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TECHNOLOGY

How AI, IoT, VR, Blockchain and Modern Tech Are Rewriting the Future of Work

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How AI, IoT, VR, Blockchain and Modern Tech Are Rewriting the Future of Work


Artificial intelligence, internet of things, blockchain, virtual reality and modern tech are rewriting the future of work continuously. 

Are we really moving towards a future that will make our workplaces way more efficient?

Before technology started rewriting the future of work, all types of work in various enterprises was handled manually. Employees worked hard for long hours, and this was considered the most important work ethic. But technology has brought about substantial changes in the ways traditional workplaces have operated. For example, in banking, most transactions and operations were handled manually by the employees. With the rise of technology, most banking operations and services are now taken care of online and provide a more streamlined experience for employees as well the customers.

Modern technology is getting advanced on a daily basis and applying different technologies is making our lives simpler. Modern technologies like artificial intelligence, machine learning, and IoT, are rewriting the future of work. Industries are now witnessing a cultural shift in the workplace. Besides working hard, we have started believing in working smarting too. Every employer wants to ensure that their employees make optimum use of their time at work to produce commendable results. Workplaces have become more organized, time effective, and offer better communication with the help of modern technology, today.

Types of Technologies Used in the Workplace

The discoveries made in the world of technology are continuously rewriting the future of work to make workplaces more efficient. The different types of technologies used in workspaces include:

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Cloud Services

Cloud services enable users to store documents and projects and share them with other employees and clients. Cloud services help projects to integrate with other applications on the Internet. Multiple members can access any project, and the progress of the project can be tracked in real time. Cloud services ensure real-time collaboration and project management over the Internet to increase productivity across the board.

Artificial Intelligence

According to Accenture, the adoption of AI will increase labor productivity, which can double the rate of growth of the economy in 2035. Artificial intelligence is rewriting the future of work by taking over the small but time-consuming tasks. In the workspace, employees can benefit from AI by handing over multiple tasks such as synchronizing calendars, to the machines. Google uses artificial intelligence in Gmail, for instance, to sort emails under numerous sections like primary, social, promos, updates, and many others. Sorting the inbox makes the emails look more organized, which ensures that Gmail remains user-friendly. Artificial intelligence is also used in Google Calendar, where the application automatically notifies the user about events. Chatbots are another application of artificial intelligence, which is extensively used for customer support. Chatbots are used to answer customer queries and to provide a better experience on social media marketplaces.

Machine Learning

Machine learning is used in the finance industry to understand financial market trends. Applications that use machine learning help in calculating financial risks and planning for the changing market. The retail sector, on the other hand, uses machine learning for recommendations when you make an online purchase.

Internet of Things (IoT)

IoT connects everyday objects and applications to the Internet for sending and receiving data. Workplaces can use IoT, for instance, to track empty conference rooms for the optimal use of employees’ time. Unlocking the full potential of IoT can be used for rewriting the future of work, by connecting various devices to one centralized system that would enable management of every operation in the workplace.

Virtual Reality

When virtual reality came into existence, gaming and entertainment were the only sectors dominated by the technology. But, soon after NASA started training their recruits with the help of virtual reality, various businesses started following with their own training programs. Now, many businesses have training programs for new employees that extensively use virtual reality. Sooner or later, our video conferences calls will take advantage of virtual reality to provide a more immersive experience.

Blockchain

Since the dawn of Bitcoin, multiple organizations have shown interest in blockchain technology. Specifically, organizations intend to create their own economy using their unique crypto-tokens. If major organizations adopt cryptocurrencies, the wages and other transactions in their workplaces will be handled using blockchain technology. Moreover, workplaces also aim to use blockchain for recordkeeping, which raises concerns about fraud and corruption, when handled manually. But, with blockchain, all records of the employees, contracts, and transactions, can be more transparent.

Benefits of Using Modern Technology at Work

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Efficiency

The most significant benefit of introducing modern technology to the workspace is efficiency. Today, workplaces can handle multiple tasks simultaneously with the help of modern technology. For example, multiple major banks across the globe are using AI to stop money laundering by recognizing different patterns and activities that money launderers carry out. Similarly, other modern technologies are used to handle various tasks and speed up the operations at the workplace.

Enhanced Communication

Communication applications such as MS Teams, Hangouts, and Skype are used to communicate with other employees and clients through messages and video conferencing. Communication applications enable better collaboration. Using such communication applications significantly increases internal communication and productivity.

Automation

Another major benefit of modern technologies is their ability to automate. Workplaces are exploiting the potential of modern technologies by automating crucial tasks such as data entry, record keeping, and generating analytics, and automation has significantly reduced the chances of introducing human error.

Modern technology is Rewriting the Future of Work

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It is essential to understand what your company does and figure out the big picture to deploy technology solutions for rewriting the future of work. For example, a time tracking tool can allow employees to stay productive by tracking tasks and analyzing their work clock. Understanding how skilled your employees are and planning your budget are vital before deploying new technologies. Workplaces should identify technologies that need to be repurposed before the existing technologies get outdated. Old methods and technologies should be replaced with new ones for better performance and efficient workplaces. Software industry can explore customization and artificial intelligence to deliver better services and applications.

Predicting industry trends can help you prepare for the future of your business segment better and adapt the company and the employees to a dynamic market. The market is competitive and every industry is battling to eat the largest piece of the pie. So, it has become necessary to invest in technology trends to drive business towards success. However, deploying new technologies and adapting to the changes require planning and informed decision making. Strategies are developed to deploy technologies while avoiding obstruction to the everyday operations of the company. Introducing new technologies in your workspace for rewriting the future of work can be an intricate task. It is recommended to consult an expert when deploying IoT, big data, AI, or any modern technology for that matter.

Modern technology is rewriting the future of work by making the workplace and the employees smarter. Major organizations are adopting new technologies to make workplaces more efficient. Moreover, organizations can push a more productive work ethic in their workplaces by leveraging modern technologies. And, technologies like AI, machine learning and blockchain, are here to stay, hence every organization should consider adapting to modern technologies.



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TECHNOLOGY

How is Machine Learning Affecting Advertising and Marketing?

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How is Machine Learning Affecting Advertising and Marketing?


Machine learning is transforming advertising and marketing by segmenting and targeting specific audiences with relevant messages.

The use of machine learning in marketing parallels that of its use in news media. Publishers as varied as the Washington Post & Reuters and even smaller publishers regularly use machine learning tools to produce copy around financial and sports results, leaving journalists more time to get on with analysis that really adds value to their consumers.

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Source: Smarty Ads

Advertisers and marketers can use machine learning to create more personalized experiences, target the right audience, reduce costs, and make faster decisions. 

1. Advanced Customer Profiling

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Source: Datafloq

Knowing your target audience and understanding their needs, interests, and preferences is essential for the success of your digital marketing efforts.

Having an accurately defined ideal customer profile and buyer personas lets you segment your email and content marketing and personalise your marketing messaging and content.

In advertising, as in other industries, machine learning is focused on using algorithms to ‘mimic’ human intelligence by programming them to think and respond in the same way humans do.

AI-powered chatbots are changing the customer support landscape tremendously. 

As an example, Alexa is using machine learning to make predictions on its own about what your words mean, how to respond to them, and what action you’re requesting.

Alexa is not being programmed explicitly to get better after each user’s query. Instead, Alexa is using data from each interaction with users to improve its interactions with the next one.

2. Increasing Loyalty & Retention

It’s crucial to offer your prospects answers to any questions they might have regarding your product or services as that can be a make-or-break factor to purchase. Similarly, once they decide to opt for your product, they’d like to start using it right away. Meaning they’ll be frustrated if they don’t understand how a certain feature works.

Effective machine learning solutions provide marketers with a central platform for managing large amounts of data. These platforms can derive insightful marketing intelligence about your target audience making it easier to make data-driven decisions.

Machine learning technology can help to create more effective, insightful and target consumer-specific ads and campaigns through big data marketing. Data collected from keyword searches, general online activity and social media profiles can be utilized to develop a smarter marketing strategy.

3. Saving Costs with Dynamic Pricing

As machine learning is able to quickly process data, it can save a lot of time when prospecting–shortening the sales funnel. The ability to adapt to the user’s behavior and store and interpret large amounts of data saves marketers a ton of time and effort compared to doing research manually.

Machine learning can be used to set the price of products dynamically depending on demand, availability, customer profiles, and other factors to maximize both sales and profits.

If you’ve ever searched for a flight and then gone back to buy it a couple of days later only to find it’s gone up a few hundred dollars, this is also a good example of dynamic pricing at work.

4. Better SEO & PPC with Micro-Segmentation

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Source: Datafloq

Machine learning helps businesses expedite the process and enhance the accuracy of keyword research, SEO, PPC, competitor analysis, search intent research, and more.

SEO and PPC as being two sides of the same coin: search. The most obvious benefit of combining SEO and PPC efforts is added exposure on the search engine results pages (SERPs).

Machine learning divides a large, diverse group into smaller segments with similar needs, wants, and preferences. This allows companies to target customers with personalized keywords, messaging and offers.

With machine learning micro-segmentation technology, businesses can send highly relevant messages to their audience based on their specific interests and needs. This increases response rates significantly and helps you build stronger relationships with customers over time.

5. Predicting Future Trends

Predicting the future has always been a crapshoot for organizations. That’s why marketing and advertising budgets are often so large: Organizations are hedging their bets and throwing a lot of resources at the problem of figuring out what consumers want next. If a company can accurately predict people’s wants and needs, it can create products that will be highly successful, and that means more money for everyone involved.

Machine learning is taking over this role of predicting the future and doing a better job than humans. When companies use machine learning, they can analyze massive amounts of data much faster than anyone. Predictive algorithms give marketers and advertisers insights into what’s coming next based on trends they see in the market. They can make informed decisions about their marketing campaigns now that they’ve been given a crystal ball into the future.

Conclusion

By embracing machine learning incorporating it into your digital marketing and advertising strategy, you can target your consumer audience with much more precision, and engage your audience more effectively. 

Machine learning allows advertisers and marketers to identify target customers, curate marketing content, create marketing strategies and regulate dynamic pricing based on customer behavioral patterns



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