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Part 2 : Tech Trends Upending Traditional Industries

Part 2 : Tech Trends Upending Traditional Industries

by | Aug 27, 2021 | HCM, News

As discussed in part 1 the pace of technological change in the previous decades has been unprecedented and the wheels of the machine that is scientific discovery and invention still continue to turn. In part one we saw that all elements of daily life, intellectual pursuits, or economic activities are affected.

The way we make, ship, market, and utilize items is always changing—a chain of procedures that covers a wide range of sectors including;

1. Artificial Intelligence (AI)

Artificial intelligence is a technology where interconnected devices learn, predict, adapt and become intelligent systems that can do tasks that human beings can perform and even become more complex. and that can learn and adapt will become more complex. Artificial intelligence systems are rapidly becoming popular and will soon be everywhere, including homes, offices, factories, and medical facilities.

Some include Amazon Alexa, Apple Siri, Google’s Now. This technology through these companies is becoming the foundation of consumer operations at work and home while robotics and smart automation are replacing basic skills, including autonomous cars, around the world.

2. Business Application Ecosystem

In the past, many IT departments tried to simplify their environment by choosing a single vendor i.e. implementing Oracle for most of their application portfolio. As niche solutions explode across the company, this environment becomes increasingly difficult to pursue. IT needs to cooperate with multiple vendors and various technologies, and everything is more interconnected and interoperable than in the past.IT departments must mix and match software and hardware solutions, and master ecosystem integration and data management as their key IT responsibilities.

API‘s (application programming interfaces) are robust architectures that are essential to providing modular, flexible dynamic solutions. The power of disruption lies in the general technical support capabilities that a company can provide. For example, Airbnb and Uber have disrupted traditional industries in the hotel booking and taxi industry yet they do not own taxis or own property.

3. Cloud-Based & Scalable Applications with Infinite Infrastructure

IT assets were mostly on-premise in the past. Today, a business must manage a hybrid environment that includes on-premise and cloud-based assets that are managed by numerous vendors. As more firms actively move functions to the cloud, cloud computing is becoming more important. In the next two years, it is expected that a third of all ERP systems in the world will migrate to the cloud.

While some businesses use cloud platforms to save money or ensure continuity, the majority of the advantages are agility and the flexibility to scale an environment on demand.

Part 1 : Tech Trends Upending Traditional Industries

Part 1 : Tech Trends Upending Traditional Industries

by | Aug 13, 2021 | HCM, News

The pace of technological change in the previous several decades has been unprecedented, from the birth of the Internet to the arrival of big data and quantum computing. The wheels of the machine that is scientific discovery and invention continue to turn. Furthermore, the planet is undergoing some of the most significant transformations in its history. Moreover, no element of daily life, intellectual pursuits, or economic activities is unaffected.

The way we make, ship, market, and utilize items is always changing—a chain of procedures that covers a wide range of sectors including;

1. Digital Banking

With the rise of digital evolution, every industry has been impacted and thus redefined customer expectations. The digital disruption has seen businesses being transformed and making use of digital technologies. Rather than just putting up a mere website, leading companies use digitization from start to finish by doing product design, service, customer care, marketing, customer lifecycle, sales and online engagement.

Industry leaders not only use technology and processes to increase productivity and reduce costs, but they also use digital technology to develop new services, improve customer service, increase revenue, improve business models and products. Successful industries now have a comprehensive digital strategy to determine how to use digital technologies in all business aspects.

2. Internet of Things (IoT) Connecting Everything

According to the Harvard Business Review, IoT is a major transformative wave of innovation. The previous wave of change was mainframes and minicomputers, as well as the rise of the Internet. Internet-connected devices with embedded sensors that can provide actionable information will continue to grow at an exponential rate. These platforms will connect smart machines and smart everything in a collaborative ecosystem.

The Gartner Group refers to it as the “digital grid.” With the rapid growth of the installed base of IoT terminals, information technology (IT) must integrate IoT terminals, mobile devices, wearable devices, consumer equipment, transmission equipment, environmental equipment, etc. Information Technology integrated with IoT into business applications and analytics will provide meaningful insights into business processes and operations.

3. Mobile

Mobile devices remain a strong trend in the future and they are continually integrated into our daily work and personal life. Consumers want to be able to communicate and conduct business with companies through their smartphones, laptops and tablets and they’re wearable devices. The number of mobile devices so far exceeds the number of laptops and desktops that are currently used, and customers are more likely to access applications through smartphones or mobile devices than through PCs.

As mobile device sales increase, so has the variety and number of downloaded mobile applications. Businesses in all industries are using mobile devices to increase customer engagement, boost sales and build customer loyalty. This is done by the use of technology that supports a rapidly changing mobile workforce and customers. It is expected to see the mix of mobile devices, smart devices, and the Internet of Things across all industries and functions.