From advancements in artificial intelligence to GPT-3 and Hyperautomation, 2020 has been a great year for business technology, even with COVID-19 looming. As cutting-edge innovative technologies and modern practices reach the market, they lead the charge for business evolution.
With so many new applications and innovations in the mix, what technologies do you expect will have the biggest impact on businesses in 2020 and beyond?
The Role of Innovative Technologies in Business
Innovative technologies have a major impact on business operations and improvements. No matter how small, medium, or large your business is, business technology will bring many benefits that help you increase revenue, improve operations, and build customer relationships.
Different industries rely on technology because it improves communication, optimizes production, management, and data storage. Let us elaborate:
- Business Communication
Technology increases the efficiency of business communication all around the workplace. For example, millions of workers are efficiently working remotely and connecting with their managers using instant messaging, email, and customized channels. A decade ago, this wouldn’t have been possible. Innovative technologies in business communication have helped us stay connected round the clock.
- Improved Network Security
Innovative technologies help businesses keep important data safe and less exposed to threats, especially with modern backup solutions. During the pandemic, cybercrime has increased all over the world, which means that conventional network security won’t cut it, so you have to look for new solutions to prevent hacks and data loss.
- Efficiency Enhancement
Innovative technologies can optimize business operations as it plays a crucial role in different processes in the workflow. For example, artificial intelligence and mechatronics have improved the automobile industry in many ways.
The Need for Innovative Technology for Business Evolution
Are you still using the fifth-generation iPhone or Windows 2007 at your workplace? Are you familiar with software as a service and modern tools businesses use in 2020? Business technology is rapidly growing and changing every year, and businesses need to keep up. To ensure business survival and success, you need to have the proper technology at your workplace to save time and money and boost productivity.
So, without further ado, here is our list of 10 Innovative Technologies to Spark the Next Phase of Business Evolution:
1. Artificial Intelligence
It is not surprising that AI makes the top of the list as automation is the future of business operations. Artificial intelligence refers to programmable algorithms that automatically process and apply knowledge. It is one of the leading innovative technologies that impact various industry sectors, including manufacturing, IT, Retail, transportation, health care, finance, hospitality, etc.
China has already announced the development of 6G, as the world starts to adopt 5G. 5G offers great improvements over 4G, such as low latency, higher device density, and smart power consumption. More importantly, it makes augmented reality, smart cities, and connected products possible.
3. Internet of Things (IoT)
The Internet of Things (IoT) combines information from different connected devices for automated analytics, additional system insights, and performance in the enterprise. There are so many IoT devices businesses use to improve their business operations like security systems, lights, and even coffee makers.
4. Serverless Computing
Serverless computing is the future of network security and backup solutions. More popularly known as Function as a Service (FaaS), it allows businesses to build applications that scale in real-time, so they quickly respond to changing demands. It offers a consumption-based platform so that developers can deploy applications cost-effectively.
Biometrics has already optimized security by allowing users and devices to authenticate and move effortlessly through the world. Every year, it makes the list of innovative technologies due to smart upgrades, new gadgets, and policies as well.
Robots are a crucial element of business evolution with the simple purpose of performing basic tasks that are too dangerous, laborious, or time-consuming for humans. Robotics are now in every industry sector and have come a long way from industrial use only. Today, you can find them being used in marketing, telecommunications, inventory, entertainment, etc.
7. Augmented Reality
Augmented reality and virtual reality transform how people use machines and data. AI, mixed reality, and sensor technologies are now common in modern workplaces to enhance flexibility, efficiency, and productivity.
Blockchain is the future of online transactions, and many countries have embraced this innovative technology. The technology simply allows users to manage online transactions with advanced security protocols. No business is safe from hacks and cyber threats, so innovative technologies like Blockchain will come in handy for them.
9. Quantum Computing
Quantum computing will improve a business’s ability to process and analyze Big Data. It is and has always been the key to leverage machine learning and the power of artificial intelligence. The industry is already worth $5 billion in 2020 as it grows popular in several areas, including cryptography, aviation, forecasting, medical research, and data analytics.
10. Generative Pre-Trained Transformer 3 (GPT-3)
GPT-3 is a language prediction model that uses deep learning to produce human-like text. It can create anything with a language structure – which means it can answer questions, write essays, summarize long texts, translate languages, take memos, and even create computer code. Imagine what this could for businesses that deploy this innovative technology.
The most common possible uses include chat, translation, coding, and summarization. For example, you add it to the Chatbot on your business website to communicate with customers like a person.
The technological infrastructure of your business affects the culture, efficiency, and relationships of your workplace. This is why you need to keep up with innovative technologies, so your business is ready for the next phase of business evolution.
by Bobby J Davidson
We love our company and we love what we do. Check out the ‘Why Percento‘ page to learn more: Love of Technology and Business! As the President of Percento Technologies International, I provide day-to-day leadership to the company’s senior management and I am personally involved in the strategy, business development and sales activities of the firm.
The company was founded in 1999 with the purpose of providing a one call source for organizations in need of Enterprise IT Consulting and Management. We also provide a line of products in the boutique Cloud Server space with a touch of high-end website strategy consulting and design services. We personalizes the IT Service experience with a team approach, working with clients from diverse sectors of industry, including energy services, financial, legal, entertainment, healthcare, hospitality, retail and general and/or corporate business. percentotech.com/contact