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Rise of digital transformation and disruptive technologies
One of the major shifts witnessed in recent years is the scale and pace at which digital disruption is transforming industries. Emerging technologies around artificial intelligence, machine learning, IoT, blockchain have really accelerated this phenomenon. Every business today has to continuously evolve its business models, product/service offerings, operational processes, and customer engagement strategies to address these paradigm shifts. Competitive intelligence tools play a vital role in helping organizations understand external technology shifts and benchmark themselves against innovation leaders. These solutions aggregate and analyze troves of both structured and unstructured data to identify technology trends at an early stage. They also provide insights into competitors' tech adoption journeys, investments in breakthrough areas like autonomous systems, augmented reality etc. Armed with these insights, businesses can proactively reshape their digital transformation roadmaps and carve out new market positionings by developing disruptive solutions ahead of competition. This is a key driver for increased adoption of competitive intelligence solutions globally across industries undergoing massive digital makeovers.
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