Estimated reading time: 5 minute(s)
Estimated reading time: 5 minute(s)
In Singapore, 85% of companies are made up of SMEs, most of them are self-taught teachers, self-starting founders, and self-made makers. It is not easy to be a developer in Singapore as one has to be proficient in one’s profession and their environment has to be conducive. The idea of becoming an entrepreneur is easy but turning that idea into reality is not natural to anyone. Young people tend to be naive and the ecosystem here in Singapore does not teach them how to move, adapt as Singapore is generally a small market.
In today’s world, technology is taking the world by storms it seems to find a way to dominate our society. It is rapidly changing as new inventions keep forging ahead of the functionality of technology. From applications being invented and available in the market for a specific group of people to applications that drastically changed many people’s lives such as Instagram, Facebook and etc. We need to be able to grasp the idea that technology is going to be crucial and essential when it comes to having a business in today’s modern society. Many businesses’ fundamental sector involves the use of the technology such as marketing which is also known as social selling, communicating with their current and potential consumers and as well as their vendors and the ability to showcase their company’s vision and ambition through social media platforms. Microsoft’s Chief Operating Officer, Clare Barclay had advised on implementing the use of technology in all businesses or else they will be left behind.
As technology keeps getting advanced, smartphones simultaneously became essential. People use mobile applications more frequently than web browser as it is less time consuming and easier to operate. Most applications are catered to one’s interest and preferences such as either on entertainment, shopping or work. There are many factors which contributes to why mobile applications have been in-demand for the longest time. It offers a wide range of personalisations, it gives off an ease of sending notifications, the ability to work offline, freedom in designing which leads to a whole new branding experience. It creates a brand presence, users tend to spend more times apps, a new stream of conversions and it loads faster than web sites.
In correlation, the demand for new innovating applications in the market has always been persistent and competitive, many developers are trying to recreate it with inspirations from past related applications. However, developing a new mobile application can be stressful and challenging as it requires a lot of skills, teamwork, hard work and dedication. In order to avoid wasting time, some useful factors are to get some user experiences, indulge in a development environment, focus on one project, source out coding practices and ensure the quality is assurance and promising to consumers.
Subsequently, many companies are on the edge of shifting to artificial intelligence services as the advancement of new technology is increasing rapidly and competitions are soaring among companies and organisations. Artificial Intelligence is so widely popular as it uses Google voice search, facial recognition in Facebook pictures, Instagram shopping suggestions and more. It is exceptionally accurate, saves more time and build to smoothen the business cycle.
From the opposite point of view, it is inevitable that the demand in retail industry is declining as consumers are getting more demanding for more features. Many international brands have been the targets of low sales and insufficient funds to sustain their retail outlets such as MPH Bookstore, SaSa and Crabtree & Evelyn. Therefore, it has led to shutting its businesses and exiting the market completely. In order tp stay afloat, companies have been trying to find a way to increase human traffic and this is where retail innovation comes in. Nike recently opened a flagship store in New York City which is called “ Nike House of Innovation 000 “ and it actually does live up to its name. It implemented both physical and digital experiences for in-store shoppers. It allows customers to reserve their shoes online to try on in store. After arriving in store, there will be a locker specifically with their names on it for them to unlock it with their smartphones. Who says anything about a checkout counter? Mobile payment os made available for consumers who do not want to wait in line and chooses to experience convince shopping.
Companies can emphasise the use of AI in their retail industry by implementing virtual try on 3D products, the ability to look at 3D products at home, gather in store information, use virtual reality fitting rooms which helps to build brand awareness. Relevantly, AR and VR have been widely used in many applications over the past years. It was originally used for gaming purposes but it has been frequently used in the business organisations. AR and VR are becoming more collaborative and sociable as it hits mainstream such as into vehicles, mobile AR disruption, in marketing, architecture and healthcare. The enhancement of AR and VR also can be used in training and teaching purposes and for consumer entertainment. Based on the attributes of what AR and VR can offer to several industries, simply one can answer with certitude that AR and VR will dominate the way we use technology in the near future.
Amid the current situation of covid-19, there is no concrete answer as to when the virus will stop its spreading. It has caused uncertainty in many people, created chaos in the world such as travel bans, certain restrictions to places, school and works to be shifted online based and resetting the world economy. Since many companies have encouraged their employees to work from home, it requires one to obtain the tools of business technology. Workflow Management System is software tool that is designed for a business to operate effectively. It is more than just a software, It disciplines management, focuses on the structure of work within the organisation and how their team collaborates to complete the work. With the aid of today’s technology, many organisations are still able to resume their operation despite physical restrictions as there are many other remote work tools available in the market for communication, inventory tracking, online video conference, presentations and management.
It may be concluded that there is no doubt that technology will surpass all form of inventions and it will continuously benefit us in the our daily lives.