3 New Technologies That Will Change The Way You Do Business

As time passes, we’re seeing more and more emerging technologies designed to make business easier (and in some cases, more fun) - and it seems that as 2019 progresses, the existence of innovations that we once could barely comprehend are being brought to life. We looked into our Collaborative Marketing crystal ball to see what exciting new innovations await us in the realm of technology - and how they will inevitably change, and improve, the way we all do business.

The Internet of Things (IoT)

In a nutshell? The Internet of Things encompasses a place where devices are connected to communicate with each other. It can be anything; your smart phones, smart TVs, smart watches and smart homes. Basically, IoT represents an ability to transfer data over a network without any human to human or machine to human involvement - everything is operated with the help of an application where devices are allowed to share data with others.

With the potential to transform almost everything, IoT is set to have a huge impact on business. IoT has given organisations the opportunity to drive business efficiently and transfer valuable data over the internet. A study conducted by the Verizon predicts that by 2025, top organizations using IoT technologies in their products and operations will be up to 10% more profitable.

Not only will IoT change the method of business operations, but it will also change the way information is collected, managed and exchanged. Inventory tracking and management, data sharing, productivity, and remote work are just some of the areas of business that will be revolutionised by the IoT phenomenon.

AI Fueled Organisations

Word on the street is that Artificial Intelligence is trending. More and more companies are integrating AI into their corporate strategy - so much so that it is becoming an integral component to the strategy of many organisations. The phrase “artificial intelligence” may conjure up images of robot employees and holograms, however, the reality of AI’s role in the world of business is much more practical.

At its core, the integration of AI into  organizations aims to create a corporate world in which humans and machines work together, within digital systems which will achieve more accurate, data driven insights. In the next 18 - 24 months, it is predicted that the number of companies utilizing AI will increase as industry leaders identify more ways in which they can harness the technology. A Deloitte Survey from 2018 cemented this prediction, with Cognitive Technologies and Artificial Intelligence topping the list of emerging technologies that CIO’s plan to invest in.

The benefits of AI integration are clear - increased productivity, regulatory compliance strengthening, and larger, more insightful data. The biggest players in the AI trend? AI-as-a service-platforms, like Cloud Native, are said to be changing operating systems, while Open Algorithms will make head in the way we meet our specific business needs, and handle verticalized issues.

Voice Technology

We know what you’re thinking - Voice Technology has already had its heyday, right? But that’s far from the truth. In fact, it seems like the opportunities for Voice Technology are just getting started. With Amazon already having over 10,000 employees working on Alexa-enabled technology, we can expect to see explosive growth in voice commerce in 2019. In this example, it is likely that voice search will be integrated directly into Amazon.com, with consumers gaining the ability to search, select, and purchase with their voice.

The capabilities of voice assistants are still growing, but soon they will occupy the role of a digital employee. In the office, voice assistants could be used to complement the work of human employees by taking responsibility for repetitive, time-consuming tasks and allowing employees to focus their energy on high-priority projects. Another major advantage of voice assistants is their ability to manage, analyze and retrieve massive amounts of data - taking this responsibility off of human hands has the potential to make organizations more productive overall.

In 2018, Google announced an improvement on features to make the voice assisted devices more natural to use in a business context. For example, you’ll no longer need to say “Hey, Google” to initiate additional actions, and the assistant can recognize when users are addressing the device versus other people in the room. As well as this, the device can digest and respond to multiple and conflicting requests at once. Voice assistants are going to have a major impact on the way businesses interact with technology and collaborate internally, and businesses will be spoilt for choice in determining  how to deliver the benefits of it’s advancements across every device.

At Collaborative Marketing, we’re always up to date with what’s new in the world of media, marketing, and technology. We know that the marketing landscape can change as rapidly as new technologies emerge (and sometimes it can be hard to keep up). Get in touch with Shea at shea@collaborativemarketing.com.au and discover how we can use our expertise to help you and your business.