The rise of artificial intelligence and chatbots in recent years has changed the business landscape. Yet these two pieces of technology are just two technological trends that are shaking up the world of business. Below is a list of some other notable trends that have or will soon drastically change the ways businesses operate.
Businesses continue to take advantage of different payment options. Two options that will grow in popularity are Google Pay and Apple Pay. At the moment paying with either option isn’t very popular with consumers, yet in time this will change. Every day the number of people who own mobile phones increases; mobile payment technology becomes more powerful, and soon paying with your phone will be as common—and even easier—than paying with a card. An increasing number of major businesses are expecting at least one type of mobile paying option, and this trend will only grow in popularity over the next couple of years.
In early May the WannaCry ransomware wrecked havoc on businesses across the world, and every other month there seems to be another data breach that affects customers’ credit cards and other sensitive information. Technology isn’t going away, and neither are security threats. Businesses are beginning to realize that security needs to be their number one concern. When a business loses customer data or falls prey to a ransomware attack, it loses money and tarnishes its reputation. As businesses rely even more on technology, a greater emphasis will be placed on security.
As the number of consumers who use their phone to browse the internet increases, businesses will seek to integrate communication into the mobile experience. This trend will go hand-in-hand with businesses creating dedicated apps for their services. More businesses will encourage customers to download their apps so that they can easily browse for products. Then customers will be able to communicate with business representatives via the app. With a simple click, they will be able to speak with a representative who can answer their questions. Most companies offer the ability to speak via both text and phone. All of this can be accomplished without leaving the app.
The use of live updates is becoming more popular with each passing year. For example, vehicles and airplanes have the ability to collect and send data that helps improve performance. Some businesses employ an inventory tracking system that automatically reports when an item’s supply is low. Devices that can communicate with each other and provide updates give businesses a number of opportunities to improve services and satisfy customers.