Information Technology moves at a rapid pace. It can be difficult for businesses to keep up with new products, solutions, and trends. Not only do these new IT trends offer incredible ways to increase awareness, revenue and functionality, but businesses that don’t keep up risk losing ground in their respective industries and to their competitors. Technology is essential to keeping your business profitable and relative.
Here are the top IT trends you need to consider. Let’s begin!
Data has become the most significant asset for all companies in recent times. Companies have all the data available at their fingertips in a digitized world and they must harness this power. The process of collecting, interpreting, and using data is known as datafication. Anything that happens internally or externally can be collected and stored as data. However, the most important thing any business can do is to understand this data.
While datafication has been relevant for a while now, we are beginning to see the introduction of highly advanced IT datafication solutions. Artificial Intelligence (AI) is beginning to play a big role here. AI and bots are able to collect and analyze data from all aspects of the business spectrum.
While humans can still interpret data in a more relevant or meaningful way, the fact is that AI is catching up fast. We believe AI will play a more integral role in datafication in 2022 and 2023, than ever before. Therefore, businesses need to start planning for the technology that supports datafication. Industries that are moving in leaps and bounds regarding datafication applications include:
- Insurance – From risk profiles to business models and everything in between, datafication improves how insurance companies manage risks and profitability. AI can help evaluate consumer behaviors through datafication to further enhance this process.
- Banking – Through datafication, banks can create accurate profiles of their customers and calculate risks accordingly. In addition, they can target customers better for additional bank products like investments, mortgages, and more!
- Human Resources – Forget personality tests and long drawn out interviews – datafication can help HR save time and effort by pinpointing candidates precisely and even market the company to suitable candidates via platforms like LinkedIn.
2. AI and Machine Learning
2022 is the year of AI and machine learning. The incredible leaps and bounds made in this field are a game-changer for businesses. AI is helping companies to do just about anything faster, smarter, and with less room for error. AI and machine learning improve business operations in the following ways:
- Efficiency and productivity improvements
- Increased speed of business operations
- New capabilities and business model expansion
- Better customer service
- Improved monitoring of all processes
- Better quality of workmanship and eliminating human error
- Better talent management
One of the biggest trends in 2022 is machine vision. Machine vision is different than computer vision and can be used in conjunction with many different types of technologies, systems, and applications. As the AI Journal points out, machine vision basically uses AI to give a computer the ability to ‘see’ using video cameras, ADC or DSP and is similar, in complexity, to voice recognition. Machines can now recognize and interpret pictures and video, which has amazing potential for businesses.
3. Extended Reality
Extended reality (XR) is an all-encompassing term including all-immersive learning technologies such as virtual reality (VR), augmented reality (AR), and mixed reality (MR).
Here are some of the benefits of XR for businesses.
- Enhanced Customer Experience
- Improved Internal Communications and Collaboration
- Driver of Productivity
- Immersive Training Solutions
- Accurate Insights via Data Visualization
4. Digital Trust
Digital trust is the confidence the public has in the ability of businesses, technology and processes to create a secure digital world. From blockchain technology to distributed ledgers and non-fungible tokens (NFTs), digital trust plays a crucial role in how businesses interact with their audiences in this new landscape.
As blockchain applications and capabilities evolve, there’s an increasing opportunity for businesses. Smart contracts, NFTs, and cryptocurrency are incredible business tools, but without the public’s trust, they don’t mean much.
Digital trust is a choice that companies must make to remain relevant in 2022. While many IT tools exist to make this a possibility, the decision to do things morally and transparently is an important consideration.
Speaking of trust, be sure to select a technology provider that can work with you to understand your business needs and your growth initiatives. Conscious Networks is a holistic technology solutions provider that works with businesses of all sizes. Start the conversation today and stay on top of the latest trends with our technology advisors