In the year 2020, technology has played a critical role in the detection and containment of the novel coronavirus. From thermal cameras at the airports to networking applications — a high degree of reliance has been placed on technology. Although technophiles always stressed this possibility, it was the pandemic’s repercussions and requirements that made it essential.
Plus, the economic implications of the pandemic-led recession has forced businesses to adopt cost-effective approaches, and in many cases, technology is the answer. Therefore, businesses need to understand and implement solutions geared towards profit maximization through increased productivity and decreased operational costs. So, we decided to delve deeper into some of the core technological changes that are likely to take place in 2021.
Massive Technological Transformation in the Retail Segment
In 2020, retail businesses across the globe have realized one thing — embrace technology or perish. Businesses like New York & Co, Sur La Table, and Lord & Taylor collapsed because they relied on the traditional brick-and-mortar business model. While the brick-and-mortar business model is not going to be wiped out anytime soon, certain changes would be desirable such as thermal cameras, digital assets and inventory tracking, computer vision, etc…
Alongside, businesses that have been clinging on to the traditional approaches need to further advance and offer eStores through websites and apps. However, remember that in 2021, consumer behavior and expectation is going to be very different than what it was in the previous year. So, it cannot stop with offering just an e-store and must include other technologies that make search and recommendations a whole lot easier and convenient.
AI Solutions for better customer experience
Due to the current health crisis and concerns surrounding it, shopping is going to become a whole lot faster and more convenient. People no longer wish to spend time in closed shopping areas like stores and malls, nor interact with another person whom they do not know or trust. Others don’t have the time to wait and are looking for quick answers and solutions.
All of this has paved the way for the rise of solutions such as personalized recommendations, chatbots, and seamless checkout processes. Applications such as Amazon, Spotify, etc… have been using AI technologies extensively to deliver a personalized experience, particularly to their millennial customers, a segment that is rapidly increasing in number. While that created a buzz in the past few years, businesses need to advance further and explore other possibilities such as cashier-free stores, which is perfect while the world is fighting the COVID-19.
AR Glasses to go mainstream
Numerous tech giants such as Apple, Google, Microsoft, etc… are currently developing AR glasses, also known as smart glasses that are going to transform the way in which content is consumed. No more tripping while reading messages on your way to the office because these glasses would make it convenient by synchronizing with smartphones, tablets, and other devices. You can even stream videos at work without anyone else figuring out what you are up to. So, everything from how you watch movies to how examiners set rules to prevent malpractice is going to change.
Delivery Robots to make life easier
Over the past year, we have all seen essential workers risking their lives to ensure everyone has access to healthcare, groceries and anything else that is categorized as ‘essential’. While this makes it convenient for consumers, it creates many obstacles for businesses such as increased overheads, potential employee lawsuits, etc… So, delivery robots are soon going to take over the tough job of doorstep delivery.
While the past decade has been one of infectious diseases like EBOLA, SARS, and COVID-19, there’s one technology that has saved the day — robotics. In 2020, an increased number of delivery bots were seen on university campuses and airports. These are soon going to become an everyday sight along with other robotic implementations such as drones. So, businesses need to revamp their operational strategy and explore ways to incorporate robotics into it.
Robotic Process Automation
Due to the pandemic-led recession, businesses have been forced to reduce their expenditure and adopt a more sustainable business model that can survive with limited resources. This includes automating repetitive processes through software programs and applications. Although studies suggest that RPA could lead to over 230 million job losses, it is bound to happen and has in fact already begun.
At Fervimax, we help businesses optimize their internal processes through automation, which in turn reduces overheads and maximizes revenues.
Online Healthcare Services
Until now, healthcare professionals frowned at the idea of online diagnosis across several countries including the US, but the COVID-19 has transformed that. Ever since infectious diseases have limited public movement, an increasing number of medical professionals have begun offering online consultations.
These are referred to as ‘telehealth solutions’ and are offered through online platforms such as proprietary applications or other web-based communication tools. According to the Centers for Disease Control and Prevention(CDC), there has been a 50% increase in the number of telehealth consultations in the year 2020. If you are a healthcare professional struggling to embrace technology, we can help you set it up in no time.
Machine learning for Business Intelligence
Is your business making use of machine learning technologies to predict consumer behavior and demand? As more and more consumers would continue to shop online, businesses would soon find themselves competing with one another to deliver a superior customer experience. This requires tracking the user’s journey and taking actions based on that data. Doing this manually would be cost-inefficient and time-consuming. Therefore, businesses must deploy smart algorithms that can analyze customer psychology based on individual behavior.
In 2021, the implementation of the abovementioned technologies would determine the success or failure of a business. So, if you run a business that is yet to adopt any of those technologies or lacks the resources to do that, get in touch. At Fervimax, we help businesses of all sizes deploy solutions that position you for growth.