Major Potential Tech Disruptors in The Business World
AI Used to Benefit Society and Businesses
With artificial intelligence (AI) continuing to grow and becoming more capable, how it impacts society continues to grow and develop too. Businesses are looking to capitalize on the potential of AI, which means they should acknowledge the impact it has. Business owners, marketers, advertisers, and the like are advised to think about AI in terms of “how parents hope to raise their children,” which is to become responsible and effective communicators. It’s up to humans to responsibly teach AI to reflect social norms like being fair, honest, and transparent.
It means that AI can’t simply be considered a tool, just like a child is much more than something a parent makes. What AI does ultimately impact people, society, and how we live our lives. That’s why it is important to teach AI, to guide it and put boundaries around it. A carefully raised AI will be able to adapt to the new needs of a business through feedback loops as well as help to scale operations. It’s like how an employee adapts to new tasks and responsibilities through continued training.
Extended Reality
Augmented reality and virtual reality have changed how people live and work. The technology eliminates the space between people, experiences, and information. Location doesn’t matter as much anymore, which is interesting given all the time that we’ve spent on space and geolocation in recent years.
Brands are already turning to the technology and setting it to task. For example, BMW now provides augmented reality tours of their models. The technology lets people get “inside” a car and experience what it would be like to drive it, without actually having to drive it. This establishes an emotional connection that can’t be achieved by any other kind of technology or marketing tactic. There is “virtually” an endless amount of applications for virtual reality with marketing.
Data Accuracy
With businesses transforming and running on data, they are left facing new types of vulnerability; mainly involving data that is inaccurate, biased, or has been manipulated. This kind of data may lead to corrupted business insights and wrong decisions. This challenge can be addressed by using a dual mandate to maximize the accuracy of data and minimize the incentives of data manipulation.
Tech-Based Legacy
Businesses are depending on technology-based partnerships to fuel growth. However, the legacy-based systems they use aren’t designed for partnerships. When a partnership is based on technology, it allows for the faster expansion of partner networks, allowing them to put into more ecosystems faster and more effectively. Outdated legacy systems are becoming a major hurdle to establishing the relationships a business needs in order to grow, innovate, and succeed.