New digital technologies are totally transforming the way that companies do business. From cloud computing to AI and remote employees, there are countless trends to keep your eye on as you plan your business strategy. Sometimes, the pace of technological development can feel pretty daunting – how can I keep up when I’ve only just started learning about these new techs?
And how can I successfully implement new tech strategies into my business without breaking the bank or losing valuable time and capital retraining my employees? Every company will face different challenges, and those challenges will each have their own best tech solutions. Check out this list to get a sense for some trends you should keep an eye on that might help your business succeed.
- Artificial intelligence. If there’s one huge area that is shaking up every part of the business world, it’s AI. Now don’t get too excited, you won’t be seeing a robot showing up for an interview in a suit and tie. Most AI is provided as a service that you can purchase through companies like Google and Amazon Web Services. AI tools help you keep track of all the important analytics that your company needs to. Is there a new growing market for one of your services? You can use AI to see what the best strategies might be for tackling that new market and staying ahead of competition.
- Big Data. AI is so successful because it has access to big data – basically, huge quantities of data that can be analyzed to figure out where trends are headed. For instance, maybe people are more likely to buy car insurance when it’s been rainy for more than two weeks. Or maybe customers return to your store 40% more often when you use air fresheners and have house plants. These are the kinds of statistical results you can learn when use big data to track the way that your business operates in the market.
- Quantum computing. Well, we are pretty much at the sci fi future part of human history now, because quantum computing is a thing. What is quantum computing? The details can get pretty technical, but basically, by accessing quantum processes that allow entities to exist in two states simultaneously, a quantum computer’s processers are able to expand beyond the traditional binary 0 and 1 states. That opens up a whole range of possibilities for computations that are much faster, much more efficient, and unimaginably more complicated!
What does that mean for your business? It means that analyzing trends, crunching data, and suggesting strategies can all be done much faster, more efficiently, and accurately. You probably won’t have a quantum laptop sitting on your desk anytime soon, though, so definitely consider investing in the next item on this list.
- Cloud services. It seems like you can’t enter a contemporary office environment without hearing excited talk about cloud-based solutions. What is the cloud? Well, cloud services offer data storage, computing, and client services all through the internet.
Basically, instead of storing all your important business data on a desktop hard-drive, the cloud allows you to keep all that information on the internet so that it can be accessed remotely. Plus, many cloud storage solutions don’t just offer space; they offer analytics tools that can help your business grow, including the aforementioned quantum computing.
- Remote workers. The American office has long been defined by the 9 to 5 worker who shows up at their desk in the morning and clock out in the afternoon. Cloud computing, AI, and changes in the economy are gradually shifting this model. There’s now a growing league of folks who work from home, or cafes, or hip, aesthetically-savvy co-working spaces.
This is important for your business because some of your best talent may expect at least part time remote work! That’s a good thing, though, as this can lower your overhead costs for building operations, and raises morale in your team!
Changing tech can mean a lot to be on top of, but as long as you keep reading up on the latest developments and finding effective ways to implement them, your business will stay ahead of the pack.