COVID-19 Drives Unprecedented Digital Acceleration
By: Lisa Chai, Sr. Research Analyst
Microsoft has seen two years' worth of digital transformation in just two months, according to its CEO in a recent earnings call with investors. Digital transformation empowered by artificial intelligence (AI) has been critical to many industries during the Coronavirus pandemic. Telework, e-commerce, grocery delivery, and digital media are just a few of the areas that have seen the most dramatic transformation. Without cloud computing and next-generation workflow solutions using machine learning, companies would have struggled to have employees work remotely and efficiently. Real-time data solutions and the digital way we are all connecting with each other will be further propelled in the coming months as many of the governing states begin experimenting with opening the economy.
Twilio has stated that digital transformation projects that could have taken years, such as transitioning from an on-premise contact center to the cloud, instead took just a weekend to do for many of its clients. Twilio’s AI developer-based platform played a critical role in allowing agility for enterprises for digital engagements such as messaging, email, voice, and video so that many parts of the economy can continue working. Software developers have been reimagining and reconfiguring their company systems in real-time using Twilio’s solutions such as AI-powered bots and video applications. One example is Epic Systems, a healthcare software provider that manages the health records of 250 million people. Epic mobilized to build its own Telehealth platform, powered by Twilio's programmable video, which allows for virtual visits and reviews of relevant patient history. Blackboard, an educational technology company, also engaged Twilio’s solution to connect families, students and teachers as school closures came into effect.
The modern architecture that draws on AI, machine learning, and analytics will continue to maximize and deliver a high-quality experience for the end-user as we enter into this new era. Our Artificial Intelligence Index (THNQ) uniquely captures key industry and technology leaders that are powering the rise of AI as the world gets connected and becomes more intelligent. Massive advancements in computing power are being used for next-generation AI-driven business processes that will expand worldwide spending on the technologies and services enabling this digital transformation to reach $1.97 trillion in 2022, according to IDC. Meanwhile, McKinsey believes that applications in the AI market alone are expected to quadruple in size to $127 billion by 2025.