Business Tech Trends

How will technology enhance business?

Key takeaways: 

  • Tech developments can help businesses enhance trust, accelerate change, and grow sustainably. 
  • Tech trends usually benefit businesses that embrace them but can hurt resistant ones.
  • Various digital transformation trends could revolutionize businesses.
  • Tech trends include increased voice search and more. 

Businesses, like any entity, use technology to simplify processes and create better results. Tech helps create solutions where there weren’t any before. What does it have in store for businesses? Let’s take a look at the digital transformation trends ruling and how they are helping businesses.

How tech developments can transform businesses

Developments in technology generally accelerate digital capabilities and growth. They allow business leaders to be better positioned to solve common challenges. Here are three ways new developments can help organizations: 

  • Enhance trust
    New technology can boost trust across different organization levels by creating resilient and efficient IT foundations. This happens when they integrate and process data more securely across cloud-based and other environments.
  • Accelerate change
    Businesses enjoy sustainable change when tech creates creative solutions that scale up and accelerate organizational digitization. Eventually, companies will be better placed to respond to change by creating apps that respond swiftly to automate enterprise activities, leverage AI, and accelerate growth. 
  • Sustainable growth
    Enterprises can capitalize on strategic tech trends to unleash information and communications technology to increase their market shares and sales. 

Overall, these developments will promote value creation and enhance digital capabilities for businesses that adopt them.

8 business tech trends

Technology is ever-changing and advancing. What are the biggest tech trends to know? Here are eight:

1. Increased voice search and virtual assistant use

Voice search and virtual assistant use in modern enterprises will increase. This technology is critical because it forms the foundation of free lead generation – online searches. Enabling online shoppers to shop more effectively increases profits for businesses. 

Voice search-generated sales in the United States alone hit $1.8 billion in 2017 and rose to over $40 billion by 2022. Therefore, it’s a very good idea to optimize your website to leverage this lead-generation tool. It will help you get more online sales for less money.

2. Increased telecommuting

Telecommuting is another trend that’s defining how employees work now. Even before the COVID-19 pandemic, many workers were telecommuting using their laptops, smartphones, and tablets. Increased remote working has necessitated the need for tech companies to explore more ways of enhancing it. 

For instance, Zoom capitalized on social distancing to sell its video conferencing app. Google responded by enhancing its Meet Now app to boost video communication and collaboration. A recent report says that only 8% of all conference rooms worldwide have video conferencing capabilities. Collaboration tech giants have noticed this need and are responding accordingly. 

Google, Microsoft, Zoom, Salesforce, and Cisco are creating software and hardware to improve video conferencing. They seek to advance meeting quality through intelligent cameras and collaboration AI-powered systems. These advancements will enable employees to work remotely and collaborate conveniently. That’s why the number of video conferencing devices is expected to grow six times by 2025.

3. The distributed enterprise

The distributed enterprise is another digital-driven trend that may transform business this year. It creates a remote-first employee experience and digitizes consumer/stakeholder touchpoints. This enterprise model serves consumer and remote workers’ needs better, creating a demand for more virtual solutions. 

4. Privacy-enhancing computation techniques

Privacy-enhancing computation is another tech trend. It will secure personal data in untrusted environments. This development aligns with the growing privacy and data protection laws nations and regional blocks are making to address consumer complaints. This technology uses various privacy-protection techniques to extract value from consumer data without breaching compliance requirements.

5. Video marketing

Businesses only remain profitable when they sell. Sales are difficult to get or maintain without proper marketing initiatives and tools. This year, companies will boost their marketing efforts through video marketing. 

Although the technology isn’t new, it’s wrong to ignore it because research shows that: 

  • 70% of consumers have shared a branded video.
  • 72% of enterprises said that video marketing improved their conversion rates.
  • 52% of consumers said they felt better buying from brands after watching their videos.

So, what’s the takeaway? Businesses should leverage SEO-friendly video marketing to rank higher in consumer searches. It just makes sense.

Two small business owners working on business tech trends

6. Generative AI

Generative AI is another trend that will drive business innovation. This technology learns about artifacts from data, generating innovative creations similar to the originals without repeating them. It can also create new forms of creative content and supercharge R&D cycles in various industries like medicine. 

Organizations can use generative AI to create original media content, synthetic data, and models of physical objects. For example, it was used to create a drug to treat OCD in less than 12 months, when drug development typically takes about five years to get to trial. Gartner estimates that by 2025, 30% of new drugs and materials discovered will be AI-generated.

7. Increased 5G penetration

This year will also experience higher 5G penetration and deployments. This technology will power mobile devices to perform faster and better than LTE. Its successful implementation and adoption will enhance the consumer experience with mobile devices. 

The world is mobile. People use their mobile gadgets to interact with businesses. 5G allows consumers to search for and purchase products online more efficiently.

8. Customers to embrace chatbots and virtual assistants

Lastly, businesses will experience a greater consumer demand for chatbots and virtual assistants. People are busy and don’t have much time to scroll websites. They want instant answers to their questions before making buying decisions. 

Businesses will benefit from this trend because they can chat with customers 24/7. Speedy interaction boosts user experiences, increasing conversion rates. It’s not surprising research stats on chatbots reveal that many people prefer chatbots to phone calls and emails. So, don’t become vulnerable to your competitors by ignoring this trend.

Start your outsourcing adventure with Doxa today

Tech-driven trends can make or break businesses, depending on how they respond to them. Adopting tech developments enables businesses to accelerate their growth, sales, and competitiveness. Failing to embrace tech trends exposes companies to weaknesses in the market.

Fortunately, smart enterprises can embrace telecommuting by hiring a Business Process Outsourcing (BPO company) to handle their recruitment processes. A BPO company like Doxa helps small and mid-sized enterprises in this area. Our hiring solutions enable businesses to enjoy many benefits, such as reduced hiring costs and operational efficiency. 

With our experience helping companies expand their business and build global teams across Southeast Asia, Eastern Europe, and Latin America – and our understanding of what it’s like to work with offshoring and outsourcing businesses – we saw an opportunity to create a better offshoring solution. Our offering is structurally aligned to deliver better results for local businesses and give them the technology resources and capabilities to compete in a global world – one that treats its people as an asset, something you invest in, and lifts the communities we are a part of. We believe that everyone can win.

Don’t remain vulnerable to your competitors by lagging with tech trends.

Contact our team today for a free 20-minute consultation to help you embrace tech trends and leverage BPO.

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