Businesses have been influenced by a lot of things over the years, but never more so than technology. Technology has played a key role in how businesses have developed and evolved over time, and you could say that as technology improves, so do the businesses which put it to work. With tech continuing to improve at break neck speed, there are many new doors being opened in business as a result. We have all seen the meteoric rise of gaming, with even local companies like Intouch Games developing their own games and expanding into markets abroad.
So in the first instance, technology not only can create jobs at businesses, it also has the power to change how current roles are worked. For example, most people will have heard of Internet of Everything, often referred to as IoE. Well, it’s believed that IoE technology will positively impact both job creation and growth in many industries. This is because professionals with the right skill-sets will need to be hired to implement and operate the latest tech. This will all result in a positive impact on businesses where figures are concerned, with reports suggesting that the world’s largest economies could be boosted by up to $14 trillion come 2030.
As mentioned above, businesses will also perform differently, and so will the people working within them. CEOs, COOs and CIOs will all have to embrace the latest technology, from Internet of Everything right through to cloud computing. Incorporating the latest tech will allow the business to ultimately perform better and it will become more efficient as a result. Every area of business benefits from the latest technology, from an entry-level employee right through to the customer.
Using the banking sector as an example, this is an industry which has seen technology have an extremely positive impact. Customers can now conduct their banking activities via apps on their smartphone, allowing them to effectively bank on the go. They can also pay on the go thanks to services such as Apple Pay and Google Pay, with the ability to tap and pay for goods using smartphones becoming increasingly popular. Doors have been opened for the blind and deaf when using banking services too, with ATMs now having accessibility solutions.
Technology undoubtedly opens the door in many other business arenas too, with many now relying on or being operated from smartphones and tablets. While current internet speeds around the world in some places are impressive, 5G is set to roll out this year, and this will be a complete game-changer for businesses, as well as business owners and employees. The transferring of large amounts of data will be completed much faster as a result, with other areas such as cloud computing also benefitting.
As technology continues to revolutionise the world, it’s exciting to watch the impact it has on business. It certainly opens the door of opportunity for businesses and industries alike, allowing them to make positive changes going forward, which then go on to benefit both themselves and their customers in equal measures.