Conrad Rockenhaus in Business Strategy, Business Systems Architect Oct 29, 2019 · 1 min read · +100

The Changing Landscape of Business

The Changing Landscape of Business

Technology not only affects the technology industry, but affects all industries as well. Business is no exception, and technology has changed how some businesses conduct transaction and acquire customers. Some change has been for the better, but how exactly does technology play a role in changing the landscape of business? Read more about it below. 

Innovation

Technology is evolving rapidly and so is the business environment. Consumers and producers already experience the change in the modern business world, so it shouldn’t come as a surprise to many that technology will certainly change the landscape of business within the many years to come. With the rise of artificial intelligence and the technology spurred by it many wonder how AI will play a role in the future. Elon Musk, from Tesla, and Jack Ma, from Alibaba, recently spoke at China Summit to discuss their opposing thoughts regarding AI technology.

Growth of Businesses

There are positives and negatives to everything, equilibrium. Companies that adapt to the growth of artificial intelligence will be able to reap all of the rewards that the technology has to offer their businesses. Businesses that want to grow from AI technology should devote time and resources to incorporating AI with their current tasks. These businesses will soon find that the technology is capable of bolstering the performance of their current work force. However, prior to this realization, businesses will need to experience failures with the technology and develop methods to work around those failures. As a business begins to learn more about the developing technology they will need to hire or train employees to use AI technology. Businesses with in-house experts in AI will have a much greater advantage in their industries as other businesses spend time learning the technology more and how it fits within their systems.

Destruction of Businesses

The advent of artificial intelligence will change the way that people approach problems and tasks in their daily routines. Aside from process adaptation, one of the biggest issues that many businesses will face with AI technology is finding employees who are skilled enough with the technology to use it properly. Companies that ignore the technology may become obsolete among competition that spent time focusing on the new technology during its formative stages. The number of employees that work in a given field and understand the new AI technology is currently very limited, meaning that companies who are slower in their acceptance of AI technology may be unable to find employees who can work with the technology effectively.


This article was originally published on conradrockenhaus.net