Technologies has proved to be a force with which to deal when it comes to changing companies, business models and whole industries. But when it comes to driving real change, not all technology is created equal, particularly in highly complex and competitive industries such as healthcare, retail and manufacturing.
Essential innovations in Technologies
So which innovations are essential to revolutionary success when it comes to transforming these industries with tangible improvements? Here is what I see as the top three candidates who have earned their place as transformative powerhouses.
1–The Internet of Things (IoT)
Gartner predicts that by 2020, IoT will comprise some 20.4 billion devices. That’s a growing trend that has gained momentum since 2016, when IoT devices started their meteoric rise from just over 6 billion in 2018 to 11 billion. And with each surge in growth, the amount of data these devices collect continue to increase exponentially.
The wealth of data which IoT generates is what makes such a powerful disrupter. Healthcare, retail and manufacturing organizations can recognize a universe of data-driven insights that contribute to more informed decisions and strategies, better products and services, more efficient processes, and improved collaboration and creativity through effective data mining and analytics.
The global market for public cloud services is estimated to have risen by 17.5 per cent in 2019 to a whopping $214.3 billion — up from $182.4 billion in 2018.
Cloud helps companies to easily integrate new and more sophisticated technologies through their IT infrastructure and operations.
This means that companies such as hospitals, brick-and-mortar stores, and manufacturing plants.
They can do this while leveraging the scalability, security and easy access technologies.
Researchers estimate that over 5 billion people own and use mobile devices worldwide today — most of which are smartphones. And on the business front Mobile is just as prolific. There are 1.3 billion mobile workers around the world, which translates into overall 50 percent of the total workforce.
For example mobile provides clinicians with easy access to real-time, the bedside patient information so they can provide attentive care.
In retail, to increase customer sales and loyalty, it allows associates to provide more personalized customer care at every interaction. And in production, this ensures they can transport goods for on-time delivery through the supply chain, with real-time contact.