Every year, technology companies and investors ramp up for a new set of opportunities. 2017 is no different. We assessed some of the major technology opportunities and how companies can approach them.
This newer class of technology includes robotics, virtual and augmented reality (VR) (AR), 3-D printing, and artificial intelligence (AI). There are also so-called “cognitive technologies” like computer vision, machine learning, natural language processing, and speech and pattern recognition. All of these are being integrated with software to boost functionality. Of all exponentials, machine learning perhaps has the most immediate practical application for businesses and their customers.
A new investment technology, blockchain is the backbone of bitcoin. By acting as a distributed database of transactions , blockchain allows people to share a digital ledger without anyone having access to transaction records of other participants. Blockchain can not only benefit those in the financial services industry, but any organization that needs to manage a significant volume of transactional data.
The Digital Transformation
As everything in our lives goes more and more digital, we’re seeing a slew of new markets and opportunities: autonomous vehicles, electronic medicine and health, e-tail, and smart cities – all connected by intelligent networks, cognitive technologies and analytics. Ultimately, this leads to The Internet of Things, a concept that will soon become a daily reality for more of humanity. Companies that are adapting their offerings to the IoT are at a significant advantage.
The Accessible Cloud
While the cloud has gone mainstream, its more sophisticated aspects and functionality have been out of reach to smaller businesses. But usage-based consumption is on the horizon, which means small-to-medium sized organizations will be able to offer better service offerings and security to their customers. Consider how this flexible cloud can benefit your company and profit potential.
New technology means new growth strategies
Emerging technology has major revenue potential, but to be successful in the long run, enterprises will need to shift how they operate. Companies must properly piece together the complex combination of hardware, software, networking, data, and cognitive technologies.
Although this seems like a daunting task, the result is a happy accident. We may have never witnessed this level of collaboration across multiple industries, such as the partnerships between car companies and technology giants. Technology companies are also sharing knowledge and data with each other, all in an effort to mutually benefit their respective solutions or to grow specific fields.
Opportunities come with decisions
With an almost endless amount of technology opportunities, both entrepreneurs and established companies have to be careful what they peruse. Developing an in-demand offering is one thing, but assuring that it slots into a larger technology context is perhaps more crucial. Companies have to determine how fast they can alter the business model to meet fickle customer needs. This is perhaps the most important aspect of any technology development decision. That’s because technology will always change, but our need to serve the customer will always be the priority.