Published 13 September 2017 Category: Business, Insights, Entrepreneurs, SMEs

Navigating Business Landscapes Of The Future

A raft of emerging technologies is poised to supercharge innovation throughout the business landscape and the economy, disrupting traditional business models and creating massive new opportunities. Developments such as artificial intelligence, robotics, virtual reality and blockchain will give organisations the ability to enter new markets and radically alter the ways they can service their customers. Those who do not make an effort to understand how they can be put to use within their organisation risk losing out to more nimble rivals that do.

New technologies will allow for more efficient use of capital, pointing to transportation systems as one example. Data analytics can help us move our public transport system from being a scheduled service to an efficient people-moving service. For example, if a train is arriving, data analytics should be able to hold a nearby bus for an extra time duration so more people can transfer, rather than having to wait for the next bus in 15 or 20 minutes.

And in the world of work, it is a given that emerging technology will continue to cause massive innovation within companies, changing both the way work is completed and who undertakes that work.

Dramatic impact
Over the last decade, emerging technologies have no doubt influenced almost every sector of society and business. Whether by their promise of better society and business or by the curse of disquiet etched in their wings; Robotics and Nanotechnology, among a few other emerging technologies, have certainly played a part in shaping today's business and society for tomorrow.

This poses the question that, if many of the junior positions are automated, how does someone progress through a career? When essentially this whole level is being stripped away by technology, what then happens? That's a pretty big question.

The application of Robotics, since the first practical realisation of the concept in the early 60s, has increasingly worked its way into many sectors of today's business and society. The primary application of robotics has mostly to do with tasks that are either too dangerous or those that are too repetitive and too precise for humans. In essence, robotics seeks to enhance human performance.

But how can we navigate around these emerging technologies so we don’t loose out completely? We need to think about the tasks and challenges that do require creative, problem-solving skills and not just focus on the technologies themselves but the value they can potentially deliver.

The emergence of Nanotechnology and Robotics was, to some extent, instigated and inspired by certain fundamental needs and pursuits of society and business. The business desire for cost-efficiency and society's pursuit of sustainability in the form of better health care, a cleaner environment, security, etc., are just a glimpse of what may have triggered the emergence of these among other technologies. However, the technologies' success, or lack of it, is to a large extent dependent on, the overall short and long term, how well they respond to the primary needs and pursuits of businesses and society.