Digital Transformation
A long-term shift from old company models to more digital or tech-enabled models is known as digital transformation. The purpose of digital transformation is to turn enterprises into digital businesses that can capitalize on opportunities generated by the changing business environment, such as increasing connections and the Internet.
Digital transformation examples
Let’s look at some examples of how businesses have benefited from digital transformation to better understand how we got here:
Netflix
Netflix began as a DVD rental service in 1997 and has now expanded to include streaming services. The company didn’t go public until 2002, and House of Cards was the corporation’s first original production. Netflix has over 100 million subscribers worldwide and is available in over 190 countries.
Amazon
In 1994, Amazon began as an online bookstore but quickly grew to sell gadgets, software, and clothing (which now accounts for 50 percent of its revenue). Amazon sells consumer gadgets such as e-readers and tablets under the Kindle brand name in addition to selling merchandise online. Its Amazon Web Services section also offers cloud computing services (AWS).
Agriculture and Youth development.
Digital transformation in Agriculture and Youth development. The African Institute for Economic Development and Planning (IDEP), in collaboration with the African Union Commission and the Food and Agriculture Organization (FAO), commence a 4-week online training on digital agriculture entrepreneurship focusing on how to design and pilot digital innovation strategies to support the transformation of youth in agri-businesses.
In their drive to address the concerns of food and nutrition insecurity, climate change, youth unemployment, and general economic growth, African governments have prioritized digital transformation in agricultural transformation in their Development Agendas (2030 and 2063).
Agriculture’s significance in the continent’s evolution is undeniable. For the time being, the sector offers the best possibilities for inclusive growth and employment.
Governments and development partners must reengage in new tactics and sound rural and agricultural development policies to effectively address employment and growth difficulties as youth underemployment has increased, resulting in a variety of socio-economic challenges.
