Modern technological trends like Robotics, Bitcoin, AI, and many more are revolutionizing the business industry. A recent survey showed that businesses are spending huge sums on technologies and services.
Technology plays a crucial role in businesses by saving a lot of time, as well as saving your enterprise’s security. You won’t be able to find any industry that does not have a direct influence from technology. The recent technological developments have brought several changes in the functionality and behavior of individual organizations as well as the whole industry.
The use of technologies helps businesses to accelerate their growth, revenue, performance, and efficiency. Technologies allow businesses to bring in success and to achieve better. Here are the top 7 business technologies reshaping the whole business industry.
- Artificial Intelligence (AI)
Artificial Intelligence is showing its presence in almost all industries. They offer better services and experiences to the customers. Thus, their customer journey becomes more enjoyable. AI augmentation is increasing business value and work productivity. It allows business owners to have smart predictions on the changing market trends through different channels like surveys, social media data, financial institutions, and consumer data. AI-powered chatbots are deployed on most business websites to offer 24/7 customer service.
- Internet of Things (IoT)
The emergence of the Internet of Things is helping businesses to execute their operations more efficiently. You can control the operations and devices of your business including smart offices, smart security alarms, car automation, smart homes, etc. It is estimated that more than 11.4 billion smart devices are being used worldwide.
- Voice search
Several experts believe that the emergence of voice search will bring significant changes in the retail industry. According to a report from May 2016, Google claims to receive 20% of its mobile queries in the form of voice searches. As technology is advancing daily, people will become more accustomed to and comfortable with using voice searches. Online shopping will become easier with voice searches.
- VR and AR technologies
AR has already shown a significant impact on the gaming industry. Both AR and VR can offer various benefits to the business industry. They can put digital information into practice in the real world and can open up many opportunities that would create better customer experiences. It can also be used to help customers see a product from various angles.
- Blockchain and digital currency
Blockchain is a data structure that would record transactions and offer decentralization, transparency, and security. Transactions in the blockchain are encrypted digitally, keeping the data more secure. Cryptocurrency is a well-known application of blockchain. Many companies are building their own cryptocurrencies.
Automation integrates automation tools, machine learning, and packaged software to offer better results. Businesses can stop wasting their time and resources on routine tasks by implementing automation tools.
- Cloud computing
Cloud computing is still considered to be in its infant phase and its real potential is still unrevealed. Cloud-based phone systems have been helping businesses worldwide. Cloud computing is also used in webinars to perform recorded video presentations and interactive live via cloud computing platforms.