Business 2 days ago Last updated June 10th, 2021 175 Reads share

7 Innovative Technologies for Business in 2021

Image Credit: shutterstock

Today, in the minds of many entrepreneurs, the only way to truly get rich is to own a business. Data from the GEM Global report confirm this fact. The annual number of new startups is approximately 100 million, that is, several new enterprises per second at once. What keeps small businesses afloat when there are giant corporations? Innovative technologies are equalizers in the current situation and enable small businesses to compete with large enterprises. Properly implemented technologies make it possible to save resources and increase profits. Overall, it is a good option for streamlining processes, developing business agility, and improving customer service.

IoT

The list of technologies offered by the Internet of Things is quite extensive. It includes smart home appliances that can be controlled via a smartphone and lights connected to security cameras. As far as business is concerned, the use of the Internet of Things is expressed by the company in various sensors and cameras. All of these devices help to monitor efficiency and performance. In addition, the presence of the Internet of things in the workplace allows employees to achieve greater mobility and work productively wherever they are.

The Internet of Things also has a significant place in modern farming technologies. Due to IoT sensors, farmers receive data on the productivity of the equipment, the state of the crop, soils, the operation of irrigation systems, and much more. As a result, the Internet of Things significantly improves the decision-making process, making it possible to plan fieldwork and reduce all kinds of risks effectively. The use of the Internet of Things also dramatically facilitates the work of scouts since they can more accurately determine in which area to work.

Robotic Process Automation

RPA, along with artificial intelligence and machine learning, automates workplaces. This technology involves the use of software that helps automate business processes. It can be application interpretation, email automation, transaction processing, and data processing. RPA can automate up to 45% of repetitive tasks that people have to spend time on, losing productivity. It’s worth noticing that both average and big tasks can be automated. 

VR/AR

Virtual reality and augmented realities are popular entertainment and marketing technology that can also change business. Of course, the most popular product that exists thanks to this technology remains Pokémon Go, but this is not the limit of its capabilities. VR and AR can also be used in education, for example, for surgeons so that they can practice in operations. Visitors to museums and amusement parks can get more exciting and more unforgettable experiences due to these innovations.

AI Assistants

More and more businesses are using chatbots to improve their customer support function. The amount of resources spent on the introduction of AI is growing, and this technology is becoming a significant part of the system of small and medium enterprises. Chatbots are efficient at solving simple tasks, while more complex cases are handed over to specialists. AI assistants have been widely used in the past, but now they are equipped with voice recognition and mood analysis. For businesses, this is a great option to optimize customer communication.

Document Data Extraction

Extracting data from documents can save employees an enormous amount of time. Accurate information can be obtained from customer documents and records, orders, and other documents by automatically decrypting data in digital form. The combination of data mining with machine learning leads to continuous processing improvement, meaning the more you use the system, the better it works. In addition, you can store data in a place convenient for you. Employees no longer need to manually enter the necessary data from PDF to a computer since the system automatically analyzes the files.

DARQ

DARQ is something to keep in mind when hiring and training employees in 2021. This concept includes distributed ledger technology, AI, augmented reality, and quantum computing. These technological innovations must be prioritized for business adoption.

Large companies are using quantum computing to test and accelerate development. Distributed ledgers provide the ability to offer automatic payments, protect systems from hackers, and much more. Volkswagen is actively using these technologies today, including AR instructions to help repair cars.

5G Technology

5G technology is one of the most widely discussed and mysterious technologies that has undeniably become revolutionary. It will have a significant impact on the communications of the future, and of course, it will impact business in the next decade.

This technology has many goals. It means more than just better and faster Internet.The goals of this innovation include advanced mobile access, endless potential for the development of the Internet of Things, increased levels of support and flexibility. To provide ordinary mobile users with access to the benefits of this technology, mobile operators must increase bandwidth while lowering network costs. Current technology trends, including smart city systems, self-driving cars, augmented reality, and others, will continue to evolve to benefit 5G’s benefits.

Paul Wojciechowski

Paul Wojciechowski

Read Full Bio