siliconindia | | DECEMBER 202219HOW EVOLVING TECH HAS RESHAPED THE WAY BUSINESSES OPERATEresulting in high level of communication flexibility, and improved teamwork. Apart from this, we now actively use tools, such as Google Drive and Onedrive, where files can be uploaded and edited by multiple people at the same time and clients can be updated on the progress of their project within seconds from any part of the world. Integration of Artificial Intelligence Artificial intelligence (AI) has proliferated in every business process in every industry. It has become imperative for businesses to harness the power of big data, powerful analytics, and AI technologies to maintain a competitive edge over their rivals. AI and analytics can be applied to various operations in a business, including streamlining job processes; aggregating business data; enabling better customer service and support; target marketing and generating more leads; streamlining the supply chain and shortening the delivery cycle; making the business more secure by enhancing cybersecurity; and several others. AI not only makes these processes more efficient but also reduces business costs. And, by analyzing vast stores of structured and unstructured data, organizations can gain deep insights into the customers and overall business operations to deliver better results. Decreased Cost & Increased Productivity The ultimate goal of every business, regardless of the industry, is improved profitability. Technology today is helping businesses derive higher productivity and better results while reducing expenses simultaneously. For example, every organization has certain tasks that require dedicated talent to look over adding to the company's expenses. Several clerical tasks can be easily automated, which would lead to lower costs and increased employee satisfaction as they would then be able to optimize their time by utilizing it on more important things such as strategy and decision-making. Online Marketplaces Technology has provided sellers with access to larger audiences on online marketplaces, which helps retain already engaged audiences while at the same time expanding their reach globally.We now also have the Metaverse that, as defined by Meta, is a set of digital spaces that one can move The ultimate goal of every business, regardless of the industry, is improved profitability. Technology today is helping businesses derive higher productivity and better results while reducing expenses simultaneously
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