FinanceTech Updates

6 Technology Trends That Will Change Your Business in 2018

Technology has been the pillar of human civilization since ancient times. Right from the advent of the first telephone to the advent of virtual reality, technological trends have come a long way in defining our lives today. Same is the case with the modern marketspace. Transactions that used to take place in the physical markets is now paving its way into the virtual markets, thanks to the internet. In this post, we will look at some of the top technology trends that will be big in 2018:

1. Chatbots:
Artificial intelligenceand chatbots are all the rage in the market right now. Well, for one they are cost effective. For businesses operating beyond state and country lines, it becomes hard to keep up with customers in different time zones when it comes to resolving queries. Programming a chat bot to do the same can not only reduce your manpower but also save considerable time and money in the process. This is only bound to grow big in the coming years.

2. Augmented and Virtual Reality:
AR and VR is changing the way people are perceiving the way people see the digital world. As per silicon angle, the AR and VR market found a huge amount of funding in 2017 itself. 40% of businesses using this tech are finding it helpful to examine real life scenarios and making their human resource more effective. Companies today can use this tech in various sectors like training, visualization and design enhancement. Looking for more such interesting pieces on technology trends? Then make sure to visit iMillenial Trends.

3. Blockchain:
Security today is one of the utmost main concern for any business today and blockchain is the one stop solution to all those problems relating to safety, security and privacy. What can be expected in 2018 is the rise of blockchain technology being incorporated by business houses. The financial and technology industry is already making moves in this arena introducing new tools and platforms based on blockchain.

4. Privacy and Security:
Privacy and security has become a major concern amongst the general public nowadays and this fear has only worsened with the recent US elections and the Cambridge Analytica scandal as of late. When hacks, breaches and personal data is going left, right and centre, it befalls upon both governments and businesses to amp up security measures and ensure privacy of its citizens as well as customers. Look out for new codes of conducts and transparency guidelines being incorporated by businesses.

5. Shifting from Cloud Computing to Edge Computing:
Edge Computing will simplify information processing and content collection closer to the source, reducing unnecessary traffic and latency. It will help organizations analyse important data in real time, a need currently of many industries like telecommunications, healthcare and manufacturing. A change is almost evident as businesses now are turning their eyes into Edge Computing as the next best thing.

6. Seamless conversation:
The coming of age voice search is finally finding its footing as more and more companies use the medium to be integrated into their businesses. Microsoft just put in their latest voice software a go and found a mere 5.1% error rate. This means that then software would be even better equipped at voice recognition than human transcriber themselves. With the coming of age chatbots, robotic speech and voice searches coming together, we will be able to communicate with our devices in a better way without mistakes. Expect businesses to capitalize on this in 2018.

So, there we have the 6 technology trends that will help change your business in 2018.