Tech Is Changing The Future Of Business. Here’s How
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No matter what type or size your business is, technology will inevitably play a part. And, given the rapid speed at which tech is changing and upgrading, it seems inevitable that it will only come to have a greater role as time goes on.
The companies and wider industries that are able to adapt to some of the biggest trends early on are likely to fare better than those that don’t, particularly considering that the pace of evolution will likely only increase.
It really is an exciting time for businesses, particularly as we currently stand just before the widespread introduction of some really game-changing technological advancements. Here are just a few that look set to alter the landscape for good.
1. Virtual reality
Virtual reality (VR)home isn’t just one thing. In actual fact, it is a whole set of different technologies, all of which work together to create immersive worlds for users. A related advancement, which will probably enter the mainstream a fair few years after VR, is augmented reality, also known as AR.
Both are interactive and use computer-generated imagery to broaden the scope of what it is possible for businesses to offer their consumers.
How virtual reality is being used in business?
VR and AR can both be used to improve customer experience in a number of different areas. In customer service, for example, they offer an enhanced opportunity for customers to “try before they buy,” while in education it can be used to immerse people in real-life training scenarios.
However, probably the most notable use of this technology has been to facilitate remote working in response to the coronavirus pandemic. Allowing people from different locations to come together in more realistic, collaborative working environments, VR and AR are likely to become increasingly popular as a means of bringing disparate workforces together, even at the most trying of times.
2. Business Mapping Software
Having been invented back in the early twentieth century, the use of drones increased relatively gradually for many years. But, in the modern-day, as technology becomes less expensive and wider spread, the perception of them has changed. Now, instead of being considered almost alien-like, they have a place in many people’s homes and are used in day-to-day life for photography and filming.
How drones are being used in business?
For businesses specifically, drones offer a great many benefits, and ones that could help companies in particular industries keep competitive. So, as well as their involvement in emergency rescue, military operations, and missions to outer space, they also have immense potential in the areas of marketing and eCommerce.
For marketers, drones present an efficient means of gathering valuable data. And, in eCommerce, they are increasingly being used as a way to get products to consumers more quickly. In fact, Amazon, which is the biggest eCommerce company in the world, has announced its plans to use drones for a contactless delivery program that promises delivery in 30 minutes or less.
4. Artificial intelligence
It doesn’t get much more futuristic than artificial intelligence (AI) and machine learning. Basically, thanks to computers capable of solving problems and learning complex processes, it is now possible for organizations to increase efficiency and productivity by cutting out time-consuming manual processes previously done by humans.
How AI is being used in business?
Tech blogger, Antoine Bechara says, AI has the potential to massively improve marketing in particular. “For one thing, it can pull together data from a vast number of different sources and interpret it in a fraction of the time of a human. Consumer behavior, preferences, and more can be mapped out far more effectively, allowing companies to offer an improved, more personalized service to their customers.”
Not to mention the fact that AI is capable of conversing with people in a way that is virtually indistinguishable from humans, as the rapid rise of chatbots has demonstrated. These give businesses the chance to respond to large numbers of customers all at the same time, without having to hire teams of dedicated call centers or complaints reps.
What impact are these technologies likely to make?
Looking ahead, it’s difficult to determine just how great a role each of these technologies will play in the normal functioning of most businesses. However, with the rate at which they are being developed, adopted, and applied to new areas, it’s a pretty safe bet that they will come to define future industry standards.