Technology is like a whirlwind or some other violent change in the weather. Although new technologies can improve the lives of many people, they certainly do cause a lot of chaos from a business point of view. Many companies have risen and fallen according to the trends of technology. For instance, it is a fact that the music industry simply isn’t making as much money as it once did. This is mostly because of the increasing importance of the internet, and of course, the problem of rampant piracy.
Here are five changes in the world of technology that will likely affect the world of business within the coming year. This list will not include wild ideas or far-fetched startups. It will include technology that can realistically be expected to affect your business soon.
Virtual Reality
Virtual reality, also known as extended reality, has been around for some time, but it has taken some gigantic leaps in recent years. As such, it seems poised to fulfill its potential not just for entertainment purposes but for many others as well. For businesses, this technology will be important because it will allow for a higher level of interaction with a lot less travel. For instance, a training seminar could be conducted using VR. This would make it possible to train larger numbers of employees at one time, and to do so in a way that eliminates travel expenses. However, every business is built upon the idea of solving a problem. If your business solves a problem related to distance, you could have some rocky times ahead. For instance, travel providers might see a downturn in their profits. The same could happen with automobile dealerships and/or gas stations.
Data Security
Since the beginning of the internet and even before, hacking has been an issue. However, it has only become a major issue in the last decade or so. It makes sense to point out that, as our society becomes more computerized, it becomes more and more vulnerable to the attacks of various online predators. Data breaches of major websites can compromise the personal information of massive amounts of people in an age where the internet is used for nearly everything. For example, take the massive hack of Uber that occurred in 2016. In this case, 57 million people had their information exposed.
Any business that operates online (which is most of us) will need to be increasingly vigilant about data security if they hope to retain the confidence of their customers. Most people will avoid doing business with you if they are concerned about being “doxed” or robbed.
Effective AI
There are many good reasons to be concerned about the development of artificial intelligence. There are certain instances in which advanced AI creations have even said some disturbing things that bring up images of Terminator robots laying waste to the earth. Simply put, a lot of people are concerned that we could lose control of it.
In spite of such misgivings, AI is already in wide use to one extent or another. Humans have not yet managed to create true AI, but researchers at MIT came close when they designed a self-driving car that actually works. However, they also concede that the machine is not entirely predictable. Its’ AI is so complex that even its creators do not fully understand its workings.
If your business is involved with this technology, or even if it isn’t, you will likely be affected by the use of it in one way or another. AI is currently being utilized for various automated systems, and that can potentially affect anyone on earth.
Cloud Computing
This one is already affecting many processes of online business. There is no reason to assume that it will not continue to do so.
Voice Recognition
If your company has a mobile app, you do not want to be left behind on this technology. Once people get used to using their voices, this method of interfacing is likely to become more popular than the on-screen keypad. For mobile devices, voice command is more practical because the screen is so small. There is no doubt that this technology will make a big difference when it comes to search engine optimization.
Tags: business, changes, security, tech, virtual reality
