The three digital technologies every business owner must understand

Digital technology continues to evolve at an ever-increasing rate. In the past decade, massive growth of the internet, and the proliferation of mobile phones, has totally changed the way we do business.
Whilst this has happened quickly, you can be sure it will continue to change at an ever-increasing rate.

Ten years ago, digital technology was considered the domain of the ‘geek’.
IT developers were referred to as ‘geniuses’, just because they understood the new technology of the time.
CEOs and senior managers relied heavily on these people to make decisions.
Often deferring to their ‘superior knowledge’ of digital technology, executives had no need to really understand the technology themselves.

Those days have long since passed.

In 2017, digital technology pervades our lives and, in turn, our businesses.
So much in fact, that it’s no longer acceptable for a CEO or business owner to not hold at least a basic understanding of the technology affecting, or soon to be affecting, their business or industry.

Here are three emerging technologies that we think all business owners and senior managers should have at least a basic understanding of in 2017;

1. Cryptocurrencies
Based on blockchain technology, the rise of Bitcoin, and the like, will massively affect the way we pay for goods and services in the future.

2. IoT (Internet of Things)
There will be an estimated 70+ billion devices connected to the internet by 2025. And it won’t be just your computer and mobile phone.
How will this affect your business?

3. Artificial Intelligence
AI is already gaining huge traction in many industries and will undoubtedly replace humans in many occupations in the future.
What will this mean for you?