We’re in the Money: Which Emerging Tech Trends Can Help Your Bottom Line?

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By Richard Herrington, Franklin Synergy Bank

When you take a look at the technology of today, it’s easy to assume that the future has arrived. We have smartphones that can deliver us information in less than a second, wearable technology that can help us track our health in real-time and even virtual reality simulators that can transport us to seemingly anywhere at any time.

But with all these emerging technology trends, which ones are forecasted to help you actually increase revenue? Let’s take a look at some of 2018’s most buzzed about bottom-line boosters — and how you can best leverage them for yourself.

Smart is Here to Stay
Smartphones have been a staple for years, but other smart devices are seeing a surge in popularity for both personal and business applications. Voice-controlled “virtual assistants” connect us with the Internet of Things (IoT) by only having to speak a few words — and the first businesses have already started to incorporate them into the workplace.

Studies have shown that these IoT devices are improving performance and cutting costs in the industrial sector, and with some financial institutions already syncing up their services with virtual assistants, many other industries are sure to make moves in this smart direction.

Artificial Intelligence Yields Real Results
While big businesses have been raking in the results from data-mining for years, newer, more nuanced methods of Artificial Intelligence (AI) can benefit small and mid-sized businesses as well. Pulling information from previous search history, frequently visited websites or even upcoming life events such as a wedding or birth, AI gathers and interprets information that can be used to get your product in front of the people that would be the most interested.
And with data-gathering software able to more easily identify and piece together information in a usable way, AI can help you recognize potential customers before they even know they need your product or service, giving you an earlier advantage than ever before.

Apps Are Evolving
Apps have moved beyond being merely addictive games that people play on their phones to pass the time. With entrepreneurs creating apps to help consumers save time or increase their accessibility to services, apps have become an opportunistic gateway into previously untapped markets. And businesses owners, take note: a well-designed, user-friendly app for your business can work wonders, driving engagement and adding convenience to your customer experience.

When it comes to embracing technology, it’s clear that the time is now. You – and your bottom line – can’t afford to get left behind.

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