For small and mid-sized businesses, making inventive use of tech should be a top priority. The
right tools can help you to optimize your processes, overtake the competition and develop the
foundations for long-term growth – here are a few key areas to consider.
Machine Learning
Advances in data science have culminated in a new process, which involves the use of
algorithms to test data, recognize patterns and remove the need for instructions from humans.
We call this machine learning, and, in a nutshell, it refers to a computer’s ability to grow
knowledge exponentially and think for itself. When machine learning algorithms can
continuously learn and improve over time, the applications of this technology in a business
context are seemingly limitless and those who can make use of it early are likely to be the ones
who prosper the most.
Business Process Management
For businesses looking to automate workflows and menial tasks, Business Process
Management (BPM) could prove highly advantageous. This practice involves regular monitoring
of data to help you to streamline previously laborious aspects of your work operations, helping
to improve efficiencies and facilitating digital transformation.
IT Services
Although technology can be a major asset for businesses of all sizes, it can also be a source of
frustration when things go awry. IT services can help you to reduce the risk of problems
occurring and provide support when issues do arise. This will free up your time to focus on other
aspects of running your business.
Time Management
If you want to make better use of your time, you’ll find plenty of technology that relates to
projects, tasks, or calendar management. Calendar apps, for example, help you to track
meetings and deadlines, and coordinate with employees to create transparency between
schedules. The right software should be available on both mobile and desktop platforms,
meaning you can track or update tasks wherever you are.
Conversational AI
In the field of customer service, there have been huge leaps in recent years leading to more
cost-efficient and computer-intensive developments. Conversational AI refers to artificial
intelligence that can speak autonomously (meaning without the aid of people) – this has useful
applications when it comes to customer service as bots are becoming increasingly adept at
communicating with and satisfying customer concerns, thereby reducing labor demands for your team.
You might also be surprised to learn that bots are often cheaper than their fleshy
counterparts, with most services only requiring small monthly subscriptions.
Cyber Security
There are few areas where a failure to innovate will be more apparent than in cyber security.
Hackers and malware are operating at an advanced level and if you don’t have the
infrastructure in place to protect your data and business assets, you are liable to get caught out
in a costly, destructive way. You can start by making small changes to the way your team
operates – password-protected PDFs can protect sensitive files from a cyber attack. A PDF
merger could be used to merge and correctly order them, which keeps all your documents in a
single file.
When you’re looking to develop your business in an industry full of incumbent brands, your best
weapon is technology. With the right leverage of data, AI, and simple, cost-efficient online tools,
you can maximize your team’s efficiency and seek to disrupt the market.
The mission of Padre Island Business Association (PIBA) is to advance and promote the
economic environment for business and to advocate responsive government and quality
education. Learn more at: www.padreislandbusiness.com
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