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As a business owner, you must monitor industry trends and best practices to make you operations and processes efficient. At the same time, you also need to facilitate innovation-driven growth to keep your business profitable over a longer period of time. You can easily facilitate innovation-driven growth by adopting the latest technologies. But the disruptive technologies always make the established technologies obsolete and compel enterprises to revamp their business processes completely.

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4 technical trends that you should be aware

4 Technical Trends That You should be

Aware of as Business Owners

as a business owner you must monitor industry

As a business owner, you must monitor industry trends and best

practices to make you operations and processes efficient. At the

same time, you also need to facilitate innovation-driven growth

to keep your business profitable over a longer period of time.

You can easily facilitate innovation-driven growth by adopting

the latest technologies. But the disruptive technologies always

make the established technologies obsolete and compel

enterprises to revamp their business processes completely.

You will find it difficult to identify the disruptive technologies

and assess their impact on your business. But you can always

identify the disruptive technologies quickly by monitoring

emerging technological trends.

4 technical trends entrepreneurs must know

4 Technical Trends Entrepreneurs Must Know and Monitor

Industrial Internet of Things (IIoT)

Internet of Things (IoT) makes a wide variety of devices or machines communicate

consistently with each other through embedded sensors over the internet or the

cloud. Industrial Internet of Things (IIoT) augments the smart machine to machine

communication facilitated by IoT technologies. It combines IoT technologies with

machine-to-machine communication, big data technologies, sensor data processing,

and automation technologies to make various processes and operations efficient.

Your business can take advantage of IIoT to gather real-time data from various

sources, and use the real-time data to make your processes smarter.

mobility

Mobility

According to a number of studies, smartphone ownership and mobile internet

usage will grow rapidly in 2018. Hence, more and more people will use mobile apps

to accomplish common tasks and facilitate routine activities. Likewise, more users

will access websites and web applications on their mobile devices than computers.

The mobile apps will help new entrepreneurs to perform common business

activities like expense monitoring and accounting without deploying additional

manpower. The business owners should have a dedicated mobile strategy and plan

the mobile app development accordingly. Likewise, the business owners have to

focus extensively on the mobile experience delivered by their websites to keep the

visitors engaged and accomplish higher conversion rate. You can make your business

operations more efficient by integrating mobile devices and productive apps into

your existing system.

artificial intelligence

Artificial Intelligence

Artificial intelligence (AI) enables enterprises to make their business processes more

efficient by automating low-level tasks. An entrepreneur can further take advantage

of AI to make the employees more productive, and carry on business operations with

less manpower. He can further use AI for a wide variety of processes. For instance, an

enterprise can use AI to automate routine tasks like report generation and inventory

monitoring. At the same time, another enterprise can leverage AI to identify new

target markets and explore new sales opportunities. Hence, you can use AI to make

varying business processes efficient without deploying additional resources.

virtual reality and augmented reality

Virtual Reality and Augmented Reality

Many analysts believe that virtual reality (VR) and augmented reality (AR) technologies

will compel entrepreneurs to revamp their existing processes and operations. VR will

help businesses to create products that deliver immersive user experience through

real-life simulation. While using a VR-based product, users will feel like interacting with

the digital environment. On the other hand, AR enhances the existing real-life setting

of users by adding digital enhancements to the product. The businesses have to

combine AR and VR to keep users engaged and facilitate innovation-driven growth. You

have to use devices and applications developed with VR and AR technologies to make

your processes efficient and enhance customer experience in the longer run.