Each decade brings with it the forces that change business, and this one is no exception. We are currently in the midst of such a fast-moving shift within the business world, particularly when it comes to technology, that it can be hard to stay abreast of all the changes. But as more tech forces prove to be disruptive to the idea of business as usual, it pays to stay on top of these changes and even anticipate them if you can.
Forbes Magazine recently took a look at several major changes that technology has brought into the business world that have proven to be disruptors in the true sense of the word. From high tech developments that allow manufacturers to pinpoint anchor analysis for fine tuned processing to online development of shared research for new cures in the medical world, technology and the web is disrupting business all around us. The question is, how do we use this for the best results and stay ahead of the wave?
The changes that technology and specifically the web have brought to finance are just beginning to become obvious. While some things such as the reduction in the use of tellers and development of online banking should have been obvious, we have been slow to acknowledge them. Where the bank teller used to be someone you felt you knew, and saw every week on payday, today we seldom interact with our banks in person. Online banking, direct deposit and online bill paying has all made checks, in person banking and even bill paying superfluous.
Now we are seeing more changes as online financial advice becomes more sophisticated. The replacement of financial advisors and analysts with big data driven websites are being seen as the next big disruption in banking. Business will also see major shifts as mobile banking and shopping gain acceptance. New ways to interact with customers may mean an even bigger shift away from traditional brick and mortar stores and a development of app based marketing techniques that reach out using big data to define our needs before we even know we have them.
The Consumerism of Space
With plans already announced to return to the moon, this time as a business venture, expect to see more space plans in place for the next decade. Costs have gone down dramatically when it comes to space exploration, including the cost of putting a private satellite up for a number of uses.
As these eyes in the sky get smaller and more sophisticated, we can expect business to find all types of uses for them. Everyone from real estate firms to oil companies will be able to make good use of satellite imagery of any part of the earth, in high detail and easy to access. It may not be Star Trek type exploration of the greater reaches of the galaxy, but it will be commerce guiding the move to outer space.
Entertaining a High
While these tech arenas are obvious, one other place that tech will continue to have a big disruptive affect is in entertainment. We have already seen the shift from movie theatres to home theatre and more is yet to come. At the same time, immersive technology such as VR (virtual reality) will soon move from the stuff of science fiction to something we have in our living rooms.
While all this tech is happening in front of us, behind the scenes pot growing is getting more sophisticated and legal in more and more states. There is no cash crop that is more intensive or well researched then marijuana, so expect to see big shifts in tech as this becomes legal across the board.