Quick Summary: Business leaders and organizations are increasingly faced with the challenge of making sense of an ever-changing digital landscape. In addition to developing new technologies that support their ongoing operations, companies must be prepared to adapt to new technologies and make them an integral part of their business models. Businesses that do not will fall behind the competition, creating an opportunity for forward-thinking organizations to distinguish themselves through their ability to innovate. Here are Brain Inventory’s top trends surrounding enterprise technology solutions.
7 Enterprise Technology Trends Impacting Organizations in 2023
Enterprise AI Adoption: Enterprises are increasingly intrigued by leveraging artificial intelligence (AI) technologies. Large enterprises are spending exponentially more on AI solutions than ever before, and it’s transforming their core functionality. AI is turning into a new competitive factor for businesses as they seek to completely revamp and optimize their operational routines with AI solutions. The types of AI software that enterprises are using include machine learning, deep learning, natural language processing, robotic process automation, classical planning, and reinforcement. The demand for cognitive computing platforms (i.e., IBM Watson) continues to surge. Salesforce, Microsoft, and Oracle are adding AI capabilities to nearly all their products in order to compete against the emergence of other cloud-based services focused on this same development. With the advent of systems integration platforms such as Zapier or IFTTT, automation can be rolled out every day across many different business channels simultaneously. This is driving operationalization at a rapid pace in which large companies maintain better control over their data processes and customer relationships despite empowered consumers who are using these tools to manage their own data usage.
The End of “Traditional” ERP (Enterprise Resource Planning)?: Today enterprise resource planning software (ERP) is the backbone of many of the world’s largest companies. For decades, ERP systems were largely similar: monolithic programs that integrated multiple components to control complex business processes. This gave rise to incumbent ERP giants like Oracle and SAP, which continue to hold the lion’s share of this market. Of late, two things have happened: The market for ERP applications has become crowded with competitors, and traditional ERP vendors have begun to adopt more digital technologies (like automation, blockchain, and cognitive tools) into their products.
Leveraging Business Intelligence: Businesses and industries utilizing Business Intelligence Software now recognize its extensive capabilities. Clients and the wider industries comprehend the potential of consumer insights and their practical application. The expectation is that data, sourced from both physical and digital channels, will shape consumer behavior.
This trend, often referred to as the ‘Internet of Behaviors,’ harnesses insights gleaned from consumers’ Internet interactions. Preferences, dislikes, and purchasing behaviors contribute to building a comprehensive individual profile, as exemplified in ‘The Social Dilemma.’ Consequently, marketers and businesses are adapting their campaigns to elements that reliably elicit consumer responses, marking a logical progression in consumer engagement strategies.
Business and Personal Privacy Improvement: Digital privacy is now a widely discussed issue. As personal devices become extensions of the self and as intimate data habits are pooled into dating apps, privacy concerns have been brought to the forefront of the public discourse. Today, it is no longer an extenuating occurrence for a company to be hacked. However, contact tracing apps, originally intended to weed out owned accounts from ghost users, provide businesses with insights that they never had before and could prompt legal action.
The security of personal information has become an increasingly significant consideration for many of today’s corporations. With technology becoming more integrated into our daily lives, and the sophistication levels of consumers in the digital terrain growing at an accelerated rate, privacy matters have never been more important. One notable change is our growing focus on maintaining a high level of security over our personal data. The rapidly evolving market will demonstrate an increased demand for more visible security efforts as well as stronger actions against those who breach security or cause harm to an individual’s data.
Digital Transformation Agility: Remote work is a relatively new concept that has been silently growing in the past few years. With the help of the internet, there are many businesses that don’t have to be based in one location. Businesses today can be based anywhere in the world, as long as they have great internet connection. This is changing the way we work and uniting countries and cultures. Nowadays, there are many remote workers who enjoy working from home or anywhere they can connect with an online community. We’re starting to see remote workers become more common in offices today.
Embracing the Distributed Cloud: Cloud computing has evolved from a relatively new option for businesses into an established and predictable method of conducting business. In 2023, it will be difficult to find businesses that do not make use of cloud technology in some form or another. Cloud-based applications have become ubiquitous, offering highly competitive benefits over the alternative of in-house, locally installed systems. No longer are businesses taking the risk of running an incompatible system that requires exclusive, expensive hardware, while tying up valuable data on server space that isn’t protected against security risks. The trend is clear – the more cloud technology can offer; the better.
Automating Systems: In 2022, numerous tech-savvy businesses introduced various solutions to address different challenges. However, these solutions often lacked seamless integration and compatibility with each other. In 2023, there’s a growing trend towards rebuilding and streamlining these technologies for a more cohesive and efficient experience.
AI, which extends far beyond the famous movie, is a pivotal component of the future. Hyper-automation involves leveraging software and AI to enhance efficiency across various industry facets. This approach can significantly improve information gathering and decision-making, surpassing the capabilities of traditional methods.
Picture the power of marketing with real-time insights into customer behavior and a fully synchronized buyer journey. Hyper-automation emphasizes that any process that can be automated should be, ultimately optimizing and enhancing the effectiveness of your business operations.
Emerging technologies hold the promise to fundamentally change how businesses operate. These technologies are not just tools but can be transformative in their ability to improve efficiency, drive innovation, and deliver outstanding customer experiences. The business world today is faced with the challenge of ensuring that these revolutionary advancements are managed responsibly across diverse ecosystems. At Brain Inventory, we know that an enterprise technology strategy is only as good as the data supporting it. That’s why we offer a range of data services to help our clients move seamlessly from data collection to analysis to reporting and visualization. Brain Inventory Data Services allows you to make more strategic decisions about your enterprise tech by identifying the best tools for your company’s use.
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