Top 7 Ways How New Technology Reshaping Various Industries
If you’ve been keeping tabs on the exciting trends in the tech sector, such as artificial intelligence, then you might know the emerging new technologies reshaping various industries. These technological advances are transforming the way we work and interact with people. Technology is revolutionizing the way we conduct businesses and make high-tech approaches a vital part of our lives.
In this article, we’ll discuss the top seven ways how new technology is reshaping various industries.
- How thermal extraction is reshaping the CBD industry
Marijuana contains a chemical compound known as cannabidiol (CBD). In contrast to tetrahydrocannabinol (THC), CBD can produce health benefits to its users, while THC ‘handles’ the ‘high’ experienced by smokers. To better understand CBD oil’s benefits, you need to know the extraction process.
With the help of modern extraction methods, manufacturers can make CBD oil for different uses, such as CBD oil for sleep. Both humans and pets can now consume quality CBD oil created by producers. They extract the oil from marijuana plants using patented water vapor extraction machines by thermal extraction.
To vaporize THC, manufacturers use devices that heat and condense air. The machines then carefully extract CBD from THC. Because of the lack of psychoactive compounds, the resulting CBD oil may be the best CBD oil ever made.
- How Artificial Intelligence is reshaping the fashion industry
The fashion industry is one of the world’s biggest industries, generating an estimated $1.5 trillion a year. One of the top tech advancements in the fashion industry is Artificial Intelligence (AI). Over the last few years, brands have used AI to enhance the shopping experience, analyze data, boost sales, forecast trends, and offer inventory-related advice. To improve customer service and personalized product suggestions, agents in stores are using chatbots and touchscreens.
Using AI chat technology is almost ubiquitous on the fashion brands site to enhance the customers’ experience. With the help of AI technology, businesses can match products to customers through algorithms that track their journeys.
- How Cloud Computing is reshaping the business world
Embracing digital technology leads to greater agility, collaboration, and customer focus. It enables companies to optimize internal resources and deliver value to customers. By utilizing cloud computing, businesses can move some of their operations to internet-connected servers owned or operated by third parties. They can tailor data packages to meet specific needs and can snowball without the fear of permanent data loss or downtime.
Cloud-based companies can innovate more quickly, scale more efficiently, and develop more new market capabilities. It has created fair competition when competing against corporations with much more financial resources because small to medium-sized businesses now have access to resources previously out of reach.
- How smart guest experience is reshaping the hotel industry
Talk of the guest experience, marketing to operations, smart technology offers multiple cost-saving and revenue opportunities. It also enables hotel owners to reach higher levels of profitability. An example of how technology is transforming the hotel industry is through smart guest experience.
With occupancy sensors, the industry can use guest data not only to accommodate guests’ needs better but also to automate guest interactions throughout their stay, thus reducing both labor costs and friction points. With the help of smart technology, hotels can predict and personalize several guest services because of previous trips and aggregating data from previous guests.
- How E-Commerce-friendly POS systems are reshaping the future of the retail industry
Because of restrictions and concerns surrounding in-person shopping during the COVID-19 pandemic, e-commerce has experienced massive growth in activities. To boost online sales, business owners have optimized their e-commerce platforms. Lockdowns and health risks resulting from the pandemic have led to record closures of retail outlets in 2020.
POS (Point of Sale) systems and e-commerce solutions for retailers are increasingly in demand. Customers need to have the same quality of service, order processing efficiency, and system integration as they can in physical stores when shopping online.
- How mobile and tablet devices are reshaping learning and development
Mobile devices have enabled us to browse social media and chat on the go, the ability to play games on the go, or the ability to research the symptoms of any illness we’ve ever experienced. However, mobile and tablet devices make it possible for us to consume interactive content, apart from offering a sense of convenience in our recreational lives.
The availability of materials on various devices now allows learners to be more autonomous, flexible, and in control. Not only can they decide when and where to study, but they also set their own pace.
- How augmented reality is reshaping the service industry
There’s no denying it: service is a people business! Technology often enhances or even replaces specific tasks.
The technologies that enable digital transformations must affect the quality and delivery of services. Despite its potential, the service sector rarely uses Augmented Reality (AR). Remote experts, for instance, can see what a field engineer sees in the field through AR-enabled glasses. And field engineers can receive instructions projected onto their glasses by a remote expert.
Rapid technological advancements are not likely to slow soon. If industries cannot adapt, they will be out of competition, while those who keep up will benefit. To maximize technology’s impact on your business, you need to adapt to how it affects it and use it to your advantage.