Digital First...And Throughout

The evolution of digital technology for consumers is entering its third phase. The first phase, driven by data compression that made it possible to transmit data over existing communications systems, created new markets, services and products, including broadband. The second phase, which brought disruptions to businesses, saw the creation of smartphones, search engines and social media. The third phase of the evolution of digital tech for consumers is just beginning, and it involves focusing on making digital contact between business and consumers and making digital technology the first part of business operations – in short, Digital First and Digital Throughout are becoming critical and essential ways for businesses to function. Digital First is driven by the behavior patterns of digitally trained consumers, and it is forcing changes in existing business models. Digital Throughout is driven by the market necessity to achieve greater efficiency. This is leading to most consumer-facing companies, via investments and mergers and acquisitions (M&A), becoming tech companies that also market products and services.