We are in a very interesting part of history. Technology is becoming more and more prevalent in and for every part of our lives. For the modern business, emerging technologies can mean big profits if they are implemented and utilized properly. Today, we’re going to take a look at a couple of the emerging technologies that businesses are using to enhance the long-term outlook of their endeavor.
By now most people have heard of blockchain. It is an encrypted digital ledger system most often associated with Bitcoin (and other cryptocurrencies). Since new blocks represent a single transaction, added to a chain of transactions and information that is encrypted, development of security tools in financial technology and other sectors continue to grow in popularity.
Machine learning technology, a rudimentary form of artificial intelligence is powering many more pieces of software these days. It is growing fast in multiple sectors for the additional value businesses can get out of automating some tasks. The cost reduction combined with AI-enabled application effectiveness makes automation using AI extremely attractive to almost any business.
Of any technology, none potentially have the long-term applications that augmented and virtual reality have. The concept is simple, virtualize elements of reality for the benefit of people. It is a wonderful thought. Businesses have been slow to implement VR, or even AR, as both seem to be in a state of feature creep, which refers to the state a product will get into when a product demands constant attention causing consumers to lose interest altogether. The businesses that have implemented these technologies are finding that they are great for marketing and training purposes. It is only a matter of time before AR and VR are everywhere, but it just hasn’t happened yet. Rest assured, it’s coming.
What do you think about these new technology trends? Is your business using these technologies? Where do they fit in your plan? Sound off on these questions and more in the comments section below.
President and CEO, MERIT Solutions, providing innovative technology solutions that give peace of mind to CEOs.