How innovation will change they way we do business

Facial recognition software. Interactive video displays. Wearable technology. These are just three different ways that new innovations in hardware and software are starting to affect businesses and consumers the world over.

Technology is being embraced by companies looking for new ways to find a competitive edge and deliver a more comprehensive experience for their customers and employees. The best technology is used to enhance and enrich the experience a user has with a brand. There’s no point jumping on to the bandwagon of using new technologies unless you clearly know what you want it to achieve.

Innovation in your business means doing something new, different, smarter or better that will make a positive difference.

Here are some of the ways that technology is changing the way we do business and the way we behave as consumers:

The Internet of Things

The internet of things is a move to see a world that is even more connected than it is at present. From household appliances to modes of transport, there is a widespread movement for everything to be connected.

At present each household has on average 12 connected devices, predominantly phones, laptops and TVs. This is predicted to be closer to 70 devices within the next two to three years.

This has a huge impact on retailers who are having to adapt to deal with the new demands this places on their business. They will also have to deal with huge streams of data and it’s not inconceivable to think that in five years time the ‘smart’ home will be able to know more about us than we know ourselves.

Wearable Technology

Wearable tech is hitting the headlines in 2015 primarily due to the release of the Apple Watch. It’s big business and is shaping new behaviour patterns. It also goes hand in hand with the internet of things. We’ve only just scratched the surface of what wearable tech can do but increasingly it will become a highly personal way of linking us to our surroundings and our interactions with them.

Facial Recognition

This isn’t just the domain of law enforcement agencies! Facial recognition software is increasingly being adopted by marketeers to deliver a highly-targeted form of visual communication. Elements of the technology consisting of facial detection and modeling are being used more widely in industries like medicine, beauty, and even finance. It’s also being used in interactive displays that use the technology to deliver specific content to the user. For example, shopping malls in South Korea use facial recognition in their information displays to suggest what stores the customer might like to visit.

Software advances

More powerful, cloud-based software is helping businesses revolutionise the way they work. As well as empowering employees, developments in software are changing working habits allowing business management to happen from anywhere. The cloud also allows software updates to happen automatically, improves security and has been proven to make businesses more productive.

Embracing innovation leads to increased turnover, increased efficiency and increased productivity.

At Quinyx, we use innovation to combine business management functions to help business reduce costs, save time and increase productivity.