Businesses are driven by technology more than ever before. From greater efficiency to lower running costs, technology continues to move businesses of every sector forward. Knowing the next new tech trends to develop and integrate into your business model means being aware of those trends that are already being adopted by forward-thinking brands. While not every new tech development is suitable for every business type, these three business tech trends are the ones making a big impact in 2019, and look set to become an integral part of the B2B and B2C growth strategy. Ignore these trends, and you might find that your business starts missing out on cost-saving and profit generating potential.
The AI Potential
No discussion of emerging technologies is complete without a mention of artificial intelligence. Long assumed to be nothing more than a sci-fi concept, the modern version of AI may not be what Hollywood promised, but it’s transforming business models around the world. There are three main tiers of AI, and your business should be looking into making use of either:
- Cloud-native AI: More cost-effective than the alternative options, there are already tech startups offering AI-as-a-Service choices.
- Packaged AI: The total AI package and product is set to become one of the fastest growth areas for tech companies.
- Open Algorithm: Boutique software startups are investing heavily in specific AI task management products that can be tailored to a company’s set requirements.
Organizations that adopt greater use of AI are using machine learning and variations of alternative cognitive technologies to cause huge changes to business management and structure. From managing data, sourcing talent, and providing better customer service, AI is becoming an integral part of the modern business world.
Automation is certainly one of the most exciting tech trends, although it’s not a new concept. Businesses have been automating workloads since Henry Ford, but the transition to digital automation has disrupted the social and business landscapes. When people think of automation, they think of robots in factories, and while Amazon is working hard on that, it can also be seen at supermarket checkouts and behind the scenes data gathering and analysis for e-commerce outlets. Even small brands are able to start making greater use of automation, and it could be the key to greater efficiency and reduced costs.
The subscription model is losing its dominance, especially in terms of the manufacturing industry. Ongoing payments for vital services are no longer a set requirement for any business, but manufacturing especially has been exposed to the freedoms of emerging products and resources that can help to lower design and development costs. One example is the transition from subscription-based PCB circuit board products to the perpetual licensing of Altium products. Transforming the workspace through actualized freedom of design and growth, business factors like PCB design have never been easier or more accessible.
Some tech trends are still trying to establish their presence. While potentially impactful tech like biometrics and the IoT are still being evaluated, these three cornerstones of technology implementation have been the dominating factors for company growth in 2019. Make sure that you keep up to date with these and any emerging technologies that fit your sector. The more that you are aware of the pros and cons, the easier it will be to assess the value of new technologies and their potential impact on your business management and growth.