As a business, there are some emerging technologies you should pay attention to. Learn what they are and how they’ll impact you.
Technology is changing our business world as we know it and with things like Crypto currencies, Chat bots, AI and IOT (Internet of Things) impacting everything.
Unfortunately, many businesses aren’t quickly adapting to these changes even though they’re rapidly entering the mainstream. What they fail to understand is that implementing just one of these innovations will make an immediate, visible impact on their sales and revenue.
This is why I would like to address these individually and hopefully businesses should get an insight to try one of them.
Virtual Reality and Augmented Reality
Augmented Reality (AR) is focusing on product visualization today. With the help of technology, businesses will find ways to use AR to showcase their products in real time.
AR is already making a great impact on technology today and it will come in handy in a few years where by customers will view products in real-time in 3D so they can try them before they can buy them.
Adopting automation tools will almost instantly help your business improve since you’ll no longer waste as many resources on tedious, but necessary tasks.
Practically speaking, automation software can be integrated with existing systems to speed everything up, create the updates you need, and even re-order the products your business depends on. There are already some online platforms like Marketo and Salesforce that you can use to automate many of your most common marketing, sales, and management tasks.
IoT (Internet of Things)
The Internet of Things (IoT) uses the internet to bridge gaps between specialized sensors, actuators, networking, and real-world objects. This is creating a lot of new opportunities and products that we’d either never imagined or only dreamt of before now.
IoT makes it possible for you to control objects and operations — including things like the smart home, car automation, intelligent security alarms, and smart offices etc. Those who are embracing this have found great reasons for their devices to view, listen to, and even analyse information in real-time.
With about 11.4 billion of devices connected to IoT Technology around the world today. These devices are proving to be very valuable for making investments, seizing new opportunities, and reducing the total cost of operations.
In the future, we’re bound to see more real-time actions occurring through IoT platforms, sensors, networks, and data analysis techniques.
Software as a service (SaaS) seems out of place since it’s been around for so long but in actuality, it’s still in its infancy and its potential hasn’t yet been fully realized. This is especially true in the small to medium business market.
Yet, there are many different tools being offered here today that are fully targeted at small businesses — things like a cloud-based phone system. The reasons for targeting small businesses is obvious.
They include easier improvements, more frequent updates, back end management without the headaches, and decreased roadblocks that are paving the way for other new tools.
This is one of the major technological innovations where your customers no longer need pick up a phone or fill out an online order form. Instead, they’ll login to an app and quickly place their order.
This can take place on Facebook, WhatsApp, Slack or various other chat apps. Doing so will significantly reduce friction since people spend so much time on their phones today.
There are already many inexpensive online tools that will make it easy for you to create chatbots — including MobileMonkey, ManyChat, ChatFuel, etc. These will help you to build a powerful AI-driven chatbot even if you don’t have any coding experience.
Digital Currency and Blockchain
Blockchains are a type of electronic ledgers that are almost completely reliable in their record keeping. Their underlying technology is complicated, but their benefits are clear: security, speed, and full control.
One of their best-known applications is cryptocurrency — a type of digital currency that’s stored on a huge network of buyers’ and sellers’ computers (e.g. Bitcoin). You don’t have much to lose in choosing to prepare for what some experts are calling “the inevitable move towards cryptocurrency.” You simply set up a wallet and integrate it with your point of sale or online payments system.
We’re also starting to see many alternatives to Bitcoin being created today. These are all based on the same underlying technology though. One thing that’s important to remember here is that while the trends and currencies are changing over time, the underlying technology and implications are bound to eventually influence businesses of all sizes.
This is why it’s a good idea for you to get started with this today, instead of waiting until later to get involved.
Top Developers says, a combination of AI, machine learning, and natural language processing (NLP) can really disrupt your life with their radical computational power.
This technology can understand users’ behaviour and patterns in milliseconds. It can also solve many problems in an automated fashion. As the amount of information businesses have has grown even bigger, it’s going to become difficult for engineers to handle all this data, act on it, and provide us with relevant information.
AI can help here because they’re able to work like humans — only much more efficiently. Early adoption of this technology will help businesses grow at exceptional rates.
What other technology do you think business need to embrace today?
Author: Emmanuel Luvuuma
Emmanuel is a freelance writer and an advocate for digital inclusion across Africa. He has taken on many roles such as the Community Manager for Kafeero Foundation, a Digital Skills trainer and as an IT Support Guru.