At the beginning of the year, companies around the country plan for their technology spending. With so many emerging technologies grabbing headlines as of late, understanding which trends will likely provide your customers with the most benefit is critical, allowing you to make better decisions about spending.
Similarly, tech professionals can benefit from the knowledge as well. By learning about how the consumer markets are shifting, they can acquire skills that align with these trends, positioning themselves for a more lucrative career.
If you are wondering how the newest tech trends will impact consumer markets, here’s what you need to know.
Home Automation Makes Headway
Home automation is poised to make significant strides over the coming years. Currently, the market is filled with niche products, such as monitoring devices and smart lights. However, the call for simplification and integration is only getting louder, especially as more consumer buy into the concept in general.
People often embrace technology that has the potential to make their lives simpler or will help them save money. Since home automation can possibly do both, this is a trend with staying power.
Augmented Reality Meets Mobile Computing
Both augmented reality (AR) and mobile computing can be powerful. However, as the two come together, the potential to reshape work and life experiences as well as enhance productivity only grow.
By giving users the ability to see informational overlays placed onto the real-world, the possibility of real value is clear. Similarly, being able to visualize structural changes or products in the actual space where it will be placed could be a gamechanger for a wide array of industries.
While most people associate blockchain with Bitcoin, the technology is much more than just the power behind a cryptocurrency. Blockchain has the capacity to revolutionize several consumer markets, particularly in areas like banking, accounting, finance, insurance, and even healthcare.
Artificial intelligence (AI) has been making waves for years, and many still consider the technology to be in its infancy. Some of the more recent developments have focused on the power of consumer-facing AI, such as chatbots for customer service, giving customers the ability to get answers to common questions quickly. or voice analysis for incoming calls, allowing customer service representatives to receive call handling tips based on the system’s interpretation of the caller’s mood.
The potential for leveraging AI to improve customer interactions is there, especially as AI’s natural language processing capabilities become more robust. Precisely where it will go is still somewhat of a mystery, but no one is questioning whether there will be an impact on the consumer market.
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In the end, all of the tech trends above will have a massive impact on the consumer market, so they should remain on everyone’s watchlist. If you would like to know more, the team at The Armada Group can help. Contact us with your questions today and see how our tech trends expertise can benefit you.