Advancing technology is defining the future

business environment

The future depends on what you do today - Mahatma Gandhi

With this fast-developing lifestyle and advancements happening with each passing day,
anything and everything in the world, including the modern business environment has an
opportunity to scale this upward growth trend. It is completely on us now, how and when we
tap into the right resources and put them to best use. Undoubtedly, technology is here to
change the world and the only question here is about leveraging it sooner or later.
Fortunately, technology and tools can be that catalyst for embracing growth in geometric
progressions. Tapping into the appropriate tools can foster growth in ways we could not have
even imagined.

Everything that exists in the world today from the invention of the wheel to Artificial
intelligence what first a thought. Eventually, through multiple trials and errors and investment
of time, people, money it got manifested into things we use today. How much ever time and
money it takes, the biggest beneficiary here is us, the world. Hence, we cannot
underestimate the power of the human mind and the things it is capable of creating from
driverless cars to growing multi-million dollar empires. What is not possible!

Technology And Future of Human work

For the last few years, one thing that has repeatedly risen above all else in technology is the
power of automation. The tools to create automation systems are being created every single
day to make the business processes swift. However, especially in an Indian business set up
there is one big flaw. If changed, the world will surely see Indian-originated businesses
making a huge place in the world business environment. A country that stems from a highly
rich cultural heritage where there is innovation and change in every corner. Not one state
has the same food, language, tradition, culture, lifestyle, or even clothing. With so much
diversity in every nook and corner of the country - its impact on the world business plane
should proportionately be higher. Yet, even after so many advancements in science, in
business, in lifestyle, the majority of businesses see people as a greater resource than tools
& technology. Yes, the human mind is the origin or creation, but exponential growth can only
and only be achieved by getting the right technology in place.

The entire world today is exploiting technology to its best use. For instance, a traditional
South Indian filter coffee is considered to be one of the best in the world yet for years
together it needs a physical person to be there, put in those man-hours to produce it. Around
the same time, somewhere in the US a few people saw this as an opportunity, seized the
needed technology, tools and gave us something through which the world knows coffee
today. Something that can deliver within minutes without human intervention. That is what
we all call ‘Starbucks’ today. It has not only brought uniformity of delivery but also removed
the geographical barrier of staying stuck to a particular location. Humans can’t be
everywhere, but human-made tools can be. With the investment in time, intelligence, money,
and technology a man-made tool once created can be replicated, reproduced, and be made
available to millions. South Indian filter coffee can be very famous across India, but today
Starbucks is the largest coffeehouse with about 32,000 retail outlets across the world.
Someone put technology above human capacity and that made all the difference. Just a
small shift can bring in limitless possibilities and make the future business world far more
efficient.

Shaping The Business Environment

The so-called business giants like Elon Musk and Jack Ma stress so much on artificial
intelligence shaping the future of the technology and in turn, the way business is done. In not
only designing products, boosting productivity but also contributing to how they are to be
procured and produced better. For example, the drug and medical markets solely rely on trial
and error, with AI in place, it will drastically refine the cycle time to bring newer products to
the market. Data and analytics will foster decision-making in real-time. Moreover, it is
forecasted that the integration of AI in the manufacturing sector will drop waste by at least 50
percent and enhance efficiency. This is here to impact and shape the business environment
irrespective of whether you’re running a multinational organisation or a start-up.

Forward - From here on

It’s evident that these developments in technology show no signs of stopping, and are here
to have a phenomenal influence in the years to come. The next-gen entrepreneurs and
business owners will truly be living and operating in these emerging trends and undoubtedly
would be the change-maker.

Just like the new waves of Covid-19, businesses are forced to soak and ride through in the
wave of technology. While discovering the new normal, these technological shifts can have a
remarkable impact if leveraged in these early days. Not only will it help adapt to this new
world but also accelerate growth and help you stay on top of the industry both now and in
the future.