Disruption is a reality facing many businesses across the world. The business world has greatly changed since the introduction of the Internet. Today, we live in a world where modern technology is disrupting all industries in one way or another.
Even then, it’s important to understand how disruptive technology affects business operations. So, to ensure your business stays competitive, you have to learn more about the latest technologies and trends. This article walks you through the top four disruptive technologies today. But first, let’s understand the meaning of disruptive technology.
What Is Disruptive Technology?
Disruptive technology is a technological innovation that helps transform how customers and businesses operate. Disruptive technology is recognizably better compared to techs that were traditionally used in businesses.
Here are the biggest disruptive technologies impacting businesses today.
- Blockchain Technology
Blockchain, the technology behind cryptocurrency, is a digital decentralized ledger. This ledger automatically and securely handles digital transactions. The technology stores information in a network of individual computers (peer-to-peer network) to ensure it is self-regulating, eliminating the need to verify transactions manually.
With complex security features, it’s nearly impossible for anyone to corrupt or steal information from blockchain systems. Businesses can safely use blockchain technology for cryptocurrency exchanges and storing sensitive business records like property deeds. Blockchain technology is also useful in efficient and transparent supply chain management.
- Machine Learning (ML)
Computer experts haven’t invented sentient programs, but machine learning is a huge step in that direction. Machine learning is part of Artificial Intelligence that allows computer systems to grow and improve after getting exposed to new information.
That means computer systems powered by machine learning don’t have to be programmed by humans. Instead, they can write new programs for themselves. Businesses using software programs with machine learning algorithms can easily predict market trends, consumer behavior, and popular products.
An example of machine learning in action is customer recommendation engines on business websites. Machine learning enables recommendation engines to study customers’ behavior and purchase history. That way, businesses can provide personalized customer experiences on digital platforms like eCommerce websites.
- Internet of Things (IoT)
This refers to a system of physical devices that are now connected via the internet, with each collecting and sharing data. IoT transforms how we interact with devices and computer systems. It also enhances the capabilities of business devices and computer systems.
For example, a wireless printer can connect to your business network through Wi-Fi, enabling all computers to print to a single printer over your business network. Many workers can easily share the printer without draping cables across employees’ desks—thanks to the Internet of Things. IoT also enables you to remotely turn on or off smart devices in your business, helping you save resources.
- Biometric Verification
This technology measures a person’s unique characteristics—face, retina, and fingerprints—to verify identity. You can use it to enhance security in your business by limiting who accesses certain resources. As a result, only authorized employees and customers can access particular resources in your business.
Biometric verification takes cybersecurity for businesses to the next level. After all, biometrics details are exclusive to a particular person, making it difficult for those with ill intention to crack through your business security measures.
Disruptive technologies are transforming the business world. So, consider leveraging these technologies today to streamline processes in your business and thrive in the industry.