“Digital transformation” catchphrase is no longer a novel concept

By: Sowmyanarayan Sampath
SVP & Chief Revenue Officer

Full Transparency

Our editorial transparency tool uses blockchain technology to permanently log all changes made to official releases after publication. However, this post is not an official release and therefore not tracked. Visit our learn more for more information.

Learn more

We have seen how quickly digitization is transforming all industries, and the “digital transformation” catchphrase is no longer a novel concept. In fact, it’s often an overused and “confused” phrase by companies. The time is now to invest in technology and build on the momentum from 2022 to get ahead in 2023.

This year, we saw rapid growth with new tech like Fixed Wireless Access (FWA), private 5G networks, 5G mobility adoption and more use cases for Mobile Edge Compute. The massive computing power and exponential increases in network speed are transforming industries. It is hard to ignore and we have seen an elevated focus and intrigue among C-suite executives, as well as tech and business media.

FWA, specifically, hit the streets this year and it is the fastest growing technology I have yet to see in my career. I believe 2023 we will see this trend grow even faster. New use cases will pop up that leverage the mobility it delivers and flood digital deserts serving customers everywhere.

Last, IoT is exploding to such an extent that we’re no longer just talking about connecting machines within industry verticals; we’re now talking about uniting the industries themselves through connectivity. Case in point —automotive + utilities. Powering a future where electric vehicles could eventually outnumber internal combustion engines will require the modernization of our nation's power grid. Meeting that additional energy demand means the grid will need to get smarter, more flexible, and better connected, using IoT sensors and intelligent energy resource management to balance the load during times of peak usage. The triangulation of auto, energy, and connectivity will make that possible.

2023 will see companies who invest in tech, despite economic fears, succeed. FWA will grow even faster than it did this year. And finally in my career, I can say 2023 will be the year IoT.

Hear more from the Verizon Business team on small and medium, enterprise and our public sector.

About the author:

Sampath is the executive vice president and CEO of Verizon Business, a global leader in 5G technology serving 97% of Fortune 500 companies. Sampath and his team help businesses, governments and communities reimagine their employee, supply chain and end-customer experiences. With $31B+ in annual revenue (2021), Verizon Business is leading the way into a new 5G-based era of technology-led innovation for its customers.

Related Articles

Verizon, Bloomberg Media, Zixi and Amazon Web Services (AWS) are working together to test how 5G and mobile edge computing can transform how global business news is produced, delivered and consumed.
Verizon and Cradlepoint, announce the certification of Cradlepoint’s W1850 5G Wideband Adapter to provide C-band spectrum connectivity across our 5G UWB Network, a milestone for Verizon’s FWA strategy