Are you wondering what are going to be the digital trends that will reshape your business?
These digital trends are reshaping the world we live in, and they are impacting how businesses operate and compete too.
Recent events have accelerated many digital trends. This digitization of our world is changing how we live, work, and consume.
Let’s take a look at those which may be most impactful for businesses, and how they may help, hurt, or require us to alter business models and disrupt the way things have been done up until now.
New Payment Methods
We’re now going beyond mobile phone payments. Many big tech companies may have put facial recognition technology in the freezer due to privacy and discrimination and misuse concerns. Yet, they are still innovating and trying new things.
One of the latest digital trends that will reshape your business is the Amazon One palm reader. Recently rolled out in Seattle, this new tech enables consumers to pay with the simple swipe of the hand, even without having a credit card or mobile phone on hand.
Future uses for this payment technology could also be for granting and restricting access to buildings. As well as for customizing experiences.
There’s not much you can’t get delivered anymore and that is why it makes sense to note this as one of the digital trends that will reshape your business.
From medications to marijuana to groceries and prepared food, it’s all available on your doorstep with a couple of clicks or voice commands. In some cases, you may not even need to do that given how intuitive IoT and connected devices are becoming.
The changes this brings is more competition based on shipping costs and speed. Those who can deliver the fastest will win. And of course, free shipping is now the expected standard.
Now that all of this delivery is possible, it also means less foot traffic and vehicle traffic for those brick and mortar businesses who have chosen to try and fight for keeping a physical presence. You’ve got to bring something pretty special to the table to get people out in person.
For better or worse, AI and machine learning are changing everything. It can bring great efficiency and automation to some industries and even unlock businesses and markets that seemed impossible to be profitable before.
The downside is of course that it still seems to be much more artificial than intelligent. Or it is extremely limited by the biases of inputs by humans.
You may have already experienced these frustrations with credit, online advertising, or even just trying to find something to watch on a streaming movie and TV services.
This makes one of the most important hires and roles in businesses being those who can bring common sense and interpret the data being amassed in a human way.
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