Emerging Technology:

Thriving in Today’s Landscape

Remember when HAL from Space Odyssey made us all afraid of the potential evils of Artificial Intelligence? Ah, the innocence of 1968. Today, AI has transitioned into mainstream society, and the only thing we’re afraid of as business owners is not being agile enough to keep up with emerging technology.

Rapid digital transformation has many businesses struggling to keep up with the latest security, operational, and productivity solutions. And unless your technology has been updated within the last 6 to 12 months, you’re most likely operating on at least one outdated solution, putting your business behind your competitors and at risk of cyberattacks. Here are the three steps you need to take regularly to thrive in a world of rapidly emerging technologies.

Step 1: Assess — Where Are You Now vs. Where Are You Going?

If you’re like most forward-thinking businesses, your plans for thriving in the future include examining your past progress and looking for ways to improve. Besides updates, that means jumping into the future — meaning, now — and employing new technology.

Compiling a checklist of where your technology stands is a good place to start to see what solutions you should adopt. Where is your current technology holding you back and what needs improving?

To examine your current infrastructure, ask yourself a few questions regarding your goals:

Are you looking to optimise your technology?
What technology isn’t working for you anymore?
What do you need from an infrastructural standpoint to achieve your goals?

Once you’ve evaluated your pain points and the ways you’d like to improve, it’s time to examine what technology solutions you can launch to grow your business.

Step 2: Discover — What Emerging Technology Can You Adopt?

Adopting new technology is a test of how agile your business is, and it appears to pay off. Companies that use new technology in business have upped their revenue by nearly 60% according to Oracle.

Additionally, new digital tools have been shown to catapult financial returns, workforce diversity, and environmental targets by 22%, according to Deloitte.

The benefits of adopting new technology and equipment are wide in scope and include increasing productivity, improved processes and workflow, ease of remote work, and increased employee satisfaction.

Five examples of new technology solutions include:

1) AI: 75% of companies that have implemented AI fully experienced an improvement in their decision-making, according to PwC.

2) Automation: While less than 10% of jobs can be completely automated, automating various steps and processes can free up people to focus on more dynamic work, according to Forbes.

3) Cloud-Native Platforms: McKinsey reports that cloud delivers a rise in EBITDA — earnings before interest, taxes, depreciation, and amortisation — of more than 20% across all industries.

4) Decision Intelligence: Research confirms that businesses that base decisions on data, not instincts or experience, are 19 times more likely to be profitable, according to Forbes.

5) Emerging Technology: Improving your current infrastructure makes your business more secure.

Step 3: Implement — Partner with a Professional

As businesses navigate the complexities of emerging technologies, partnering with a professional service provider becomes increasingly crucial. Managed Service Providers (MSPs) offer a wide array of benefits, serving as strategic partners in the technology landscape. Here’s how partnering with an MSP can enhance your business:

Expertise and Specialisation: MSPs bring in-depth knowledge and expertise in various technological domains, ensuring that your business leverages the most suitable and advanced solutions for your specific needs.
Cost-Efficiency: By partnering with an MSP, businesses can access cutting-edge technology and services without the need for heavy upfront investments in infrastructure or hiring specialised personnel.
Proactive Monitoring and Maintenance: MSPs provide proactive monitoring and maintenance of your IT infrastructure, identifying and addressing potential issues before they escalate, thus minimising downtime and disruptions to your operations.
Scalability and Flexibility: MSPs offer scalable solutions that can adapt to your business’s evolving needs, whether you’re expanding operations, integrating new technologies, or adjusting to fluctuating market conditions.
Enhanced Security: Cybersecurity is a top priority in today’s digital landscape. MSPs employ advanced security measures and protocols to safeguard your data and systems against evolving cyber threats, ensuring compliance with regulatory requirements.
Focus on Core Business: By outsourcing IT management to an MSP, businesses can focus on their core competencies and strategic initiatives, rather than getting bogged down by day-to-day IT operations.

As a leading managed service provider, Blue Saffron is well-positioned to assist businesses in navigating the complexities of technological innovation. With our expertise in implementing and managing cutting-edge IT solutions, we help businesses assess their current technology landscape, discover relevant emerging technologies, and implement tailored strategies for digital transformation.

To learn more about how Blue Saffron can help you on your technology journey, contact us today. Our expert team is ready to assist you in making informed decisions that drive business success.

Frequently Asked Questions

What are the top 10 emerging technologies?

The top 10 emerging technologies include artificial intelligence (AI), blockchain, Internet of Things (IoT), augmented reality (AR), virtual reality (VR), 5G technology, quantum computing, robotics, biotechnology, and edge computing.

What is meant by emerging technology?

Emerging technology refers to innovations that are in the early stages of development and have the potential to significantly impact industries, societies, and economies. These technologies often introduce novel solutions to existing challenges or create entirely new opportunities.

What are the 5 characteristics of emerging technology?

The five characteristics of emerging technology include novelty (innovative and disruptive), potential for significant impact, rapid development and evolution, uncertainty (regarding adoption and implications), and interdisciplinary nature (drawing from multiple fields such as science, engineering, and design).

Which technology is booming now?

Artificial intelligence (AI) is currently booming, with applications across various industries such as healthcare, finance, manufacturing, and retail. AI technologies include machine learning, natural language processing, computer vision, and robotics.