Although it's impossible for anyone to predict every technological change that may occur, keeping up with current trends can help your company move forward.
Nobody expected that the pandemic would lead to a world where employees work from home, and businesses struggling to manage their work-from-home workforces.
One way to make sure you select the right technology products is to prepare for possible disasters. It can be worthwhile to invest in the best products for your company.
What will be the next big technological breakthrough?
Sometimes, a new invention can change everything. For example, the iPhone 5G connectivity or the iPhone 5. It's difficult to predict which of these inventions will be popular, but there are several significant ones that could have a direct impact on business.
Gartner researchers predict AI software will be worth $62 billion by 2022. This is an increase of 21.3 percent over the previous year. We believe that AI will continue to grow and be the most important advancement due to its many applications.
These are the best things to invest in now.
4 Business Technology Advancements That Support Growth
1. Smart Shopping Carts
You may have seen videos of Amazon Fresh using smart shopping carts in a limited number of pilot stores. The customer adds items, the cart calculates the amount they owe and charges the card. They are then free to go without checking out.
The carts are not only time-saving, but they also reduce theft and shorten check-out lines. Self-checkout technology is a smart investment for larger brick-and-mortar stores that are struggling to find enough employees.
Customers will enjoy a more pleasant and simplified shopping experience when the carts are connected to the Internet of Things (IoT).
2. Artificial Intelligence
AI is rapidly growing, as we have already mentioned. What does this mean for your business? AI streamlines digital processes.
DoorDash is a great example of this: ordering dinner. The system automates many of the tasks and shows drivers what they need to do for their jobs. This makes everything run smoothly.
To analyze your warehouse and determine how quickly you are getting packages out, AI could be used. It could be used to stay in touch with customers and automate email.
3. Virtual Reality
Recent polling of Americans revealed that 42 percent of Americans believe technology has made their lives easier over the past 50 years. Virtual reality (VR), while it may be considered something different and fun, you have many options for how to apply it in your business.
IKEA's use of AR to show how their furniture looks in your home is a great example of how retailers can embrace VR/AR to enhance the online shopping experience.
4. Robotic Automation
Manufacturers and retailers will benefit from automation's advances as they become more common. A factory might have a machine that checks for quality or sends out a report if there is too much vibration. Robots can even fix broken parts.
Automated fulfillment is a way for retailers to save time and reduce costs. You can assign repetitive tasks to robots, which will free up your employees to do more creative tasks to grow your business.
Invest in the Right Tech Stack for Business Growth
You may think you know everything about technology for business, but just when you think you have mastered it all, something unexpected happens that will change the way you run your company.
Reserve funds to fund the development of new technologies that you didn't know about. You will be a blessing to your business and your employees as they will appreciate you for giving them the tools they need to succeed at their jobs.