Some Awe-Inspiring Ways in Which Technology Is Changing Business

Purva Mishra | July 29, 2021 | 132 views

Technology has penetrated businesses through every nook and corner. It would not be wrong to say that businesses that do not implement technology will see a dead end sooner or later. Technology is drastically changing business. The direction in which it has revolutionized businesses is impeccable.

The impact of technology on business varies widely. For example, a local grocery store need not know about AI or its implementations. Instead, he needs essential technology tools like online payment, placing online orders, delivery tracking, and inventory list. Thus the technology needs vary from business to business.

There is digitalization in every aspect of the business. For example, if you have replaced calculators with excel sheets, that is digitalization. Thus be it big, medium, or large scale businesses, technology has impacted everyone.

Let us dive into the depths of how technology is changing business and evolving with it.

Ways in Which Technology Is Changing Business

Automation

Automation plays a significant role in managing businesses. From basic processing to workflow tasks, automation manages everything. This has reduced manual labor and increased error-free processes.

Automation software is implemented in almost every sector. It performs the tasks diligently and works round the clock. This software is a proven methodology to save time and money while improving the client experience. As a result, your business works seamlessly even in your absence. And you have an entire report at the tip of your fingertips.

Automation has increased productivity and helped humans to reduce unnecessary tasks. This, in turn, helps businesses to utilize their workforce in the right place.

Improved Communication Process

Communication processes between clients, employees, and departments have been seamless despite the world working remotely in the pandemic. The organizations that were reluctant to remote working have easily made the transition. And all this is made possible through internet communication.

The communication technology for video calls, voice calls, text, meetings, etc., keeps global communication ongoing. As a result, businesses can communicate with their employees or other businesses anywhere and anytime.

The integrated software for communication has made hybrid meetings possible. Despite being in different geographical locations, technology enables all teammates to be present in one board room during a meeting.

Hybrid Working

The pandemic is a catalyst in promoting hybrid working. If it had not been for the pandemic, the transition to remote working would have taken many more years. But this transition was smoothened by technology.

The innovations and implementations of technology have made hybrid working a success. Employers can give the option to the employees to work in the surroundings of their convenience. This has helped organizations to grow globally.

With the right technology and infrastructure, businesses have cut down costs in remote working. These resources are utilized in expanding the company and increasing ROI. In addition, technology has proved that hybrid working helps in making the business more agile and scalable.

Digital Transformation

Technology is changing business through digital transformations. As a result, this is used to expedite processes, increase productivity, and enrich user experience.

In 2019, US$1.3 trillion was spent by companies on digital transformation. And a significant percentage of these organizations were immensely successful.

Integrating digital technology in the crucial aspect of the business saves a lot of time, money, and workforce. The ROI is excellent. A business that embraces digital transformation proves that it is open to change and innovations. With the update in technology, the digitally transformed business will have to make minimum changes with time to stay ahead in the race.

Incredible Customer service

Technology has genuinely proved that ‘customer is the king.’ Most of the focus of innovation and technology is on customer experience. Customer experience is enhanced by targeting their behavior and providing them with the same service that they are looking for.

Technology is changing business by providing personalized customer service. The company may provide the same service to many people, but every individual will feel special.

Customers can approach the service center 24 hours and have various modes of contact. Incredible customer service ensures an increase in brand value.

AI

Artificial Intelligence has emerged with a bang. It has changed the business scenario forever. From drones managing traffic and deliveries to robots giving the best user experience, AI has transformed businesses for good.

AI uses predictive technology to study a buyer’s journey and then personalizes their experience. They study the user’s behavior through various algorithms to provide a personalized approach.

AI has introduced many opportunities and advantages for businesses to explore. Along with AI, VR, MR, and AR are there, which are combined to enhance a buyer’s journey.

Robotic technology is playing a significant role in the health industry, wherein error has no place. But, of course, it won’t replace human doctors but will eliminate human errors by scheduling tasks, providing information, and taking care of patients whenever required!

Cybersecurity

Security is challenged with the evolution in technology. Moreover, hackers are trying to come up with new ideas to break the security systems. Hence it is essential to have robust cybersecurity.

Cybersecurity demands have given rise to cybersecurity jobs. Every organization wants the best security to avoid breaches of data. Thus, Big Data, cloud technologies, and blockchain technology are the new names in good storage of data with ultimate security.

Mobile Friendly Business

More than 70% of users connect to businesses through mobile devices. Hence having a mobile-friendly business is the need of the hour. Moreover, cell phones have become an irreplaceable part of the human body. Thus, it will be best if you have your business functions be mobile-friendly to attract customers.

The paradigm shift of desktops to mobile technology was a game-changer for businesses. Customers browse on mobiles anytime and anywhere. This increases the scope of businesses beyond geographies and time zones. In addition, developing apps and target advertising has helped businesses to spend less time analyzing and more time enriching customer experience.

Benefits of Implementing Technology in Businesses

Technology is changing business by expanding room for improvisations and innovations. As a result, businesses can streamline processes, develop competitive advantage, and plan prospects effectively.

Here are some of the benefits of implementing the right technology in businesses.

  • Innovation and growth
The alignment of services in a business has made innovation and growth an easy thing. Business, technology, innovations go hand in hand. Technology is changing business and has made managing things an effortless task.

  • Less time
Incorporating the right tools ensures that maximum time is spent in innovation rather than doing laborious tasks. Technology is changing business by managing tasks in a zero error way to deliver maximum results.

  • Reduced human effort
Technology is changing business has provided valuable tools to reduce human effort. For example, employees can concentrate on the job that they are hired for, rather than updating or managing stuff. In addition, computing and technology ensure goal-oriented activities.

For example, when software manages the salaries and attendance, the HR department can concentrate on improvising the ways of the organization and building a better culture.

  • Best productivity at lower costs
Technology is changing business by delivering incredible ROI. The investment in technology is much less compared to the results it delivers.

Final Words

Reading about technology and implementing it in business are two different things. You know your business the best, so implement the technology that suits it. Do not integrate technologies just because they are trending.

Ensure that the technologies that you invest in guarantee the best returns.

Frequently Asked Questions

How does technological change affect business?

Technological change opens new doors of business opportunities. It brings in new ideas, services, products and eases out processes. As a result, it helps to reduce costs and increase productivity.

What are the negative effects of technology on business?

The biggest threat of advanced technology in business is security. The more data is exposed, the more vulnerable it gets. Also, the dependency on machines increases, and downtime disrupts major workflow processes. Glitches, power failures, virus attacks, bugs, etc., prove very expensive to the business.

What are the positive impacts of technology on business?

Technology has helped businesses to be customer-centric. The predictive technology makes it easy for a business to target an interested audience. This saves a lot of time and money. Also, technology increases productivity, makes regular processes error-free, assists employees in day-to-day activities, etc. Technology also helps businesses expand globally with minimum investments.

Spotlight

NEC Technologies India Pvt Ltd.

NEC Technologies India NEC is a leader in the integration of IT and network technologies and brings more than 100 years of expertise in technological innovation to provide solutions for empowering people, businesses and society. Headquartered in Japan, NEC started operations in India in the 1950s, accelerating its growth through the expansion of business to global markets. NEC in India expanded its business from telecommunications to public safety, logistics, transportation, retail, finance, unified communication and IT platforms, serving across governments, businesses as well as individuals.

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8 Epic App Innovations that Help Your Business Stand Out

Article | July 14, 2022

Increased use of the internet and smartphones demands better mobile applications be developed. Innovation is the key driving force that can make or break the market regarding mobile app development. A fantastic team of mobile app developers and smart innovation employing the latest technology produce a huge hit app. Let us learn more about how the mobile app development market grows. The Market for Mobile Application Development The mobile application development market is projected to grow at a 13.4% CAGR from 2023 to 2030, with a value of $187.58 billion recorded in 2021. This is due to the increased use of the internet and smartphone platforms, as well as artificial intelligence and machine learning. The app's algorithms learn and understand user interests to deliver refined results that generate better user engagement. As Ericsson and the Radicati Group forecasted, 6.64 billion people own a smartphone today, which is around 83.32% of the world population, and by 2025, 7.33 billion people will own a smartphone. As a result, there is a substantial rise in demand for better smartphone apps, for which creative and innovative mobile application development is the need of the hour. Innovation will give your business a competitive edge it's never had before. It will also open up new ways to grow your business. Discover the top innovations in mobile app development. Innovations in Mobile Application Development Some of the technological breakthroughs in mobile app development will greatly improve the user experience in the future. These focus mainly on the implementation of the latest technological innovations to realize functionality that has never been seen or done before. Let us now delve into their specifics. In-App Paid Features: Android and iOS Development While Android has a market share of 70%, iOS has grabbed a market share of around 28% in the mobile operating systems market as of 2022. In-app advertising and in-app purchases generate the major ROI from mobile applications on both mobile operating platforms. A great UI and UX go a long way toward boosting your app and business, and they also help you rank highly in the respective app markets, i.e., the Google Play Store and the App Store. Rolling out constant updates and adhering to the security standards of the marketplace keeps your business app ranking at the top. Augmented and virtual reality With the AR kit, you can design and make 3D mobile apps for your customers that use virtual reality. AR and VR are constantly changing the business of making mobile apps. You can use these trends to give mobile users really great experiences. A few of the sectors making successful use of these technologies include gaming, e-commerce, retail, interior design, real estate, tourism and travel, education, training, healthcare, manufacturing and construction, advertising and marketing, and entertainment. Your AR and VR mobile apps are more valuable if you can meet your expectations for maximum ROI with a minimum budget. You can do this by making constant improvements to your minimum viable product. Beacon Technology The beacon technology uses a smartphone's Bluetooth to identify any store, museum, or other business in the vicinity. As mobile devices get more powerful, IoT and edge sensors will be used more and more. Because of that, beacon technology will change the way we interact with the world. This technology sends notifications to your customer’s phone about your product when the customer passes by, sends content and descriptions about an ongoing event at your location to your customers, and more. Proximity marketing and indoor navigation notifications are the few ways retail is using this technology. With the help of beacon technology, your business can track assets, keep track of contacts, offer access to loyalty programs, gather advanced data, and send mobile tickets. Al and ML The versatility and power of innovations in Al and ML keep them relevant. For example, they let you turn pictures into animations that look real. These animations provide real-time analytics and other valuable insights. As an AI learns from its own experience, providing a better customer experience based on the data you feed it helps create intelligent chatbots. Personalized shopping assistance, fraud prevention, task automation, smart content, voice assistants, and autonomous vehicles are a few of the examples where you will see AI implemented. An AI trains itself through machine learning, or ML. ML forecasts future data trends using available historical data. This invaluable addition to your existing apps transforms the way they interact with customers. We are one step closer to a super-personalized experience. Wearables Wearables let you make calls, find your way to your destination, measure and analyze your vital signs in real time, and look at your own personal insights. So, app developers and businesspeople should focus on making apps that give people who use wearables a great digital experience. Getting better apps for wearable devices can greatly enhance their functionality and the user experience. From listening to your favorite music to tracking your fitness goals, taking notes, finding a parking spot, and adhering to your health and fitness regimen, a wearable device does it all. If developing your company’s wearable app delivers more value, this technology is not just a game changer but a lifesaver for many. Predictive analytics Predictive analytics is essential to e-commerce. When it comes to making mobile apps, predictive analysis can help improve both the process and the user experience. By putting together information from many developers, it can help predict problems and suggest solutions. Your predictive analytics will be better if you use artificial intelligence (AI), data mining, machine learning, modeling, and statistics. The data that your small and medium-scale businesses have gathered over a period of time becomes one of the most valuable sources of information that helps predict and forecast future market trends. Unexplained market rises and falls will now have an explanation, as will mobile apps that can precisely tell what, when, and where needs to be changed, replaced, or repaired. Using constants and variables that are already known, predictive analytics and data modeling can help make accurate predictions about the future. Blockchain Technology The world of blockchain has innumerable possibilities. Applications backed by blockchain technology benefit from end-to-end encryption. This means no one but you can retain data ownership rights. Blockchain technology is used for a lot of important communication and financial transactions because it is safe and private. Blockchain holds promise for better efficiency, productivity, and performance, as well as for elevating the user experience. Blockchain is more secure and reliable, offers better transparency in financial transactions, makes you go password-free using an SSL certificate (Secure Sockets Layer), promotes simplicity, protects your identity, safeguards access to your digital data and information, and helps transmit and receive accurate data with the help of balanced data transfer using several nodes at once. On-Demand Applications As lockdowns and quarantines went on for a long time, many delivery apps started to appear. There were apps for taxis, grocery stores, and even medicine delivery. The on-demand model is likely to grow as more service-based companies shift their focus towards on-demand apps. Technology is always changing, and every year, new versions of technology hit the market. That's why we need to keep up with the latest updates and use them to make applications that are both new and full of features. That's a must for a successful launch of a mobile app. Making the development process easy for the developers reduces the time it takes to develop applications using the software. There are options like rapid application development software, no code, and low-code application development software. These can include mobile app development, SaaS (software as a service), cloud apps, on-premise standalone apps, desktop apps, and web-based apps for many devices, including IoT devices. Using AI to power the application development process speeds up development, testing, and deployment, which helps a lot with scaling from small to medium to large and beyond. Some quick and effective mobile app development platforms include Quixey, Zoho Creator, AppyPie, AppSheet, Bizness Apps, Appery.io, iBuldApp, Shoutem, Rollbar, JIRA, AppInstitute, GoodBarber, Caspio, and more. Long-Term Benefits of Mobile App Development Innovations for Your Small Business: Creating a winning product doesn’t have to be a long process. Improvements on the product offered by competitors and finding competitor product shortcomings, along with using innovative technologies, help add value to your mobile app as a product. Mobile app development innovations help in many ways, such as: Improve your brand's relationship with your customers. Offer 24/7 access to your business, Get excellent customer insights, Efficiently market your product online, Save on additional marketing costs, Boost employee efficiency by increasing engagement. Improve communication, shreds down the busy work and Streamline the data. Generate a new revenue stream from ads targeted at in-app purchases. As a result, you meet customer expectations efficiently, allowing you to expand your business and attract potential customers. Your customers and potential customers are always looking for something new and exciting to experience and adopt. Sooner or later, they make habits of seeing something, and then they start thinking of that mobile app as a standard benchmark to look up to. Talking about the scalability of a mobile application, there is a lot of scope to improve using innovative technologies, and all minor to major updates take you from where you are to where you want to be. Finding the right mix of technologies will help your business grow and expand. Tying everything together Business growth for small-scale businesses starts with new inputs and strategic technological investments in mobile app development. Although they sound promising, striking the right balance to implement innovative technologies relies heavily on rigorous predictive analysis. Tools and technologies help meet customer expectations at scale and grow the business beyond imagination with the power of innovation.

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Empowering Industry 4.0 with Artificial Intelligence

Article | August 8, 2022

The next step in industrial technology is about robotics, computers and equipment becoming connected to the Internet of Things (IoT) and enhanced by machine learning algorithms. Industry 4.0 has the potential to be a powerful driver of economic growth, predicted to add between $500 billion- $1.5 trillion in value to the global economy between 2018 and 2022, according to a report by Capgemini.

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How Artificial Intelligence Is Transforming Businesses

Article | July 20, 2022

Whilst there are many people that associate AI with sci-fi novels and films, its reputation as an antagonist to fictional dystopic worlds is now becoming a thing of the past, as the technology becomes more and more integrated into our everyday lives. AI technologies have become increasingly more present in our daily lives, not just with Alexa’s in the home, but also throughout businesses everywhere, disrupting a variety of different industries with often tremendous results. The technology has helped to streamline even the most mundane of tasks whilst having a breath-taking impact on a company’s efficiency and productivity

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The advances of AI in healthcare

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With the Government investing £250 million into the project, the Lab will consider how to use AI for the benefit of patients – whether this be the deployment of existing AI methods, the development of new technologies or the testing of their safety. Amongst other things, the initiative will aim to deliver earlier diagnoses of cancer. It is estimated that in excess of 50,000 extra patients could see their cancer being detected at an early stage, thus boosting survival rates. More specifically, a study has shown that AI is quicker in identifying brain tumour tissue than a pathologist.This would have a positive knock-on effect in other areas, such as enabling money to be saved (that otherwise would have been spent on further treatment) and reducing the workload of staff (at a time when there is a crisis in NHS workforce numbers).

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NEC Technologies India NEC is a leader in the integration of IT and network technologies and brings more than 100 years of expertise in technological innovation to provide solutions for empowering people, businesses and society. Headquartered in Japan, NEC started operations in India in the 1950s, accelerating its growth through the expansion of business to global markets. NEC in India expanded its business from telecommunications to public safety, logistics, transportation, retail, finance, unified communication and IT platforms, serving across governments, businesses as well as individuals.

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Ezoic Launches Flickify, an AI Text-to-Video Tool That Turns Articles, Blogs, and Scripts into Videos Within Minutes

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DXC Technology Expands Global Partnership with Dynatrace, Accelerating Business Transformation for Customers

DXC Technology | October 31, 2022

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EY announces alliance with Software AG to help organizations digitize and transform using business process management, IoT and integration platforms

EY | December 06, 2022

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Ezoic Launches Flickify, an AI Text-to-Video Tool That Turns Articles, Blogs, and Scripts into Videos Within Minutes

Ezoic | December 02, 2022

After a year of anticipation, Ezoic, the AI technology platform for digital publishers, launches its new AI text-to-video tool, Flickify, and makes it available to publishers worldwide. With Flickify, publishers can now access video content capabilities previously only afforded to those with the ability to either invest many hours of their own time on video production or outsource it. Flickify allows growing sites with existing content to immediately gain exposure to new streams of ad revenue and search engine traffic from places like Google Images, Google Video and Humix video sharing network. Flickify requires no video editing skills, video equipment or special training. The cloud-based platform uses AI technology to generate high-quality videos from written content. Publishers can simply sign into Ezoic.com, choose the Flickify tool on the dashboard and create up to five videos a month at no cost. Videos can be completely AI generated or customized by adding clips taken from the Flickify stock library of millions of images or by uploading your own images and video files. The tool even features AI narration and an eclectic offering of background music. “Publishers know they need videos to build audiences and increase site revenue, and our beta customers using Flickify have seen the exponential traffic and revenue growth with our tool. Flickify is the perfect complement to Humix, our massive video sharing network, which delivers an immediate audience via access to sites all over the world looking for video content.” -Ezoic CMO Tyler Bishop Publishers creating videos with Flickify can start getting views and earning revenue from their videos immediately by sharing them on Humix. This worldwide video sharing platform has no subscriber or view requirements and serves as an alternative to sites like YouTube, which requires at least 1,000 subscribers, 4,000 public watch hours/year, and an Adsense account. Stephen Hockman, founder of SEO Chatter says, “What I like most about Flickify is you can instantly start making money from videos you create by adding them to your website and running ads on them. Plus, you can boost revenue by sharing your Flickify videos on Humix where they play on other publishers’ websites, allowing you to tap into other publishers’ audiences and increase video reach and ad revenue without having to acquire that traffic yourself.”

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GENERAL AI, SOFTWARE, FUTURE TECH

DXC Technology Expands Global Partnership with Dynatrace, Accelerating Business Transformation for Customers

DXC Technology | October 31, 2022

DXC Technology, a leading Fortune 500 global technology services company, announced an expanded partnership with Dynatrace in which the Dynatrace® Software Intelligence Platform will become the preferred DXC Platform X™ software for observability and artificial intelligence-powered automated management of a customer's IT estate. DXC Platform X is a data-driven, intelligent automation platform that proactively helps detect, prevent, and resolve issues to achieve resilient, self-healing IT. The platform continuously evolves to bring DXC customers best-in-class solutions that meet their rapidly changing technology needs and help them be future ready with capabilities to deliver their desired business outcomes. Dynatrace provides AI-powered observability, which enhances proactive and intelligent automation. The enhanced partnership will deliver more efficient operations and improved performance across today's dynamic and complex hybrid and multicloud environments. With hundreds of DXC colleagues trained and certified on Dynatrace, the company can provide the needed expertise and services to deliver breakthrough digital experiences for its customers. "DXC customers depend on us to be a safe pair of hands, running their mission critical systems reliably and silently. "The addition of Dynatrace, with its unified and intelligent view across software products and technologies, helps us strengthen our predictive AIOps capabilities and drive cost optimization. This is another proof point in the ongoing progression of Platform X, on the heels of forming our ServiceNow Strategic Business Group, which was announced earlier this year. DXC is committed to continuously innovating, augmenting DXC proprietary capabilities with market-leading solution providers." Chris Drumgoole, DXC's Executive Vice President and Chief Operating Officer Underscoring the significance of this partnership, Dynatrace recognized DXC as the 2022 Partner of the Year in North America and 2022 Service Provider of the year in APAC and EMEA. To cement our successful partnership, DXC and Dynatrace have agreed to launch a joint strategic go-to-market program globally to bring an enhanced, intelligent, cross-service-line solution to customers worldwide. This will entail joint development, co-marketing and co-selling, events, and customer engagement. "This expanded partnership with DXC reflects an aligned vision for our customers of what is critical to achieving digital transformation at scale," said Rick McConnell, CEO at Dynatrace. "The combination of DXC's deep experience running and transforming mission-critical hybrid and multicloud systems for thousands of clients worldwide with the Dynatrace platform shortens the time between cloud decisions and successful cloud deployments. This is enabled by reducing complexity, delivering precise answers from the immense amount of data coming from modern clouds, and freeing up time through continuous, intelligent automation." DXC has been providing Zurich, a leading provider of commercial property-casualty insurance solutions and services, with advanced monitoring-as-a-service, built around the Dynatrace Software Intelligence Platform, for over five years. "DXC's service proactively monitors our critical applications ensuring maximum reliability and resiliency," said Paul Ruskusky - Vice President, Head of IT Infrastructure & Operations for Zurich North America. "This has helped to achieve our goals of simplifying operations, freeing up time for innovation, and delivering improved customer experiences." Today's enterprise customers need agile partners who continuously evolve to support them on their transformation journey, ensuring maximum performance and business outcomes from their existing and new IT investments. Enhancing DXC Platform X with the Dynatrace platform's full-stack, intelligent observability takes our solution to the next level, delivering increased operational efficiencies, and accelerated growth to drive greater customer impact. About DXC Technology DXC Technology helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world's largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates.

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