As a tech-savvy generation, we embrace new technologies with excitement, enjoying convenience among other benefits. However, before these technologies reach us as consumers, businesses undergo an adoption process that can seem tricky. As a CEO, I'm well aware of the resistance to change that might arise within a company. Misconceptions, perceived high costs, shifts in habitual workflows, and fear of the unknown are just a few of the reasons.
From my standpoint, forward-thinking leaders need to understand the profound benefits these technologies bring and maintain a helicopter view of their impact. In addition, hiring the right people to lead and guide change management is vital. Transformation managers listen before they speak, work with stakeholders to shape the future, build trust through honesty, and tackle difficult issues head-on. They see change as a new skill to build, not a problem to fix.
With this in mind, let's see how adopting certain technologies can address common business challenges, drive long-term growth, boost agility and efficiency.
Founder and CEO of Innovecs.
AI and Machine Learning: Precision
Let's say a healthtech company struggles with accurately diagnosing diseases due to the vast amount of patient data. By integrating AI, the company can analyze information more effectively, identifying patterns and deviations that human eyes might miss. Precise diagnoses lead to customized treatment plans, and better patient outcomes overall. At the end of the day, the company gains increased service quality, higher patient satisfaction, and reduced operational costs.
Similarly, Machine Learning can address specific issues in the same company, such as predicting patient visits to manage hospital resources. Through adopting ML, the company can analyze historical admission data to forecast future patient inflows, allowing for better resource allocation and staffing. This results in more efficient hospital operations, reduced waiting times for patients, and optimized use of medical resources.
Cloud & 'As a Service' Computing: Capacity
For instance, a gaming company faces problems with server scalability and maintenance during peak times. By adopting cloud gaming services, this company can dynamically scale its server capacity based on demand, ensuring smooth gameplay without lag or downtime.
Players stream games directly from the cloud, eliminating the need for high-end hardware. After all, this gaming business benefits from reduced IT infrastructure costs, improved player experience, and the ability to reach a broader audience.
Internet of Things: Oversight
Supply chain companies tend to have a hard time tracking shipments and managing inventory without human error. By implementing IoT solutions, this company can integrate real-time visibility into its supply chain or operations. The tech has shown its efficiency, specifically, in warehouse management. Smart sensors monitor the condition and location of goods during transit, alerting managers to any potential issues like temperature changes or delays. This real-time data allows for quick adjustments, ensuring products arrive in optimal condition and on time. In the long haul, this company wins thanks to reduced losses, improved efficiency, and better customer satisfaction.
5G: Connectivity
Picture a collabtech business where connectivity and real-time communication are challenging, especially for remote teams. With 5G technology, this company can achieve faster and more reliable connections, allowing for seamless video conferencing, instant file sharing, and real-time collaboration without lag. This advanced connectivity enhances teamwork, making virtual meetings as effective as face-to-face ones. Ultimately, this company sees improved communication, increased productivity, and more connected team members wherever they are.
And to be frank, nowadays, connectivity is the spine of any business or industry.
Cybersecurity and digital trust
According to the McKinsey Tech Trends 2024 report, digital trust is essential for managing tech and data risks, boosting innovation, and protecting assets. It's all about taking care of client data safety. Building trust in data and tech governance not only enhances performance but also strengthens client relationships. This includes technologies like digital identity, privacy-enhancing tools, blockchain, you name it.
As companies embrace new technologies like the ones I mentioned above, the need for solid cybersecurity grows. Despite hurdles like integration issues, organizational silos, and talent shortages, achieving digital trust requires strong leadership and strategic changes across the board. Implementing these changes can be challenging, but the rewards are immense.
Final thoughts
While it's quite possible to handle all these adoptions in-house, I’m positive, understanding the nuances is crucial. For implementation, a specialized team is needed, but it’s often more cost-effective to partner with an external vendor. A digital partner brings experts who understand the specific industry inside out, often having firsthand experience including from on-site visits. Also, an external partner offers flexibility and focuses on unique needs.
With a digital partner, you get certified experts, quick response times, and top-notch quality at flexible pricing. Expertise in cloud migration and infrastructure ensures smooth transitions and continuous access to critical systems and data. This approach not only keeps your systems up-to-date and compliant but also leverages specialized knowledge to drive your business forward with confidence.
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