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.

Want more content like this? Click here to check out all of our tech-related articles!

Read Also:

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

View all posts

Tekmetric: Auto Repair Software and So Much More

Most people who get involved in the auto repair business are not there because they love business management. They are there because they are passionate about cars, learning about them, maintaining them and fixing them. But these days, an auto shop can only get so far with good mechanics. Customers come expecting great service, organization, and communication. They want the same customer care at the auto shop as they receive at other businesses. The Need for Something New: Up until now, for an auto shop to stay up-to-date, it needed to purchase new software for each part of the business. Written customer orders and inventory logs were replaced by management software. Labor and parts books were replaced by online labor guides. As expectations for constant communication increased, shops had to invest in instant messaging services. In early 2018, two auto shop owners, Sunil Patel and Prasanth Chilukuri, released Tekmetric as an all-in-one auto repair software solution. At a base level, Tekmetric is auto repair software, but it is much more. It is auto shop management software that covers all the current needs of a modern auto shop business. Tekmetric Helps Customers: Customers often come into an auto shop feeling vulnerable. When something is wrong with your car and you are not an expert, repairs are a great unknown. You do not know how much they will cost, and you do not know how long they will take, nor do you know what is reasonable. Tekmetric allows the auto shop to produce an estimate quickly. It is already linked to standardized labor rates and parts costs, so customers know that the estimate is fair. In addition, thanks to the messaging component in Tekmetric, customers can receive real-time information about the progress of the repair. Tekmetric Helps Mechanics: A good deal of time in an auto shop can be lost when mechanics must do jobs other than being mechanics. Tekmetric includes features like digital inventory management which can bring an end to hunting for parts or manual counts of inventory. The software also includes the ability to create standard job packages. For example, if a shop bundles together oil changes with several other services, all the parts and labor can be stored as one task with a single price point, streamlining the path from a customer’s order to a mechanic’s work. Tekmetric Helps Managers: Tekmetric is auto repair software that helps owners and managers, whether they are working with a single shop or several. One of its most important features is a workflow management platform. With a glance at a screen, managers can see which jobs have been ordered and which jobs are underway. They can see the profiles of all available employees and assign them to jobs. Another important feature from Tekmetric is the ability to produce paperless estimates, invoices, and authorizations. By operating through a single, digital platform, managers, mechanics, and customers will all be on the same page. More Than Auto Repair Software: Since it is designed specifically for auto repair shops, Tekmetric represents something new in management software. Like all business management software, it is meant to make things run more smoothly, saving time and money for the business owner. But for auto shops, Tekmetric does something more important. It allows managers and mechanics to spend less time on management tasks and more time doing what got them in the auto shop in the first place, working with cars. Read Also: Top 10 Signs You Might Need Auto Repair Services 8 Reasons Why Your Company Should Get A Vendor Management Software

Effective Strategies For Managing Peak Call Volumes In Inbound Call Centers

In the fast-paced and dynamic world of Business Process Outsourcing (BPO), managing peak call volumes in inbound call centers is a critical challenge. Peak call volumes can arise due to various factors, such as seasonal fluctuations, marketing campaigns, or unforeseen events. To ensure seamless customer service and maintain operational efficiency during these high-demand periods, BPOs must adopt effective strategies. In this article, we will explore non-promotional approaches to address the challenges associated with managing peak call volumes. Data-Driven Forecasting and Planning One of the key pillars of effective call volume management is accurate forecasting. BPOs should leverage historical data and advanced analytics tools to predict peak call times accurately. By identifying patterns and trends, BPOs can proactively allocate resources, adjust staffing levels, and streamline operations to meet the expected surge in call volumes. Implementing a data-driven forecasting model enhances the overall responsiveness of the call center, minimizing the risk of being overwhelmed during peak periods. Flexible Workforce Management Creating a flexible workforce is essential for managing peak call volumes. BPOs can implement strategies such as cross-training agents on multiple skill sets, enabling them to handle a variety of inquiries during high-demand periods. Additionally, adopting a flexible scheduling system that allows for real-time adjustments based on call volume fluctuations empowers call centers to efficiently manage resources. This approach ensures that staffing levels align with demand, preventing overburdened agents and long customer wait times. Technology Integration for Efficiency Embracing cutting-edge technologies can significantly enhance the efficiency of inbound call centers during peak periods. Implementing Interactive Voice Response (IVR) systems, chatbots, and virtual assistants can help address routine inquiries, freeing up human agents to focus on more complex customer issues. Furthermore, cloud-based solutions enable scalability, allowing BPOs to quickly adapt to changing call volumes without the need for extensive infrastructure investments. Empowering Self-Service Options Encouraging customers to utilize self-service options can alleviate the pressure on inbound call centers during peak times. Providing easily accessible FAQs, online knowledge bases, and tutorials empowers customers to find answers to common queries independently. By promoting self-service options, BPOs not only enhance the overall customer experience but also reduce the influx of routine inquiries, enabling agents to focus on more intricate customer interactions. Real-Time Monitoring and Adjustments Real-time monitoring is crucial for managing peak call volumes effectively. BPOs should invest in monitoring tools that provide insights into call queue lengths, average wait times, and agent performance. With this data at their fingertips, call center managers can make informed decisions and implement on-the-fly adjustments to ensure optimal service levels. Constant vigilance and adaptability are key components of successfully navigating peak call volume scenarios. Conclusion In the ever-evolving landscape of BPOs, managing peak call volumes is a critical aspect of delivering exceptional customer service. By employing data-driven forecasting, fostering a flexible workforce, integrating technology for efficiency, promoting self-service options, and implementing real-time monitoring, BPOs can navigate high-demand periods seamlessly. These non-promotional strategies focus on improving operational resilience and customer satisfaction, ultimately contributing to the long-term success of inbound call centers in the BPO industry. Read Also: Top 4 Creative Team Building Ideas for a Call Center Industry This 2020 Cloud-Based Call Centers Vs. On-Premises Call Centers Why Your Business Needs Call Center Tracking

Advancing Search and Rescue Missions with Aerial Innovations

The realm of search and rescue missions is witnessing unprecedented advancements thanks to aerial innovations. These technologies, like drones for search & rescue, are redefining the capabilities of emergency response teams, enabling them to conduct operations more effectively and safely than ever before. This article explores how these aerial innovations are transforming the search and rescue domain, enhancing missions' efficiency, speed, and success rates across challenging environments. Enhancing Real-Time Situational Awareness Aerial innovations have improved real-time situational awareness during search and rescue operations. Drones with high-resolution cameras and thermal imaging can cover expansive areas quickly, providing live feeds to the command center. This immediate access to visual information allows rescue teams to assess situations accurately and make informed decisions swiftly. The ability to survey disaster-stricken or hard-to-reach areas from the air has significantly reduced the time it takes to locate victims, evaluate risks, and strategize interventions, ultimately saving lives and optimizing resource deployment. Utilizing AI and machine learning (ML) algorithms enhances the analysis of the data collected, helping in the identification of patterns and anomalies that human operators might miss, further increasing the effectiveness of search and rescue missions. Precision In Search Operations The precision offered by aerial technologies in search operations is unparalleled. Drones, for instance, can navigate through narrow spaces and harsh terrains, areas where human teams or traditional machinery might struggle or face risks. Equipped with advanced sensors, these aerial devices can detect heat signatures or movement, aiding in identifying survivors in dense forests, collapsed structures, or avalanche sites. This precision not only enhances the chances of finding and rescuing individuals but also minimizes the exposure of rescue personnel to potential dangers. Drones can drastically improve the outcomes of search operations by pinpointing the exact locations of victims, reducing the time required for rescue, and significantly lowering the risk of further casualties. Rapid Deployment And Scalability Aerial innovations enable rapid deployment and scalability in search and rescue missions. Unlike crewed aircraft or ground teams, drones can be launched quickly and in multiple numbers, allowing for simultaneous coverage of vast areas. This scalability is crucial in the critical first hours following an emergency when the likelihood of saving lives is highest. The ability to deploy numerous drones at once or in response to evolving situations ensures that search and rescue operations can adapt dynamically to the demands of the mission, covering more ground in less time. The agility and adaptability of drones make them an indispensable asset in the arsenal of search and rescue teams, enabling a more responsive and wide-reaching approach to emergencies. Cost-Effectiveness And Resource Efficiency Adopting aerial innovations in search and rescue missions introduces cost-effectiveness and resource efficiency. Operating drones or crewless aerial vehicles (UAVs) for surveillance and search efforts is significantly cheaper than deploying helicopters or large teams of ground personnel. The reduced need for expensive crewed aircraft and the ability to conduct thorough searches with fewer resources means that emergency response units can allocate their budgets more effectively, enhancing their overall capacity to respond to disasters without compromising the quality of search and rescue efforts. This economic advantage allows for more frequent and extensive training exercises, ensuring teams are well-prepared, and resources are readily available when real-life situations arise. Improving Safety For Rescue Teams One of the paramount benefits of aerial innovations is the improved safety they offer to rescue teams. By utilizing drones and other aerial technologies, rescuers can conduct preliminary assessments of unstable structures, flood zones, or wildfire-affected areas without directly exposing themselves to these hazardous conditions. This precautionary measure ensures that rescue operations are conducted with a clear understanding of the risks involved, allowing teams to approach situations with the necessary caution and planning. Moreover, by taking on tasks that would otherwise put human lives in danger, drones significantly reduce the risk of injury or fatality among rescue personnel. The deployment of drones in the initial stages of a mission can help determine the best course of action. In doing so, it ensures that when human responders enter the scene, they do so with maximum preparation and minimum risk. Which Drones Are The Best For Search And Rescue? When it comes to search and rescue, aerial surveillance can be done well with the right kind of drones. Just getting any type of drone doesn't help. Rescue missions are operated better with drones equipped with thermal cameras. If thermal cameras are the best, you needed For identifying and searching for a missing person, thermal drones use heat signatures for thermal imaging of an individual. The human body is a source of heat. The thermal imaging technology equipped with the drone cameras detects the heat signatures that the naked eye cannot. The best drones have infrared sensors, making those temperatures visible through the remote screen. It takes quick surveillance to find missing individuals during a disaster like a fire or plane crash. Drones can easily track and find a missing person thanks to the heat signature detection features. Especially during the early morning and at night, the infrared sensor of a drone is useful. The temperature of any human being or animal will be more than rocks, vegetation, and water. So, it helps detect a missing person. Thermal drones cannot see through objects. But, it makes it easy to detect a missing person when their heat signature is visible. A Technical Perspective on How Drones are Used for Search & Rescue 1. Easy Detection A search and rescue mission can involve various types of scenarios and difficult situations. If, for instance, when a rescue party is looking for someone stuck on one side of a cliff, the drone helps a lot. It gives the users a global perspective with real-time monitoring. The person handling the drone can see the movement and the position of the person they are trying to rescue. 2. Aerial Drones are Easy to Carry Also, teams that have to hike to a specific height are at an advantage, with the drone making the ways and navigation easier for them. Hiking parties can carry the drone in their backpacks or small cases. This makes these drones portable and easy to carry. It doesn't feel like an excessive burden. 3. Easy Detection And Remote Controlling According to the technical grid perspective, the process is mostly about collecting drone footage. It can also be used to employ the acquired data effectively. After the drones are deployed, the users can utilize the remote control to make it fly back and forth. This facilitates a comprehensive coverage of the landscape. This way, no necessary information is missed, and the rescue operation is carried out properly. 4. Streaming Rescue Footage Technically, the rescue team member is supposed to stay in a vehicle close by. They use HDMI and project the drone's visuals to another large screen for the cloud. This way, the rescue team can livestream the rescue mission, telecast it, or send it to a command center for observation. The command center and the rescue team can make decisions based on the live streams. Conclusion The advancement of aerial innovations, as exemplified by technologies like drones for search & rescue, is revolutionizing the emergency response field. These technologies improve the practicality and effectiveness of search and rescue missions and redefine the approach toward saving lives in critical situations. With the ability to offer real-time situational awareness, precision in search operations, rapid deployment, cost-effectiveness, and improved safety for rescue teams, aerial innovations are setting new standards in the rescue domain. As these technologies evolve and integrate with search and rescue operations, the future promises even more successful missions, ensuring that the response is swift, strategic, and safe when disaster strikes. Read More: How Pests Control Maintains The Aesthetic Appeal Of Your Home The Impact Of Automation On Payroll And Compliance 6 Law Fields With High Demand In 2024

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