As stated in the World Development Report 2019, 3 percent of the global labor workforce—that
is, more than 84 million people
around the globe are freelancers. Between 0.3 to 0.5 percent of the workforce
worldwide partakes in the gig economy.
were close to zero some twenty years ago. The sharp upward trend in
participation in the gig economy over two decades indicates that businesses are
shifting their approach from hiring based on location and qualifications to
quality and output.
transformation (DT) makes it possible to work from anywhere, at anytime, and
deliver value to anyone who asks for it. Also, the business can keep its focus
on solving the customers’ problems and move past internal processes without
DT changes how
people work and get paid along with the very structure of the operation of a
Benefits of Digital Transformation
hire people with all kinds of skills—from AI/ML experts to graphic designers.
The gig economy has opened doors for drivers and artisans as well, giving them
exposure to and opportunity in a large market.
In addition to
having access to a large and diverse talent pool, businesses that allow
employees to work remotely significantly
boost their productivity, reduces
stress, and reduces costs—both for the company ($5
billion saved in 2018!) and
Stanford study shows how working remote saves the employee’s
time, by removing the need to commute, and money, since there is no longer a
need to commute or purchase food or clothing separately for work.
benefits are just the cherry on top.
Effects of DT on How People Are Paid
The gig economy
changes the way payments are carried out. Here’s how:
Payments are of
two kinds: consumer-to-business and business-to-business (B2B). What separates
these two are the fundamental value-volume ratios.
transactions are classified as “low-value, high-volume” transactions. On the
other hand, business-to-business transactions are classified as “high-value,
workers in the gig economy are businesses-of-one, transactions made to them are
a hybrid of both B2B and B2C transactions.
industry has been upended because of the increase in such payments. However, it
has quickly adapted to change.
How to Succeed as a Business by Utilizing Digital
newly built market founded based on cutting-edge tech can be
In the face of
change and extreme competition for the best talent and the most profitability,
there’s now a very thin line between success and failure when running a business.
businesses taking advantage of digital transformation in the current market
exhibit these key traits:
Trait #1. Focus on the End User
what kind of business you’re running, the main focus should be on supplying the
users and customers with what they need.
into trying and incorporating new tech into your business, only in an attempt
to stay in lockstep with your competitors, is downright foolish.
newly built technology more often than not creates a lapse between the aim and
The purpose of
digital transformation is to make your services available to more customers and
to improve their overall experience.
practical use case for what you’re building, one that is outside the scope of
being an academic experiment and sticking to it to solve your customers’
problems, is the right way to go since it keeps the team from deviating.
Trait #2. Building upon Existing Infrastructure
You do not want
to be reinventing the wheel.
The only way that
the solutions a business offers will see an increase in adoption is by
seamlessly fitting into existing technologies, infrastructures, and protocols.
both businesses and people do not accept change easily will go a long way to
keeping your expectations in check.
Trait #3. Swiftness and Efficiency
have changed the expectations of the consumer. Users now expect an
There is an
increasing need for companies to conduct business in real time and add speed
and efficiency to their processes without compromising on quality and security.
The benefits that
digital transformation brings have led to widespread adoption of remote working
culture. According to Forbes, 66 percent of
businesses allow their employees to work remote, and 16 percent operate
millions of dollars to go digital may not bear fruit if your staff is not
ready—in both capability and capacity—to handle the digital transformation.
forth an important question...
How do you take
care of IT systems in parallel as you make progress on digital transformation?
This is where
AIDOOS comes in. We assist subject
matter experts from all around the world to connect with your business
remotely and get all IT work done.
The “pay as you
go” model gives you both control over your output and the flexibility to switch
things around whenever needed.
With over a
hundred categories of IT work handled, AIDOOS can help businesses build
leverage cloud talent and scale growth. This is how we envision scaling digital
transformation for both our clients and ourselves!