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4Digital Transformation Models and Digital Disruption

As we enter a new era of technology‐driven customer service, businesses must adapt their operations to meet the demands of the digital age. Digital transformation is forcing companies to reevaluate their business models and find ways to better serve customers anytime, anywhere, in the format and on the device of their choosing. To do this, businesses must proactively invest in technology and take advantage of the opportunities presented by cutting‐edge solutions. This chapter highlights some of the models that have emerged as a result of AI and the disruption caused by the digital revolution and its overall impact on society as a whole.

New Models Evolving

Progress has shown that companies that fail to invest in digital transformation risk falling behind their competitors and, eventually, suffering from lost market share and financial losses. On the other hand, those that embrace digital transformation can bring greater value to customers through a more relevant customer experience.

In fact, research demonstrates that highly engaged customers are more likely to purchase frequently, spend more per purchase, and have three times the annual value compared to the average customer. Other statistics reveal that 35% of executives credit digital transformation with helping them reach customer expectations and improve operational efficiency, and 38% of executives plan to invest even more in technology to make it their competitive ...