Trending Technology and Business
Updated: Nov 25, 2021
Business and technology are interconnected as the body and the soul, respectively. Technological Innovation is the key to what humans have achieved today, and It's a timeless journey of growth. However, we have seen technology keep changing now and then. As a result, what worked in the last decade might not be relevant today. So, it's a challenge as well as a reward to keep your business updated with the latest technology.
This article will help you keep an eye on the trending technologies that have transformed today's business and industries. Let's have a look at some of them:
Artificial Intelligence: Artificial Intelligence is a large ocean consisting of technologies like Machine learning, deep learning, natural language processing, etc. it can change whole industries the way they are working today. Tech giants like Google, Amazon, Facebook, Microsoft, and others are implementing these AI techniques in their algorithms to create an outstanding user experience. Small businesses are also trying to establish more virtual connections with their customers with the help of AI.
Advancement of 5G technology: The Internet is the whole and sole base of global business and transaction today. Recent progress in 5G technology has helped penetrate internet connectivity in every nook and corner across the globe. In addition, 5G technology has boosted the speed of data transfer and more reliability on the online shopping experience to the customer. It's been an outstanding achievement in the last decade.
Tech-assisted shopping and online food order: Online shopping is the new norm. Corona Pandemic and lockdown has also embraced the technology that helps us to order online. Be it food, clothes, grocery, or any shopping; we have been used to ordering online from companies like Flipkart (for shopping), Zomato (for online food order), and BigBasket (for grocery order). So, businesses need to update themselves according to the demand.
In real meaning, online shopping is a win-win situation for both- customer and the company. Why so? Because for customers, it's handy to order at the click of a finger at a discounted price, while on the other side, businesses are booming for offering a smooth online user experience and customer support.
Increasing demand for cyber security: We discussed how online shopping and IoT(Internet of things) had made lives easy, but the other side of the coin is that online fraud and phishing scams are a more significant threat. In 2020, the average cost of a data breach was USD 3.86 million globally, and USD 8.64 million in the United States. As a result, tech companies like IBM and HCL are uniting together to fight against cyber threats. So, it's a challenge and an opportunity for other businesses to develop the security tools to integrate and enhance the modernized security operations.
Cloud: Quoting on cloud Steve Jobs, late chairman of Apple (1997) has once said, "I don't need a hard disk in my computer if I can get to the server faster... carrying around these non-connected computers is byzantine by comparison." Though we have made far more progress than just storing the data on the cloud today, virtual data immigration and connectivity were never so seamless now than ever before.
One of the fastest-growing innovative startups called Intuition System, matching the pace with the latest technology, has developed a cloud-based POS (point-of-sale) software. As a cloud-based system built for restaurants and retail, IVEPOS offers functionality like mobile POS systems, inventory management, sales analytics, CRM, and customer loyalty on an easy-to-use interface.
Numerous other technologies are transforming the way of business today. Some of them are Digital marketing, Big Data, Online learning, Virtual reality (VR) and augmented reality (AR) technologies, autonomous driving, Telehealth and telemedicine, remote working collaboration, etc. These technologies are not only helping businesses operate smoothly but also creating a wow experience among users to rely upon them with a safer hand.