Know what kind of technology will bring boom in business, Check the WEF report
Mumbai : The Covid-19 epidemic has shown us the need for digitization of the entire process to all the stakeholders of the trade and supply chain. There is also a need to promote new technology in this sequence, so that it is possible to work with better connectivity and collaboration. These things have been said in the new report of the World Economic Forum. The report is titled Mapping Trade Tech: Trade in Fourth Industrial Revolution.
A global survey of this report asked which technology is most effective for companies in business. The highest 59 percent people have described the Internet of Things as the most changing technology used in the supply chain. After this, 56 percent of people have described digital payment, 53 percent said e-commerce platform and 52 percent have said that cloud computing is a necessary technology. After this, AI / machine learning is considered to be the biggest change technology by 45 percent, digital documentation (e-signature and digital identity) 44 percent, smart border system 38 percent and block chain 37 percent.
This is followed by 36 percent of Robotics and Automation, 34 per cent by Digital Service (other than digital payment), 34 percent by Open Supply Chain Information System, 26 percent by Virtual Reality / Mixed Reality. At the same time, 3D-printing (19 percent) and other (1 percent) techniques have been considered necessary after this.
How will it affect business
These techniques will reduce costs and increase business speed, start trading in new products or services, positive results will come and small traders will also be able to make their place in the business. Apart from this, business will also grow due to reduction in transaction costs. Similarly, the situation of large companies will improve and employment will also be affected.
Short duration and long duration
According to the report, the survey shows that in terms of short-term, basic technologies such as digital documentation, digital platforms, digital payments and cloud computing are considered to be the most important. At the same time, the Internet of Things (IoT), digital service and 5G technology are also very important. At the same time, in the long term, robotics, virtual reality, 3D printing and AI will affect the business the most.
