The National Federation of Independent Business (NFIB) released an infograph highlighting the top three tech trends for small businesses in 2018. According to the NFIB, adopting these emerging technologies can create a more productive and efficient organization by automating manual processes, providing new ways to engage customers, and helping businesses accept payments anywhere. The three tech trends all small businesses should be aware of include the following;
- Artificial Intelligence: While not a huge surprise, the consistent advancement of AI has already led to significant changes in the way we do business today. According to Small Business Trends, when “it comes to AI, 59 percent of organizations are collecting information to build an artificial intelligence strategy. And by the time 2020 rolls around, the top five investment priorities for CIOs will be AI.”
- Augmented Reality: Virtual reality may be the more popular of the two, but augmented reality is probably the more business friendly in terms of usage today. While VR focuses on bringing virtual features to the real world, AG can bring real people to virtual settings. This can be useful for things like meetings with people from multiple parts of the world. Immersing them in the same room with AG can help in completing projects and ensuring tasks run smoothly.
- Mobile Payments: More people are using their phone to access the internet and thus, purchase items. it is estimated that mobile payments will be used by 56 percent of consumers by 2020. In addition the volume of payments are also expected to almost double between 2015 to 2020 increasing by 80%