- August 26, 2021
- Posted by: Vineet
- Category: Blog
During the times when efficiency and consistency matter the most, technology becomes the most critical facet of a business operation. Companies want to deliver services with consistent quality, spending as little as possible. It involves streamlining the processes through constant communication among team members and steps promoting automation. These factors are so important that the latest technologies are being built to boost mobility and automation for improving the output. Companies are, therefore, expected to have their technology dependency increased in the coming times. After all, technological advancements with robust tools contribute towards streamlining the processes.
Recent research indicated 48 percent of business owners give significance to running their businesses with a mobile device. Further, the study showed that an average business owner uses his mobile device, web service, or application at least 21 times a day to conduct various activities. Recent technological advancements have made it possible for leaders and CEOs to get their work done while on the go and receive updates throughout the day. The scope and applications of mobile devices and web services have only expanded throughout the past decade and will continue to do so in the coming times. So, we shall look at how businesses will react to their increased dependence on some of the current and near-future technology applications.
Flexibility to tackle Uncertainty
As technological change is inevitable, strategies will need to be flexible. Companies occasionally reviewing their technology will find it difficult to fare well in a fast-evolving world. Therefore, organizations will begin reviewing their technological blueprint at regular intervals and update their use of technology in sensitive operations, such as customer engagement, resourcing, and compliance.
A recent report by PricewaterhouseCoopers predicted the eight most disruptive technology trends that will transform the business operations regardless of the industry in the next 3-7 years. These innovations would be in the field of AI and robotics, augmented and virtual reality, 3D printing, Blockchain, drone technology, and the Internet of Things. CTOs and CMTs will remain proactive in updating the technologies and allocate separate budgets to spend on AI, IoT, VR, and AR.
Through “The Cloud”
Advancements in cloud-based services and hosting have made it possible to store and access a large amount of sensitive data from anywhere in the world. Gradually, companies will start using the “cloud” as an instant communication resource. For instance, with the Covid-19 pandemic, film and music producers have already begun to collaborate and work on a single project simultaneously via the cloud.
Increased Virtual Communication
With the Covid restrictions imposed on traveling and at the workplace, new virtual communication technologies have been developed. Businesses have already become dependent on virtual communication since the outbreak of the pandemic. These emerging virtual presence technologies will be more effective and make it convenient for executives, coaches, and technologists to give virtual presentations or train their employees from anywhere around the globe.
Businesses will try to cut their onsite maintenance cost if they can manage to have the majority of their employees working from home by saving expenses on their transportation and accommodation. Similarly, experts can be made available virtually almost immediately to solve production, logistics, or other operational issues.
Robust Training Programs for Employees
Technology changes continue to radically re-profile the jobs across industries. It is because every organization needs technically skilled employees. Recent studies indicate that there will be a shortage of skilled employees as innovation in technology will outpace the spread of knowledge on how to use it. Organizations dependent on the increased use of the latest technology will struggle to find the necessary skills to implement the new technology successfully. So, they will have to develop a robust training program for their managers and team leaders, who can then train employees working on the ground.
Labor Cost Savings
With increased dependency on automation and automated learning, companies will start hiring highly skilled programmers and coders to eventually have simple tasks executed through the use of computers or mobile devices. As computers learn to perform certain tasks and get better at every attempt, companies will eventually cut their costs in hiring labor. Low-skilled and low-wage jobs will be at risk from automation.
Use of Enhanced Security-enabled Technologies
Having increased technology dependency working on cloud and mobile devices also poses an increased risk of cybersecurity threats. One can enter into your device or cloud, steal your stored data, and use the information to one’s advantage while you are busy cracking a deal or working on building your product. Companies will invest more in leveling up their security by enabling high-speed quantum encryption and hardware authentication and using AI-enabled automated and adaptive networks that can detect and report deviations and anomalies in real-time.
Further, we will see a rise in Blockchain cybersecurity, leveraging distributed infrastructure for authenticating users and devices. The use of Blockchain coupled with AI might prove to be the future of cybersecurity. After all, organizations will have to safeguard the technology they use to carry out tasks.
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