The Fourth Industrial Revolution is being heralded by a number of important technological trends. To remain competitive, business leaders need to be aware of and adopt these trends. We review five of the most important technology trends for business.
The Fourth Industrial Revolution is driven by several key tech trends. This next transformational era of business will be characterized by the combination of cyber-physical systems. To remain competitive in the future, businesses must be aware of and utilize the latest technology. Here are five of the biggest business technology trends.
Big Data
The Fourth Industrial Revolution is fuelled by big data generated through digitization. It is crucial to other business technology trends, such as artificial intelligence, the Internet of Things, and autonomous robots. Machine learning algorithms are able to discover patterns and relationships more easily with the help of data. After data analysis, you can make better predictions and base your decisions on facts.
Data is not new. However, the unprecedented digitization and digital footprints left by nearly everything have led to an explosion in data. The amount of data is increasing so rapidly that 90% was created in the last two years.
Businesses can now use the extraordinary data access they have to make better business decisions, understand their customers and trends better, provide more intelligent products and services, improve internal operations, and generate additional revenue. Those who ignore data or do not access it will lose their competitive edge or relevance.
Computer Power Increased
The increase in computing power allows businesses to store and utilize data. There are many computing technologies that have improved the storage of data and accelerated its analysis. Cloud services are offered by companies like Amazon, Google, le and Microsoft that house all of the computing tools needed by businesses in the cloud. Edge computing is the other extreme. It performs some or aof ll the processing where the data was collected.
The fifth-generation cellular technology, or 5G, is another technology trend that drives the success of businesses. This is what will make our world smarter and more connected. Quantum computers will increase computing power exponentially. This will open up new applications previously impossible, and expand what technology can offer us.
Artificial Intelligence (AI).
The machines can do so many things for us already: read, write, hear, see, speak, and even be creative. AI will transform businesses and industries. The 73% of senior executives who see AI, machine-learning, and automation as areas where they should maintain or increase their investment recognize this reality.
Businesses cannot afford to ignore this trend. AI is used by companies to create smarter products and services, as well as to make business processes intelligent.
Intelligence of Things
Watches, clothes, and other everyday items are becoming more intelligent. Initially, the Internet of Things was referred to as these objects were connected to the Internet. Now, artificial intelligence has been added, and they are intelligent. The wide variety of objects is responsible for a large part of the data explosion we’re experiencing.
The intelligence of things is a technology trend that offers many benefits for business. Businesses should consider how to leverage the intelligence in things to their advantage. From creating and selling smarter products that provide unparalleled insights into the way the items are used, to generating income streams and optimizing operations.
Autonomous robots
Robots that are autonomous robots are the last tech trend I would like to mention in business. Robots have become commonplace in factories, but they are also finding their way into homes and working with us at the office. Robots are useful to humans because they take on dull, dirty, expensive, and dangerous jobs so that humans can do other things.
Autonomous vehicles will also transform business. Drones, unmanned aerial vehicles, and the military will all be transformed by drones. Robots do not have to be physical entities. Software robots automate processes in robotic process automation. This tech trend has many uses for businesses in all industries.
