The growth and convergence of technologies such as AI and IoT are leading the way for innovative IT solutions in different industries, potentially transforming the business landscape of the future. The narrative of technology disruption growing at an exponential rate is not new. What is also evolving at the same rate, however, is how companies grow with the emergence of new tech — or the lack therefore. Despite entering 2023 with growing economic concerns, the State of the CIO survey 2023 by Foundry reveals that most CIOs (91%) plan to maintain or increase their technology budget this year. The focus of these investments will be on data analytics, AI, and other technologies that can enhance customer experience, resulting in increased revenue and the modernization of legacy systems. From a SkillGigs perspective, we also see the consistent need for top tier talent and the management of hiring to maintain digital transformation.
Many digital transformation investments are staying focused security and risk management as legacy systems have been neglected during the exponential rise of tech. But regardless of security, AI, analytics, etc., each and every technology poses as a disruption to business. Whether it’s a complete overhaul or a merging of technologies, disruption should be viewed as a cause of celebration, not concern as growth comes from the change. In this blog post, we will dig deeper into a few of these disruptors and the opportunities they pose for your business.
AI to rule us all
All right, that is a tad dramatic. But every article out there right now for business is all around the topic of artificial intelligence. The usage of AI technology is prompting a need for guidelines and safeguards, particularly in areas such as education where interest is growing and young individuals are involved. According to Stanford’s Artificial Intelligence Index, the United States is the global leader in AI investment, with a total of $47.4 billion invested in 2022, which is approximately 3.5 times more than China’s ($13.4 billion). As AI technologies continue to gain popularity in education, K-12 learning institutions are embracing this trend. Tim Pritchett, the Engineer Operations Manager at Matrix Integration, explains that data privacy issues involving minors and the accuracy of AI-generated information are becoming more prominent topics in discussions about AI technology. The expanding impact and demand for AI technologies are expected to continue into 2023.
Getting chatty
Advancements in AI technology, specifically with generative AI solutions such as ChatGPT or virtual assistants like Ariana, will disrupt the ways in which enterprises approach their customer experience (CX).
Chatbots can significantly support CX (Customer Experience) in various ways, including:
- 24/7 availability: Chatbots can provide round-the-clock assistance and support, ensuring that customers can get help whenever they need it.
- Fast and efficient service: Chatbots can quickly answer common questions, reducing wait times and improving the overall speed and efficiency of CX.
- Personalization: Chatbots can offer personalized recommendations based on a user’s preferences and history, enhancing the CX.
- Handling routine queries: Chatbots can handle routine queries, freeing up human support staff to focus on more complex issues.
- Consistency: Chatbots can provide consistent responses to customer queries, ensuring that customers receive the same level of service every time they interact with the company.
- Multilingual support: Chatbots can offer support in multiple languages, enabling companies to serve a more diverse customer base effectively. This is also an added benefit when hiring offshore to ensure no efficiency is lost.
Overall, chatbots are essential tools that can significantly improve CX, providing efficient and consistent support, personalization, quick service, and 24/7 availability to customers.
Keeping sustainability
Many companies are increasingly focused on reducing their carbon footprint and adopting eco-friendly practices to combat climate change. Sustainable tech is expected to become an enterprise priority due to several reasons, such as:
- Customer demand: Customers are increasingly becoming environmentally conscious and prefer to do business with companies that are committed to sustainability.
- Regulatory pressure: Governments and regulatory bodies are imposing stricter regulations and mandates around sustainability, making it necessary for companies to adopt sustainable practices.
- Cost savings: Adopting sustainable technology can result in long-term cost savings, such as reduced energy consumption and operational expenses.
- Competitive advantage: Being a sustainability-focused company can provide a competitive edge by attracting and retaining environmentally conscious customers and top talent.
Enterprises are realizing the importance of sustainable tech and the benefits it can provide. Therefore, more and more companies are investing in sustainable technology and prioritizing sustainability in their business strategies. This trend is expected to continue, with a growing number of organizations making sustainability a core part of their operations to drive success and growth in the future.
Surge of IoT mergence
Since internet of things came on the scene, it has certainly made us “smarter.” With massive optimizations across supply chains, industrial processes, control systems, we have achieved smart health, smart cities, smart agriculture, and smart energy to name a few. These are just a few examples of how IoT is being used to transform different industries and enhance our daily lives. As more devices become connected and data becomes more readily available, the potential applications for IoT are virtually limitless.
Smart hiring
And speaking of smart things — businesses are now forced to look at their own hiring practices and make them smart as well to keep up with digital transformation. The emergence of all these disruption technologies require a disruption to traditional processes like staffing. SkillGigs, a disruptive technology itself, is here to show businesses that to achieve data analytics, reduce risk, and AI advancement, you will need to not only hire faster, but hire at volume. The emergence of direct sourcing was all about equipping the employer to connect with talent, build a talent pipeline, and hire at speed as needed. Therefore, if any of the above tech are on your short list of 2023 focuses, then it will begin with your hiring practices to ensure that productivity.
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