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Best New Technology for Business

Thursday, June 19, 2014   (0 Comments)
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Best New Technology for Business                                                                         February 20, 2014

There is a lot happening on the technology front. It seems that every day I hear about a new technology, application or service.What do these developments mean for business? Well, this is a bit subjective as it depends on your type of business. However, I think it is safe to say that many of the latest trends will impact some aspect of your market, your customers and your operations.

I selected 8 trends that I believe will revolutionize the business world over the next few years. Some have been around for a while, but lacked applications. Now, technologies like augmented reality and 3-D printing are generating lots of interest and creating new business opportunities.

      1. Augmented Reality (AR) - AR offers a way for mobile users to "see” a virtual overlay to the physical world. By combining mobile device features such as the camera, GPS, compass, accelerometer and broadband connectivity, businesses have a whole new way to engage with customers and provide a memorable experience. Check out Yelp Monocle to help you find restaurants just by pointing your smart phone down a street.

     2. Internet of Things (IoT) – IoT is where everyday objects are connected to the internet through sensors and radio tags (RFID). It will drive trillions in economic value to consumers and businesses through a smarter world technology. In Cincinnati, residential waste fell 17% and recycling volume increased by 49% with a "pay as you throw” program that used IoT technology to identify and monitor people who exceeded waste limits. Check out GlowCaps that use technology to remind you to take meds.

     3. Wearable Technology - Google Glass, Sony Wigs and even shoes that tweet provide new ways for people to interact with the world and businesses. Think of the new opportunities to reach your customers at their moment of truth.

     4. Holographic Telepresence – This is where a three-dimensional moving image of yourself can be projected onto wherever you need to be. Meetings, interviews and displaying prototypes just got a lot more convenient. See the Cisco Telepresence teleconferencing solution.

     5. 3D printing–3D printing will revolutionize manufacturing. Gartner predicts that by the end 2017, at least seven of the world’s top 10 multichannel retailers will use 3-D printing technologies to generate custom stock orders. From chocolate to artificial limbs, the opportunities are virtually endless. Check out Cubify Cube.

     6. Massive Open Online Courses (MOOCs) – Education is changing. Location and tuition is becoming less of a barrier. I just completed a content strategy MOOC from Kellogg School of Business. It was a free six week course and provided a wonderful learning experience. Training employees just got a lot cheaper and easier.

     7. Cloud-based services are creating a shift in how we obtain and maintain hardware, software and computer services. This shift helps businesses of all sizes reduce costs in IT, HR and sales management. Amazon Cloud Services (AWS) is a major player.8. Mobile-controlled Drones. Amazon announced plans to use drones that could deliver goods in less than an hour. The opportunities are huge and it has already been used to deliver pizza and beers to thirsty festival goers. However, I am not sure about security and air traffic issues. The future will undoubtedly continue to unveil more innovations at an increasing rate. Businesses will need to constantly evaluate those that offer the best opportunities to delight customers and stay competitive. Failing to keep up, could mean falling behind.

Janet W. Brey, Janet W. Brey Marketing Services