Business technology trends, like the move to 5G, will equip other solutions through AI and IoT.

Two Business Technology Trends to Watch

It can be challenging to keep up with what is noteworthy in business technology trends. You may be trying to sort out which developments will make a difference in your work and which are simply fads that will fade in a short time. Here are two that will offer new levels of efficiency and potential for new growth:

5G and IoT: You may be thinking of 5G as just a small incremental improvement over 4G; they’re only one digit off, after all. But 5G offers exponential improvement over 4G, with response speeds that increase from 200 milliseconds to a single millisecond.

What does that mean for your business? It offers opportunities to improve a lot of areas, but one in particular is your internet of things (IoT) technology. Any kind of device that is fitted with a sensor or that sends data will benefit from 5G. Consider the impact in an area like healthcare, where up-to-the-second updates can influence how a patient receives care based on data from a heart monitor or a blood sugar reading.

A property management company might utilize the power of 5G for IoT devices that equip a building for automated thermostats, locks, and smoke detectors. The push toward digital technology also helps companies reduce their carbon footprint with wireless technology, a reduced need for data centers, plus the vast array of efficiencies introduced with IoT.

AI: Artificial intelligence (AI) is another of the business technology trends that companies may be surprised to see impacting their business, simply because it has become so integrated into daily life. AI software like home assistants and behavior-based recommendations on online retailers has become so commonplace that it’s easy to forget that it’s AI.

AI offers a homeowner the opportunity to simulate how furniture will fit in their dining room. It allows tablets to come with voice recognition, and your smartphone to only function when it sees your face in front of the screen. AI is also being used by businesses like yours to cut costs and improve productivity. Here are some specific industry examples:

Ecommerce: Online shopping gets a significant boost from AI technology in areas like chatbots, automated product recommendations, and inventory management.

Sales: While technology will never replace the personal skills of a sales rep, AI assists sales teams by offering better market trend predictions and improves customer relationships by offering reminders and suggesting which leads might be most likely to convert to a sale.

Marketing: Marketers use AI to identify and segment their audiences so that they can target potential customers with highly-personalized messages. AI can determine what types of online ads will be most effective based on data around a user’s online search and browsing behaviors.

Manufacturing: It’s no surprise that manufacturing was one of the first industries to capitalize on the possibilities connected with AI. Robotic process automation allows manufacturing companies to improve efficiencies at every stage of production.

Research and Development: When it comes to sorting and analyzing data, humans can only go so far. AI machines can be used in areas like finance and healthcare to spot critical trends.

Not all of the business technology trends you read about in the headlines will make a substantial contribution to your company, but 5G and IoT, as well as AI, are developments that you should use to improve efficiencies and cut costs. Contact us at Hudson Technology Partners for more information about how to incorporate them into your business processes.