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Home Business 7 Small Business Technology Trends for 2021

7 Small Business Technology Trends for 2021

Indeed, technology is here, and it is here to stay. In fact, it is gradually changing the way people live, communicate and do business. While most people use it as a form of communication (social media platforms, messaging apps), others leverage technology for business growth (eCommerce websites). For entrepreneurs, discovering small business technology trends is essential to improve productivity, raise brand awareness, and eventually, increase overall business sales. 

Discover the latest trends in information technology and see how you can use them for business success. 

  1. Artificial Intelligence (AI) and machine learning

According to a study, it is best to reply to any enquiry within the first five minutes. To provide prompt response and generate more leads, businesses will still continue to leverage Al for personalised customer experience. Indeed, Al is now turning into a major business disruptor. Given its ability to automate business processes, Al helps improve operational efficiency reducing common human errors.

With Al, businesses can benefit from customer segmentation, click tracking, re-targeting, push notifications and so much more.

  1. 5G Network 

Compared to 4G, 5G network is a cellular network technology providing wider coverage, bigger data bandwidth, faster downloading time and lower latency. Powered by IoT sensors, 5G network can help businesses optimize their workflows by automating processes. Furthermore, 5G provides tracking devices for deliveries, helps operate CCTV cameras and utilise a motion detector in physical stores during wee hours.

  1. Chatbots and Virtual Assistants

In today’s digital era, customers demand to get what they want the fastest way possible. Hence, the existence of chatbots and virtual assistants. Chatbot technology is becoming more and more popular and is being implemented by most companies worldwide. By managing customer services 24/7 and answering prospect clients’ questions immediately, chatbots and virtual assistants help improve productivity and increase sales.

  1. Augmented Reality

Most people believe in something once they’ve tried the product themselves. But how do you think can prospective customers try on your products without them making a purchase? Fortunately, Augmented Reality (AR) now exists. This technological advancement enables customers to use an item in a real setting to see how it looks before they actually commit to a purchase. By utilising Augmented Reality (AR), businesses can eliminate the risks often associated with eCommerce.  

  1. Edge Computing

While cloud-computing provides users with multiple capabilities such as allowing them to access and store data on cloud, it also comes with numerous, unavoidable risks. With this, more and more companies are now leveraging the use of edge computing. This technology brought content and data closer to the place where it’s actually needed. Thus, improving response times and reducing the use of data bandwidth.

  1. Cybersecurity

With technology growing, expanding and upgrading each day comes the rise in cybersecurity threats. Unfortunately, cybercriminals have found ways to develop advanced, more efficient techniques to make successful cyberattacks. Most popular cybersecurity threats worldwide include phishing, IoT attacks, ransomware and crypto-physical attacks. It’s safe to say that data breaches are rapidly increasing.

To protect confidential company data against these risks, businesses should consider investing in cybersecurity.

  1.   Social Payments

No doubt, online shopping is now on the rise. With that said, the best thing to do is to provide clients with social payments allowing them to make transactions without trading cash. Fortunately, most companies are now integrating these powerful payment systems.

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