Any new technology is capable of shaking your comfort zone and causing disruption. In that sense, all technologies at some point are disruptive in character. But even saying that we cannot generalize all techniques that keep coming and adding value to our lives in numerous ways.
A decade ago, smartphones arrived as a disruptive technology with a groundbreaking effect. Then came wearable, Internet of Things augmented and virtual reality, artificial intelligence, machine learning, big data analytics, Blockchain, so on and so forth. All of these technologies with mobile app development service share the common attribute of disrupting the conventional paradigms and approaches.
By utilizing these new technologies to their advantage, a whole array of new companies came as well. They quickly shot to fame with record-breaking growth and popularity. A vast majority of large enterprises also jumped on this bandwagon of innovation to stay in the competitive race. Over time, investing in these new, groundbreaking, and disrupting technologies became crucial for businesses.
Here we are going to explain the key reasons why most companies should invest in disruptive technologies.
- Boosting Productivity With Flexible Workplace
Increasing productivity and efficiency was always the most significant role played by these disruptive technologies in recent years. From mobility solutions to cloud computing to connected gadgets, and a host of tracking devices, there has been a lot of tools and technologies that made it possible. These technologies made it easier for the vast majority of companies to adopt a flexible work schedule and workforce who can “work from home” or “work from anywhere” or “work on the go.”
Thanks to mobile apps and cloud-based data sharing, accessing contents and collaborating on tasks have become more accessible than ever before. Thanks to real-time sensors and tracking devices, the activities, location, and performance of the mobile workforce can be tracked in real time. With the cutting-edge technologies such as biometrics and face detection registering attendance and tracking on-site presence became incredibly more comfortable.
Moreover, management and CRM apps such as Trello are increasingly making it easier to accommodate all employee activities with their individual performance and corresponding workplace data. Thanks to all these, jobs are no longer confined to the four walls of the workplace.
- Creating A Level-Playing Field For Small Businesses
The creation of a level playing field among small and large enterprises is another primary outcome of these new technologies. Earlier, small businesses simply could not think of competing with large conglomerates just because of the lack of access to the latest and cost-intensive technologies, gadgets, and expertise. Today, even a business having only a small and local footprint can access and utilize most of these breakthrough technologies.
Today a small business without having the full-fledged capability to accommodate big data servers can utilize big data analytics through ready to use apps. Similarly, you may not have any development expertise with artificial intelligence and machine learning for your in-house operation, but you can incorporate them in your business through ready to use algorithms and AI-based products. Software as a Service (SaaS) model has made many technologies available for small businesses. This allowed the competition to take place among players of various sizes on a level playing field.
- Effective And Business-Driven Customer Interactions
Disruptive technologies literally revolutionized customer interactions and helped business conversion through steady engagement. Modern customer interaction across the web and mobile apps are being focused on making the customer experience better through smooth and easy communication. To ensure this, disruptive technologies such as voice command interface, natural language processing, and intelligent chatbots played a significant role.
To exemplify the role of disruptive technologies in transforming customer interaction, we can take the example of chatbots, mainly. Some recent statistics show the era-defining part of chatbots. A whopping 60% of millennials at least once in their life already interacted with chatbots while using the web or a mobile app.
Chatbots coupled up with artificial intelligence, natural language processing, and voice assistants can really give customer interaction more pace, ease, and effortlessness. Now accessing a solution, getting content, or consulting an expert while using an app just requires a voice command and a little interaction thanks to the intelligent chatbot. Chatbots are continuously learning about every individual user and adapting to their preferences and contexts.
- Lowering The Overhead Cost
The traditional business mindset always considers implementing the latest technologies to be expensive. And in the present reality, the opposite is the case. Adapting to cutting-edge technologies can actually reduce the overhead cost of a company to a great extent.
Latest technologies are helping to curb cost in numerous ways. First of all, they are reducing the dependence on manpower experts while assisting companies to control human errors. Secondly, the best technologies are helping companies from making a massive investment in the cost-intensive in-house facilities. Lastly, thanks to cutting edge technologies, the labor market is now concentrating more on technical experts and skills.
Investment in costly real estate in prime locations or in the expensive hardware is no longer needed for modern tech companies working with remote employees and SaaS products.
- Remaining Lucrative for The Investors
Lastly, companies need to invest in cutting edge technologies simply to become lucrative investment choices. Today, investors always tend to prefer companies with long term growth potential. And disapprove those who don’t intend to go with the flow. There is no doubt that some companies always stay on top of the list for visionary investors. Only because of their long term growth potential. Being reliable to investors is now synonymous with remaining future-ready on the tech front.
Just think of the FAANG (Facebook, Amazon, Apple, Netflix, Google) stocks that always lead to unprecedented stock market growth. These companies directly on account of their ability to innovate and evolve remain still as the best investment choices. Future-ready tech companies who have too many innovations in the pipeline will never fail to look promising for the investors. Even small startups with a few successful projects and several breakthrough projects in the pipe can be considered as the future growth hackers. Through the past decade, a gamut of companies has experienced unprecedented growth in the stock market. And that is because of their innovations and creative excellence.
Innovations will continue creating new vistas of opportunities for businesses of all types and niches. And incorporating them at the right time for competitive lead is crucial. For instance, mobile apps just a decade ago were considered to have a disruptive role. Now they became the irreplaceable necessities in everyday life. So, a business needs to adopt a technology when it is still new. Companies need to implement new technologies at their budding state rather than embracing them when they become a commonplace necessity.