Are you afraid of new technology disrupting the way you do business? Don’t be. These three tech trends will completely change the way people do business by 2027—And for the better.
Technology changes, but what it takes to run a successful business never does. The most capable business owners are the ones who have the foresight to adopt new ideas and to adapt to different ways of doing things.
Kraft Technology Group helps our clients use advances in technology to build their companies and to help them reach their personal and business goals. We believe the best way to grow any business is keeping one eye future while working hard today.
We’re living during a time of rapid innovation when it’s close to impossible to catch your breath between each new extraordinary development. Although it’s true that tech trends come and go, we believe these three technologies are here to stay—And they just might change the way you do business five or ten years down the road.
Three Digital Trends That Will Influence Tomorrow’s Business World
Embrace it or fear it, AI is coming—And it’s going to alter everything. Already, AI programs have the capability to beat human players in games like Go and DOTA 2. While that may seem impressive, within the next ten years, the abilities of companies to harness the power of AI is going to be something to behold.
When you hear the term. “AI”, don’t imagine Andrew Martin, the android from “The Bicentennial Man”, or even HAL 9000 from “Space Odyssey. Instead, picture a powerful computer with the capability of self-monitoring and correction. This is the type of AI that will have the ability to increase productivity by completing tasks and helping humans to make better decisions. They will do this in part by analyzing the big data most corporations have been collecting for years—And, AI will do it better and more quickly than any human ever could.
Companies will come to depend on AI to make major (and minor) business decisions from the best way to market products, to making extremely accurate predictions regarding financial markets.
Augmented and Virtual Reality
Augmented and virtual reality is just now on the cusp of what these technologies will become in the future. Virtual reality (VR) is the technology that most are familiar with–However, augmented reality (AR) holds more promise for businesses.
As you probably already know, VR creates a fully simulated environment by using computers much in the same way as the holodeck from Star Trek. AR. It lets a user see the real, physical world but creates and superimposes images on top of it. A popular example of this technology is the Pokémon GO game.
Within ten years, companies will be able to take advantage of both technologies in a variety of ways. Virtual reality is a natural for immersive training scenarios, virtual meetings, and inspections, or for walking a client through a computer-generated model of a home. Augmented reality will let consumers “see” how they’ll look in an outfit, or if a new sofa will look good in their apartment before ordering it.
However, this technology offers more important capabilities. The real power of AR won’t be completely realized until technicians can use it to guide them through a critical repair, or doctors to perform delicate, life-saving surgeries.
The Internet of Things
The Internet of Things (IoT) will radically influence almost every aspect of the way large companies do business within the next ten years.
But what is the IoT? It’s a network of physical objects that constantly interact with one another, remotely. These connected objects can be anything from the cell phone you use to start your “smart” coffee maker, to Wifi-enabled chips to keep track of the precise, physical location of inventory items.
The IoT will also allow companies to make better and more timely decisions. This is because it can remotely monitor things. By using the IoT, companies will have access to a constant stream of up-to-date information. This is thanks to the use of connected sensors and cameras. Whether a business uses this information to decide when to fill up a vending machine or to know when it’s time to do preventive maintenance on an engine, depends on the type of company using it.
The IoT is a marketer’s dream. Using the IoT, businesses will be able to collect enormous amounts of data about the behaviors and preferences of customers from the ways they interact with their connected devices.
The future of business is here. If you want to remain competitive in your market, you should begin to investigate which future technology is best for your particular company. We can help. To learn more, contact the experts at Kraft Technology Group at: (615) 600-4411 or firstname.lastname@example.org
Brian Gray, MCP, is the President at Kraft Technology Group, LLC (KTG), an affiliate of KraftCPAs PLLC. Within his role, Brian is responsible for all aspects of service delivery to our clients. Brian has a decade of experience working for managed service providers. He has worked with clients in a variety of industries, including financial services, accounting, legal, healthcare, manufacturing, and retail.