Nowadays, it seems that there isn’t an industry, niche, or process that can’t be improved with the help of technology. Tech-driven solutions are driving innovation in every industry in the world, particularly the major industries that are rapidly rising in popularity and market value, such as big business, E-commerce, education, healthcare, finance, and others. That said, even though business leaders are eager to champion the integration of innovative technologies into their processes, there is a need to assume a more tactical approach in order to minimize risk while maximizing the long-term ROI potential.
That said, even though business leaders are eager to champion the integration of innovative technologies into their processes, there is a need to assume a more tactical approach in order to minimize risk while maximizing the long-term ROI potential.
Today, we’ll be talking about some of the major industries that are undergoing a tech revolution, and how you can capitalize on these trends and innovations now, and in the years to come. Here’s what you need to know.
Changes in Ecommerce
One of the most popular industries in the modern online world is, of course, e-commerce. This is a colossus among big industries, and unsurprisingly so, as the current market value has reached a whopping 3.53 trillion US dollars, and the industry is only expected to rise in the years to come – with projections reaching 6.54 trillion US dollars as early as 2022.
So what’s fueling all of this growth? For one, e-commerce is in constant demand across the globe, but beyond mere supply and demand, it’s the technological innovations that are elevating its popularity.
Concretely, we are seeing a rapid rise in the integration of mobile commerce, VR, and AR technologies. Mobile commerce (also known as Mcommerce) is on a continuous rise around the world, as the majority of the online consumer base is quickly shifting to mobile browsing and commerce.
Likewise, forward-looking Ecommerce brands are increasingly leveraging advanced technologies such as AR and VR to deliver a better shopping experience, and thus build up their competitive advantage.
If you’re in the Ecommerce game yourself, then the best thing you can do for the future of your brand is to invest in these technologies to appeal to the modern, tech-savvy consumer.
The evolution of education
Another major industry that’s experiencing a rapid shift is education. For too long, education has remained static in the face of progress and the technological revolution, as integrating tech innovations into the classroom has proven to be a cumbersome task.
Yet, slowly but surely, technology is making its positive impact on the education sector, particularly in the forms of mobile learning, e-learning, and artificial intelligence.
While mobile learning and e-learning, in general, are pretty self-explanatory, the integration of artificial intelligence and machine learning into the education industry is particularly interesting, as AI not only aims to improve the learning process but the teaching and grading processes as well.
For example, with AI technology, teachers can easily identify the individual’s pain points and knowledge gaps, and leverage AI to address these problems in an efficient and effective manner.
Big business and natural resources
Even though there are some pretty big industries out there, nothing quite compares to the size and value of the oil, gas, and natural resources markets. Big business, as it’s called, is championing the integration of advanced technologies, particularly smart technology, in order to minimize expenditure, maximize profits, but also become more sustainable and eco-friendlier in the long run.
Drilling companies, for example, that rely heavily on specialized and nuanced machinery the likes of tubulars are also utilizing smart technology, VR and AR, and laser tech to create the most detailed schematics and blueprints in order to make production as efficient and effective as possible.
Currently, we are also seeing big business breaking into the Ecommerce realm as well, and capitalizing on the increasingly-popular B2B Ecommerce market.
Improving lives with tech-driven healthcare
If there is anything technology is good for, it’s to improve our personal health and long-term well-being. And it’s doing so through numerous health apps, but more importantly, though tech-driven healthcare. No one stands to gain as much from tech innovations as the healthcare industry, simply because there is an insatiable need to deliver better and more cost-effective treatments to the masses across the globe. And as healthcare becomes more cost-effective and available to more people, it becomes more profitable.
This is why stable economies around the world are quickly integrating tech solutions into their healthcare systems, in order to make diagnosis more reliable, surgical procedures safer, and the lives of patients more comfortable. From dedicated mobile apps, to augmented reality that makes a surgeon’s job a bit easier, there’s no limit to the benefits of technology for healthcare.
Creating a more eco-conscious world
And finally, let’s not forget that technology has the power to create a more eco-conscious world, and aid those important causes such as preservation and conservation. This is achieved on both the micro and macro scale, as technology gives rise to eco-friendly industries (solar power), but also helps brands become more sustainable (recycling, reusing, repurposing), all the while helping the residential sector reduce its overall carbon footprint with many home-based technologies.
There’s no denying that technology is, and will remain, an inextricable part of modern life. These major industries are currently capitalizing on the tech revolution, but it’s also important to keep in mind that tech innovations can help businesses of all sizes build their competitive advantage and surpass the competition.