You can’t run a successful business without adapting to the times. Technology plays an outsized role in determining what it means to be a modern company. It’s important for executives to know when an advancement is going to disrupt things. This is the case with these nine new technologies that are going to change business forever.
Robotics have potential applications in all kinds of commerce. Robots offer around-the-clock efficiency and accuracy, provided they’re maintained well.
Logistics and manufacturing are two industries that will see major benefits of robotic integration. But there’s truly potential everywhere. Even healthcare is already seeing robot-assisted surgeries.
As children, many of us dreamed of being able to make the objects of our imaginations appear before us. In a way, this is now possible with 3D printing technology.
These devices allow users to create objects by inputting design instructions into a printer. People have created all kinds of things with these printers—even fully 3D-printed sports cars and homes.
The benefit here is that you’re able to create fully functioning products for a much better price point than typical manufacturing processes. We’re just at the beginning of seeing 3D printing becoming an increasingly important part of our lives.
There’s so much talk about the future uses of artificial intelligence, it’s hard to find a list like this that doesn’t mention AI. Simply put, artificial intelligence in business is going to completely change how things work.
Business intelligence is one area that’s already seeing big changes thanks to the AI revolution. Some software applications like ThoughtSpot are already incorporating AI algorithms into their toolkits. AI in BI can dive deep into data, instantly spotting outliers and trends in large data sets.
The Internet of Things
Along with AI, the Internet of Things (IoT) has gotten a ton of buzz because of its potential to radically change life as we know it. There are potentially massive implications that go hand-in-hand with future IoT adoption.
The physical machines of our world will be able to engage in cohesive, automatic interaction in a completely new way. This machine-to-machine communication will vastly boost system efficiency, while also reducing the need for so much human intervention.
While most people have heard about cryptocurrency and blockchain, these concepts are still in their infancies. However, businesses are starting to see the huge opportunities that are present in using these things.
One of the biggest companies in the world, Facebook, is hoping to introduce its own form of cryptocurrency by 2020. Many other large enterprises, such as Visa and Uber, are on board with popularizing their libra cryptocurrency. This has the potential to open doors for far more international opportunities in ecommerce, advertising, and other transactions.
Virtual and Augmented Reality
Like many of the other technologies mentioned on this list, we’re just at the beginning of seeing the potential of virtual and augmented reality systems. A lot of people associate these things with entertainment; but they have more practical business potential as well.
For instance, both can be used in creating training modules for new employees. This can cut down on the amount of time it takes to teach someone how to perform complicated procedures, while also freeing up others from having to field questions.
Many people are already using virtual assistants like Alexa and Siri in their personal lives. But this tech can be a game-changer for organizations as well.
For one, virtual assistants can be great time-savers for employees. Being able to just speak and receive a response cuts down on query times.
It’s no secret that automation is boosting efficiency across the business world. Enterprises that can effectively implement automated processes run smoother, with fewer errors. Of course, there’s a ton of ways this can be used in assembly and logistics. But it really has applicability in any repetitive task, including payroll.
Technology is constantly changing. It’s important to stay current on the newest trends so your business keeps ahead of the game.