Why Your Business Needs To Embrace Emerging Technologies
In a time of unprecedented growth, how do enterprises keep apace? Your business has its core digital efforts, but is it doing enough to embrace emerging technologies?
It’s a blessing and a curse living in a time of breakneck technological advance. If you act quickly, you can use advanced digital ecosystems to connect with customers, plan for the future, disrupt your markets and streamline your operations. If you opt for the conservative route, waiting for positive ROI signs to experiment with new technologies, you run the risk of losing customers to newer, sleeker, more consumer-friendly alternatives.
The choice is clear: embrace emerging technologies. If you’re a CIO, CTO or marketing executive for an enterprise, look toward technologies like machine learning (ML), artificial intelligence (AI), augmented reality (AR) and virtual reality (VR) to work for your business.
Here are a few reasons why your enterprise should embrace emerging technologies.
Look to the Future
Recent history has made it abundantly clear that early adopters and tech-minded business leaders tend to come out on top. According to recent research from Deloitte, companies that “advocate for, prioritize, and appreciate the value of technology” are at the leading edge of business growth, indicating elsewhere in the study that tech vanguards are ahead of their peers in market performance.
Not only can exciting new tech, like ML and AI, help you future-proof your business right now, but an ongoing dedication to technological transformation will ensure that you never fall behind.
Increase Customer Engagement and Satisfaction
New technologies like AR and Internet of Things (IoT) are reshaping the way businesses engage customers. Take the HoloLens showroom, for instance. Developed by InterKnowlogy, the software allows automobile businesses to turn their showroom floors into a mixed reality experience. Customers can put on a pair of HoloLens smart glasses, walk around a showroom and see 3D assets associated with each car. They can see the inner workings of the vehicle and how the safety systems work.
Another example, developed by the same company, is the Mandarin Hotel Group’s in-room integrated digital experience, which leveraged IoT technology. Before, guests had to call the front desk when they needed a taxi, wanted to order food or required assistance changing the thermostat. The integrated solution centralized all those processes – with a few taps, you could order food, call a taxi, and change the language on the TV, thermostat and in-room phone.
These are just a couple of ways that emerging technologies allow businesses to reach their customers in a more engaging and exciting way. There are countless other case studies out there.
Disrupt Your Industry
It’s a buzzword verging on over-usage, but “disruption” is still an essential principle in most markets. It’s often associated with start-ups and smaller organizations with the flexibility and lack of shareholder accountability to take a chance on new practices and technologies. But established enterprises can absolutely be disruptive as well.
For instance, ML can help you cheaply and speedily process, analyze and leverage data like pricing, search behaviors and customer preferences, giving you a disruptive leg up in your industry.
To push your business into the future, disrupt your industry and offer customers a more exciting and engaging experience, you need to embrace new technologies. The future is here – you might as well welcome it.