Modern tech is advancing at an increasingly rapid pace. Ideas that were once the stuff of science fiction are now part of our everyday lives.
In fact, emerging tech is so deeply embedded in pop culture and market trends that it has become a key driver of business success. In one survey, 85% of SMB owners said they used technology to get their businesses up and running. And according to Gartner, 89% of board directors embed digital tech in all business growth strategies.
Are you keeping up with new technologies? Well, you should.
Embracing new technologies makes your business more agile, efficient, and competitive. Granted, not all emerging tech solutions are worth your time or money. But there are those with the potential to revolutionize your business. Let’s look at five such technologies:
Generative AI
You’ve probably heard about this one; it’s been making headlines for the last year or so. It’s a new type of AI that creates text, multimedia, and even programming code from scratch. You only input simple commands and instructions, and the AI does the rest.
Technically, GenAI is not new. The tech has actually been around since the 1960s. It wasn’t until November 2022, with the launch of the ground-breaking ChatGPT, that generative AI stole the limelight.
Generative AI employs machine learning and large language models (LLM) to unlock a whole new world of possibilities, including:
- Automated workflows
- Content and media creation
- Data summarization
- Fraud detection
- Language translation
- Smart chatbots
- Software and web coding
- Virtual customer service
5G Connectivity
5G is the next generation of mobile networks. It’s so far ahead of its predecessor (4G) that it’s on a whole other level. The new network delivers 10x faster connections, 1,000x more data capacity, and 5x lower latency.
Many of us are already enjoying 5G’s blistering performance. Canada’s top carriers—Bell, Rogers, and Telus—started rolling out 5G coverage back in 2020. Today, 70% of Canadians have access to high-speed 5G network.
Faster connectivity is a huge advantage in today’s fast-paced digital world. A high-performance network is the backbone of modern business solutions such as IoT, big data, AI analytics, and workflow automation.
Mixed Reality
Mixed reality (MR) is a catch-all term for immersive computer-generated environments in which real and virtual objects interact in real time. Think a beefed-up Pokémon GO.
The idea of combining virtual and real elements started decades ago as a fun gimmick in gaming. It has since evolved into a 4-billion-dollar consumer industry, growing at a whopping 45.34% CAGR over the next five years.
Although relatively new in the mainstream market, MR has already found many uses, including:
- 3D design
- Enhanced virtual communications and interactions
- Immersive training and learning
- Real-world simulations
- Spatial computing
- Virtualization of products and prototypes
Smart Spaces
A smart space is an indoor environment equipped with a host of sensors, IoT devices, and AI processors. These collect and analyze data about the location. That data is then used to enhance the space’s efficiency, convenience, and functionality to better suit its occupants.
Any enclosed area—office, hospital ward, or conference room—can be turned into a smart space. Creating smart spaces in the workplace results in:
- Enhanced safety and security
- Better employee experience
- Improved office productivity
- Optimized energy usage
Digital Twins
A digital twin is a virtual copy of a real-life object or environment. The twin is programmed to mimic the behaviour and characteristics of its real-world counterpart.
Digital twins are mostly used to simulate and test new designs in the manufacturing, aerospace, automotive, and construction industries. They are also useful in modelling and studying markets, workflows, and supply chains in business. Another growing application is in healthcare, particularly in pharmaceutical development and patient prognosis.
Leverage the Latest Tech with Highway 99
Don’t get left behind. Keep up with the latest tech to sharpen your competitive edge, build agility, and streamline your business operations. We understand that choosing and implementing the right tech can be tricky. And with so much at stake, you can’t afford any mistakes.
But don’t worry; Highway 99 Technology Solutions Inc. is here to help.
Partner with us for expert guidance in planning and deploying valuable IT investments. Our team of IT professionals will help you choose and run the latest technologies while minding cost, performance, efficiency, and business growth.
Let’s talk; reach out today for a free consultation.
Featured image credit: Image by Racool_studio on Freepik
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