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It’s Time To Enhance Business Growth With Technological Changes
Technological business changes are a given in today’s world. From construction yards to FinTech, advancements are required for health and safety, meeting customer expectations, and staying relevant. New technologies also open up opportunities for your business to enhance services across the board. It can be mind-boggling how quickly tech moves.
So, where do you start? From smart contracts to VR and AR, our collaborative blog suggests it may be time to enhance business growth with technological changes.
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Enhance Business Growth with Technological Changes
Agile Development Across the Board
There have been many changes to development processes over the years, and each business type can use one or more iterations of popular cycles. However, traditional, slower models are facing replacement by faster, more agile systems for rapid development. Any reputable DevOps consulting service can work with you to adopt new technologies, processes, and development cycles across digital platforms, digital commerce, and large-scale data-driven systems. It’s vital to embrace cybersecurity practices simultaneously as you enhance business growth with technological changes.
Technological Business Changes to Contracts
The global pandemic has forever changed how we conduct business. Limitations and restrictions forced firms to adapt, and one key way they did this was to embrace smart contracts. Smart contracts are nothing new, but because of COVID-19, we were forced to use them more. Their convenience, speed, and security mean they are used across all sectors today, from retail to FinTech. Today, the smart contract industry is valued at almost $400 million. The valuation is caused by the belief that you can implement technological business changes for growth.
The Internet of Things (IoT)
Smart devices and the connected nature of the world and business mean you must embrace these technologies to meet customer expectations. However, the Internet of Things drives growth, productivity, and adaptation more than communication protocols. Smart-enabled devices can communicate with each other as smaller parts with independent processes and as part of a greater whole. This tech works well across retail, manufacturing, and civic services.
Data-Driven Actions and Results
You will have heard of the data revolution that has been happening over the past few years. Everything today is datafied, and there are good reasons for this. Data is more valuable than money because it allows you to target specific processes, customers, or services. Everything around us collects data, from our phones to AI-powered appliances. You can use all this data to make actionable business decisions with little room for mistakes with relevant data.
Artificial Intelligence, Of Course
Of course, the most significant technological change in recent memory is the embrace of artificial intelligence (AI). AI brings us closer than we have ever been to rapid, accurate, and data-driven results. Across all sectors, businesses are embracing AI for many valuable reasons. Generative AI can help speed up the creation of products, ads, and services. AI can also save a business a lot of money because you no longer need to hire expert services for a project.
Here are some business facts concerning the use of AI in modern businesses:
- 80% of the best-performing companies use AI in sales and marketing.
- 74% of major businesses have a plan for increasing AI investment.
- 63% have seen solid ROI and revenue increases because of AI usage.
- 60% of retail companies use at least one AI system in one more service.
- 58% of organizations use AI in at least one embedded business process.
- 44% of companies state they have seen significant savings from AI.
Source: https://www.ditdot.hr/en/technology-trends-in-business
AI comes in various forms, and you get what you bring to it from it. Anyone can say, “Write me an ad for whatever.” Yet if you want the best from AI systems such as ChatGPT, Perplexity, and Midjourney, hiring professional, prompt engineers may be necessary to use them well. Prompt engineering is a new career born from AI. It aims to enhance how we use AI and do so correctly for the best results. It is a career genuinely on the frontier of our new AI world.
Apps and Virtual Engagement
We rely on remote systems more than ever. During COVID, there was a shift to remote services because of the nature of the situation. Today, we have embraced remote systems because of their many benefits. For example, 80% of B2B sales occur via remote systems. Virtual engagement is taking over as the most sought-after method of business engagement. Customers no longer want long sales presentations with too much data in stuffy rooms.
Blockchain Services and Systems
Blockchain is synonymous with cryptocurrency because it handles ownership ledgers in an almost unhackable way. However, there is much more to Blockchain than handling the crypto exchange. Blockchain services can offer a digital solution for handling interactions between multiple organizations. Of course, your business can also use Blockchain services to handle transactions in a highly secure and traceable manner for customer and business peace of mind.
VR for Technological Business Changes
Virtual engagement via remote services such as smartphone videos changes how we conduct business and make sales. Taking it one step further, prospective customers and clients can engage with your service in a personal way through virtual reality (VR). Today, over 90% of companies use VR and its cousin, AR, to engage with customers. For example, car manufacturers now offer VR tours of new models that feel like you are sitting in the real thing.
Upgrading Digital Infrastructure
Most businesses try hard to stay competitive and adaptable, especially when the world changes quickly. That is where upgrading infrastructure like e-commerce platforms becomes valuable. For example, shifting from BigCommerce Blueprint to Stencil could be seen as a massive undertaking, but the pros outweigh the cons if the old infrastructure limits growth. These types of upgrades not only enhance performance but also offer greater flexibility, which is a key consideration in modern times. Infrastructure upgrades reflect a broader movement towards more robust, scalable solutions and underscore the importance of keeping technology infrastructures up-to-date to meet modern consumer expectations and industry standards.
Enhanced Cybersecurity
Unfortunately, the issue worsens with online fraud and intrusion being common knowledge. Today, cybersecurity problems cost businesses over $430 million per year all over the world. No business is off-limits for a cyber-attack; even smaller companies are becoming larger targets. The reason is that, as an SMB, hackers expect you to have limited security. Be alert for not giving them the pleasure and play these criminals at their own game.
Almost all companies will always have to make technological business changes for growth. This includes adopting agile development processes rather than relying on traditional slower systems. Of course, AI is becoming more commonplace across all sectors of business, production, and customer service.
In Conclusion: Enhance Business Growth with Technological Changes
Take Note: cybersecurity is another significant issue your business cannot drag its heels on. Today, small businesses are big targets, and cyberattacks are rising, regardless of company size, and affect individuals, too. Enjoying a long-lasting business and career requires embracing technological business changes for growth today and into the future.
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Sales Tips: Technological Business Changes for Growth
- Know the needs and desires of your audience, including your next new employer, in detail. Be Inspired and Inspiring!
- Make cybersecurity a top priority for both self and business.
- Make it a daily habit to research updates concerning your security.
- Ensure staff is well-trained in preventing cybersecurity.
- Put cybersecurity for individual endeavors at the top of your to-do list.
- Exchange news with trusted peers concerning security.
- The moment a potential hack seemingly appears, take precautions to eliminate it.
- For business growth, stay abreast of the latest technology updates and how you may adapt them to your efforts.
- Only test one new strategy at a time to ensure it works properly as you enhance business growth with technological changes.
- Celebrate Success!
Today’s insights are provided to help you achieve the Smooth Sale!
RESOURCES FOR PERSONAL AND BUSINESS GROWTH:
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CatCat: Build your future one skill at a time.
ContactOut is a web-based platform that enables users to search for contact information and uncover contact details, including email addresses, phone numbers, and other personal data.
Executives Diary Magazine Features leaders from varying fields sharing their inspiring stories, including Elinor Stutz.
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Greg Jenkins Consulting LLC – Helping organizations realize the value of diversity to build inclusive, evolving, high-performing cultures.
Growth Hackers – Helping businesses globally grow with lead generation, growth marketing, conversion rate optimization, data analytics, user acquisition, retention, and sales.
Humanology International Institute – The institution that develops and safeguards humanology as a discipline worldwide.
Inclusion Allies Coalition: “Everyone is welcome here.” Learn more to train teams and join the advocacy program.
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Inspired Movie Inspiration is a game changer for most; apply to an inspiring guiding light in conjunction with Producer/Director of the Inspired movie Patryk Wezowski,
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LinktoEXPERT “It is not who you know – who knows you and what your expertise can do for them, plus understand the value of hiring you.”
Lotus Solution LLC Helps organizations create diversity and inclusion to ensure fairness and work through customized consulting, training, and keynote speeches.
Onalytica: Find relevant influencers for your brand.
SalesPop! Purveyors of Prosperity; How to Compete against Yourself to Excel in Your Career.
Simma Lieberman, “The Inclusionist,” helps develop inclusive leaders from the inside out to champion diversity and build equitable, inclusive cultures at every level.
Yoroflow offers a comprehensive suite of digital workplace platforms to help you streamline your day-to-day operations, manage your finances, and grow your business.
Vunela Provides a unique opportunity to view Videos and read articles by World Leaders.
Win Win Women is the world’s only interactive network and an international community for women. Women WIN when they receive solutions + Experts WIN when they provide solutions = Win Win Women.
