As technology continues to advance, it can be challenging to keep up. We’ve done some digging and gathered up our top 8 technology trends of 2020 for small businesses!
- AI as a service
- We’re all familiar with Software as a Service (SaaS) and Platform as a Service (PaaS) or cloud infrastructure. We’re now seeing the emergence of AI as a Service. Artificial Intelligence has great potential to drive business outcomes. AI requires sophisticated algorithms and development to produce data that meets the needs of the business. Typical small businesses can’t afford to staff data scientists to develop domain knowledge and build in-house solutions. AI as a Service can be utilized by small businesses to address specific needs of the company using strategic, actionable data.
- Blockchain is most widely known as the record-keeping technology behind the Bitcoin network. Blockchain is comprised of “blocks” of data. These “blocks” are created when transactions occur and store information about those transactions such as data, time, amount, etc. The use of blockchain allows businesses to manage their supply chain better. Blockchain provides for better supplier transparency, real-time updates to documents, the elimination of invoices and billing statements, and much more.
- 5G wireless network has been referred to as the future of communication. 5G networks create faster and more reliable connections and lower latency connections allowing businesses to connect with customers quicker, get more information to customers, and engage their customer base.
- More and more businesses are seeing their customer base push for mobility. Websites need to be mobile-friendly. Customers want to be able to go to an app and make purchases and pay bills or communicate with the business. The lean toward mobility isn’t going anywhere in 2020. Customers’ demand for online payment and purchasing is only going to increase as will the desire to pay via phone in-store. Pulling out a wallet is the thing of the past when you can pull up an app and pay directly from a linked bank account or gift card (think Starbucks). With the increase in mobile solutions, comes a higher demand for mobile marketing. Customers are now googling a product directly from the aisle and reading reviews online or about the competition. Consumers are looking for a complete mobile experience. These are all things that small businesses need to be aware of and address in 2020.
- More and more small businesses are using marketing & eCommerce automation, business process automation, and communication & inventory management automation. Over the last five years, this type of automation has become more accessible and more cost-effective for small to medium-sized businesses. Automation allows small companies to meet higher demand, reduce costs, and optimize their operation.
- Social Media
- Social Media is a means of customer connection and engagement that is only going to grow over time. With the emergence of social media platforms such as Tik Tok and Whatsapp, consumers are looking to engage even further with brands and companies via Social Media platforms. As small businesses consider what technology to invest in 2020, it must be understood that connecting with your consumer base via Social Media in a genuine and engaging way should be at the top of the list of priorities.
- Outsourced managed IT services
- Most small businesses can only afford to staff a limited IT team. The use of managed IT services supplements existing staffing and allows businesses to receive top-quality IT services at a much more affordable cost. As technology continues to progress and cybercriminals continue to evolve, a small business can’t keep up. New threats lurk around every corner. Technology continually changes, and adapting to or adopting this technology is costly and confusing. The use of outsourced managed IT services allows a small business to protect their infrastructure better and to keep up with changing tech.
- Unreliable, expensive phone systems are a thing of the past. Traditional landline phones rely on old and outdated copper lines or fiber buried underground. Both of these options are susceptible to the elements, not to mention, extremely costly. VoIP solutions allow small businesses to take their phone system to the cloud. These systems reduce costs, are more secure, and more reliable than traditional phone systems.
Interested in any of these technology trends?! Have questions?! We’re happy to help! Give us a call today!