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      Transformational Technology for Business Transformation in the New Era

       Md Shamsul Haque Ansari1* and Monica Mehrotra2

       1Research Lab, Department of Computer Science, JMI, New Delhi, India

       2Department of Computer Science, JMI, New Delhi, India

       Abstract

      In terms of management, business transformation takes place with the fundamental changes in the way the business takes place to cope up with the shift in market environment day by day. Urbanization also has a major role in the environment of market shift as the large number of populations is being shifted from rural areas to urban areas. Hence, we require inventive and innovative technologies which may sense urban dynamics automatically and give essential information to improve the sustainability of smart cities. To make the life easier, do work efficiently and generate more revenues according to the limited time, the technology plays an important role. The recent trend of business transformation requires huge transformation in technologies as we are moving towards the concept of smart city. Apart from the various benefits of using recent technologies, some challenges are also there which we must handle in different fields like energy conservation, security system especially related to banking transactions, etc.

      Keywords: IoT, smart city, digital transformation, business transformation

4.1 Introduction

In the current scenario, if we talk about the business organizations whether it is small size organization or large organization, they are adopting business transformation with the fundamental changes in the way the business takes place to cope up with the shift in the market environment day by day. Urbanization is one of the major components for business transformation in the shift of market environment as the large number of populations is being shifted from rural areas to urban areas and the majority of the population are getting more aware about the market, products and services. Hence, we require inventive and innovative technologies which may sense urban dynamics automatically and give essential information to improve the business processes which must maintain and increase the revenue of the business organization and hence the sustainability of the organization too. Business transformation is the biggest challenge for every organization towards their sustainability in the market. To make the life easier, do work efficiently and generate more revenues according to the limited time, the technology plays an important role [1].

      Technology is a term which makes the organization capable to move forward with their competitor in the competitive environment of the market. There are multiple objectives of business transformation including market share, customer satisfaction and cost-cutting. If we talk about the customer satisfaction, it is one of the major dimensions of business on which any organization must focus regularly. In the last decades, we were using the traditional business system where competition was also less and nowadays the scenario is just contrary [2].

In almost every sector we are getting the support of recent technologies like Internet of Things, Artificial Intelligence, Blockchain, etc. For example: - if we talk about the Healthcare System, we can monitor our patient remotely where communication plays an important role in terms of Wi-Fi Connectivity, Zigbee, etc. Such communication medium is also being used for the tracking of assets, remote workers, and shipping with the help of GPS. In the recent trends, we are using RFID tags for the identification or monitoring of devices, patients, pets, tracking of trucks and all which makes our work more convenient. In the education system, the processes have become modernized which makes the learning easier in terms of e-learning resources, in terms of smart classes, use of various teaching and learning aids like audio-visual aids, etc. [3]. A variety of businesses whether they are dealing in manufacturing of several audio-visual aids or dealing with providing various services plays an important role in the education system. It increases the productivity of the education process [4]. Apart from this, we are also having the technological support for the research and development. If we talk about the automotive, there are various options for the crash avoidance, fleet management, establishment of smart factories, smart homes, etc. There are a lot of options for the media/entertainment in terms of set-top boxes, smartphones, smart televisions, self-service, smart home gateway, etc. Companies like IBM, CISCO are spending huge amount for incubating technologies which helps in the implementation of smart city concept as well [5, 6].

      4.1.1 Business Transformation

      The term transformation has become a buzzword today which is used in various ways to run the organization smoothly which makes the process easier and productive. Corporate Renewing Centre organized a conference at INSEAD where the term business-transformation was defined as “A fundamental change in organizational logic, which resulted in or was caused by a fundamental shift in behaviors” [7]. While defining transformation in detail, following four constructs were given: