As we begin 2018, business owners need to hit the ground running. If you’re not up to speed with the latest technology, you’re already behind the pack.
This doesn’t mean that businesses must use every new technology as soon as they hear of it. But innovative business owners will stay up-to-date with the latest tech trends and inventions, so they can know whether their business would truly benefit, or whether a certain type of technology can be skipped or implemented at a later date.
As we see technology constantly change, with groundbreaking solutions seemingly arriving almost daily, it can be difficult to keep up. This is some of the game-changing technology impacting your business in 2018:
Blockchain is likely to be found in many mainstream businesses this year. Right now, the technology underpins bitcoin- the cryptocurrency. Mitek, an identity technology company, has predicted that 50% of banks will partner with blockchain companies which can redefine how companies function. Blockchain can provide secure ID solutions, impacting everything from food supply chains to banking.
Experts have been predicting the wide-scale implementation of augmented reality for years (who could forget how Pokemon Go dominated the headlines?) Augmented reality has yet to stick among businesses. 2018, however, looks like it could possibly be the year that augmented reality takes off.
Smartphones, perhaps the most accessible device for AR, are now powerful enough to support dynamic and highly customisable augmented experiences. As developer environments continue to improve, we can expect to see it in every industry imaginable. From interactive games to navigation services, all of us will eventually be using augmented reality every day.
The retail industry, in particular, will soon be employing AR. Companies will be able to use it to significantly enhance in-store shopping experiences.
We’re already using machine learning every day, and businesses are using ML for everything from customer segmentation to financial analysis. Machine learning allows systems to automatically learn from experience, improving without needing to be explicitly programmed.
Startups are already finding clever, unique ways to leverage this technology, and can use key insights from data sets to improve everything from product creation to customer service.
Companies like Facebook and Apple have been implementing machine learning to build intelligent prediction models for some time now. These algorithms eradicate human error and bias. In 2018, we can expect to see even more innovation in this space, as data intelligence and mining become even more pervasive among businesses of all sizes.
Internet of Things
There are now more than 8.4 billion connected devices worldwide. Each of these devices generates its own data, potentially offering businesses new insights. Approximately 1.6 billion of these devices were created specifically for certain industries- such as healthcare, utilities, and manufacturing.
Utilities, transportation, and manufacturing have invested the most in IoT so far. IoT is expected to create millions of jobs, fundamentally changing how manufacturing and business are done worldwide.
These devices offer businesses incredibly helpful insights, allowing them to use data from sensors and interactions between the devices and customers.
We’ve previously covered a few of the many ways AI will revolutionise many businesses in 2018. For many businesses. the issue will be finding the best ways to make the most of this technology, and finding the right talent and IT infrastructure to implement it.
From dynamic pricing to chatbots, digital applications to predictive analytics, artificial intelligence is arguably the biggest industry disruptor in 2018.
Is your business ready for 2018? Or do you need help implementing some of the above technology? If you’re hoping to gain a competitive edge this year, get in touch to learn how we can help.