Think of what has happened in the past 100 years.The World has recovered from two major wars. Computers broke onto the scene. Man landed on the moon. Electricity began to power cars. Virtual Reality is an actual thing. A new development leaps forward each and every single day – you need only peruse the listings of a site like Kickstarter or Indiegogo to see what ingenious solutions people are coming up with, every second of the day.
This isn’t just something that’s just occurring, though. There are scientific principles behind the advancing power of technology. Head honchos of computing power – Intel – have an area of their site specifically dedicated to this principle – Moore’s Law, named after their founder, Gordon Moore:
“In 1965, Gordon Moore made a prediction that would set the pace for our modern digital revolution. From careful observation of an emerging trend, Moore extrapolated that computing would dramatically increase in power, and decrease in relative cost, at an exponential pace.”
Investopedia present a breakdown of the law here:
“The extension of Moore’s law is that computers, machines that run on computers, and computing power all become smaller and faster with time, as transistors on integrated circuits become more efficient. Transistors are simple electronic on/off switches embedded in microchips, processors, and tiny electrical circuits. The faster chips process electrical signals, the more effective a computer becomes.”
To break it down, technology becomes better over time. It almost doubles in power every decade. To the personal user, that’s great – but to a business owner, it opens up an amazing world of possibilities. You don’t need to own a time machine to access these opportunities as well…
The world of business is changing. There are geniuses at the forefront of the business world feeding on the wants and needs of people across the globe. The surging need for instant gratification is being filled by Amazon and its Prime Now service , which allows you to receive select goods within an hour of ordering. Amazon will shortly begin to use drones to deliver goods, but right now – drones need expert pilots to fly properly and professional (most drones can fly solo, but only from A-B without detecting obstacles). Skydio is developing self-piloting drones that use a camera to pilot the drone. It’s a scary new horizon, but can you see how these developments are linked? It’s almost a true collaboration! Amazon need drones to drop goods off, Skydio’s developments will make them far more efficient at that goal.
Another futuristic concept is that of Bitcoin. Up to 2014, there were a recorded 31 million transactions made by the digital currency. Bitcoin has many purposes and isn’t just a currency option, it has a number of benefits that are starting to outweigh physical cash – it’s instantaneous, it’s cheap, your information can’t be stolen from the merchants you transact with. Bitcoin can’t suffer from inflation, as there are only a finite number of coins and it can’t be seized by the Government which fulfills the original Libertarian agenda of PayPal .Image source Flickr
Thus far, we’ve got drones, artificial intelligence, and digital currency. It might not seem that appealing right now to bring the future into your business, but there’s a lot more assets stemming from technological developments that go a tiny bit more ‘under the radar’ than flashy drones.
The cloud is probably the biggest single development thus far. The cloud is a bracket term that refers to the transfer of data ‘over our heads’, but more specifically, it’s internet and web-based computing. Businesses and personal users can struggle with physical storage due to it’s cost and weight. CD-ROM’s and external hard drives have their uses, but they can pile up quickly. Cloud computing offers a complement or replacement to physical storage.
Companies like Google are leading the cloud computing revolution and can offer you and your business a single profile across multiple services like storage, email, and web browsing. Cloud computing allows you to backup data and files to the internet for remote storage, but you can access your files from anywhere in the world to work on them. The cloud doesn’t just exist to hold your files, though; wireless payment is revolutionizing the way you pay for goods and collect money. NFC or near field communication is something you can access on new payment collection devices to accept cash from bank accounts stored on mobile phones. Not only that, but it can accept payment from PayPal and Bitcoin accounts.
3D printing also brings a true evolution to physical work. Depending on your business , there is a lot that 3D printers can bring to you, especially if you’re a design based startup. Say that you’re an Architecture firm. There’s no need to resort to pen and paper to deliver your concepts. You can use 3D modelling tools on a professional tablet like the Surface or iPad Pro to design a concept and then use a 3D printed model printed by the Zortrax ECOSYSTEM to secure the contract. You can pass around a small, physical version of your design to hammer the point home. That’s true innovation.Image source Flickr
Robots are another development that can revolutionize your business. Again, it depends on what your services are, but robots can assist in many day-to-day tasks. If we go back to drones, robots can take control of delivering your goods. If we go to a warehouse, robotics can pack your goods ready for shipping. If your storefront is organized well, it’s theoretically possible for robots to select goods for your customers and bring them to the cash register.
While there is a lot that innovations and developments can do for your life and your business, it’s always the human aspect that will be in charge. There are plenty of options out there for you, as a business owner, to take advantage of. If you choose not to use them, they need not exist, but there are plenty of benefits in using new technology to achieve your business goals.
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