5 Must Read Technological Transformations of the Last Decade
The ongoing digital revolution continues to transform industries. Technological advancements are bringing impeccable solutions for every sector, boosting productivity and efficiency levels. Haven’t you heard of AI-enabled devices or machine learning? Artificial intelligence (AI) has become widely popular in the tech space. From businesses to logistics, everyone is integrating AI-enabled devices to streamline operations.
Likewise, virtual and augmented reality have become game-changer in the virtual sphere. Entrepreneurs are leveraging this technology to provide a real-time shopping experience to customers. Besides, for modern-day homeowners, technology is giving access to connected devices. People can invest in smart appliances, lights, door locks, and much more. Precisely, technological transformations offer unparalleled opportunities for every industry.
In turn, entrepreneurs have automated business practices to streamline operations whereas, educators have introduced online curriculums in colleges. Likewise, the healthcare industry is also utilizing electronic health records and mobile health to improve patient care. If you don’t know much about prevailing technological advancements, have a look below. Here are five must-read technological transformations of the last decade.
1. Digital Marketing
With rising dependency on technology, digital marketing has become inevitable for businesses. In fact, many people prefer shopping online rather than traveling to stores. Therefore, every company has been developing digital marketing strategies to make their brand thrive in the online world. In addition to social media profiles, search engine optimization has become a contemporary trend. Marketers optimize websites for over 200 ranking factors to improve visibility.
Usually, the optimization techniques include content, loading speed, and an excellent backlink strategy to generate more traffic. Besides this, marketers can run paid advertisements on digital forums to increase conversion rates. The analytical tools analyze customer’s data and purchasing behavior to show relevant advertisements. You can also use these insights to send personalized emails to customers and tailor campaigns in a way that aligns with audiences’ interests.
2. Financial Technology
Rapid digitalization is altering the finance industry in many ways. Technologies like cloud computing, blockchain, and robotics are revamping the core of banking and finance. It has automated the delivery and use of financial services to maximize speed and efficiency. Thus, customers no longer have to stand in queues to make bill payments. With mobile banking services, people can pay their bills by tapping on the screens.
Likewise, businesses can apply for loans and credit cards by filling out application forms online. In addition to avoiding the hassle of paperwork, it can speed up the loan approval process. Moreover, investors can indulge in investing activities through digital applications. After all, multiple apps let people buy and sell stocks online, eliminating the additional transaction costs.
The advancements in the finance industry can also reduce the likelihood of fraud. The AI-enabled servers and blockchain technologies closely monitor transactions and payments. Hence, the minute it shows an odd pattern, it alarms the financial institutes beforehand to mitigate risk.
3. Business Automation
As the years go by, the corporate world is leaning more towards technology. Experts believe that innovation breeds business. Since technology paves the way for it, both have become indispensable to each other. Here we are unfolding some ways tech advancements are automating business operations.
- Artificial Intelligence: AI-enabled servers can take over repetitive and mundane tasks, improving productivity levels. Many companies are already using AI-powered chatbots as their customer service representatives. The bots have human-like intelligence which means, they can respond to common customer queries within seconds.
- Task Management Tools: Surprisingly, technology is also transforming the workplace environment. The employees no longer have to report to managers in person. Instead, they can upload files and report on task management software. Likewise, the managers can keep a check-in balance on employees through this software.
- Comprehensive HR Tech: Previously, managers had to go through thousands of job applications to shortlist and recruit employees. All thanks to HR tech since it can handle all the recruitment activities for you. Managers have to create a benchmark, and automated tools will shortlist candidates who fulfill the given requirements. Sounds simple, no?
- Inventory Management Tools: Gone are the days when entrepreneurs had to hire people for manual inventory counts. The automated software tracks stock levels and inform line managers about potential shortages and surpluses.
4. Logistics & Supply Chain
In recent years, the logistics and supply chain industry have witnessed massive technological advancements. Innovations like artificial intelligence offer route planning and intelligent transportation. The drivers can use predictive models to understand the weather conditions and plan deliveries accordingly. Also, the GPS tracking devices show the nearest possible routes, helping companies cut back on travel expenses.
Besides this, cutting-edge supply chain visibility (SCV) technologies are allowing companies to use real-time data. This technology connects with IoT devices, allowing warehouses to track inventory, vehicles, and equipment through cloud services. Likewise, if you ship or import products in containers, the connected devices can also assist with container management through real-time monitoring. Lastly, the companies can use ‘digital twins’ technology to collect packaging and product data to inform customers about the delivery time.
5. Health Technology
Most people think the health industry has been a little slow to adopt technology, but it is not true. Technology has brought a substantial shift in the entire healthcare sector. Here are some of the most popular tech innovations in the health industry.
- Electronic Health Records: Previously, nurses were responsible for documenting and filing patient data. Now, hospitals use electronic health records that provide easy access to patient records. It also enables information sharing, allowing doctors to check medical history before starting the treatments.
- Wearable Technology: Health-monitoring devices like Fitbit helps patients take charge of their health. They can monitor their blood pressure, pulse, and oxygen levels. Additionally, patients can also share their reports with the doctor to keep them informed.
- Connected Inhalers: People suffering from respiratory problems like asthma use connected inhalers to monitor their symptoms. It tracks the medication usage while offering visual and audio alerts to remind patients to take the medicines. Additionally, the inhalers provide personalized guidance to improve inhaling techniques.
For sure, these technological transformations have revamped the entire healthcare industry, resulting in improved treatment procedures and patient outcomes.
Final Thoughts
The emerging tech trends bring promising results for every industrial sector. After all, the fundamental goal of technology is to make lives easier. The innovative tech trends provide a goldmine of resources and tools to serve audiences better. Likewise, it is encouraging the healthcare sector to change core concepts and practices to improve patient care. Believe it or not, these technological transformations can help everyone rise above the intense competition in their industry.
