Business Management in 2018 can seem overwhelmed in tech jargon. Perhaps you feel as if you are struggling to keep up with the business of business management. The sheer amount of business administration knowledge required to be successful can often keep you from looking ahead and assessing what’s new and exciting. Until it’s too late.
Education and lifelong learning are more essential than ever. It is vital for business managers, business owners and senior administrators to understand which trends are hot and which are not.
Here’s a summary of what’s new in business technology in 2018 – and what it means for you.
Or to put it simply, Man plus Machine. Business News Daily reports that ‘2018 will see the end of the experimental phase’ of Artificial Intelligence. AI is being used to augment performance across business, perform repeatable redundant tasks and process large amounts of data.
Forbes writer Ian Altman says, ‘this is not to avoid human interaction, but to enrich it.’
In 2017, these brand names took AI to new levels:
Blockchain seems to be the biggest business management buzz of 2018. It is the main technology behind Bitcoin and other crypto-currencies and championed by many thought leaders as being in the infancy stages of development and potential, much like dial-up modem technology was at the beginning of the Internet.
Workzone Software expert Andrew McDermott describes blockchain as ‘It’s a completely different way of processing information and Bitcoin is just the tip of the iceberg. In its essence, blockchain is a unique way to process transactions or records. Like a shared document that can be recorded and remembered several different ways. Blockchain is emerging in healthcare as well as financial tech. And no matter the fate of Bitcoin as a currency, blockchain will be here to stay.’
Some current examples of blockchain innovation are:
There are changes in the way business is implementing IT and managing IT spending.
Your mobile device is fast becoming your wallet. This trend is being driven by Millennials and Gen-Z consumers who want to bank when and where they want. Digital banking will grow to over 2 billion users by 2020 and a technology-first mindset will replace traditional banking even more. USA data shows that 80% of customers use online banking and 50% do so on mobile devices. Customers will demand that your business provide instant payment and banking solutions, or they will go elsewhere.
A career in business management or business administration is enhanced by keeping up with what is new and trending in technology. CEOs, upper management, and business owners are looking to hire qualified diploma graduates who have relevant knowledge and expertise in these areas now.
