Why Technology Adoption Is Essential For Achieving Business Productivity?
By John Wick
The technology industry witnessed a global 30% y-o-y growth in new business formation last year as per the Swyft Industry Report.
Technology automation has become an integral part of our life. For organizations adoption to technology and the latest automation tools are essential to achieve business productivity and growth.
With the latest technology such as machine learning, artificial intelligence becoming common, organization are aiming for leveraging their power to enhance growth. They are already in use in many software applications and Customer Relations Management system.
How Technology Adoption helps Brands to Grow?
Technology helps your brand in many ways to grow business such as:
1. Extend visibility and build a customer base
2. Improve customer interactions
3. Innovative ways to sell and increase customer satisfaction
4. Take more informed decisions and build agility
5. Increase productivity and collaboration
6. Automate routine Tasks
Software-as-a-Service (SaaS) technology companies in the sector like telehealth, fitness, and Ed-tech are seeing a rise in demand. Even amid the Pandemic, the technology industries are at much demand to support various other core industry sectors.
Technology and Automation
Businesses are looking at technology and automationis a means to attain long -term sustainability.
With the latest technology such as machine learning, artificial intelligence automation is becoming common, the adoption rate has significantly improved.
Technology Sectors that are experiencing a surge in their activities
Healthcare technology firms offering home diagnostics and telemedicine services are experiencing a high demand for their digital services.
Healthcare start-ups are aiming at providing a more proactive and preventive care approach by leveraging data analysis and big data.
Clinically meaningful insights will be available for doctors to further study and make decisionsbefore the occurrence of an event.
Fitness Trackers and Wearables
On a more consumer front, the fitness trackers and wearables are what most of the health start-ups have launched. It helps customers to track their exercise and fitness goals.
It helps to take a proactive approach to personal health by using the wearables and keeping track of the fitness levels.
The next key area is telehealth services and online consultation. App or web-based platforms are built for hospitals, clinics, healthcare providers to reach out to their digital customers easily.
Medical devices that could be used at home such as electronic thermometer, pressure monitor, etc. are other areas for health-start up.
In hospitals, the health start-uphas various opportunities in supplying digital clinical devices, smart hospital rooms with digitized medical equipment, and more.
Technology - Internet of Things, Connected Cars, Drones
Drone technology that was previously used to spray pesticides in agricultural fields was effectively used to spray disinfectants in public places and for preventing vehicles from entering restricted areas.
Delivery medical samples and quarantine materials due lockdownwas a major utility for Drones.
Smart City infrastructure such as the internet of things, connected cars, sustainable energy management, blockchain, etc., is here to transform the way we live, work, and travel.
The global market for connected cars is expected to grow to USD 219 billion by 2025. The connected car market is closely linked to progress in smart cities and advanced traffic management systems.
The whole new technology of the Internet of Things is set to revolutionize many industries, It has already seen strong acceptance in industries such as manufacturing, healthcare, transportation, and utilities.
The Ecommerce industry is seeing Significant growth especially during the current situation of the global pandemic. As stepping out is not advisable for shopping, the online orders have seen a surge.
Many individuals who haven’t tried their hands on have entered the new online shopping world. Online shopping for essential goods such as packaged food, household items, daily foods, etc., saw a spike in demand.
Online market places, supply chain, and logistics are innovating to meet the growing demand efficiently and make the shopping experience more relaxed.
Last Mile and Service Delivery Companies
To meet the growing demand for eCommerce and online shopping, the distribution, and logistics industry is also witnessing radical transformations.
To complete the goods delivery cycle from the manufacture to the customer, the last mile and service delivery companies play a great role.
In the future, this sector will see technology adoption to equip the logistics and distribution to tackle the growing number of daily order fulfillment.
Remote Online Work Platforms
With the work from home concept gaining more acceptance and became a way of life, the demand for remote Online Work Platforms is experiencing a spike.
Technology companies are providing all required Infrastructure for employees to connect. Video conferencing, file sharing, project tracking, and other real-time communication tools are introduced to the market.
Hence, overall the technology adoption has revolutionized many industries and it is a continuous process of embracing the latest technology to stay competitive. Adopting the latest Technology trend by organizations is to deliver an enhanced customer experience and customer satisfaction.
Organizations leverage the power of technology to simplify processes, increase business productivity, create economies of scale, cater to more customer demands, and effectively serve them.