The Latest Trends in the Business World Every Entrepreneur Should Know
BY: MATEI GAVRIL ON TUESDAY, FEBRUARY 27, 2018
You have made it: you have your own company, it’s profitable, everything is working like a machine, so, does this means you can relax? No, not actually. Finding a routine and settling in, is not ideal when today’s technology is developing at a rapid pace.
Why should you be interested?
Because major businesses are constantly upgrading their system and are looking for new ways to be innovative that would also attract customers. Their decisions are based on new trends and what works.
In my view, as a business owner, if you do not know what trends to keep up with, first you have to identify what your business lacks, and what could help it advance, and afterwards, you can do your research and select the right upgrade.
With that in mind, I’ve focused on three trends, and how they are transforming the world as we know it: Cryptocurrency, Artificial Intelligence, Automation.
CRYPTOCURRENCY: Invading our world
I am sure you have heard of Bitcoin by now, but maybe some of you are not clear about how it works and how relevant it is. Bitcoin is the first digital currency to appear and it has had incredible success because of the blockchain technology it operates on, the decentralized system – no third parties (banks) are involved, no fees when you transact and it’s anonymous.
Cryptocurrencies or digital money are used to pay for a variety of goods and services.
Numerous companies are accepting Bitcoin as a legitimate source of funds, and everyone can now buy products online, pay for bookings, eat or even play poker. Have a look at some major companies that use and accept crypto: KFC Canada, Subway, Microsoft, Reddit, Expedia.com, and many more.
What about having fun? Digital currencies have covered the entertainment sector as well. If you want to unwind from a hard day at work, and get your adrenaline pumping, you can turn to Texas holdem poker and pay in bitcoin. There are many casinos and poker rooms that let clients use their digital wallet instead of using cash to pay for their services.
But what if you run out of money? Fortunately, there are loans you can turn to, in order to continue your great time, relaxed that there will be enough time to pay what you owe.
ARTIFICIAL INTELLIGENCE: Mind-blowing uses
Are you using Windows 10, the Amazon platform or Google? If you do, all of them are incorporating AI to their organization to enhance your experience and make life easier.
For instance, Microsoft revealed that half a billion devices with AI are already part of Windows 10. Google has launched AI experiments where you can train a machine using your camera, and no coding is required. Amazon has been doing research into artificial intelligence for more than 20 years, and machine learning algorithms are driving many of their internal systems.
There is no denying that the adoption of AI to augment performance is being implemented across a variety of industries. With a team of professional maybe you can integrate AI into your company and take advantage of the exciting improvements it may deliver across your projects.
AUTOMATION: Unbelievable creations
Businesses that use vehicles that drive themselves? Waiters that are replaced by robots? Yes, it is all happening now, and many more changes are planned to happen.
Simply put, automation is the technology by which a process or procedure completes tasks, based on a series of "if-then" conditions, that are performed without human assistance.
The reason automation is massively expanding is because organizations have realized how this technology helps in reducing error rates, drives efficiency and improves general operations.
In this regard, the companies Otto and Budweiser teamed up to make the world’s first autonomous truck delivery. It can drive 120 miles from Fort Collins to Colorado Springs and deliveries are made to stores on a daily basis. The reason this invention was brought to life was because there aren’t sufficient drivers to satisfy their demand.
What is more, traditional, low-paid jobs are replaced more and more by automating devices. Here are some examples from the workzone website:
- Pizza Hut replaced waiters with robots to take orders and process payments.
- Walmart used automation to replace 7,000 accounting and invoicing employees.
- iPhone maker Foxconn replaced 60,000 employees with robots.
- Wendy’s replaced their lowest paid employees with robots.
As we give in to the digital age, unimagined, new and powerful devices and technologies have emerged to satisfy today’s needs. They have proven to be better, safer and more complex, stimulating entrepreneurs all over the world to dare upgrade their own business.
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