Today’s technology is evolving at a breakneck pace.
New digital trends pave the way for a rise in society’s expectations, and things that seemed impossible just a decade ago are now taken for granted. Having witnessed virtual reality, enhanced 5G connectivity, and even drones integrate seamlessly into society, it begs the question of when – not if – the next breakthrough is coming.
One man leading the charge in modern technological development is none other than Elon Musk. Taking a keen interest in “wondrous, new technology”, Musk has been furthering research and development in new technological spaces since the start of his career.
Originally from South Africa, he’s the founder and CEO of aerospace manufacturer SpaceX, and the CEO of electric vehicle and clean energy company Tesla. The former company aims to reduce space transportation costs to enable the colonization of Mars. Back on Earth, he aims to accelerate the world’s progression towards sustainable energy and drive the world’s transition to electric vehicles.
A relentless innovator, Musk is well known for his brazen, unorthodox ideas about the future. Musk is quoted as saying, “Some people don’t like change, but you need to embrace change if the alternative is disaster.” His position has never been more relevant as the global landscape changes day by day during the global pandemic. Yet despite the calamity, the outbreak of COVID-19 has breathed new life into old markets. According to McKinsey, consumer and business digital adoption were fast-forwarded by an astounding five years in just the first eight weeks of lockdown. The competition is rampant, and industry innovators show no signs of stopping.
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Owing to Musk’s impact, and combined with the worldwide influence of COVID-19, a multitude of contrasting technological trends have now entered the scene for business owners to explore. Artificial intelligence (AI) is one of the biggest: the industry is estimated to be worth $190 billion by 2025, paving the way for job creation in sectors such as data, cybersecurity, and even healthcare. With the sheer volume of data collated on infection rates and the performance of the vaccine, algorithms need to be sophisticated enough to offer solutions that may well change the world as we know it.
And as for what these trends mean for you, the answer is simple. As technology changes, so do the skills you need to know to enamor your audience, run a future-proofed business, and find long-term success. Undoubtedly, technology will transform the way businesses are run in 2021 and beyond. To stay current, competitive, and in the know about what’s coming next, take it from these three successful entrepreneurs gaining momentum in the online space.
Automation is Reshaping Business
Jaikishaan Sharma, CEO of Sharmaatricks, connects hardworking individuals with social media-based business opportunities. His company shares accessible tools and educational resources to help his growing community of over 70,000 members build budding online businesses and achieve freedom from the rat race.
He believes that automation is reshaping business. Sharma shares, “Digital shifts are opening new opportunities for businesses. I believe that both 5G and artificial intelligence are going to change the way business owners will run their business. With each passing day, automation is reshaping business and contributing to increased productivity – it’s very hard to ignore the impact of technology regardless of whether you’re operating a multinational or a start-up.”
“For the last few years, one thing that has frequently risen above all else in technology is automation. Automation tools are being innovated and developed every single day to make business processes agile. For this reason, I believe that the innovation surrounding automation will cause a rapid expansion of both remote working and video conferencing. We have already seen such rapid growth during the pandemic; Zoom has become a household name and other tools like Google Hangouts, Microsoft’s Teams, and Cisco’s Webex have all been making a buzz in the corporate world. Technology gives business owners and their staff the option to work from home, and moving forward, working from home will continue to be the new normal.”
These advancements in technology lead Sharma to his final point: because of the pandemic, schools and education institutes have been forced to fast-track e-learning and shift online education into the new normal. “Many institutions are changing portions of their curriculum to accommodate online learning well into the future,” he says.
“In 2021, we expect to see huge demand and rapid growth of artificial intelligence. AI is already known for speech recognition, smartphone personal assistants, ride-sharing apps, and so much more. But there is plenty of room for growth and expansion, and small businesses will begin to adopt this new technology in 2021 to help them operate daily. COVID-19 has pushed the adoption of digital technologies by several years, and that could be here for the long haul.”
Technology is Cracking Frequency Codes
Taryn Lee, a global brand partner to Healy World, is a successful digital entrepreneur passionate about helping people navigate the new world of vibrational, health, wealth, and wellness. Lee shares, “The secrets of the universe are upon us. In 2021, we have reached a pivotal time in history as science and spirituality merge, giving way to technologies that can now interact with our energetic field.”
She continues, “In the coming years, there will be a rush by both medical and technology companies to further crack the frequency codes on how energy networks work within our bodies and brains, and they will use that knowledge to design interventions into our electromagnetic fields to prevent disease and boost physical and mental health. It will create entirely new medical approaches, new products, and new business models.”
Help is Still Important as Technology Changes
Tyler Ornstein, CEO of Tylers Coffees, created the world’s first and only acid-free coffee to help the millions of people that suffer from stomach-related issues and acid reflux. At the age of 14, Ornstein began his company and has since seen rapid growth. As technology changes the way business is run in 2021, he believes that the fundamentals still hold true: help is as important as ever.
Ornstein shares, “If you ever want to be successful, there’s only one word that you need to follow: ‘Help’. Always seek to help at every turn. If you follow this word to a T, you will see an immense amount of success. Not only for your business but also for yourself. If you can build a product or a service that helps the greater good, then you can monetize it and therefore become successful.”
Forward Into The Future
It’s clear that the many advancements in technology show no signs of stopping, and will have remarkable influence as society takes shape for many years to come. The next decade will be truly formative, and for the modern business owner, change-maker, or entrepreneur, adapting and responding to emerging trends has fast become one of the highest values to hold in a constantly evolving digital climate.
As the pandemic draws to a close and we rediscover the new normal, whatever that may be, make sure to monitor the many major technological innovations set to make waves. In doing so, you’ll leverage each advancement in its early stages, helping you adapt, stay on top of your industry, and find success both now and in the future.