The future of Tech in Business
10 years ago, the focus was on the popularity of smart phones, mobile apps, cloud and the internet for everything. Fast forward ten year the future is increasingly shaping towards advanced networking, serverless computing and intelligent interfaces that will reshape the business process, this tech revolution is evolving from being emerging tech to become necessary tech.
For years the primary focus around the industry has been towards delivering innovations around software, applications and virtual solution. The recent roll out of 5G technology and other next generation wireless technology may lead to a new hardware refresh cycle from software and apps to infrastructure to support these technologies. Investment in upgrading the current infrastructure will enable support for future advancements in networking such as faster, smarter and increasingly autonomous networks.
2. AI power
Artificial Intelligence (AI) has recently taken centre stage and has started becoming mainstream in some businesses’ core activities and started replacing some objective functions across multiple industries using narrow data trained AI model. The future development in the sector will no doubt be in form of complex machine learning and more autonomous decision making. In the AI game, big things are bound to happen. Some of those developments are well on their way to being fully realized, some are merely theoretical and might remain so. All are disruptive, for better and potentially worse, and there’s no downturn in sight. On a grander scale, AI is poised to have a major effect on sustainability, climate change and environmental issues.
Today the interaction between man and machine is ever more through intelligent interfaces such as touch screen, gesture, voice command and virtual reality. The transformation on how humans interact with machines and data, have led to a much more human-centred focus in tech a trend that will only expand in the future. The evolution of how a business interacts with its customer or vice-versa will continue in the future and has already started proving a powerful marketing tool, the combination of advanced networking, AI and Intelligent interfaces will no definitely provide a powerful tool for businesses in various industries, this also opens up a market for new and up-coming technology companies looking to create and maintain these services for businesses and its customers.
The importance of the tech revolution has been further highlighted in the current corona virus disruptions, tech has enabled staff or entire offices to be run remotely with minimal disruption, although it very much depends on the industry, for example, an accountant’s office could largely be run remotely at least temporarily, on the other hand it would be impossible for a Chiropractor to run his practice remotely and the disruptions could be a potential disaster for the business.
Any disasters natural or man made can potentially have a disastrous effect on a business that has not implement a financial contingency plan in its business planning model. All in all a healthy financially stable business is more likely to be better prepared in situations such as the current Corona virus epidemic.
Funding Nav is currently developing emergency funding lines for business impacted for the current health scare so please contact me for further information at