Technological Advances and IT-enabled Business Trends for the future
Think of your last 24 hours. Chances are you’ve had several moments of continuous connection with people, while most of it would be with information, apps, services, gadgets, and devices. This “digital mesh” surrounds the individual and new, continuous and ambient experiences will emerge to exploit it.
Our lives are becoming increasingly connected to our devices than other people and a variety of things. Smart machines get smarter, and a new IT reality must evolve with technology architectures and platforms to support the advancement of a digitally connected world. The URAL Federal University, offering one of the best International MBA programs, provides a specialization in IT so that you can strengthen your business outlook with a global perspective.
This year’s top 5 strategic technology trends are stated below, and I’m sure you’ll agree to them all:
Joining the social matrix
Social technologies are much more than a consumer phenomenon: they connect many organizations internally and increasingly reach outside their borders. The social matrix also extends beyond the cocreation of products and the organizational networks. Now, it has become the environment in which more and more business is conducted. Companies also are becoming more porous, enabling them to reach across units speedily and, to assemble teams with specialized knowledge. Social features, meanwhile, can become a part of any digital communication or transaction—embedded in products, markets, and business systems. Users can “like” things and may soon be able to register what they “want,” facilitating new levels of commercial engagement. We are starting to see these effects in sectors ranging from automobiles to retailing as innovative companies mine social experiences to shape their products and services.
We’ll see continued advances in 3D printing with a wide range of materials, including advanced nickel alloys, carbon fiber, glass, conductive ink, electronics, pharmaceuticals, and biological materials for practical applications expanding into aerospace, medical, automotive, energy, and the military.
Recent advances make it possible to mix multiple materials together with traditional 3D printing in one build. This could be useful for field operations or repairs when a specific tool is required and printed on demand. Biological 3D printing—such as the printing of skin and organs—is progressing from a theory to a reality; however, politicians and the public don’t have a full understanding of the implications.
Such complex topics are not usually included in curriculums, but URAL’s International online MBA does, so as to give the students a finer edge compared to the others.
Advanced System Architecture
The digital mesh and smart machines require intense computing architecture demands to make them viable for organizations. They’ll get this added boost from ultra-efficient-neuromorphic architectures. Systems built on graphics processing units (GPUs) and field-programmable gate-arrays (FPGAs) will function more like human brains that are particularly suited to be applied into deep learning and other pattern-matching algorithms that smart machines use. FPGA-based architecture will allow distribution with less power into the tiniest Internet of Things (IoT) endpoints, such as homes, cars, wristwatches, and even people like you and I.
‘Freeing’ your business model through Internet-inspired personalization and simplification
After nearly two decades of shopping, reading, watching, seeking information, and interacting on the Internet, customers expect services to be free, personalized, and easy-to-use without instructions. This ethos presents a challenge for business, since customers expect instant results, as well as superb and transparent customer service, for all interactions—from websites to brick-and-mortar stores. Fail to deliver, while competitors’ offerings are only an “app download” away.
A world of digitized instant gratification and low switching costs could force many businesses to seek innovative business models that provide more products and services free-of-charge or at a lower cost. They’ll also have to think about offering more personalization in their products and services: customization at a mass level. This approach could require changes to back-end systems, which are often designed for mass production. Businesses will need new ways to collect information that furthers personalization, to embed experimentation into product-development efforts, and to ensure that offerings are easy to use—and even fun.
Buying and selling as digital commerce leaps ahead
The rise of the mobile Internet and the evolution of core technologies that cuts costs and vastly simplifies the process of completing transactions online are reducing barriers to entry across a wide swath of economic activity. Amped-up technology platforms are enabling peer-to-peer commerce to replace activities traditionally carried out by companies and giving birth to new kinds of payment systems and monetization models.
Entry costs have fallen to the point where people who knit sweaters, for example, can tap into a global market of customers. Mobile-payment networks, sometimes augmented with services that extend beyond pure transactions, are a second area of evolution for e-commerce as costs fall. This trend will become more striking over the next decade or so; 600 cities, most in emerging markets, will account for roughly two-thirds of the world’s GDP growth. One likely consequence for fast-growing cities will be the rapid development of dense, digitally-enabled commerce—new, highly evolved ecosystems combining devices, payment systems, digital and technology infrastructure, and logistics.
In short, as these trends take hold, leaders must prepare for the disruption of long-standing commercial and social relationships, as well as the emergence of unforeseen business priorities. The International Executive MBA today at URAL federal makes sure that the students are well aware of the future advances in both, E-commerce and IT thus making them better leaders. It’s worth keeping in mind that these technology-enabled business trends will not only be a boon for consumers but also stimulate growth, innovation, and a new wave of pace-setting companies.