Rapid advancements are being made in the field of technology that is bringing people into the 4th Industrial Revolution. It is said to have unprecedented societal impact, scope and velocity. Disruption as per World Economic Forums is projected in every industry all over the world. The depth and breadth of such changes is expected to transform the whole system of governance and production.
Successful business leaders will be compelled by this revolution to adapt as well as respond quickly than before. Times have become much faster than what was few centuries back. The organization is now required to proactively ad intelligently integrate appropriate and the latest technologies into workflows and management to be result oriented.
How to make investment in technologies so as to leverage the trends?
This is a question that is posed by emerging Enterprise software firms companies in Finland including those from other parts of the world.
- Internet Of Things: It is defined broadly as network of devices to speak via the web. Over 20.4 billion devices are expected to be connected by 2020 to the IoT, which means, approximately 3 devices for every person living on Earth. Most enterprise software created is for IoP (internet of people). But with things not being people, then why software created for internet of people will work for internet of things? Currently two challenges are faced by organizations as they move ahead to adopt the latest technology, so as to leverage IoT. The very first will be to maintain and manage huge number of devices and the second will be to convert data in huge amounts to business intelligence. Those companies which accept such challenges are expected to enjoy significant competitive edge over the others.
- Artificial Intelligence (AI): Many are of the opinion that AI has the biggest potential towards changing lives. According to the best Enterprise software business in Finland and other countries, every function throughout the enterprise ranging from customer support to sales and HR are likely to witness emergence of products which will successfully leverage AI to optimize and automate workflows. It is essential to identify products and companies which can use AI to solve real problems.
- Fintech: The existing financial service companies have been adapting modern technologies to overcome competition from fintech upstarts. The fintech leaders within a short span of time have built companies from the scratch worth millions of dollars. Smart fintech players can be expected to invest in AI to detect fraud, but in real time.
- Data Science: It is considered to be the discipline to use scientific tools for deriving enhanced meaning from the huge datasets. There has been experienced already data science’s ability by calling up auto customer service lines. The experts state that if companies fail to realize the significance of data science, they are not likely to survive in the near future. Education, talent and technology are considered to be the three pillars to develop data driven organizations.
The above are few of the trends that can be expected the coming year related to enterprise firms.