New Technology in Business: 4 Inventions in 2019 That Are Changing the Game

Published on: 14 March 2019 Last Updated on: 15 July 2024

New technology has been changing business throughout history.

For instance, the invention of the printing press in the 15th Century had profound effects on the global economy and society overall. Mass production led to lower prices. Books and reading were no longer reserved for the rich and powerful.

The printing press enabled the exchange of information and reduced the class-divides that had been sustained through an uneducated, illiterate populace.

Of course, a modern-day equivalent would be the invention of the internet. But these are just 2 examples! Clearly, tech and business are often interconnected.

What are the latest inventions in tech that are influencing business around the world?

Keep reading to find out 4 pieces of game-changing new technology in business.

New Technology in Business: 4 Top Inventions:

Modern tech is changing the way business is run. Check out these 4 new inventions that are having a major impact.

1. The Internet of Things (IoT):

IoT is one of the hottest topics in tech right now.

It describes the interconnection of devices and everyday items through the internet. Think smart fridges ordering food whenever you’re running low.

Think calendars connected to self-driving cars, taking you automatically to your destination. Think kettles connected to alarm clocks, starting to boil shortly after you wake up.

The business opportunities are endless.

2. Conversation Intelligence:

Remember Wolf of Wall Street?

Jordan Belfort was a killer salesman who knew what to say to make a sale. He then took that insight and created a script for his employees to follow. Before long they were making sales with ease.

That’s the basis of conversation intelligence. You find what conversation works, then incorporate it into your sales pitch.

3. Artificial Intelligence (AI) Systems:

AI may seem like something from a dystopian future.

But it’s happening now. And the impact on business will be enormous.

Take customer markets, for example. Businesses will learn exactly what a consumer wants based on their previous decision making. Likewise, customer service can be done with a bot that can respond to customer needs and issues.

The business saves money and the consumer gets the answers they need, whenever they require it.

4. Virtual Reality (VR) and Augmented Reality (AR):

VR and AR remain in their early stages.

But their impact on business will be huge. It’s already having an effect.

Marketing is one example. Take the tourist industry.

Potential customers can walk through the hotel they’re interested in; sit in their flight seats; or explore their local neighborhood attractions…all before deciding whether to actually go.

In truth, there are immense potential opportunities for AR and VR in business.

Time to Wrap Up:

There you have it: 4 pieces of new technology in business that are changing the world.

Throughout history, technological advances have impacted business and society. From the printing press to electricity, to the internet, and so on, tech developments have profound effects on life.

Modern tech is developing at a staggering rate. Time will tell exactly how current advancements will change things. However, thanks in part to the developments we’ve discussed above, the business world is sure to be a different place in the future.

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An Introduction to Voice Over IP (VoIP)

Voice Over Internet Protocol (VoIP) is a new technology that enables users to make voice or telephone calls through a broadband connection as opposed to the traditional phone line. VoIP services can vary as some of them only allow the user to call people on the same service, but you will also find many VoIP services that allow users to call telephone numbers across the world. This technology has revolutionized the way people communicate and has been a major boost to businesses. How VoIP works? In order for the calls to be successful, VoIP uses signals through a digital network, which routes communication across the internet or intranet. A signal is received through the VoIP system then coded to conform to internet protocols. This process uses two coding standards namely Session Initiation Protocol (SIP) and H.323. The H.323 platform was developed some years ago and was purposed for video conferencing through ISDN telephone lines. It is considered outdated and requires more overhead costs, lacks modern features, and might not allow the flexibility you would enjoy with SIP. On the other hand, SIP includes an end-to-end server/client session signaling protocol, which is less complicated. Its programming is easier and it provides all the features that are required to enable VoIP communications to go through smoothly. It is a more reliable solution for voice communication. However, with the development of VoIP, there are few technical issues that have to be addressed including security, which is threatened by wiretapping and other vulnerabilities. Security may not be an issue if you are a small business with no sensitive data transferred over calls, but major players have to invest in additional features to prevent data leaking. The first step to security is ensuring a sound IP network connection. Accessibility : One of the reasons VoIP has become a major breakthrough is the fact it can be implemented much easier. You don’t need special equipment to use the service. As long as you have a PC and a webcam, you can use VoIP to communicate over calls, which include video calls. You can find different VoIP services that provide low rates and free services for client-to-client calling. The technology relies on existing infrastructure and does not demand additional costs to set up the functionality. This is the kind of technology used by Skype and other video calling services out there. Most of them have mobile apps that you can use on your smartphone to make calls for free. The VoIP trend : This is a relatively new technology that has managed to attain widespread acceptance and application. Although there’s still more improvement to come, it has been instrumental in supporting businesses and enterprises that require to make calls to clients without spending a lot. It is poised to replace the Plain Old Telephone System (POTS). To help you understand how it could be beneficial to both businesses and individuals, below are some of its advantages that you could tap into. Advantages of VoIP : VoIP was introduced to offer access to voice communication, but it has grown and you can now do video calls over the internet. It is accessible across the world and you can easily reach users at any time of the day for free or for a small fee. If you are wondering how VoIP can benefit small business owners, there are many things the technology allows businesses to enjoy. Below are some of those benefits: Save money : If you are using the old phone line, each minute you speak costs money. You pay to use the service and when you don’t have the money you cannot communicate. However, VoIP takes away this cost as you need the internet to connect with users, and international calls are free unlike in the case of a packet-switched telephone network. This allows you to make business calls without the worry of additional overhead. More than voice : Another advantage of VoIP is that since it uses an Internet Protocol (IP), the technology allows you to share other media apart from voice. You are able to share images, videos, or text along with the voice. You can easily speak as you also send files and if both of you have a webcam, you could chat over a video call. This is a good step in business that enables the transfer of data at no cost quickly. Does VoIP work when it comes to RinglessVoicemail: There are many products and software in the industry when it comes to scanning, identifying, and blocking ringless voicemails. However, the effectiveness of ringless voicemail as a form of service is dependent on the features that the VoIP offers. Not all VoIP packages will help you when it comes to ringless voicemails. Banks, financial institutions, and automobile dealerships use these. Even though they offer businesses great marketing and selling advantages, they might have certain disadvantages as well. Useful features available : Using VoIP also allows you to benefit from its features, which can improve your experience. It could support your business and make communication better. For example, depending on the software you are using, you can access extra-virtual numbers, Voicemail, Contact Lists, and Caller ID, and you are able to make calls from anywhere in the world as long as you can access the internet. The development of VoIP has come as a major breakthrough in the way people communicate. This is a technology that relies on the internet to transmit calls. It has been especially pivotal in supporting business communications as you can use the service anywhere at no cost. The service gives useful features and could be used to share media like photos and videos. Read Also : Benefits Of Using Technology To Ace Your Physics Social Media Marketing Role In Technology Virtual Reality And Gaming Technology Innovation In 2017

Is Big Data Capable Of Predicting The Next Best-Selling Book And Author: An Analysis

The applications of data in various fields are becoming more relevant than ever. From sports to music, the applications of data and technology are finding new uses, applications, and results. If you have seen the Brad Pitt baseball movie, ‘Moneyball’, you would know exactly what I am talking about. Many argue that the applications of big data cannot apply to creative fields like music or writing. However, experts who are getting big data analytics certification think otherwise. Books, people point out cannot be judged according to big data. In other words, whether a specific book will become successful is a creative function that is dependent on experience, expertise, and audience reception. Not quite so! It appears that scientists and data practitioners have come up with a method to analyze and understand whether a book can become a best-seller or not. How does the Big Data Algorithm work? In the last few years, experts like Jodie Archer and Matthew Jockers have analyzed the last 30 years of New York Times bestsellers. They have then applied scientifically and tech-developed algorithms to look at various trends, patterns, and learnings to figure out what is common in all these books. The results are striking. Bestseller-Ometer, the algorithm has data fed into it from more than 20000 books and novels. For publishers, this comes as a welcome advancement. They do not need to take a risk call on every manuscript that passes through their doors. They can easily just run the software and figure out which novel is going to work and which is not going to sell. If you are looking at percentages of success, the makers are confident of 80%! That is a huge percentage to take into consideration at any given point in time. Is this a Reality that is going to change the Publishing World forever? To be honest, the application of the data is not the first in terms of the idea. This was first assessed and put into work in the jewelry industry. Inkitt, a German-based start-up was the first to look at the various inputs and reading perceptions of the readers and come up with an algorithm that assesses what is liked and what is not. The algorithm takes into account, the following factors- What is the rate of repetition of the pages that the readers go over? How long do they dwell on a specific section? Are there any thematic points that are considered more? Where are the books purchased and read from? Once all these inputs are fed into the software, the algorithm runs its course and gives out suggestions, and shows definite patterns. The Human Factor- Can this be Completely Discounted? Both Jockers and Archer feel that even though the algorithm is great, it is not 100% thanks to the human factor. You might ask what is this factor? This factor is called the human intimacy factor. It refers to the emotional and intimate bond that forms between a book’s characters and the reader. Think about Harry Potter novels and how they have become a household name for everyone of this generation. It also means that new genres, one that has still not been discovered are subject to the human emotional connection and chance. An algorithm can only assess data that is in front of it. If there is something completely new and unique, the algorithm will not be able to give a cohesive reading of the same. In such cases, editors need to depend on their experience to understand whether the said work can be successful or not. The Bottom Line: Big data analytics is changing the creative and arts industry in a major way. As more research and developments take place, it is only a matter of time before we see more full-proof connections emerge in this industry. Read Also: YouTubNow: An Honest Review in 2021 CustomEssayOrder – Custom Writing Service Review Want an Amazing Photobook? Choose Mixbook

Can Blockchain Help In Other Ways Apart From Cryptocurrencies?

Blockchain and Cryptocurrencies go hand in hand. Whenever we think of one, the thought of another one automatically crosses our minds. Blockchain is the foundation of Cryptocurrency; it is quite known to all. But it can not be the only identity of an amazing technology like Blockchain. It has the potential to change our lives in a wider manner. We all should know about the amazing applications of Blockchain apart from Cryptocurrency. Let’s start with the definition of Blockchain. What Is Blockchain Technology? Blockchain is the main technology behind almost every Cryptocurrency. It is a system of recording information in a specific way, making it very difficult or almost impossible to hack, change, or cheat. Essentially it is a digital ledger of transactions, which is first duplicated and then distributed across the entire network of computers on the specific Blockchain network. Whenever you are trading with Bitcoin using the bitcoin revolution in a particular network, the transaction is being seen at every node of the network. Can Blockchain Help In Other Ways Apart From Cryptocurrencies? In case you are thinking or have a conception that Blockchain can only be utilized in Cryptocurrencies, you are totally wrong. Apart from Cryptocurrencies, an amusing technology such as Blockchain can be utilized in many ways. In fact, across the globe, Blockchain is being used for major tasks by a number of big organizations. Here we will discuss some of the applications of Blockchain apart from Cryptocurrency. 1. Smart Agriculture Think of a supply chain. Blockchain in agriculture is more like a supply chain. When the supply chain offers understandable applications of Blockchain, the agricultural sector can also benefit from Blockchain Technology. Let's take an example of tracking any ingredient like rice, quite literally from the farm to your plate. An RFID tag scan will work great as an initial block, along with tracking its entire life cycle, from farm to sale, and where the final product is actually ending up. 2. Smart Contracts We all are pretty much aware of the fact that Blockchain is all about trust. This is the reason why it is perfect for smart contracts. Suppose an oil company has a contract with a shipping company that the specific type of oil has to be kept below a certain temperature limit all the time, at any cost, can not exceed a particular humidity level. With the assistance of IoT devices, all these essential metrics might be easily tracked. In addition to this, Blockchain technology will make sure that smart contracts are duly fulfilled. It will also ensure that the shipment reaches its destination within a particular time. 3. Online Voting The Electronic voting system, which is Blockchain-centric, is capable of potentially accelerating voter fraud. The concept of a Blockchain-powered voting system is quite like the following points. It will capture votes using a token. Then it will be placed in a wallet of a specific candidate. As it is almost impossible to hack or cheat a Blockchain network, there will be nearly zero chance of voting fraud. 4. Refugee Aid Every year, millions of people become refugees. For most, being a refugee is not only scary but also a dangerous experience. Generally, refugees are poor and are in need of financial assistance. Keep in touch with whatever is happening in the Crypto and Blockchain industry. You might know that one of the biggest implementations and utilization of the Ethereum Blockchain ever-for-a-kind charitable cause has finished with a successful trial recently. Blockchain Can Be The Future We have got some pretty impressive applications of Blockchain apart from Cryptocurrencies. Hospitals or health sectors are also implementing and using Blockchain to keep and track patients’ records in their work system. This way, the data will be secured and transferred without delay to the right computer system whenever needed. The data of the patients will also stay secured and protected. So, next time you are thinking about Blockchain, ensure, apart from Cryptocurrency, you are considering all these marvelous applications. Read Also: 5 Benefits Of Grain Free Dog Food Tips to Follow When Ordering Alcohol Online Choosing a Quality Prep Center For Your FBA Business

New Technology in Business: 4 Inventions in 2019 That Are Changing the Game