From the evolution of 3D printing to artificial intelligence technologies, last year has been a prime year in tech. With highly innovative tech continuing to hit the market this year, businesses are continually evolving by incorporating this developing tech into their daily operations. A good example is the review of Borgata casino, which is readily available on the internet thanks to new technology.
Today, Innovative technologies are transforming trade by making the process more efficient and inclusive. Here are different innovative technologies that have the power and potential to change the way businesses are done in the modern era.
- 3D-printing
The jury is still out on the effect of 3D-printing on trade. Studies anticipate that once the high-speed tech is widely embraced and it becomes cheap enough, business may grow by as much as 25% since 3D-printing needs less labor and lowers the needs for imports. Some maintain that such views are too rosy and don’t consider the difficulty and reality of mass manufacturing. Nevertheless of the positions, the effects of 3D-printing on business are real, especially as cheaper and faster methods of 3D-printing become available.
- Trading Services Via Digital Platforms
It’s continuously becoming more comfortable to trade services online. These digital platforms allow users to find service providers from all over the world for a wide variety of services. In the meantime, startups such as the international learning platform VIPKID link Chinese children with American educators to learn English online. The digital platforms connect the consumer with the service provider in a unique way that wasn’t doable before when such services were delivered in person.
- Mobile Payments
From M-Pesa to Alipay to Apply Pay, mobile payments are changing the way we live and connecting people to market opportunities. As stated by the World Bank Global Inclusion Database, the number of individuals who obtained access to bank account rose by 20% between 2011 and 2014. And mobile money accounts were a significant drive for financial inclusion, mostly in emerging economies.
For example, in Sub-Saharan Africa, 64 million adults (12% of adults) have mobile money accounts compared to just 2% worldwide. As the lately banked population connects to mobile payments, it’ll be easier for them to take part in global trade, either as businesses man or customers.
- 5G Networks
Telecommunication companies launched 5G networks this year. 5G provides faster connectivity at lower power consumption and lower latencies. In other words, this means mobile connectivity is more rapid than nearly all wired broadband in the U. S. It’ll fuel transformation in the internet of things, health care, smart homes, virtual reality, media, augmented reality, and more, which will create substantial business opportunities across many industries.
- Optimized Communication
Businesses cannot perform without connection and communication. With the new wave of better, faster, and stronger internet connection, we can expect to see stronger and better human connections. And with better communication, you can maintain good contact with your local customers and still stay connected with your team abroad.
Conclusion
Technological changes provide an inspiring future for business among today’s variability. With the correct governing approach, these transformations will usher in more dynamic and inclusive business growth in the future.
