Published on February 10th, 2018 | by Guest

The Latest Trends in Technology Shaping the World of Business in 2018

Business managers and entrepreneurs in this age of disruption will thrive or fall based on their ability to identify and respond to technological changes that are taking place at breakneck speed. Those business enterprises who develop a wait and see attitude towards an emerging technological trend are doomed to lose a lot in the cut-throat capitalist market of the 21st-century economy. Companies that take advantage of technological innovations such as Managed Detection and Response (MDR) are set to secure their information systems from hacks and develop an improved consumer brand experience which is critical in building a loyal clientele and widening on your market base.

The best attitude for an entrepreneur or a business leader to have is that it is never too late or early to begin. It never too early to have a technology that is new in the market incorporated into your business operations and it is also not too late to consider a trend that has been already incorporated by your competitors. Technology is one of the tested and proven aspects that will give both small companies and big corporations a competitive edge in the market economy. In this article, we are going to highlight the latest trends in technology that are set to take 2018 by storm.

Businesses have started to leverage artificial intelligence to improve the efficiency of their business operations and product marketing campaigns. The consumer is set to enjoy experiences that are extremely personalized anticipating the latest trends in customer needs and preferences in real time. This will be critical to maximizing the value of a business by attracting more and more clients which translates to wider profit margins and a remarkable return on investment. The business industry is set to gain numerous advantages by tapping on artificial intelligence in the fields of networking technology, custom-made itineraries for both employees and consumers. The use of chatbots that are supported by machine learning and artificial intelligence has also eliminated the need for customer care agents and sales representatives as they can give answers that the consumer may have about the product depending on the information that they have been fed with.

Facial recognition

Facial recognition has raised discussions in the tech industry in 2017. This technology has been incorporated into Apple to unlock iPhone X, financial system authentication, and airport security. It is becoming part of our day-to-day lives and not a preserve of the affluent citizenry. Although it is still on the very early stages of development, it is meant to take the business industry to the next level where employees and managers will use it to access the databases of the company and other sensitive information. Tech giants such as Google and Microsoft are investing billions of dollars to take this technology into the mainstream and make it affordable to a majority of the middle-class population.

Cloud technology

The cloud is a technology that enables business enterprises and government agencies to store their information in thousands of virtual servers. Businesses have today increased their information generation to millions of megabytes that can be stored in the cloud. This comes with the benefit that business managers, entrepreneurs, and employees can access company information from any geographical location that has internet access. Companies have also eliminated the need to purchase of conventional storage devices such as flash drives and hard drives which have a high initial investment and maintenance. Information in the cloud is not prone to damage from natural elements and catastrophes such as floods, earthquakes, and hurricanes.

Internet of Things (IoT)

Internet of things is any device that can be connected to a network. This included your smartphone, laptop, PC or even a wearable device that can store or send information online. IoT has given business premises a more smart business feel where all the activities within the company can be controlled from your mobile device. A manager can check the business inventory without having to physically go to the warehouse and give the consumer instant feedback on the availability of their product of choice.

These are only a few of the latest tech trends to look out for this year. There are so many technological innovations happening around us daily, so make sure you keep your eye out for other tech trends that can change the world of business as we know it.

Tags: 2018, business, latest, shaping, technology, trends, world