You might not be
familiar with the ‘Internet of Things (IoT)’ as a term, but you’ll almost
certainly be familiar with the technology.
Put
simply, the IoT is the array of smart, connected devices we take advantage of
every single day. Whether it’s a virtual assistant or a smart thermostat,
chances are you’ll be readily engaging with the IoT constantly.
Smart technology is set to become a pillar of modern western life and is
already influencing both our normal and working lives significantly.
Particularly where the latter is concerned, smart technology is making waves in
improving all areas of business performance.
But how?
The Worldwide Office
The extent of interconnectivity today means that ‘the office’ is becoming
merely a concept, accessible from virtually anywhere. Cloud technology has
already established itself as an essential to modern business, allowing secure
access to all relevant professional data to anyone and anywhere that can muster
an internet connection.
Utilizing cloud technology means staff can work, collaborate and communicate
from all around the world, which has resulted in a rise in productive
work-from-home arrangements and more open and interactive communication with
clients.
The cloud provides employers and employees with mutually beneficial
arrangements that promote better staff engagement and retention, more open
collaboration and more productive, labour-efficient solutions.
Streamlined Savings
Smart technology is helping businesses to identify areas to cuts costs without
a drop in performance. Whether this is the increased use of AI allowing for
better distribution of labor, time tracking technology allowing for efficient
project spend or the likes of smart washing machines and heating systems
bringing down utility bills, smart tech is making a huge difference to
professional budgets.
The financial benefits of smart technology lie primarily in its ability to take
the day to day ‘donkey work’ away from businesses. This allows for refocusing
of labour effort to key skill areas, whilst the IoT takes care of the
administrative, non-core elements of everyday business.
The AI Takeover
Some will still think of artificial intelligence as an ‘I-Robot’ style robotic
threat. Whilst we needn’t fear robots taking over the world right now, AI
technology is making huge differences across a number of major industries.
Take marketing, for example, where AI is collating huge amounts of data to
create more accurate customer profiles. This, in turn, allows businesses to
create better targeted ad campaigns that reduce spending and improve consumer
experience at the same time.
On a broader scale, the world of big data is helping businesses to improve
their understanding of patterns, trends and associations across all industries,
with AI the driving force behind calculating and presenting that data in way
users can understand and act upon.
Smart technology is helping to improve and streamline all walks of life, and
business is no different. The next ten years should see unthinkable strides
forward in smart technology and its professional uses, which mean there are
exciting times ahead for the business world.
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