siliconindia | | September 20199Artificial Intelligence (AI)can help improve the responsiveness and quality of customer service via auto-mated solutions like chat bots.Blockchain / Digital Ledger Technology (DLT) enables new business models across all indus-tries, particularly those that rely on secure transfer of digital rights such as licensing of art, music, and software.Before the end of 2019, we will definitely see even more newer tech-nologies in development that will enable benefits to efficiency and cus-tomer experience.Technology as an Enabler As beneficial as technology undoubt-edly is, it's not the end result. No-body adopts a new technology purely for the sake of novelty -- it has to provide genuine business value.At the same time, new technolog-ical advances are available to every-one. IT service providers can't claim new technologies as a differentiator, because for the most part everybody in the marketplace has access to the same technological opportunities.After all, we don't talk about the competitive advantages of the tele-phone. Why? Because every busi-ness has them. The important thing is how businesses use the telephone to promote business objectives.The situation is exactly the same with new technologies. It's not about "what" technology you have access to, it's about "how" you use that technology to produce the desired outcome.In the IT world, the old adage goes that the priority should always be: People Process TechnologyIn other words, technology on its own is of no value unless you have the right people and processes in place to take advantage of. Even if you work backward by developing technologies to fit in with existing people and processes, you need to have the operational expertise to un-derstand where and how an emerging technology can be used to realize a genuine business benefit.As IT service providers, the secret to harnessing the power of emerging technologies is in two key areas:1) Building and maintaining strong customer relationships, and devel-oping a deep understanding of where customers' pain points lie2) Having flexibility in your busi-ness model that enables you to identify and adapt emerging tech-nologies to meet your customers' real-world needs.More Disruption to Come Technology is evolving at a tremen-dous rate. New technologies are be-ing developed all the time, usually before we've even had a chance to see how the previous headline-mak-ing technology will play out.Businesses all over the world are starting to adopt AI, IoT/OT, several unique forms of automation, block-chain, and a number of other emerg-ing technologies -- none of which are fully mature. At this moment, we still don't know the extent to which these technologies will change the way we do business.Despite this, there's no doubt that new technologies will continue to be developed and harnessed for busi-ness purposes.Naturally, IT service providers need to keep a close eye on the tech-nology landscape in order to rapidly identify and deploy emerging tech-nologies that have the potential to solve real-world business challeng-es. At the same time, they must be cautious not to get carried away by the hype of a new technology if it doesn't have clear applications for their customers.For this to be possible, IT ser-vice providers must develop a deep understanding of their customers' business environments. Without this, they simply will not be able to select and develop the best technologies to solve their customers' real-world business challenges. IT service providers must develop a deep understanding of their customers' business environments
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