Over the last few decades, the world has witnessed a technological revolution that has completely transformed the world we once knew. This phenomenal transformation has affected every sector of every industry and has brought about major changes in the way businesses operate. Businesses that have proven to be successful during this revolution are those that have adapted to these changes at every step.
Today, countries with a highly ranked business landscape have embraced technology. This trend of unceasing technological innovation will continue over the coming years as well and change the business landscape dramatically.
In this article, we will discuss six of the technological changes that are expected to bring about a transformation in the way businesses operates in 2019.
Technology has made it possible for businesses to come up with cost-effective methods to grow and expand. Hence, the infrastructure requirements for startups continue to decrease as technology advances. With the help of Cloud Storage and affordable Artificial Intelligence and Virtual Reality solutions, more startups will be able to join the business landscape thereby giving rise to innovation.
Even though artificial Intelligence has found its way in almost every household, businesses are expected to continue making their processes simpler with the help of AI. Business will be using AI to predict outcomes by feeding massive amounts of data for a specific purpose. Apart from using AI in analytics, it will also find its way into marketing and continue its role in customer service thereby revolutionizing the business landscape.
By 2020, according to a study by Freelancers Union, the number of freelancers will increase to 50%. This makes it easier for businesses to attract better talent by giving them the flexibility they desire at the same time maximizing efficiency. Business will also be able to hire contractors that can carry out tasks in a shorter amount of time thereby reducing the overall costs incurred by the business. In 2019, more and more businesses will be seen welcoming the freelance movement and making their work environment more flexible.
While IoT has been the talk of the town for quite a long time now, it is expected to continue making a greater impact in the year 2019. The healthcare and manufacturing sectors will be able to make use of IoT to increase their efficiency. The telecommunication industry will become the fastest it has been by taking the 5G route. IoT may bring the next revolution in every industry by boosting different areas of business.
Adoption of Blockchain has been relatively slower because of the security concerns associated with its use. However, in 2018, many businesses implemented the use of blockchain. Moreover, this trend will grow in 2019 as well. Along with the financial industry, blockchain will witness massive adoption in the entertainment, hospitality, and healthcare sector as well.
In this globalized economy, businesses and consumers do not want to restrict themselves to their local area and need detailed information about product and service providers across the globe. Using virtual tour technology, businesses give their customers a chance to visit their premises from the comforts of their home. Moreover, businesses can use virtual technology to share the content on all social media platforms immediately, therein acting as your brand ambassador and creating organic growth every time its shared – at no cost to you. A Virtual Tour helps to distinguish you from your competitors and eventually promoting your brands and products forward, a Virtual Tour helps to bring your brand to your customers and immerse your customers in the story of your brand.
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With the evolution of technology, the business landscape of the world may witness a massive change as well. Do note that any of the changes you may see in 2019 are prevalent in the current year. However, the growth in the adoption is going to be the main highlight of the upcoming year.
