Modern technology has proven itself disruptive time and again which has allowed businesses to flourish and advance in industries like education, manufacturing, logistics, and finance. Disruptive innovation is also disrupting companies from Google to Microsoft. While in the past the disruptions were unexpected, it has allowed business owners and entrepreneurs to see how the innovative ideas are lucrative opportunities that improve business models significantly. Here are three transformative technologies that are revolutionizing businesses worldwide.
1. API Integration
An application program interface (API) is a software building application tool that determines how API components interact. Partnering with a skilled API Integration company will help companies identify API sets that best connect hardware and software and allow user devices, programs, and data to function and interact with one another. Companies need API integration for many reasons, including to:
- Connect to cloud apps
- Develop new APIs
- Extract data from legacy systems
- Write new apps
- Increase productivity
- Manage APIs in-house
- New technology integration
- Develop product or service ideas
- Generate software solutions for end-users
Some of the most popular APIs utilized by companies include YouTube, Google Maps, Twitter and Amazon. As technology progresses, API integration offers limitless possibilities for companies to expand as growth and revenue do.
2. Artificial Intelligence
Thinking about artificial intelligence (AI) in the past mostly innovative thought process, but today it is a mainstream tool used in daily business operations to improve efficiency and productivity. By 2030, experts predict that AI will contribute $15.7 trillion to the global economy and 26 percent gross domestic product to local economies. As more businesses pop up online, APIs will customize customer experiences and analyze data that interprets consumer buying histories to predict future product or service trends. It will also help companies use predictive AI to target new demographics based on behaviors.
What is clear about AI is that it is set to disrupt more companies in the future because of quantum computing that will be smarter and more complex than how we are using it now. It will solve problems like global warming, poverty, space exploration, and disease all because of AI superhuman quantum computer systems that will dissect and analyze data in seconds without programmers feeding them commands. Popular AI in use today includes Siri, Alexa, Cognito, Netflix, and Amazon. The next generation of AI will include facial recognition, augmented reality, internet of things connectivity, emotional replication, drone delivery, and voice or visual search platforms.
3. Blockchain Cryptocurrencies
For the past few years, blockchain cryptocurrencies have thrown many industries into a disruptive state as it decentralized how companies buy, sell and store data. Blockchain uses transparent ledgers to connect an extensive network of users, so it has a reputation of being a tamper-proof way to make transactions, which is an indispensable tool to e-marketers. Blockchain technology like Smart Contracts will also become mainstream, which will allow businesses to use it to secure financial transactions via cryptocurrency exchanges.
Companies must prepare for the future of AI and blockchain technology by investing in the type of resources that transforms new talent and streamlines information technology departments to win in business.