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Technology is already dramatically changing how you do business. From employees working remotely, to innovative new business apps, things are moving along at a breakneck pace. It all begs the question as to what tomorrow will bring, and if you’ll be able to take advantage of the new innovations.
The truth is that massive new innovations are already happening, and if you’re not ready to accept them, you risk being left behind. The best approach is, of course, to understand the technology before it arrives, thus putting you in a position to integrate the technology before your competitors.
Here is a look at the big new business tech innovations that are on the horizon.
Artificial Intelligence and Machine Learning
The world is buzzing with talk of artificial intelligence (AI) and machine learning (ML.) In fact, you don’t have to look far to see some or other company touting how the fancy new tech will revolutionise the world. But let’s get real here for a second, what exactly is AI and ML, and how are they really going to help?
First and foremost, AI and ML are extremely misunderstood. There is so much contradictory information, and so many unrealistic claims flying around, that you’re forgiven for not knowing what the tech even is. For example, there really isn’t that much difference between AI and ML as far as definitions are concerned.
In short, AI offers the opportunity to automate some tasks, help streamline work pipelines, and even take over menial jobs in some cases. Depending on your business, you’ll find that task automation is your biggest interest. Though, which tasks you’ll want to automate is a matter of preference. Either way, AI is going to potentially help you streamline your business, even if it likely won’t be as revolutionary as marketing departments want you to think.
You’ve probably already noticed that the world is increasingly more connected. From app-linked payment options, to streaming services on every platform under the sun, you can do just about anything on your phone these days. Well, expect this trend to increase dramatically.
The term you’re looking for is the Internet Of Things (IoT) which refers to the connectivity between real-world infrastructure. In practical terms, many warehouses and assembly plants now have smart meters to monitor productivity, built-in maintenance services to reduce overtime, and energy consumption software to optimise running costs. How this applies to your business remains to be seen, but if you operate a service that can be optimised with IoT, start looking into it now.
A great deal has been said about blockchain potential, and many businesses are now harnessing what the tech has to offer. Though, blockchain really will only apply to a company that handles numerous data or financial transactions on a daily basis. What is blockchain?
Blockchain is, essentially, a system that allows for the dramatically more secure, significantly more transparent transfer of digital information. Each block in the chain is essentially a digital ledger, keeping infallible track of information as it travels back and forth. Blockchain is, first and foremost, virtually unhackable, assuming that the servers on either end are also secure.
Blockchain is also infallible in its tracking of information, meaning that it is also nearly impossible to try and cheat the system. Hence, if your business is based on transferring data, blockchain is certainly something to take into account. In more direct terms, online gambling sites like Black Lotus casino are going to want to look into blockchain immediately.
With so many businesses operating online these days, internet speeds are a serious concern. There is nothing worse than productivity slowing to a crawl simply because data transfer rates are put under strain. The solution? 5G and other cutting-edge internet solutions.
The big draw of 5G is that, unlike with fibre and other physical mediums, the setup and maintenance is minimal. At least it is minimal in comparison to having to lay hundreds of thousands of miles of cables. 5G, without a doubt, will dramatically change how the world operates on almost every level, providing connectivity that has only previously been dreamed about. What does this mean for your business?
If your business operates online to any degree, 5G could be a game changer. In fact, if your business doesn’t operate online, the time is perhaps drawing near for you to make a switch. Virtually every business can benefit from an online presence, be it marketing or otherwise. In a nutshell, widespread 5G connectivity is a final solution to put the world at large into the virtual space.
VR And AR
Virtual reality (VR) and augmented reality (AR) are a tough nut to crack. The tech world seems to hover around the tech, trying to find some way to make it broadly appealing. But, make no mistake, there are many sectors in which the tech is extremely useful. It’s all just a matter of bringing down costs, finding the right industries, and taking things to the next level.
The big draw of VR and AR is that real-time, deeply immersive remote access can be given to just about anyone. If that doesn’t sound like something your business needs, imagine being able to fully showcase your product to a customer, no matter where they are in the world. Sounding a bit more interesting?
Again, some work is necessary before VR and AR are mainstream, but maybe start looking into it now to be an industry trailblazer.
Last, we have a tech that you may not have anticipated; cybersecurity. Yes, all the new tech, and the push to put everything online, comes with major drawbacks. Cybercrime is more prevalent than ever, and if you don’t start taking steps to protect yourself now you’re going to be in trouble soon.
Thankfully, cybersecurity is relatively simple, assuming that you’re using the right solutions. The reality is that many cybersecurity solutions are more of a pain than they’re worth, causing more inconvenience than anything. But, with new innovations cybersecurity no longer needs to be a slog.