12 Future Trends: Technology’s Impact on Business Innovation

By Greg Grzesiak Greg Grzesiak has been verified by Muck Rack's editorial team
Published on January 31, 2024

In the rapidly evolving landscape of business innovation, CEOs and founders offer their foresight on the technological advancements poised to reshape industries. From the way Computer Vision is transforming various sectors to the potential of AI to personalize fashion customer experiences, explore the diverse perspectives and predictions of twelve thought leaders on the emerging tech trends that will impact businesses in the near future.

  • Computer Vision Transforms Industries
  • Low-Code Platforms Unleash Innovation
  • Transparent Displays Redefine Interaction
  • AI Recruitment Finds Exceptional Talent
  • AI Personalizes Subscription Content
  • Quantum Computing Influences Cybersecurity
  • IoT and Edge Computing Enhance Responsiveness
  • AR Technology Revolutionizes Real Estate
  • Geothermal Drilling Cuts Costs, Carbon Footprint
  • Competency Assessments Drive Hiring Innovation
  • Extended Reality (XR) Transforms Business Engagement
  • AI Personalizes Fashion Customer Experiences

Computer Vision Transforms Industries

In my tenure at Gradient Insight, I’ve been at the forefront of the transformative wave that is computer vision. Allow me to paint a vivid picture of its potential across industries. Take the retail landscape, for instance, where personalized shopping experiences are no longer a fantasy but a burgeoning reality. Imagine walking into a store where shelves intuitively grasp your preferences, offering bespoke recommendations as you navigate the aisles. It’s not merely about streamlining; it’s about revolutionizing the customer journey.

Extend this vision to manufacturing, and you’ll witness more than just automation—it’s about elevating efficiency. Envision a factory floor where machines equipped with advanced vision capabilities detect defects in real-time, ensuring a level of precision and quality control previously deemed unattainable. It’s innovation, yes, but more importantly, it’s a game-changer for entire industries.

And let’s delve into healthcare, where the implications of computer vision are nothing short of groundbreaking. Imagine a system that analyzes medical images with unparalleled accuracy, aiding physicians in detecting diseases at their nascent stages. Here, it’s not merely about technology; it’s about saving lives.

I’ve had the privilege of witnessing the practical applications of computer vision firsthand. From retail to manufacturing to healthcare, the potential is palpable, and the impact is real.

Iu AyalaIu Ayala
CEO and Founder, Gradient Insight

Low-Code Platforms Unleash Innovation

I believe one of the most impactful emerging technology trends will be the rise of low-code and no-code development platforms. These tools allow non-technical people to build custom applications by using visual, drag-and-drop interfaces and configuration instead of traditional coding.

This democratization of software development will unleash innovation across organizations and industries. Already, we are seeing more citizen developers emerge who can rapidly build solutions to pressing business problems without relying on overburdened IT teams. Entrepreneurs are also leveraging these platforms for rapid prototyping and MVP launches.

As these low-code/no-code tools mature, they will expand in capability, allowing more complex, enterprise-grade applications to be developed. Paired with complementary trends like AI, IoT, and robotic process automation, this means the speed of digital transformation for companies will accelerate dramatically. It has the potential to reshape how software is built in the future while allowing problems to be solved in creative ways not possible before.

Sean SpittleSean Spittle
Managing Partner, InspectTrack

Transparent Displays Redefine Interaction

I think we can all agree that AI is on the rise and making a splash in every industry it touches, so let’s not bang that drum and create even more noise! Instead, I’d like to throw out a technology that’s captured headlines at CES this year: transparent displays.

Once we look past the super cool transparent TVs, you’ll start to see what the concept is attempting to achieve. Transparent displays in TVs are allowing homes to feel more homely by eliminating the need to have a large black rectangle occupying a wall. It sparks the discussion around design technology to integrate and adapt.

I really do think this is the start of something that could transform the way we interact with the screens around us. Could it be the next step in driverless cars? Do wearables start to look more organic and replace conventional smartwatches? Do storefronts become more dynamic, eliminating the need to allocate a percentage of the shop floor to a display?

We’re in the early stages of this kind of technology reaching a mainstream audience. As production prices drop and more companies are exposed to transparent displays, I really think it could transform the relationship between people and digital displays.

Andrew GearAndrew Gear
Founder, HRZN

AI Recruitment Finds Exceptional Talent

The obvious answer would be AI, but for me, one key trend I see is using AI to find better humans.

There is certainly some irony, as AI becomes increasingly integral to business operations, the need for exceptional human talent becomes more critical. AI tools in recruitment serve as a bridge to this need, helping companies identify and secure the right human resources.

Recent statistics reveal that between 35% to 45% of companies are already utilizing AI recruitment tools, with over 73% of companies planning to invest in recruitment automation.

But the key lies in harnessing the right AI tool to find the right person. AI in recruitment goes beyond mere resume screening. It encompasses sophisticated algorithms that can analyze a candidate’s skills, experiences, and even potential cultural fit. AI can provide insights into aspects like communication patterns, problem-solving skills, and adaptability, which are often challenging to gauge through traditional hiring methods.

To sum up, as businesses navigate an increasingly AI-driven world, their success will hinge not just on the technology they use, but also on the human talent they employ.

Will ChenWill Chen
Founder, AI Worthy

AI Personalizes Subscription Content

An emerging technology trend we’re seeing in subscriptions is the demand for more personalization—and integrating AI could revolutionize the landscape through personalized content recommendations.

AI-driven algorithms analyze customer data, enabling personalized content recommendations based on preferences and shopping behavior. This will not only improve engagement but also foster brand loyalty by tailoring experiences to individual customers.

To bring this to life, subscription businesses must invest in a technology infrastructure that is flexible and scalable, as the ability to adapt to the latest shifts in subscriber preferences is key to faster, more profitable growth.

Tony AllenTony Allen
Chief Technology Officer, Recurly

Quantum Computing Influences Cybersecurity

As a growth strategist for Codific, a cybersecurity SaaS, I believe that quantum computing is one of the key technological developments that will influence business innovation moving forward. The use of quantum-mechanical phenomena, like superposition and entanglement, in computation is referred to as quantum computing. It is possible that quantum computers will be able to solve issues with artificial intelligence, machine learning, encryption, and optimization that are too complicated for traditional computers.

Many industries could be affected by quantum computing, particularly cybersecurity, which is Codific’s primary focus. Current encryption techniques, such as RSA and AES, which rely on the idea that factoring large numbers or determining discrete logarithms are challenging tasks for classical computers, may be seriously jeopardized by quantum computers.

Nonetheless, quantum algorithms, including Grover’s and Shor’s algorithms, are capable of solving these problems far more quickly than typical algorithms, making encryption methods vulnerable to quantum attacks.

Leo Dahlgren YukioLeo Dahlgren Yukio
Cybersecurity Expert, Codific

IoT and Edge Computing Enhance Responsiveness

In the next few years, combining the Internet of Things (IoT) with edge computing will be a significant change for business innovation. This means data will be processed very quickly, right where it is collected. For example, in smart factories, sensors and machines will communicate with each other and improve production without waiting for data to be processed elsewhere. In stores, this technology will help understand customer preferences immediately, allowing for quick and personalized service.

There will also be deeper integration of AI into everyday human communication. AI avatars will become a regular part of our lives.

Dzhamilia GasanovaDzhamilia Gasanova
Marketing Specialist, Elai.io

AR Technology Revolutionizes Real Estate

That would be AR technology. It is gaining momentum, and it revolutionizes how businesses engage with customers, especially in the real estate sector. Soon, customers will increasingly consider 3D floor plans and virtual tours as essential expectations. Why visit one home in a day when you can virtually visit 10 or more from the comfort of your own home?

John KadiasJohn Kadias
PR & Marketing, CubiCasa

Geothermal Drilling Cuts Costs, Carbon Footprint

The emerging technology trend that will profoundly impact business innovation in the coming years is advanced geothermal drilling technology, specifically innovations like our XDrill technology.

Geothermal energy is not just another renewable resource; it’s a game-changer in the global energy landscape. With XDrill™, we’re tapping into the Earth’s vast reserves of heat energy, which can be harnessed to produce unlimited, low-cost, green electricity. This technology is set to revolutionize how businesses operate, reducing reliance on traditional energy sources and slashing operational costs.

Moreover, the implications of geothermal technology extend beyond just energy production. It paves the way for sustainable development, enabling businesses to reduce their carbon footprint significantly. As we move towards a more eco-conscious global economy, companies embracing this technology will benefit from cost savings, enhance their brand reputation, and meet the increasing consumer demand for sustainable practices.

Andrew Van NoyAndrew Van Noy
Founder & CEO, DeepPower, Inc.

Competency Assessments Drive Hiring Innovation

One emerging technology trend that will have the most significant impact on business innovation in the coming years is the implementation of competency assessments in the hiring process.

I work with over 50 years of professional competency data, and I have seen firsthand that a business is only as good as its team. A company can’t innovate if the people who work there aren’t forward-thinking. Competency assessments can help organizations identify specific competencies in candidates during the hiring process. For example, innovation requires adaptability, which can be measured in a candidate using a competency assessment. Plus, competency assessments are scalable, with easy-to-use and affordable versions available.

Linda ScorzoLinda Scorzo
CEO, Hiring Indicators

Extended Reality (XR) Transforms Business Engagement

From my perspective, the most impactful emerging technology trend is the rise of extended reality (XR).

As a user, I foresee XR revolutionizing business innovation by transforming how we collaborate, learn, and experience products. Immersive technologies like augmented reality (AR) and virtual reality (VR) will redefine customer interactions, employee training, and product demonstrations. XR has the potential to create more engaging and personalized experiences, breaking geographical barriers and enhancing decision-making processes.

This shift toward immersive technologies aligns with changing user expectations, promising a future where businesses can create richer, more interactive, and dynamic engagements, fostering innovation across industries.

Kartik AhujaKartik Ahuja
CEO & Founder, GrowthScribe

AI Personalizes Fashion Customer Experiences

As a trend-customer analyst with expertise in fashion, one emerging technology trend I foresee having a transformative impact on business innovation in the coming years is the integration of Artificial Intelligence (AI) in personalized customer experiences.

AI’s ability to analyze vast amounts of data and learn from customer interactions is revolutionizing the way businesses understand and cater to individual preferences. In the fashion industry, for instance, AI can predict trends, optimize supply chains, and create personalized shopping experiences. Brands are increasingly using AI-powered tools to offer personalized recommendations, virtual try-ons, and even customized clothing options, which not only enhances the customer experience but also streamlines operations.

Moreover, AI’s predictive analytics can forecast fashion trends by processing real-time data from social media, search engines, and sales records. This allows businesses to be more agile in their product offerings, reducing waste and increasing the speed to market. The sustainability aspect is also significant, as AI can help in designing eco-friendly collections by predicting materials and styles that will be in demand, thus minimizing overproduction and excess inventory.

In addition, AI-driven chatbots and virtual assistants are becoming more sophisticated, providing customer service that is almost indistinguishable from human interaction. These tools can handle inquiries, provide style advice, and even assist with post-purchase support, all while collecting data to further refine the customer profile and improve future interactions.

The integration of AI into business models is not only a trend but a necessity for staying competitive in the fast-paced world of fashion. Companies that can effectively harness the power of AI will be able to innovate rapidly, offer exceptional personalized services, and lead in sustainability efforts. My prediction is that AI will not only shape business innovation but will also redefine the landscape of customer engagement and the overall retail experience.

Ann Lee
Fashion Expert

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By Greg Grzesiak Greg Grzesiak has been verified by Muck Rack's editorial team

Greg Grzesiak is an Entrepreneur-In-Residence and Columnist at Grit Daily. As CEO of Grzesiak Growth LLC, Greg dedicates his time to helping CEOs influencers and entrepreneurs make the appearances that will grow their following in their reach globally. Over the years he has built strong partnerships with high profile educators and influencers in Youtube and traditional finance space. Greg is a University of Florida graduate with years of experience in marketing and journalism.

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