How will modern technology affect your industry?

Written By: Paresa Noble
Date: April 1, 2022

Emerging technologies are becoming more and more popular across various industries. It started with cloud computing, and it's quickly evolving into new technological horizons that the world is beginning to benefit from. With all these changes, it's natural to feel a sense of fear as more and more aspects of our work become automated. However, it's important to look at these evolutions in technology as an opportunity rather than a threat. Here are a few ways things like artificial intelligence, robotic process automation, and virtual reality are propelling industries forward.

Artificial Intelligence

Marketing

AI is becoming prominent in marketing. It can help with tasks such as customer segmentation, lead scoring, and even content creation. In fact, about 60% of businesses are already using or plan to use artificial intelligence in their marketing efforts as of last year.

Customer Service

AI in customer service has driven efficiencies for many companies. It can help with tasks such as automating customer support, providing recommendations to customers, and even identifying fraudulent behavior.

Accounting

AI in accounting is already being used by some companies to automate tasks such as Accounts Payable and Accounts Receivable. This can help to speed up the process and improve accuracy.

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Robotic Process Automation

Manufacturing

In the past, warehouse management was often a very manual process. However, with the advent of robotics process automation, this is starting to change. Robotics can now be used to manage inventory and track shipments. This has led to increased efficiency and accuracy in warehouses across the globe. Robotic process automation is becoming prominent in manufacturing and warehouse management. It can help with automating tasks such as quality control, material handling, and even production processes.

Healthcare

Robotic process automation is also becoming popular in the healthcare industry. Hospitals are using it to automate tasks such as admitting patients, dispensing medication, and even billing insurance companies. This can lead to increased efficiency and accuracy in the hospital system.

Law Firms

Law firms are beginning to use robotic process automation to automate back-office tasks such as preparing court filings, contract reviews, and data entry. This can help to improve accuracy and efficiency in the legal profession.

Virtual Reality

Training Simulations

Virtual Reality is becoming popular in training simulations. It can create incredibly realistic environments that allow employees to learn new skills without having to put themselves in any real danger. For example, telecommunication companies could use VR to train their techs to work on towers. Rather than training on the actual tower stilted 300 ft in the air, they can practice in a realistic manner without putting themselves at risk.

Operations

Virtual Reality is also being used in operations to help with tasks such as monitoring processes, detecting issues, and even training employees. An example of virtual reality in the workplace would be using it to show an employee the inside of a nuclear reactor. This would allow them to see and learn about the inner workings of the reactor without having to be in close proximity to any radiation.

Of course, not all of us work at nuclear power plants, but this example illustrates the doors that will open as we begin using these technologies. Leveraging things like virtual reality in the workplace can enable employees to go places it wouldn't be safe going in real world, even though it would dramatically improve the level of understanding for the person responsible for seeing those dangerous things through. VR can help us get a different lens into things we may not have been able to see and do things we may not have been otherwise

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The world of technology is constantly evolving, and it's important to stay ahead of the curve if you want your business to thrive. By embracing new technologies like artificial intelligence, robotic process automation, and virtual reality, you can open up new opportunities for your company that you never thought possible. Don't be afraid to experiment and see what these technologies can do for your industry. You may be surprised at just how far they can take you.

Emerging technologies are changing the way we do business, and it's important to embrace these changes. They can help us become more efficient and productive, making us better equipped to face the challenges of the future. Embrace the future, and understand that although roles and responsibilities will change, these technologies will only make our lives easier by eliminating busy work and risk, and increasing efficiencies in production. And remember, if you're ever feeling overwhelmed by all these changes, there's no shame in seeking out help from a professional. Feel free to reach out to us directly with questions on which emerging technologies will help your organization launch forward as we welcome a new digital era.

Author:
Paresa Noble
As a seasoned digital transformation, legal, and finance copywriter, Paresa has enabled businesses large and small to share their ideas and develop as thought leaders within their respective industries. Paresa's entrepreneurial agency experience has given her insights into the nuances of business development and the efficiencies that artificial intelligence and emerging technologies bring to the table.
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