Artificial intelligence (AI) in the world of business intelligence (BI) and data analytics is advancing in leaps and bounds. Advanced AI algorithms are capable of performing quick, deep dives into data to automatically uncover insights that may be relevant to business performance — trends, causal relationships between factors, outliers, etc. And these BI tools are also capable of communicating these insights to employees in a natural language they’ll understand regardless of how much data experience they have under their belts.
Technology is developing at a never-before rate, that what once was considered a luxury has now become an everyday item. There are many examples, like computers, mobile phones, cars, etc. From medical advancements to everyday products, engineers and scientists are always looking for what next big thing they can invent or work on. The interesting part is, things which our parents used to watch in Sci-fi movies during their time are available to us now. Yes,! We’re not ready with spaceships to fly around but many of the reel world technologies are readily available to us for purchasing like the 3D printer from the movie Star Trek and the video calling feature predicted in the movie Blade Runner, both have become a reality now.
If you haven’t had a tech update in a few years, you’re probably overdue. It’s almost always a great idea to invest in new technologies that will significantly boost the productivity and growth of your business. Even if it’s the best decision you’ve ever made, you’ll still need to make some important considerations before you hit the ground running.
New technology is going to change a lot of things. You can’t just jump in with both feet and expect such a huge new development to go over without a hitch. Before you go on a spending spree, make sure you have all of your affairs in order with your employees, strategies, and plans.
Remember when you bought your first VCR? You had a remote control for your new movie-watching device that you had to keep separate from CD player remote, your regular television remote and your stereo remote. Something as simple as changing the channel on TV meant having to fumble through several remote controls or attempting to program everything into a cumbersome (and huge) universal remote.
The same issue may be happening now in houses that are embracing the “smart home” way of life. As smart homes technology are introduced, homeowners are trying to avoid being overwhelmed by the clutter of devices, programming and controllers.