Technology is the key for advancing business objectives in today’s highly competitive marketplace. Because global technology trends are changing business, business leaders need to understand current technological innovations to help them thrive and prosper in the coming years.
With each coming year, entrepreneurs turn their thoughts toward a future of prosperity and possibilities. In 2018, executives renewed their focus on sales projections, marketing and emerging tax issues. Even with detailed research, however, it was impossible for them to forecast the outcome of future events. However, by staying informed about the latest trends in IoT and tech, business leaders can make clearly accurate guesses about the road ahead.
Today, there are several indicators that might foretell what lies ahead for business technology in the very near future. The following narratives highlight 4 global tech trends that are changing modern business.
Trend 1: Connectivity and Consumer Targeting
For company heads, answers are everywhere. With the growing body of data generated by consumer smartphones and Internet traffic, executives have access to a wealth of consumer data. Using this information, businesses can improve their strategic planning and reach the right consumers.
This wealth of consumer information enables business leaders to create highly targeted marketing initiatives. The abundance of digital information that is now available has made it easier than ever for business leaders to understand consumer behavior.
Today’s analytic services allow marketers to segment consumers into increasingly minute groups. In effect, advertisers are enjoying an increase in desired outcomes for each marketing dollar that they spend. Google accounts, for instance, provides data analysts with information about where Internet users live, the browser they use, the sites that they’ve visited and their activity while visiting websites.
Trend 2: AI and Advanced Computer Systems
An offshoot from the discipline of artificial intelligence (AI), cognitive computing, is emerging as a radically transformative technology that can “think” astonishingly faster than humans. IBM data experts, however, warn that it’s important to find a purpose before deploying cognitive AI systems. Furthermore, caution the experts, it’s important to recognize that, ultimately, artificial intelligence systems must always remain in human control. In other words, it’s vital that enterprise leaders understand that AI isn’t a magic crystal ball-like resource that business leaders can set loose on data and expect it to return with groundbreaking insights.
Additionally, suggest IBM data specialists, transparency is essential when working with artificial intelligence systems. Executives must trust the resulting reports. Accordingly, information technology (IT) experts must be able to deliver clear responses as to how the data was used, what information was analyzed and how that information was kept secure. Furthermore, AI systems cannot do their job without human intervention, making it essential that IT staff members have the training to work with the technology in a secure and efficient manner.
Trend 3: Investing and Going Abroad Is Easier Than Ever
The latest hot tech market is not in the United States. Today, technology career hopefuls can travel overseas to study and explore while developing their business skills.
One nation in particular, France, is positioned to emerge as the next global technology leader. For nearly the last half-decade, the nation has witnessed the growth of both its economy and acceptance of non-native international ventures. As a result, the country is undergoing a radical transformation that encourages innovative business concepts and strategies making France a great place to study abroad for future business leaders.
Firstly, French legislators have created a business-friendly employment environment by reducing labor costs and revising legislation regarding the hiring and firing of workers. Furthermore, the country has made it easier for non-native technology professionals to live there.
In France, there’s a significant number of affordable technology engineers. At the same time, more than 40-percent of France’s Ph.D. students are nationals from other countries and more speculators are pouring funds into ventures of French origin. In addition, a recent survey revealed that nearly 75-percent of students at a top French technical university want to land a job at a startup rather than an established firm.
Interested in learning more about France’s booming business market and study abroad opportunities? Then check out the resources below:
Trend 4: The Money Market Is Evolving
Globally, new monetary policies, systems and benefits are emerging. Blockchain technology, for instance, allows for the fast and safe transfer of money. Moreover, the technology is borderless; cryptocurrency holders can easily execute international transactions and invest in foreign economies. Overall, the technology has made it more cost-effective and simpler to conduct business.
As an example of the power of cryptocurrency, Bitcoin made a permanent mark in the mind of the public with its astronomical rise to $20,089 per coin in late 2017. While this sparked dreams of instant wealth in the minds of some speculators, other forward-thinkers were more interested in the coin’s underlying technology. Today, savvy business leaders are leveraging blockchain-backed technologies to excel in the competitive marketplace, and as further testament to the potential of digital coins, some C-suite credit card company execs fear that cryptocurrency could pose a serious threat to the integrity and sustainability of their industry in the near future.
The story of emerging technological advancements could rival the plot of a suspenseful blockbuster movie. In line with economic theories, as artificial intelligence technology matures, the innovation is dropping in cost to the point that small to medium-sized businesses will soon be able to leverage the innovation.
In the interim, more enterprises will leverage the underlying technology of cryptocurrency for use in other business cases. The road ahead for technology in business is fraught with challenges and opportunities, but nevertheless is sure to be an exciting reveal for the world’s executives.