As we look toward the new year, it’s time to consider what influences emerging technologies and other trends might have on our businesses. After all, to stay competitive, business owners have to stay informed of what technological advances are making waves in the world. What are you most looking forward to incorporating into your business model?
Upcoming Tech Trends
While none of these tech trends can be called particularly “new”, we’ll be seeing them become simpler and more commonplace in the new year. How many are you already successfully using? More importantly, how many new ones are you prepared to incorporate?
- Increased automation
- More complex mobile apps
- Fewer managers
- More strategic social media usage
1) Increased Automation
For some industries, the complaint of “robots are taking our jobs!” will become even more accurate. Automated processes are already in place for such simple tasks as cleaning and certain transaction processes. How can your business best use this constantly growing branch of technology? Which jobs are best assigned to an AI to save time?
2) More Complex Mobile Apps
Mobile apps have been a part of the business world for several years now. From ordering lunch from a restaurant to comparing prices of major brands, consumers are taking advantage of their apps’ evolving functionalities. And those apps are only going to get more complex! Businesses are constantly developing new services to offer through their apps as the internet continues to dominate their industries.
In 2020, one major question to watch regarding apps is who exactly handles money from in-app purchases. Obviously, the payment itself goes to the business or developer behind the app, but does their bank or the app store control the actual transaction? The answer isn’t quite decided yet. Keep an eye on this development to plan your own app-based transactions in 2020.
Pro Tip: Developing and marketing an app for your business is an excellent way to appeal to tech-savvy consumers. However, make sure to follow the debate over money exchanged through in-app purchases to see if the app is truly worthwhile for you.
3) Fewer Managers
Companies with countless layers of management and bureaucracy tend to move very slowly since a huge crowd of people has to stay informed of and approve any changes. In the fast-moving modern world, this model simply doesn’t work as well as it used to. Startups or companies with fewer layers of required approval are able to jump on trends faster and keep pace with their industry much more efficiently. Larger businesses have taken a while to realize the problem, but as 2020 approaches, businesses as a whole are restructuring to reflect this. Unnecessary layers of management will gradually shrink, allowing companies to move faster and work more efficiently.
4) More Strategic Social Media Usage
Social media has made a huge difference in the way companies represent themselves online. However, as with any trend, overuse or oversaturation can lead to problems. Plenty of companies have used social media too much, incorrectly, or not enough, leading to a negative reflection on their online image. Going into 2020, more businesses will likely take a closer look at how they post on social media and try to improve their strategy. The exact route they take will differ between industries and individual businesses. However, the trend of a more strategic approach to social media will likely become more apparent in the new year.
Staying on Top of Technology in 2020
If your business has already incorporated most of this technology into your everyday functions, great! Keep it up. But don’t stop there. Technology moves at a breathtaking speed and your competition works hard to keep up. Don’t ignore these upcoming business tech trends and find yourself left in the dust!
Join the conversation to see how other business owners are planning to stay competitive in 2020.