Tech Trends

That Every Entrepreneur Should Be Keen On

By Danielle Holland-Ingram

2017 has been a crazy year full of amazing and downright mind-boggling advancements and reveals in technology. With CES 2017 bringing us all kinds of crazy innovations, our minds are left wondering what on earth could possibly be next. If you are an entrepreneur, these advancements may leave your heads spinning wondering how you’ll be able to grasp the effects of these trends on your business.

Well, first thing is first. In order to gauge how trends in technology can impact your business for better or worse, it is first essential to remain up to date on said trends and technologies. By remaining well-informed and aware you can stay one step ahead of the curve and mold your business to fit the ever changing economy and industry. So, if you’re looking to make an impact and remain relevant, then feel free to check out our list of the top five tech trends of 2017.

1) LIVESTREAMING

Content has always been king but if one thing is for certain it’s that video content reigns supreme. It used to be that any sort of video content served a significant boost in engagement with online viewers and audiences. However, with the onset of recent technology we are finding that photography and dated video are soon to be kicked to the curb for something more organic and authentic – livestreaming.

Apps such as Periscope brought livestreaming to mainstream audiences and several companies began to take notice and follow suit. Within the past year alone we’ve seen almost every major social media platform incorporate livestreaming into their base --everything from Youtube to Facebook and Instagram. Now there are countless livestreaming platforms including newer contenders such as YouNow grabbing the attention of MTV Networks and more. Broadcasters are making a living and their doing it because businesses are seeing the advantages of advertising with real people to real audiences.

2) AUGMENTED REALITY

Augmented reality is set to explode this year with apps such as Pokemon Go showing us how insanely addictive and viral this technology can get. Augmented reality is set to explode this year with apps such as Pokemon Go showing us how insanely addictive and viral this technology can get. It has seeped its way into every single aspect of every single industry and is only going to continue to grow exponentially. Social media platforms have definitely taken notice with Facebook winning out in the bidding war for Masquerade in order to maintain relevancy in the face of Snapchat’s acquisition Cimagine.. Instagram quickly followed suit and offered several additions as well in their various filter lineups including several animated ones.

3) AUTHENTICITY

If one thing is for certain – organic is back (not that it ever really left). People now more than ever are looking for a personalized experience in everything. Consumers want something real and research is showing that it’s just not millennials but everyone across the globe who is getting tired of the same old jargon and infomercial advertising. Now more than ever consumers want to know that a brand actually cares about them and cares about the world around them. They want corporate responsibility – they are beginning to demand it and they want the brands they choose to be authentic.

3) ARTIFICIAL INTELLIGENCE

Artificial intelligence has been around far longer than 2017 but it’s just starting to take a hold of the mainstream consumer. Products such as Siri and Alexa have burst onto the scene with overwhelming success and popularity and as a result people want more.

With technological expansion and growth has come an ever increasing and insatiable desire for instant gratification. Artificial intelligence has helped to satisfy this for consumers around the world by being implemented in endless novel and practical manners. We’ve seen chat bots, automated agents, personal assistant gadgets, robotic animals and house products and various algorithms and apps which have worked to significantly increase business productivity and anticipate your needs before you do.

The downside of all of this of course is that several of these advancements will have negative effects on the job market as now more than ever so many positions are becoming fully automated. However, with artificial intelligence comes a new frontier for consumer gratification and with the prospect of exponential growth we are excited to see where it leads us.

4) E-COMMERCE

E-commerce has always had its place in the spotlight ever since the inception of the internet, however it is definitely set to explode in 2017 according to several trend predictions. With the expansion in technology comes more and more ways to monetize and online shopping has been booming due to the instant gratification aspect of things. Amazon continues to be the number one contender especially with their onset of Amazon Prime, overnight and even same-day shipping. Most businesses have taken advantage of this trend and if you haven’t – you may as well be living in the Stone Age.

5) MICROINFLUENCING

With the recent decision in social media platforms to reduce organic brand post visibility. Businesses have flocked to these platforms to advertise their products and services to a consumer base in a more relatable and authentic manner. However, this time, they’re mixing it up and doing things a bit differently.

They’re using microinfluencers. Microinfluencers are individuals on social media sites which have a significant and/or targeted following which brands would like to gain exposure to. These brands can be everywhere from fledgling startups to heavy hitters. Research has shown that making use of microinfluencing is not only more cost effective but also overall more effective in general. Gone are the days where brands are relying solely on the Kim Kardashians and Derek Jeters to push their products and services to an audience.

Now more than ever they are targeting every day people with a solid social media following and engagement rate in order to promote their products to audiences and the change in direction has brought promising results.

Regardless of your niche it is always imperative to remain well-informed and aware of trends in technology in order to keep abreast of the curve and ahead of your competitors. Shifts in technology can be earth shattering to business owners and make or break your future. Staying aware of trends enables business owners to remain competitive, visible and relevant in a world of global competition where companies are dropping like flies due to swift technological advancements rendering businesses irrelevant at the drop of a dime. Don’t be that guy. Stay ahead of the game and be proactive.