Published on January 3rd, 2021 | by Sumit Bhowal0
3 Ways to Enhance Your Business With the Latest Tech
Running a business entails many things, each with its own importance and role to play. However, it’s difficult to argue that technology is not one of the most, if not the most, important factor at play within a business. Technology inherently gives people advantages beyond their innate, natural skills, and that also means that the upper limits of society are dependent upon the available tech. Businesses are no different, and modern technology can help your small business grow like never before. Here’s what you need to know.
That’s right; for the uninitiated, artificial intelligence is finally a viable option for use by modern businesses. There are a few key reasons that AI still needs a lot of work, but advances in natural language processing and machine learning have done a lot to make AI business ready. For example, chatbots can be used to reduce the demand placed upon human customer and technical support by fielding basic questions that can be solved by a simple search of the index. You might be asking, “What is a chatbot?”, and it’s exactly what it sounds like. It’s an artificially intelligent program that seeks to mimic human speech patterns, and it can not only replicate speech, but also more or less understand it in order to provide the proper responses with a minimal margin for error.
Along the same lines, sentiment analysis is a potent marketing tool powered by AI and NLP. Essentially, sentiment analysis is the process of using an AI to scan countless social media posts in order to determine how your customers feel about your business and its services. This stands alongside traditional market research methods like conducting surveys as one of the best ways to get a bead on the market, information that will be pivotal in your future business plants.
The Internet of Things
The internet of things, also known as “IoT” is a design philosophy that has been instrumental in optimizing the efficiency of modern commerce. Essentially, IoT devices are those that have been augmented with internet connectivity in order to allow users to create a network of devices to form a smart home that can be controlled remotely. However, it’s businesses that are better able to capitalize on this kind of technology. For example, much of the functionality of a smart home, such as remote control light bulbs, still has a place within businesses. On top of that, IoT technology excels at interlinking various systems in order to encourage a more automated work experience and fewer necessary steps for each task.
For example, payroll apps can record the time that employees spend on the clock and then calculate their wages from there, leading to much less work overall for your payroll department. Likewise, IoT enabled devices can self diagnose and report directly to operators any potential errors they encounter in order to help you fix mechanical failures more quickly or to avoid them outright.
IoT isn’t the only design philosophy that allows users to create a more connected and efficient experience. Enter: cloud technology. Cloud storage has an immediately recognizable use and is already widely used by businesses and consumers alike. However, cloud computing in earnest has historically been of extremely situational use among consumers. Businesses, on the other hand, can take advantage of cloud networking in order to create a network that is greater than the sum of its parts.
Cloud computing enables computers to pool their computational resources in order to tackle the same large, resource intensive problem in tandem. This makes a private cloud akin to a supercomputer that can quickly and easily crunch the numbers for data analysis with enough RAM per machine left over to tackle the day to day operations of a business. This has quickly caught fire as the superior form not only of networking, but also of data analysis. With the growing availability and importance of data, cloud computing is simply a must.