We have all embraced technology in our everyday lives and those of us with a business are no different. If you hope to compete in today’s increasingly digitised world, your organisation needs to stay up-to-date with the latest technological developments, which could help you to stay agile, improve efficiency and ultimately boost those all-important profits.

  1. Artificial intelligence

No, we don’t expect businesses to start investing in robots. Rather, the latest developments in artificial intelligence (AI) are now being used as a powerful computational aid for organisations of all sizes. Using AI-based technology can allow you to automate a wide range of tasks, from repetitive, high volume administrative duties through to more complex processes and operations.

This automation increases efficiency, freeing you and your staff to focus on other tasks. The improvements in bot technology means that customer service can be vastly improved, with advanced AI chatbots able to handle routine enquiries and transactions, as well as direct more complicated queries to the right members of staff. Best of all, using AI bots for transactions can be a way of guaranteeing compliance, as customer data is handled with total security.

AI-enhanced software also offers impressive analytic capabilities, allowing your business to get the clearest understanding of all the relevant metrics. This in turn can be channelled into improved marketing campaigns, which reach the right demographics for your brand.

  1. The Internet of Things

Also known as IoT, Internet of Things devices and edge computing can offer your business some fantastic capabilities. There is now a diverse range of IoT devices available for optimising business processes, including asset management tools (which use sensors and scanners to monitor stock levels and keep track of deliveries), production feedback monitors (which allow you to check the status of crucial equipment), and health and safety monitors (worn by employees to keep them safe on the job.)

There is likely to be much expansion in the use of networked IoT devices, with a focus on integration with existing systems. This means that every step of your business’s processes can be accurately monitored and collated, from the billing and accounts through to picking the products in the warehouse. The result is error prevention, increased productivity and better analytics.

  1. Augmented reality

A hot trend in current web development, augmented reality, or AR, is a fantastic tool for engaging with customers and providing an exemplary experience. Big brands such as IKEA are already using AR to create apps that allow customers to view their furniture in a ‘virtual showroom’.

Indeed, the applications for this technology are limited only by your imagination and there is great value in giving your customers the chance to experience your products before they purchase. It’s a versatile technology too, with the rise of virtual conference centres certainly proving popular in the current climate of social distancing.

  1. Improved security

We mentioned compliance earlier and this vital consideration is just one of the many security aspects that can be transformed by adopting the latest technology. To keep your business safe these days, it’s essential that you opt for the most advanced cloud-based security systems.

Using advanced AI and machine learning technology, the latest security software can identify threats and take action immediately, protecting your valuable data. Complex encryption technology and multi-factor authentication make your systems secure and allow you and your staff to work safely at home as well as in the office.

It’s perhaps the single most important technological investment that you can make for your business.