Small- and medium-sized businesses (SMBs) often struggle to keep up on the latest technology trends due to logistical issues or budgetary constraints. The good news is that recent innovative trends are no longer out of reach anymore for these types of companies, allowing them to remain competitive on a path to growth and efficiency. Here are five technology trends can boost your business.
Mobile capabilities have come a long way since cellular inception. Long gone are the days of 1G, or even 3G. Speed is steadily getting better and, as 5G becomes standardized, its latency will be lowered down to about 1 millisecond. As a comparison point, 4G’s latency point is approximately 50 milliseconds. This reduction in lag times will be huge for businesses, especially since many tasks are now being conducted and processed over mobile devices. 5G will also play a significant role as IoT connectivity demands continue to increase for modern workplaces.
2. Artificial intelligence
Artificial intelligence, or AI, is a hot tech. In 2018, we saw many strides made and 2019 is going to see this technology moving forward with lightning speed in a variety of ways most never considered. Top trends you can expect to see in the AI realm for SMBs this year include:
- Automating manual tasks
- Voice Assistant enhancements
- Chatbots To improve customer service
- Personalized Customer experiences
AI can dramatically improve personalization options, marketing approaches, and quality of customer service. It's going to play a primary role in the way businesses compete going forward.
Information security is a process no business should let fall by the wayside. The consequences of data losses and/or breaches are simply too steep to ignore. According to statistics, in 2017 61 percent of cyber attacks were aimed at small businesses. The good news is SMBs are anticipated to fight back and take"security measures to heart," while putting more attention on comprehensive business continuity and disaster recovery plans.
Cybersecurity is a trend that isn't going away because cyber criminals will continuously try to stay one step ahead. In addition to technical and strategic solutions, SMBs must up their game by educating employees and purchasing cybersecurity insurance. This is another space where AI is beginning to play a huge role.
4. Digital Transformation
According to statistics, 48 percent of "SMBs" plan to transform" their companies but aren't quite sure what it means exactly. Other numbers suggest this figure is much higher, with about 83 percent of SMBs already on board.
In a nutshell, digital transformation isn't a specific trend but an overall philosophy towards embracing and integrating technical solutions where they make sense in the small and medium business space. Examples of this would be:
- Incorporating Internet of Things technologies in ways it cut costs and increases revenues
- Identifying Gaps, potential threats, and other problems where tech could offer a solution
- Automating Processes where it could decrease costs or increase productivity
- Using Tech to improve upon and expand services
Digital transformation shouldn't be rushed; it takes careful planning, patience, and, usually, a good partnership with an expert company or consultant.
5. Software Unification
Proprietary software not playing nice with other technologies didn't work for long in the early 2000s and it doesn't work now. As companies use a multitude of applications in the cloud to manage everyday tasks, it's going to become increasingly important that different software solutions work in conjunction with one another. It's not an easy task, but it's important enough that standardization becomes the norm for software providers to gravitate towards because SMBs are going to want easy ways to manage solutions. If not, they'll eventually be turning to SaaS providers that provide easy integration. Connected clouds will also be thrown in the mix.
If your business needs help with any of its technology needs, contact All Copy Products to learn more about the solutions we have available to help you to embrace the latest technology trends.