Tech solutions and advancements have become an integral part of our lives. From managing daily tasks to micro and macro managing business operations – tech proves to be helpful everywhere!
With their advent, online marketing has also become famous and has become THE way to do everything! It has given a blow to the traditional commercial system – not that it doesn’t exist anymore, but a majority of business persons wish to operate digitally. This gives them the opportunity to grow a broader client base and the freedom to operate beyond their territorial boundaries.
It is because of constant developments in the tech domain that the world is witnessing a perpetual revolution. Therefore, though a boon for all of us, it becomes an arduous task to keep up with the improvements that are taking place at an impressively fast speed!
The interesting and intimidating fact is – it is necessary to stay updated with such advancements; also, take one great technology, if not all, onboard! Rapidly growing businesses are so because they know how to adjust their operations for the better. Though an arduous task, they don’t shy away from trying new options. The innovative choices keep them floating for good!
On the other hand, the stagnant counterparts suffer because they fail to acknowledge the changing times and the dire need to keep pace with the change.
Thus, it becomes mandatory for entrepreneurs to keep learning, re-learning, thinking, innovating and staying updated – to remain relevant and competent in a highly competitive domain. Business might seem like only about numbers, but it is also about innovation, creativity and the making right decisions at the right time!
Timing is key! So, here are a few of the most important technologies that can prove to be a game-changer for any business!!
Let’s learn about them!
Vital stats related to tech-advancement
Stats provide credibility to a claim. Let’s look at some of the important figures which will establish how beautifully technologies are working! According to the website, Statista:
– Spending on digital transformation worldwide in the year 2020 was 1.3 trillion US dollars. This grew 10.4 percent year on year despite the global recession caused by the pandemic!
– IT spending is expected to reach a whopping 4.4. trillion US dollars by 2023, which reached $3.9 trillion in the year 2020.
– Internet of Things, Advanced Analytics, AI, Cloud – are some of the most critical and most adopted technologies – especially regarding digital transformations of leading companies!
– Digitally transformed organisations are expected to contribute more than half of the global GDP by 2023!
Let’s talk about technologies that are potential winners!
Without beating around the bush further, let us look at some of the technologies that are making our lives, businesses and experiences finer and better with time!
- Artificial Intelligence Businesses must consider AI for it fits perfectly because of its highly impressive capabilities. Artificial Intelligence can support broadly three important business requirements:
– engaging with employees and customers
– automating business processes
– gaining insights through data analytics.
This technology is known for its superiority and great offerings – navigation apps, smart personal assistants, image and speech recognition – to name a few. The list is never-ending – AI has the capacity to do everything – this is the least expected from a tech that’s bringing sci-fi fantasies to life, right!
AI can be used to analyse interactions, connections, changing patterns of customer experience – managing and analysing vast amounts of data isn’t a tricky job anymore, thanks to Artificial Intelligence! Data analysis takes place in near real-time; revenue generation gets better and the overall experience gets personalised. If this is not great, what is!!
Therefore, AI application app development must be considered by businesses to grow faster and better!
- Robotic Process Automation (RPA) RPA has more to do with automating processes rather than robots or robotics. Human intervention was required before the advent of computers. Though the present human race is far more technologically advanced than our predecessors, human intervention is still needed. Humans are and were required to take care of manufacturing processes, machines, etc.
Yes, almost all domains still use the human workforce, but with the emergence of computers, their proportion in the workforce has decreased.
RPA involves the automation of processes to decrease human intervention and increase efficiency. This job requires strong coding knowledge, for professionals to write codes for computerised or non-computerised processes to be done automatically.
These tasks can be anything – automated email replies, approvals, data analysis, transactions, etc. So, RPA saves on time, enables faster decision-making and increases a company’s productivity. It can also reduce approval time for financial transactions online and is thus used in financial services.
- Blockchain This awe-inspiring technology isn’t only related to cryptocurrencies, but it offers security in many ways. Blockchain is where you can only add data and not take away from or make changes. Not being able to extract information or edit makes it quite safe and secure – the primary reason banks are focusing on integrating it seamlessly into their operations.
Apart from banks, a number of industries are using blockchain technology. This will hit two birds with one stone! HOW? Allow me to explain. Not only will blockchain increase the use of technology but it would also require skilled professionals to do so. Therefore, it will give an impetus to the tech industry and increase skilled employment too!
Blockchain includes packets of data that one entity cannot control entirely. This obviously increases the security and also eliminates the need to hire a third-party to validate or oversee transactions. This technology thus also helps in reducing operating costs. Thus, if you are seriously considering an option to upscale your business, consult a top-notch blockchain app development company in USA or any other country – make sure to do it ASAP!
- Edge Computing Cloud-based computing is being extensively used; more than ever in present times – due credit to the pandemic. Its usage is growing and an increasing number of businesses are switching to a cloud solution. Though it is a useful tech, it isn’t emerging anymore; edge computing is!
The quantity of data is growing exponentially with every passing minute. With that, shortcomings of cloud computing are also coming to the surface – edge computing is a solution to those problems! It offers to solve the latency caused by cloud computing and can be used to process sensitive data.
Since it holds immense potential, the global edge computing market is expected to reach 6.72 billion US dollars by 2022!
To wrap things up
Newer and better technologies are and will keep paving the way for a finer, more fulfilling future – full of opportunities! The technologies discussed above are a part of that clan that is steadily transforming the world for the better.
These solutions have offered convenience and ease to users. Moreover, they have made almost everyone dependent – everyone wishes for things to be more accessible and operations efficient. The global economy is reviving post pandemic, because of such technologies, solutions, etc. Therefore, without a doubt, they have become an integral part of human lives!
Businesses can’t imagine running or expanding themselves without tech – that’s the power and potential such fantastic solutions have. So, what do you need to do? Incorporate the latest tech trends to expand and earn higher! HOW? By reaching out to us at Techugo – we are an innovation hub known for delivering the best with finesse.
So, wait no more and connect with us, as we are amongst the top app development companies in USA!
Ankit Singh is a seasoned entrepreneur, who has crafted a niche for himself at such a young age. He is a COO and Founder of Techugo. Apart from holding expertise in business operations, he has a keen interest in sharing knowledge about mobile app development through his writing skills. Apart from sailing his business to 4 different countries; India, USA, Canada & UAE, he has catered the app development services with his team to Fortune 200, Global 2000 companies, along with some of the most promising startups as well. Get hooked to his writings, and get a strong yet interesting dose of technology through his unique voice.