5 Disruptive Technology Trends and Their Impact on Business
As a tech-savvy generation, we embrace new technologies with enthusiasm and enjoy the convenience and other benefits. But before these technologies reach us as consumers, companies undergo an adoption process that can seem daunting. As a CEO, I am well aware that resistance to change can arise within a company. Misconceptions, perceived high costs, shifts in usual workflows and fear of the unknown are just a few of the reasons.
From my perspective, forward-thinking leaders need to understand the profound benefits of these technologies and maintain a bird’s-eye view of their impact. In addition, it is vital to hire the right people to lead and guide change management. Transformation leaders listen before they speak, collaborate with stakeholders to shape the future, build trust through honesty, and tackle difficult issues head-on. They see change as a new skill to develop, not a problem to solve.
With this in mind, let’s look at how adopting certain technologies can address common business challenges, drive long-term growth, and increase agility and efficiency.
Founder and CEO of Innovecs.
AI and machine learning: precision
Suppose a healthtech company is struggling to accurately diagnose diseases due to the sheer volume of patient data. By integrating AI, the company can analyze information more effectively and identify patterns and anomalies that the human eye might miss. Accurate diagnoses lead to customized treatment plans and overall better patient outcomes. Ultimately, the company benefits from higher service quality, higher patient satisfaction, and lower operational costs.
Similarly, Machine Learning can address specific problems in the same business, such as predicting patient visits to manage hospital resources. By implementing ML, the business can analyze historical admission data to predict future patient inflows, which allows for better allocation of resources and staff. This results in more efficient hospital operations, reduced patient wait times, and optimized use of medical resources.
Cloud & ‘As a Service’ Computing: Capacity
For example, a gaming company has issues with server scalability and maintenance during peak times. By using cloud gaming services, this company can dynamically scale its server capacity based on demand, ensuring smooth gameplay without lag or downtime.
Players stream games directly from the cloud, eliminating the need for high-end hardware. This gaming business benefits from lower IT infrastructure costs, an improved player experience and the ability to reach a wider audience.
Internet of Things: Supervision
Supply chain companies often struggle to track shipments and manage inventory without human error. By implementing IoT solutions, this company can integrate real-time visibility into its supply chain or operations. The technology has proven its effectiveness, especially in warehouse management. Smart sensors monitor the condition and location of goods during transportation and alert managers to potential issues such as temperature changes or delays. This real-time data enables quick adjustments, ensuring products arrive in optimal condition and on time. In the long run, this company wins through reduced losses, improved efficiency, and better customer satisfaction.
5G: Connectivity
Imagine a collab tech company where connectivity and real-time communication are a challenge, especially for remote teams. With 5G technology, this company can achieve faster and more reliable connections, enabling seamless video conferencing, instant file sharing, and real-time collaboration without delay. This advanced connectivity improves teamwork, making virtual meetings as effective as face-to-face meetings. Ultimately, this company sees improved communication, increased productivity, and more connected team members, wherever they are.
And honestly, connectivity is the backbone of any business or industry today.
Cybersecurity and digital trust
According to the McKinsey Tech Trends 2024 report, digital trust is essential for managing tech and data risks, driving innovation, and protecting assets. It’s all about ensuring the safety of customer data. Building trust in data and tech governance not only improves performance, it also strengthens customer relationships. This includes technologies such as digital identity, privacy-enhancing tools, blockchain, you name it.
As businesses embrace new technologies like the ones I mentioned above, the need for robust cybersecurity grows. Despite obstacles like integration challenges, organizational silos, and talent shortages, achieving digital trust requires strong leadership and strategic changes across the board. Implementing these changes can be challenging, but the rewards are immense.
Final thoughts
While it is entirely possible to handle all of these adoptions internally, I am certain that it is crucial to understand the nuances. Implementation requires a specialized team, but it is often more cost-effective to work with an external provider. A digital partner brings experts who know the specific industry inside and out, often with first-hand experience, including on-site visits. Additionally, an external partner offers flexibility and focuses on unique needs.
With a digital partner, you get certified experts, fast response times, and top quality at flexible prices. Expertise in cloud migration and infrastructure ensures smooth transitions and continuous access to critical systems and data. This approach not only keeps your systems up-to-date and compliant, but also uses specialized knowledge to move your business forward with confidence.
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This article was produced as part of TechRadarPro’s Expert Insights channel, where we showcase the best and brightest minds in the technology sector today. The views expressed here are those of the author and do not necessarily represent those of TechRadarPro or Future plc. If you’re interested in contributing, you can read more here:
