ingredients for Success

    When it comes to the conditions for digital transformation, there is no one-size-fits-all recipe for all companies. Each firm uses different data and technologies and relies on different employee skills. However, there are general recommendations that are optimal for many business areas:

    • Create a team that will lead and be responsible for business transformation. It must necessarily include the head of the company, the chief technology officer, the personnel department and other representatives of the top management. It is important to carry out serious preparatory work that precedes the introduction of any innovations.
    • Approve the subsequent way of development of business. The main task of the transformation is to increase the productivity of work. However, each firm measures this indicator differently, so leaders and their teams need to come to a consensus on this issue. It is necessary from the very beginning to formulate a vision, development path, company values, describe a new culture of communication between employees and customers, taking into account the context of the market and internal relationships.
    • Update the competency model. You know what your company should look like, so the next step is to understand what employees should be like. What kind of skills and knowledge will be useful in order to interact with new technologies. Do employees share the values ​​of digital transformation and are they striving for some kind of change?
    • The next stage is the actual transformation of the business. To carry out the transition from one state to another, it is necessary to find and remove gaps in organizational capabilities between production processes and the competence of workers. Given what is being said about digital transformation, digital skills specifically are important. Basic digital literacy includes a basic understanding of cybersecurity and data retention, working with analytical and statistical data, and the ability to use applications that automate everyday tasks.

    To one degree or another, digitalization has affected all areas of business, including jurisprudence. The digitalization of the legal profession will lead to the fact that the work of lawyers will become more technological, algorithms will free them up time for in-depth analysis of legal standards, making decisions about their use. Digitalization will make it possible, for example, to move from conventional case analysis to the use of artificial intelligence. The use of artificial intelligence greatly simplifies the search for the necessary documentation, frees specialists from routine operations, and favors the development of new communication platforms between lawyers and their clients. In addition, legal regulation of the implementation of smart contracts and smart legislation is provided. AI-enriched legal work will constantly evolve. Thus, a certain future belongs to blockchain technology, which will be used to confirm completed legal transactions, conduct transactions and transactions, and maintain relevant registers.

    Digital Transformation: Intellectual Property and Blockchain Technologies

    Digitalization has also affected intellectual property. The latter has great opportunities and development prospects based on blockchain technology. Digital technologies can now be used to improve the protection and enforcement of intellectual property rights. The use of smart contracts in the process of managing intellectual property objects greatly increases the effectiveness of the work of patent offices and ensures the growth of innovations, inventions and other similar activities.

    Opportunities for Development with Web-3

    There is an opinion that the old Internet will come to naught in a short period of time. And although the process is gradual, we are already facing changes. In the new Internet – what we call Web 3 – the technical implementation and all protocols will change.

    SION Digital transformation of business

    The current Internet grew out of the Arpanet, which was created for strategic management in the event of hostilities. The main characteristic of such a Network is reliability, so the Internet independently built routes and looked for workarounds in the event of a hit in any area. 

    The new Internet is being created primarily for digital transactions. It will be easier to ensure the safety of copyright on content. Now if it is not possible to use official content, there is an option to use pirated content. In the new Internet, it is highly likely that the signature system will be built into the protocol. When you enter the Network, you automatically verify your identity. Each new action will be directly linked to the digital signature. Therefore, the importance and significance of compliance with legal subtleties are brought to the fore. Each request will be authorized, signed and, if necessary, paid for, and the possibility of piracy of information will be reduced to zero. The concept will keep all ideas and data under control and return the rights to the rightful authors.

    Blockchain technology and digital transactions in Web-3

    Blockchain technology is already being used in various fields. It is an information base with transactions with a sequentially generated list of digital blocks. Each of them contains data about the previous and next block. You can get acquainted with the internal information, but nothing can be changed or removed.

    With the new Internet – Web 3 – the presence of a personal lawyer, a specialist in copyright when doing business will become mandatory, as well as when doing business offline.

    SION will help you go through all the stages of digital business transformation, protecting copyright on the Internet. For more information and to receive a complete set of legal documents for digital content, please contact us by: info@sion-ip.com


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