If there’s a universal truth, it’s that things are constantly changing. Companies used to approach new technology with a reactive state of mind. They could adopt tech trends that were widely available and still be competitive. But times have changed. Now, to give themselves an advantage, companies must recognize emerging trends early and understand how they can lead to business innovation.
Identifying technology trends comes down to staying in the know. Decision makers can see what thought leaders are focusing on by reading original industry research reports and following top publications and influencers. Pay attention to what keynote speakers are discussing at conferences as they are always focused on the future. Hold meetings to learn what other employees are learning about.Customers can also offer insights into what’s missing from your product and what they need from it. This can lead businesses to develop robust roadmaps and seek out emerging tech that will help them get there.
Implementing the right solutions comes down to knowing which parts of a business need tech to facilitate progress. By analyzing daily, weekly, and monthly routines, and seeing how they align with business key performance indicators (KPIs), weaknesses can be identified. Leaders can find suitable technology that will solve problems, speed up project delivery, and lower costs.
Competition in the Middle East is heating up, especially as more SMEs look to advance their technology. The use of cloud-based solutions is dominating investments in the region and is expected to reach $18.07 billion by 2025.Companies using on-premise legacy systems can introduce cutting-edge cloud technology to integrate business processes across multiple systems with an integration platform-as-a-service (iPaaS) solution to open up business possibilities. With the cloud, data is available in real-time, workflows are streamlined, and time-consuming processes are automated, leading to more productivity for less cost.
By the end of 2024, there will be 30 million subscriptions for 5G in the Middle East and Africa. At manufacturing plants, 5G can run private local area networks, increasing network performance and stability. 5G’s infrastructure lets businesses process higher data volumes and use mobile devices to run apps previously dependent on cable connectivity seamlessly.
5G will impact the Internet of Things (IoT) by removing the current lag time of information exchange even with the expanding number of connected devices. Logistics can rely on IoT tracking sensors, transforming end-to-end operations. Retail can use 5G for innovative customer engagement and omnichannel practices.
Artificial intelligence (AI) can perform critical actions in milliseconds, alerting companies to system anomalies and security threats or analyzing trends financial institutions use to manage risk. AI boosts productivity by eliminating tedious tasks so employees can focus on applying insights to business goals.Arabian Business: How big will 5G be in the MIddle East, 2019
Although decision makers are always looking for ways to boost the company’s bottom line, adding new technology can be met with resistance because of the initial costs. However, by providing objective facts based on identifying areas that need improvement and examining the underlying factors that cause inefficiency, leaders will be more likely to hear solutions.
Show executives concrete proof of the technology’s benefits by using case studies and research. With an unbiased explanation of how augmented reality could enhance the customer experience and solve issues in a fraction of the time, proving how it helps the company save time and money is much easier.A tech leader’s role is to stay keenly aware of upcoming trends and bring the future into a company’s present. Being able to differentiate a fad from potential game-changing technology will make you an invaluable team member and give you the ear of the right executive.