Nowadays, technology is one of the main drivers for the development and growth of businesses. With the arrival of new technological innovations and trends, companies are gradually changing all of their business processes in order to take full advantage of the power of technology. Syntax IT Support outlines the 5 hottest business tech trends set to takeover 2017, to give you a head start and prepare you for what awaits you this year.
- Artificial intelligence and machine learning
Artificial intelligence is the ability of the computer to think and act based on prior knowledge whereas machine learning is composed of all the algorithms to make this possible. These innovative technologies can make the communication between businesses and customers a lot easier through automating it. While this trend is not fully developed yet, it is expected that it will soon be part of a lot of industries. For example, online retail transactions may be executed through the use of a chat bot that would match customers to the best outfit for them based on their previous purchases.
- Bring your own devices (BYOD)
‘Bring your own devices’ is another trend in the world of business technology that is quickly growing in popularity. It was predicted that by 2017, almost half of all the businesses around the world will support this trend, requiring all employees to provide their own device to work. There are some crucial benefits that this trend could bring to companies. For example, employees are often more comfortable using their own technology which can result in higher productivity. In addition, companies do not have to spend large amounts of money on hardware and device maintenance. However, on the other hand, allowing so much flexibility can result in more vulnerable data. For instance, a stolen personal device can give criminals an easy access to all the business information.
- Working remotely
Nowadays, with the advanced technology, employees have the possibility of working from anywhere in the world and still having access to all the company data they need. The use of cloud operating systems makes data storage and sharing so much easier. This way, whether employees are in the office or away, all they need in order to work efficiently is a laptop and a Wi-Fi connection. In addition, working remotely is often a way to save money on providing real estate and expanding the company’s talent pool to international regional boundaries. What’s more, this would also save employees the time and money spent on travelling and could help them be more concentrated on their work.
- Growth of e-commerce
The growing world of e-commerce means that if your company is not present online, the chances are that your customers would choose one of your competitors. According to a research, e-commerce sales are expected to go over $4 trillion by 2020. Most of all, the use of mobile phones to browse the Web is growing at an incredible speed which means that businesses would have to be able to integrate their offerings with mobile platforms to be able to compete in the market. Developing an app for your business would give you the opportunity of better connecting with your customers. Moreover, with the quick development of this trend, you could not go wrong investing in mobile e-commerce.
- Platform business models
Platform business models are those that are based on providing exchanges between businesses and consumers. An example could be Uber, which connects taxi drivers with people who need taxi services. The consumer demand for immediacy drives the existence of these business models as they make products and services more easily accessible. In addition, this business model can be very attractive due to the low capital cost required to set it up. Furthermore, due to the rising consumer demand, these businesses have an ability to grow and develop very fast.