2017 was a monumental year for technological innovation and adoption, for both companies and consumers. While it’s impossible to predict the future with complete certainty, we can still spot emerging tech trends that businesses should really take note of.
Knowing more about the predicted technology trends of 2018 gives businesses owners an advantage over competitors and also allows them to continue to stay relevant to customers. There’s no doubt that as advancements are made, businesses that fail to catch on to the latest technology trends could be left behind and become irrelevant.
To help you keep ahead of the times, we’ve highlighted the tech trends that you have to know about going into to 2018. So, to learn more about our top picks, continue to read on. Alternatively, you can visit our Tech page if you’d like to read more of our tech-related articles and blogs.
AI is going to heavily influence product design
AI is already playing a big part in how businesses offer their customers the best possible service. Netflix, for example, utilises AI in order to better curate films and TV shows that match their customers’ preferences. However, Netflix also takes as advantage of AI in a far more innovative way. By using AI algorithms, each frame of video can be compressed to the most optimal level, which allows them to provide higher quality streaming at lower bandwidths.
Alexa is another example of innovative brilliance; Amazon’s device has seen widespread adoption by consumers and businesses alike. Consumers and businesses now have their very own dependable virtual assistant, thanks to Alexa. But, things are just getting started with this technology trend as Google Assistant and Apple Siri will no doubt look to increase their market share this year.
B2B sectors will embrace on-demand services
On-demand services have already been a big part of the B2C markets for a number of years, but have failed to make ground in B2B, until now. The on-demand model allows businesses to make use of different services as and when they require them. This can have a significantly positive impact when it comes to improving pricing and bettering services.
For example, some businesses may require legal help with compliance and legislative issues. So, an on-demand B2B legal firm could provide said company with the assistance they need as and when they need it. After the huge success of the B2C on-demand model, this is definitely a tech trend that’s worth keeping an eye on going into 2018.
E-commerce is set to continue its explosive growth
While e-commerce has been established for some time, there’s no doubt that sales online will continue to skyrocket in 2018. As retail stores are closing in order to opt into the e-commerce model, it’s more vital than ever before for businesses of all sizes to diversify their sales options.
However, it may look to some as if the e-commerce technology trend is closing down more stores than it’s helping to create online. In some way that’s correct, but there are still many retail stores that operate out of physical locations while having e-commerce act as an arm of their selling power. If you’re feeling the pinch of online competition, start to think about making 2018 the year you adopt an e-commerce model for your business.
VR and AR will bring people closer together
Both virtual reality and augmented reality is a bit of a solo experience as of present. But, there’s no doubt that this interesting concept is going to blow up in 2018. To be fair, the market is already gaining traction, but consumers and businesses want more than what’s currently on offer.
With that being said, in the main, it’s fair to that businesses won’t be directly utilising the power of AR and VR for professional purposes right now. But, there are all kinds of industry sectors that could benefit from both AR and VR in the future, including: hospitality, manufacturing, gaming, and many others.
Blockchain technology is the future
There’s been all kinds of news about blockchain technology recently, with Bitcoin being the most obvious example people will have heard of. However, not many people actually realise its worth in the world of business as it can greatly increase security when dealing with payments and valuable data.
Blockchain technology essentially acts as a uncompromisable log, which greatly increases security and makes falsification (currently) impossible. Different blockchains are being created in order to cater to different industries as well as consumers.
But, SMEs are probably going to have to wait a little while before they can reap the benefits of blockchain technology. Regardless of this, businesses should still keep abreast of the latest changes to blockchain technology and the legislative issues that surround it.
Have you got questions about the technology trends for 2018 or would you like to speak to a member of our team about something else? To learn more, get in touch with a member of our team now. Or, if you’d like to read more of our tech blogs, please visit the Tech page now.