It’s amazing how new technology keeps coming up. As a business owner, you have to keep up with these technological improvements and perhaps adopt some to improve on efficiency. They help improve productivity of your team and automating processes in your business. It also saves you valuable time and helps keep track of activities happening around you.
We asked entrepreneurs and business owners about the technologies they most look forward to and here are the responses.
#1- The ProSyn technology
Throughout the COVID-19 pandemic, it has become overwhelmingly clear that there is a desperate need for technologies that can quickly discover therapeutics against new infectious diseases, and importantly, rapidly manufacture them at scale to make them broadly available. The pandemic has highlighted limitations in the production and delivery of the treatments necessary to respond to a worldwide public-health crisis. Predicting and stockpiling appropriate therapies prior to the outbreak of a novel virus is nearly impossible. The ProSyn technology could reduce the need to stockpile antivirals and common intensive care-unit drugs and provide a more rapid response to emergency health situations, including new diseases.
Thanks to Nathan Collins, SRI International!
#2- Noise-canceling window
The purpose of the product is to allow you to have your windows opened for ventilation while significantly reducing the sound of traffic and other noises in the city. The way it works is fascinating. There are 24 small speakers attached to your window that creates an opposite wave of the noise being produced outside, which results in the cancellation of that noise. When the sound wave outside and the opposite wave meets, it creates silence. This could be a great *potential energy-saving tool for businesses since we don't have to use airconditioning all the time and we can open our windows instead.
Thanks to Chelsea Hunt-Rivera, Honest Paws!
#3- Use of AI and Blockchain by LegalTech
Now is the right time for the disruptions of the legal industry with the maturity of Artificial Intelligence and Blockchain technologies. It is now possible to prepare and negotiate legal documentation through AI. Blockchain technology will also make it easy for document authentication and management. With the advent of smart contracts, contracts can be automatically negotiated, executed and settled. In a few years' time, many things currently done by lawyers will be automated, driving up efficiency and driving down legal costs for the clients.
Thanks to Kim Chan, DocPro Services Limited!
#4- The rise of chatbots
I’d love to have my customer service managed 24/7 without fail. It will cut costs by a significant margin, as I won’t need a dedicated person to conduct customer service. It will be instant, too. There will be no need for vacations, overtime pay and all the things connected with having someone hired on your team. I think that it will provide a solution to my everliving problem of making customer service as effective and convenient as possible. I haven’t yet implemented a chatbot for my company because I think they are not developed enough for my tastes.
Thanks to Mike Sadowski, Brand24!
#5- Total cloud computing
The technology that I am excited about is total cloud computing where there is actually no need to have physical storage where there is an extra need for security and maintenance. Cloud computing will definitely make things easier for me and my clients and will result in large savings as well. That way, we can focus on things that are more important, like advertising and ads analysis.
Thanks to Jace Beeny
#6- Rise of solar-powered and electric cars
I'm a business owner based out of Southern California. In September, our state governor signed an executive order that requires all new passenger vehicles sold in California to be zero-emission by 2035. Not only are electric and solar-powered vehicles a great way to help combat climate change, but I predict they will make the lives of our employees much easier and safer to commute to and from work and in traveling anywhere they need to be.
Thanks to Deborah Sweeney, MyCorporation!
As a big fan of Back to the Future growing up, the technology I'm most looking forward to is the development of a functional hoverboard. Although there are already companies prototyping hoverboards, none of them have actually been able to defy physics in the way that Marty McFly did with his hoverboard. Perhaps we may be too old to actually enjoy a commercially-available version of a hoverboard, but the concept is certainly not that far-fetched in 2020 and with some luck, it will make an awesome gift for kids in the not-so-distant near future!
Thanks to Tom Winter, DevSkiller!
#8- AI for Refining Employee Performance
Using AI to improve the customer journey is the concept that's gotten most of the media coverage thus far. During the hiring process, AI resources can be used to screen applicants with specialized assessments, to measure key traits like problem-solving ability, communication skills, organization, and more. From there, machine-learning abilities draw on a number of publicly available and company-specific datasets to predict how a particular employee might perform on the job.
Thanks to Shiv Gupta, Incrementors!
#9- 5G technology
Who doesn’t want to download 5 GB game or movie in just a few seconds; that can be possible with 5G technology. Thousands of IT experts and companies from different countries are working on it, and they aim to launch in the market soon. 5G technology will prove to be transformative in some fields like virtual reality, telemedicine, alarm systems, etc. 5G will also enable us to browse faster to conduct a team meeting and support the Internet of Things and the sending of HD videos. I am sure 5G will revolutionize the world, and its features will make this a technology to watch out for in the coming years.
Thanks to CJ Xia, Boster Biological Technology!
#10- 3D Printing
In recent years 3D printing has made its place in the market. 3D printers offer a manufacturing process where the material is laid down layer by layer to form a 3d object. However, the potential it offers, and how much it has been used is not befitting. 3D printing is called the 3rd wave of technological revolution and is expected to bring about some big changes in the near future. It empowers people to produce whatever they want. This new manufacturing system will bring major changes to the current business model.
Thanks to Rolf Bax, resume.io!
#11- IoT Devices
IoT is considered the next great innovation in home automation technology. There are already a number of IoT devices being used in homes to automate tasks and make your daily life more convenient. House owners get to control temperature, lighting, and other similar things easily thanks to IoT devices. However, IoT has still got a lot to offer. By 2025, it is estimated that there will be more than 21 billion IoT devices. More cities will become “smart”. That means cities will be able to automate, remotely manage, and collect data through things like visitor kiosks, video camera surveillance systems, bike rental stations, and taxis.
Thanks to Bradley Stevens, LLC Formations!
#12- Update on page authority criteria
Being a digital marketing company, we have to stay on top of what innovations the internet is throwing up. As of now, what we are very interested in is the update on page authority criteria that Moz had promised to launch earlier-but has been delayed as of now. In short, Moz is looking at how one URL will have more organic traffic than other- while the present model looks at simply whether one URL ranks over another. This is a crucial distinction when it comes to digital marketing and has profound implications on SEO and content services.
Thanks to Avinash Chandra, BrandLoom!
#13- Perimeter Computing
It is a computer element that has everything from information processing, content collection, and distribution to sources of information. This element will help to enable smart grids. The devices that will be connected in this process will do the necessary analysis and then use the results to execute them. Perimeter computing is also aligned with cloud computing, which wasn’t possible with network computing. It’s an advanced technology and improved version of the network perimeter.
Thanks to Janet Patterson, Highway Title Loans!
#14- Advanced voice translators
Travelers are already using the pocket all voice translator, a pocket-sized tech translator that offers fast translations during real-time conversations. Foreigners speak directly into the translator in the language they know best and the translator relays the message to the locals instantly. The pocket all translates up to 74 different languages. We can predict that going forward, no conversation will ever get lost in translation.
Thanks to Mike Bran, ThrillAppeal!
I’d love to find a tech that helps creatives collaborate virtually. In a small creative services firm, our best work comes from collaborating together on solutions and ideas for clients. The current tools that exist aren’t robust enough for virtual collaboration. We can see each other, talk together and collaborate vocally. However, the tech that exists for whiteboarding together or “creating” together is lacking.
Thanks to Andrea Heuston, Artitudes Design!
Blockchain enables businesses to track activities and work with untrusted people with no centralized party. It decreases friction in business and has applications that started in economics. Blockchain can decrease costs, diminish settlement time of transactions, and improve cash flow.
Thanks to Natik Ameen, Canz Marketing!