What are technological trends in business?
According to a report publication ‘business today,’ the cloud computing industry is expected to grow at a CAGR of 17.5% from $371.4 billion in 2020 to $832.1 billion by 2025. Oxford University predicts that up to 35% of all jobs will be automated by 2035 and beyond. Business is a smart game! a recent study says only 8% of companies are able to integrate trending technologies successfully. the lack of decision making has to lose of profit. Or will they lose the stability of the business? How can avoid this case? Read this article(What are technological trends in business?). This 5 minutes read will change your mind, if you are already back in this game.
Let’s get clear on this matter
The technology trends in Business:-
- Artificial Intelligence(AI); Businesses also use artificial intelligence to reduce costs and automate processes. The following industries can expect to see increased AI support:
- Marketing: AI is used to collect data from online users or your target audience. AI can determine which online ads are most relevant for your target audience by capturing a user’s online behavior, including search and browsing history.
- eCommerce: AI has many advantages in the world of eCommerce and online shopping, including online chatbots, intelligent product recommendations, and sophisticated inventory management.
- Robotic Process Automation (RPA)
- Machine Learning(ML)
- Internet of Things(IoT)
1. What is the purpose of AI in business?
Artificial intelligence (AI) is a technology that can learn and improve without being explicitly programmable. The focus of AI develops computer programs that can analyze data and use it to learn for themselves.
Refer to our previous article and Edge Artificial Intelligence
2 What is the responsibility of RPA (Robotic Process Automation)?
RPA is a type of business process automation technology that derives from metaphorical software or artificial intelligence. and also this is a technology that allows anyone to create computer software or a robot that can imitate. therefore, It can blend the activities of a human interacting within digital systems. and then carry out business processes. These RPA Bots use user interfaces to collect data and navigate applications in the same way that humans do. They activate similarly to human employees. At the same time, they interact with user interfaces and automatically extract structured processes.
In other words, RPA (robotic process automation) is the use of software with Artificial Intelligence(AI) and Machine Learning(ML) capabilities to handle high-volume, repetitive tasks that were previously performing by humans. Among these tasks are;
- answering queries
- performing calculations
- maintaining records
- processing transactions.
Why RPA is so important for an industry?
This is an extremely dependable technology, How?
- cost-effective. RPA is also non-invasive, clinging to existing infrastructure without disrupting underlying systems.
- They perform tasks such as logging into applications,
- moving files and folders,
- copying and pasting data,
- filling out forms,
- extracting structured and semi-structured data from documents,
- scraping browsers, etc.
RPA implementation is quick and yields quick ROI(Return Of Investment); it reduces attempts in the back office and aids in improving customer service in the front office. Many industries save thousands of valuable hours of human labor each month with the help of RPA.
The top 8 RPA advantages ( quick summary): What are technological trends in business?
As a result of robotic process automation, organizations become more profitable, flexible, and responsive. It also increases employee satisfaction, engagement, and productivity by eliminating time-consuming tasks from their daily routines. RPA is non-intrusive and quickly implementable to accelerate digital transformation. It is also excellent for automating operations with legacy systems that lack APIs, virtual desktop infrastructures (VDIs), or database access.
- high level of business transformation
- Increased productivity due to high accuracy compliance
- Significant production cost savings
- Increased resilience
- 24*7 work
- No training cost
- Less supervision
- personnel value
Of course, RPA has a super opportunity in near future. and has already made significant contributions to technology and business.
3 Machine Learning(ML);
What is the purpose of Machine Learning? answer for the “What are technological trends in business?”
How does machine learning work?
Machine learning algorithms typically require two things. in order to function: training data and a function objective. Training data consists of an input vector along with a sequence. and its correct output value, as determined by some objective function. similarly, This input contains both constant values and values generated at random by the machine for testing purposes. The machine then uses the training data to try to find an input-output mapping that will produce the correct output every time.
let’s see more…
above all, this is a little bit hard to understand, let’s try to clarify more. Think about the binary classifier. As you know already it consists of outputs of only 0 or 1. It takes data as input and attempts to predict which category it belongs to by analyzing patterns in the data. As an example, if we have images of girls and boys labeled as “girl” and “boy,” our learning algorithm will train on this information. And is to properly differentiate between them. The logic behind this process can state as follows: for all available images, predict whether it is of a girl or a boy. The question here is how these photos of girls and boys were obtained in the first place.
Humans label them at random so that the machine can learn what they are. this is why
5 Internet of Things(IoT);
What is the critical concept in business technology?
Is there any business without advertisements? not exists. therefore, in this modern world, there is an excellent solution for that. A strong social media presence is one of the most important innovations that businesses can implement. Social media platforms like;
are excellent places for businesses to interact with their customers. And promote their brands. Furthermore, businesses should be on LinkedIn for networking purposes. Adopting new technologies such as artificial intelligence. voice-activated assistants such as Alexa or Siri are also beneficial innovations. of course, there are business suits for each individual platform. example; Responsible for the content manager. So Keep a strong content strategy.