Top 3 Small Business Technology Innovation Trends

As a busy small business owner, it’s not always easy to keep in touch with the latest technology innovations. You’ve got a business to run, and developing technology probably isn’t one of your priorities. However, new tech will always be crucial to your business’s efficiency and growth. And, together with the rapid change in technology innovation we’ve seen over the last five years, you need to be aware of the incredible new technologies emerging now and over the next few years. Essentially, if your business fails to be dynamic and responsive to change, then change may leave you stranded and wondering what happened to all your customers. So, what are the trends in technology innovation coming your way?

Technology Innovation – Artificial Intelligence

AI applications aren’t just for big business. As more products and platforms integrate innovative technology, small business owners will also include them. Innovations could include voice assistants, chatbots and personalised customer experiences. For example, Chatbots enable businesses to give customers 24/7 support. Another AI boon for small businesses is the increasing automation of processes. So, AI can drastically reduce the time spent on manual tasks such as data inputting.

5G Rollout and the Internet of Things

According to Telstra, 5G is now available to 75% of homes across Australia. We’ve heard the hype about 5G since 2019, but what does it mean for business? Well, not only is 5G lightning fast, it has virtually zero latency (or delay). This lack of lag brings the Internet of Things (IoT) closer to becoming a reality. So, welcome self-driving cars, drone deliveries and ‘smart cities’. According to a report from Ericsson, by 2027, there will be 30 billion IoT devices. Of those, 5.5 billion will be operating on mobile connections.

Software Driven Technology Innovation

We know that computer software is already the basis for many businesses. However, even product-based enterprises are shifting their product relationship from hardware to software. For instance, when Tesla launched their electric cars, they almost entirely removed the need for buttons and dials. For Tesla, product agility is software based. Likewise, apple used the same principle with their keyboardless iPhone.

Check out the latest IT services listings. In partnership with F1RST, we offer a vast range of options for IT service businesses to increase their visibility in Coffs Harbour.