How technology is changing the business world

    Considering how much technology is growing today, it only makes sense that it will have a major impact on the business world. Check out how things are changing.

    24th Jan 2018
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    Technology is growing by leaps and bounds every year. Since businesses are dependent on this technology, it only makes sense that these changes are going to have a great impact on how businesses work today – their work culture included. You'll want to keep up-to-date with these changes so that you can incorporate them in your business and improve how you do things.

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    The Goal of Today's Tech Trends

    Businesses can't afford to be stuck in the past. Outmoded technologies slow your business down. However, technology itself is quickly changing today. It doesn't matter what industry you're in, there are lots of practical uses for technology today. For instance, the robots that were once only seen in science fiction now have practical uses in manufacturing. Businesses aren't far behind thanks to 3D printing.

    According to Singularity Hub we haven't seen the end of these changes either. In fact, they believe that while we've already seen some great new technologies, what we'll see this year is yet unparalleled. They believe that this year we'll see technology that will prepare us for even bigger advancements in the near future. The end goal is to fit a lot of information in a really small space – slowly but surely we're getting there too.

    Manufacturing has the most to gain from these changes. This industry has driven the world as we know it for some time now. In the past it was a greasy, hands-on field but today it's cleaner than ever before with some rooms that are actually spotless because choreographed robot arms are replacing old assembly lines. The growth of AI in the business world is just beginning though.

    Major Shifts From Tech Trends

    Domo says that there are a few major shifts that businesses can't afford to overlook today. These are mainly coming from things that include:

    1.   The Internet of Things (IoT) refers to sensors businesses are now implanting in devices including smartphones, smart cars, and those involved in industries such as data transmission and healthcare. These sensors can track anything and everything including how much energy is needed to move cargo, exactly where the cargo is located, what the most popular items are, and how the human digestive tract really works. This gives us a lot of big data today. Those businesses that can harness this data and decide what's really important can make really well-informed decisions. For instance, stores use cameras today to understand their customers' behavior so they can create marketing campaigns that are more targeted.

    2.  Artificial Intelligence (AI) allows developers to program systems that power smart machines. These carry out many different tasks including face recognition and smart driving cars, automating time-consuming processes, and analyzing information. Simply put, the impact of AI is massive, especially when it comes to its role in business intelligence.

    3.  Advanced machine learning takes AI a step further and teaches computers how to quickly analyze data from images, videos, maps, and handwriting.

    Noteworthy Tech Trends

    Seeing and understanding the trends in technology becomes even more interesting when you can actually see how they're being used in the business world today. These tools include:

    1.  The ability to work from anywhere because now you can always be connected. This allows businesses to attract better workers who can be more productive too. Businesses not only need to worry about protecting their data but they also need to realize that not everyone can work in this way. Nevertheless, businesses are now offering at least some flexibility in this regard.

    2. Robots are now efficiently completing tasks only humans could complete in the past. Voice activated technology is common both at home and at work but Momenta Group says that cognitive functioning is coming soon as well. This means robots won't only listen to your commands, but they'll also detect your emotions and adapt or react appropriately.

    3.  Mobile cloud computing boosts productivity because people have real-time access to the resources they need regardless of where they are. An example of this handling data storage remotely instead of on your computer. This is beneficial because it improves productivity, satisfaction, loyalty, and operational efficiency.

    4.  Microlearning through videos, quizzes, text messages and games allows employees to take more personal responsibility for their career development without paying a lot for it. Now employees can grow more competent and skilled quickly, which is beneficial for businesses.

    5.  Videos, podcasts, and infographics are great new ways of delivering more creative and effective sales presentations. When immersive technologies such as virtual, augmented reality are also used here training and conferencing are enhanced because this brings situations to life.

    6.  Mobile and tablet-friendly payments make it easy to process transactions without buying expensive POS systems that take up a lot of space. Now consumers can directly transfer their money to your business through their mobile device. With built-in loyalty cards a growing number of people want to use their mobile wallet today.

    7. Drones aren't just gadgets for hobbyists anymore. Career Addict says they're now saving businesses money and allowing them to quickly deliver products to their customers today. These increasingly more functional tools are like programmable flying robots that are particularly useful for those in the photography, cinematography, engineering, and agricultural industries.

    8.  Wearable devices like smart watches aren't only great for mainstream use but businesses are finding them useful today as well. This is because they offer hands-free opportunities to access data, update information, and manage inventory. Many companies also use them to encourage employees to get more active, which benefits the company because their employees are both happier and healthier so they're more focused and productive too.

    You can see that there are a lot of great uses for technology throughout the business world today. What we're now seeing is only the tip of the iceberg though. What we'll see in the future is beyond what the human mind can even imagine today. This is what makes the times we live in so exciting, especially for businesses.

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    This is a YourStory community post, written by one of our readers.The images and content in this post belong to their respective owners. If you feel that any content posted here is a violation of your copyright, please write to us at mystory@yourstory.com and we will take it down. There has been no commercial exchange by YourStory for the publication of this article.
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