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What are the latest digital trends for business?

Here’s how these new technological advancements could impact your organization.

Technology and business go hand in hand. As technology refines itself and makes our everyday lives easier, it also provides new opportunities for businesses to launch and grow.

Each year, advancements come to the market with a chance to develop a brand new competitive advantage. Here you’ll find some of the latest trends that could make a difference in your business.

Increased cloud services

What are the latest digital trends for business?

Companies are continuing to shift to cloud services, with more than 80 per cent of business leaders looking up. This number is expected to climb throughout 2019.

The reason is simple — cloud services allow your company to remain flexible and mobile, with the ability to access your backend, your data and even full remote operation of your company from any location with an Internet connection.

5G wireless technology

As wireless technology continues to be enhanced, there’s will be a more seamless experience between moving from a direct Internet connection or Wi-Fi signal to a 4G or LTE network experience.

That transition should become even more seamless as 5G networks are rolled out across the country. This will allow for even more data to be in the palm of our hands with less waiting and improved speeds altogether. It will also allow more businesses to automate services, reach their data at all times regardless of volume, and worry less about network congestion. For instance, efficiencies provided by 5G could give the farming industry $3.3 billion in savings.

Blockchain technologies

Though blockchain has many uses, you may start to see more of an impact in the financial services world in the near future. Blockchain can be used for faster payment remittance and settlement, better document management and optimized transactions.

While it’s still in its early days, the technology is probably not going anywhere. Instead, it will evolve. Accounting firm Robert Half’s recent report indicates that at least a third of business leaders see financial staff needing to adapt new skills for the technology in the immediate future.

Chatbots and machine learning

What are the latest digital trends for business?

While you’ve likely already run into chatbots when looking for customer service options online, their implementation is poised to spread in 2019. However, you’ve probably also been frustrated in one way or another by current conversations — they’re not exactly perfect in terms of accuracy or understanding the nuances of language. Some 30 per cent of users feel that chatbots could make a mistake or cause them trouble — however, a fix is coming through machine learning.

As machine learning continues to enhance chatbots by helping them pick up on idioms, misspellings, common questions and new information that evolves over conversations, chatbots should continue to get better and provide more efficiency for businesses with customer facing aspects. They’re also available for other uses, including internal communication among your employees and booking appointments, as two examples. In fact, when looking at all the different potential use cases, about 80 per cent of businesses will use chatbots within the next year.

Enterprise mobility management

Since it’s not always feasible or practical to offer all employees a smartphone, more than 60 per cent of businesses currently institute a Bring Your Own Device (BYOD) policy. Having numerous different devices within a business, however, brings its own challenges.

Enterprise mobility management software is a key tool to keep sensitive data intact and to ensure proper use of that data. Not only can it be used to track where your supply chain vehicles are, for instance, but it can also help keep any device secure (provided the software can interact with it), all the while delivering flexibility to your employees. Combined with the incoming 5G technologies, the Internet of Things and other technological advancements, mobility management is set to become a bigger part of business in the near future.

Up Next: How to leverage this tech towards marketing dominance.

Michael Badejo

Michael Badejo is a communications professional and entrepreneur based out of Winnipeg. His diverse body of work has appeared in Canadian and international outlets covering technology, transportation, commerce and more. When he’s not writing, he’s running his boutique communications shop or finding out the latest in current events and technology.

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