Technology and Advancement in Business

The primary function of business is to keep producers and consumers happy and for this, technology is in extreme demand by both camps. Whether it be manufacturing textiles at quantum speeds at clothing factories, pumping three times more gas through pipelines all over the world or using smartphone applications for novated leasing, technology always grants an upper hand to the service provider while providing comfort and efficiency to the consumer. Understanding technological trends therefore is crucial for staying in the game for rivalling firms and companies, as it is also required for customers or consumers who wish to consume products and services as efficiently and productively as possible.

Everyday, the mainstream media is flooded with articles, images and videos about some sort of a revolutionary development in the virtual assistant business, celebrating a new product or simply evaluating the pros and cons of another. Chalmers Brown for Forbes Magazine investigates into the issue to come up with five advantages of working with virtual assistants for startups. These devices and their software are designed to provide taskmasters so that their users can stay on track with their schedule while they also have Fact Checker and Math Wizards to lead their users to stay in close proximity to the actual, scientific truth. In addition, most of such devices and software come prepackaged with applications that type what their users say while they also house applications for scheduling and prioritizing events and meetings. Most importantly, they have utile security related applications which remind their users to think again about certain issues to protect them from possible harm. Therefore, having a virtual assistant really helps aspiring startups gain a competitive advantage in the ever demanding business reality they operate in which should motivate such firms to obtain one and use it in every aspect of their operation.

The business paradigm of today’s world is a constantly changing one and it is quite common to encounter new ideas and philosophies in virtually every business sector while the business theory itself is also subjected to significant change on a period basis. Vala Afshar for The Huffington Post takes note of this reality to focus on the notion of “Value-as-a-Service” concept which is a business model where cloud computing systems are utilized to create software-as-a-service business solutions as opposed to the previous models where traditional methods were used to create physical products. By utilizing subscriptions and similar periodically paid methods, companies that produce value-as-a-service products increase their efficiency in meeting customer demand as the stakeholders become the focus of business operations. In order to do better business, the companies need to concentrate on understanding such demands and needs to develop the right type of electronic business solutions which not only makes the new mode of business more competitive but also more abstract and imaginative which are both valued highly by the intelligent business communities of our world.

Money and finance have always been central to business and in the digital age, even money itself is transforming into something new which has created vast opportunities for millions of upcoming investors so far. Bitcoin is the name everyone repeats these days but the system itself is actually called Blockchain, referring to online information systems, which aim at storing, distributing and transferring digital currencies which then can be converted into actual money. Robert Hackett for Fortune Magazine reports on the issue to state that the trend has become so massive and popular that even the established venture capital firms such as Sequoia, Andreessen Horowitz and Union Square Ventures are creating cryptocurrency hedge funds, utilizing digital accounting systems and measures. Bitcoin/Blockchain’s main advantage in this sense is that the system connects businesses with their users directly, eliminating advertisers or middle men and making it a lot easier to keep track of the accounting books and procedures. The technology is so attractive to businesses that there are talks of creating TokenBook, a Facebook for businesses and their operations to utilize the given technology. This new system is designed to utilize cryptocurrencies to finance its members and operations while also connecting them on online platforms to catalyze business interactions. Therefore, what started as a revolution of finance quickly transformed into an evolution of the business mind to bring about total change for the paradigm itself and bringing to life an industry dedicated to creating, cultivating and trading cryptocurrencies, such as trading litecoin. As people and companies get used to earning in cryptocurrencies, they will be more inclined towards conducting business online to make more money this way, which will hopefully complete the Blockchain/Cryptocurrency revolution.  

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