Businesses have proven their resilience and adaptability in the face of adversity. Despite tough circumstances, many have found innovative ways to not just survive but thrive. Encouragingly, a U.S. Chamber of Commerce study reveals that 64% of business owners believe their businesses are in good health, demonstrating a newfound confidence in navigating future challenges.
Many businesses now view technology as the key to success in the face of uncertainty. Comcast Business has identified essential technology trends that will empower businesses throughout 2024.
Artificial intelligence (AI) will serve as a powerful ally: AI is no longer confined to technology discussions; it’s at the forefront of business success. In fact, the latest reports highlight those businesses using AI credit it for increased success. Businesses can use AI tools to bulk up operations and tackle tasks that they do not have the time or the resources for.
From automating expense management to enhancing the effectiveness of marketing campaigns, AI offers versatile support for business owners. Chatbots, for instance, prove invaluable for front-line customer service agents, easing the burden of providing round-the-clock support. Additionally, by harnessing AI, small businesses, especially retailers, can optimize inventory, align staffing with peak hours and identify opportunities for targeted promotions during low-traffic periods.
While implementing AI may require an initial investment that could be substantial for smaller businesses, and success isn’t guaranteed, there are promising signs of positive impact in 2024.
Delivering digital customer experiences: our research shows that 34% of business leaders recognize the pivotal role technology plays in delivering exceptional customer experiences. And, rightfully so, as a positive customer experience enhances retention, satisfaction, cultivates brand advocates, and has the potential to boost cross-selling and up-selling efforts.
We can expect to witness a surge in businesses upgrading their systems by ditching outdated tech and manual methods in favor of efficient digital processes. For example, a cloud-based point of sale (POS) system to make things more accessible; automated assistants guiding customers with info and directing calls swiftly; or Unified Communications tools to improve employee productivity and communications with customers.
The right technology infrastructure to grow business faster: Today’s businesses can’t get very far without having the right tech infrastructure in place. This includes a variety of solutions that are essential for businesses to keep up with competition and keep customers happy.
Automation software, such as customer relationship management (CRM) software for instance, can save hours of work and cut down on expenses by collecting and managing large amounts of data and completing routine but complex tasks. Mobile technology allows businesses to stay connected anytime, from anywhere, while offering the ability for collaboration-on-the-go.
Additionally, cloud storage helps manage IT costs and can provide reliable backup of information in case anything happens to local devices, and cloud-based business solutions bring flexibility and scalability that wasn’t possible before, especially for small businesses and as the world of work continues to move away from an office desk.
Fast and reliable connectivity as the backbone of business operations: Whether you’re launching a startup or aiming for substantial growth, the right technology infrastructure must include connectivity. Fast and reliable connectivity forms the backbone for efficient operations, seamless communication, and scalable expansion.
From retailers optimizing inventory to construction companies collaborating without a physical office, and healthcare providers enhancing patient services – investments in connectivity open avenues for new possibilities. By adopting a complete connectivity solution — combining reliable Internet, security, and business mobile — businesses can provide more seamless experiences to customers and employees, access data and insights, and help safeguard customer and company devices.
With 79% of CEOs planning to expand technology spending, businesses must embrace these trends for a successful tech transformation throughout 2024. Forming partnerships with reputable companies like Comcast Business can provide businesses with the robust network needed to reinforce their critical technological investments. By staying ahead of these technology trends, business owners can not only weather uncertainties but emerge stronger and more resilient in the year ahead.
