Modern Technology Revolutionizing Global Businesses
Technology has advanced a lot in the last few decades. There have been numerous groundbreaking advancements that have revolutionized the way things are done. The internet is now an important part of any business. No brand can do business without being on the internet.
Technology has made rapid advancement during the last few decades. Software, big data analysis, fiber optics, drones, image recognition, artificial intelligence e.g., now have a big role to play in growth of different industrial sectors. Internet has become an inseparable part of every industrial sector thus inventing new ways of doing smart businesses globally.
For instance, Banks and other major organizations are using big data to understand consumer behavior to serve customers better. Shopping trends are now predictable, and retailers can make better recommendations to customers based on these trends. Research has been made better through big data, and millions of data can be searched or sifted in mere seconds. Patterns are now found in the most bizarre things, and lots of companies are using these patterns to make predictions. Adverts now target customers more effectively.
In other example, in the oil and gas sector, drones are used to monitor the environmental impact of various installations. Mining companies now use drones to survey mining operations and make better measurements. In the construction industry, drones are used to gauge topography, monitor construction progress and carry out ground surveying.
Image recognition is helping industrial sectors to advance in numerous ways. Industries now use image recognition for facial recognition, surveillance, video analysis, driverless vehicles, augmented reality (AR) etc. For example, in the fashion industry, there are now apps that can capture images of people and give more information about the clothes those people are wearing or can suit better.
The person can then decide to purchase the clothing items from online stores. People can point the camera of their smartphones to objects and purchase these objects online. Hotels and others in the hospitality section can now identify guests as they walk into their premises. This will help them improve their customer service.
Similarly, virtual reality has now become much more than an entertainment device. Companies are now using VR technology in various ways. In the real estate industry, some companies have VR solutions that allow potential home buyers walk through every aspect of a home and see every detail of the home right from their living room couch. Some fashion retailers now have VR solutions in their stores that allow people try on clothes virtually without needing to put the clothes on in the real world.
Some automobile manufacturers now produce VR experiences that allow people try out cars from the comfort of their homes. In the construction industry, clients can now see how their homes will look like after construction thanks to VR apps. Companies now conduct virtual reality interviews for potential employees. PCB designers are already using augmented reality (AR) to help them visualize designs better.