Eight ways Technology is Changing Business
Technology has been changing rapidly, which has a direct impact on today’s business model. There is a lot of new technology and innovative concepts coming in market day by day, mostly made for the business sector or enterprise. People are ready to adopt new technology in today era. Today we’ll see eight ways technology is changing business.
Technology have influenced business to improve their product and services by speeding up a business process, making a higher profit at much lower cost and to get more customers. And the technology in business changes the living standard of humans on the earth.
1. Artificial intelligence
We have heard about the AI from the past few years, which we could see in mostly all upcoming Smartphone, Cameras, Robotics, as well as Cars. AI will have major influence on future business.
AI will help the firms to analyze the behavior of their customers, which users their products on daily basis. AI will also enable them to know if they are losing their customer. If the small-scale firms may not be able to afford the Data Scientist, maybe this problem will also be solved by AI. With the help of technologies and software, AI will bring commendable changes in business functioning.
2. Driverless Car
A self-driving car also called Driverless car, is the vehicle which will sense information through the environment, and drives, without any human interference. These cars have multiple sensors, such as GPS, radar, Sonar, etc which will show the appropriate path to the car. Companies like Google, Tesla, Toyota, and Mercedes-Benz are still working on to develop this technology.
These car will change business models for transportation services and reduce transportation costs. The safety of passenger will be increased and also helps to reduce traffic on road.
Several Online shopping companies are ready to adopt this new technology in product delivery sector. Many companies have been working on the development of drone for courier transport. Drones are ready to deliver packages on landing pads placed on the roofs or sides of buildings.
Amazon, the most famous online shopping company in the world, is working on delivering the products, which will be delivered in 30 minutes or less. Soon there counterpart will also adopt these technologies for delivering there products or other domestic purposes.
The data in a blockchain are called as ‘blocks’ and every block is connected to the previous block, hence it is called as BlockChain. The chain is self-managed, Hence there’s no person or organization in charge of the entire chain. Blockchain works on Blockchain technology.
Blockchain technology is a solution to the problem of storing large data, authenticating and securing data. The blockchain is a decentralized and most secured database. While nothing is ever ‘hack-proof’, blockchain is better than today’s data security technology.
Healthcare, insurance and Financial services and other sector are ready to adopt blockchain technology.
Read More: What is Blockchain? (Basics)
5. 3D printing
Due to growth in automation, requirements of 3D printing in manufacturing and other industries are increased day by day. There are various tools which are used to cut objects such as metal but this process is time-consuming and requires more effort. But in 3D printing it is easy to create an object by laying down or adding, layers of material. 3D printing can be done on plastic, metal, concrete, powder, liquid, chocolate or even on sand.
3D printing can create a complex structure and pattern in just a minute and also uses minimum material. It can customize the product as per the requirements.
6. Cloud Computing
Cloud computing is a system, in which data stored on centralized location off-site. Due to that any device connected to the cloud can store or retrieve data at any time from anywhere and any device. Cloud computing is used to store and recover data, web hosting, streaming of audio and video. Many companies are turning towards cloud to stored there data on the cloud.
For over the last few years, Amazon Web Services (AWS) has been the world’s most preferred cloud platform followed by Microsoft Azure. So if you are looking to moving towards cloud then, AWS/Azure are good for you.
It will provide you with 99 full-featured services for database, storage, mobile, Internet of thing(IoT). Enterprises applications are available in nearly 16 geographical regions.
- Reduces IT costs.
- It’s flexible.
- Greater Reliability.
- Improved collaboration.
- Increases security.
- Improves data integrity.
Bonus points by Rajan Bhave:
7. Better IT Management
Managing people, assets, and business services is always an vital thing. You must have an proper management tool or software for ensuring and managing proper healthy work environment.
8. Mobile Solutions and Social impact
This is 2019. People are more attracted rather addicted to their smartphones than PCs. Hence, mobile solutions are best to engage connectivity & increase sales generating more profit.
People also like to be on various social media platforms like Facebook, Twitter, LinkedIn, Tumblr, Quora, Reddit, etc so many. Generating sales from millions of customers will be quite easy because of such platforms.
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