“What new technology does is create new opportunities to do a job that customers want done,” said Tim O’Reilly is the founder, CEO, and Chairman of O’Reilly Media, the company that has been providing the picks and shovels of learning to the Silicon Valley gold rush for the past thirty-five years. O’Reilly Media delivers online learning, publishes books, and runs conferences about cutting-edge technology, and has a history of convening conversations that reshape the computer industry.
Technologies provide innovative ways to the business to help them deliver better products and services to the customers. The competitive market is using technology to create new ways to do business. One of the best examples of tech development in business is Cameron Chell Draganfly CEO is a tech entrepreneur, author, and speaker with over 25 years of experience in technology, energy, and finance. Cameron currently serves as CEO of Business Instincts Group where he has helped launch several successful tech start-ups. Recently Cameron Chell Startup has been focusing his efforts on Block chain and Crypto currency, founding ICOx Innovations Inc, a consultant for Initial Coin Offerings (ICOs).
Here are five ways technology is changing business.
The way we communicate and share information:
Proper communication and information sharing are very important to run a successful business. In this modern period technology has become a necessary part of every business as it provides faster, easier and more efficient work processes to increase their growth. Regular communication with clients and customers is required to be updated on new market trends. Applications like Zoom, Slack, Microsoft team, chatbots, and social media are on of the most common application used by businesses to communicate and to share information with their colleagues, clients, or customers. Using an automated communication system can help the business to boost its marketing productivity and also help in reaching a larger area of customers.
Mobile-first business environment:
Smart devices like- mobile phones and tablets used with appropriate software can allow you to manage all your business aspects remotely.
This advanced software can manage everything like Sales enablement, content marketing, and also it can manage back-end processes for shipping and invoicing to improve customer relations with the company just in a single click. As the number of mobile users has increased in recent times, it becomes very easy for the customer to directly buy or sell, can provide feedback for their experience with a particular business. Also, it helps to stay in touch with your colleagues, managers, customers, or clients at anytime and anywhere with ease.
Enablement of remote working:
In the current COVID-19 situation all the businesses and the companies have been forced to promote a remote working environment to create a faster transition process. This is the job of the company or the organization to provide the right technology and infrastructure that can assist remote log-ins and also provide project management tools so that every member of the team can continue working on projects. All these things can help in increasing the company’s productivity.
Use of AI:
Modern technology is covering the entire market and every business is using these technologies to compete with other businesses. The use of AI has become a trend to mainstream the business and to create an automated environment system to maintain a competitive edge. AI uses a learning method that can understand the buyer’s behaviour and can predict their intent to purchase by understanding their search patterns.
The technology has helped many businesses to grow rapidly and also gave them an opportunity to reach a larger audience. Well, a report says that 60% of work time in a business is just about collaborating, gathering information, or responding to emails. With the increase of technology use in business, applications like Microsoft SharePoint, Google Drive, One Drive, and Monday.com are the best and most commonly used collaboration tools in the market. That can help in increasing the marketing productivity of a business.