Several economic factors have made collaborating more relevant for smart specialisation. Smart specialisation is ripe for innovation. Although technology is available for smart specialisation, several proposals have supported adoption, such as digital skills within the function and other priorities for leadership. These factors have made the smart specialisation collaborating industry attractive for leading investors that were already engaged directly or indirectly with this function.
In smart specialisation, the rapid pace of the technological growth has the potential to make everything easier, data-fostered, and automated. Digital transformation has become essential for every industry, even if it is traditional firms which are based on people relationships like smart specialisation. Smart specialisation needs to remodel to the technological changes to provide modern investors with more investor satisfaction. Digital transformation in the smart specialisation sector can be achieved by making people, process, and technology function together.
Before going deep into smart specialisation, an idea on what digital transformation and automation in business are, is important.
Digital transformation is the adoption of digital technology to transform facilities or organisation, through replacing non-digital or manual processes with digital processes or replacing older digital technology with newer digital technology.
Business process automation, also known as business automation or digital transformation, is the technology-enabled automation of complex business processes. It can streamline a business for simplicity, achieve digital transformation, increase service quality, improve service delivery, or contain rates.
Digital transformation and automation require good investment and proper planning. They require transformation plan, strategy, tools, and technologies. More than these choosing the best required solutions with the apt technology always matters.
In most of the organisational context, data fostered digital transformation is mostly explained in terms of real time collecting, analysing, and predicting concerns. But in a wider context it appears to be more than that. For organisational transformations, we require specific modules which include energy management, security management, investment automation, maintenance, and implementing application of technologies like machine learning, artificial intelligence, robotic process automation, and virtual reality.
If all the organisation’s data are available at a common system, the needs that concern stakeholders, invoices, inventory, maintenance etc can be automated and well taken care of in real time. This implies that for firms employing smart specialisation, integrating digital solutions into their delivery model is vital to recognise, trade effectively, provide reliable and efficient service, and the key to ensuring industry success.
Real time collection, analysis, and decision making are the core of digital transformation. These are considered as some of the important factors and whoever has the ability to gather and analyse information quickly leads the industry. Providing modern stakeholders with data and investing through technology can attain new heights for the smart specialisation sector.