Innovation and technology go hand in hand. Innovation is must to bring in new updates and growth in the field of technology. The innovation of technological services has enabled many small and large businesses to reach new heights. Even though using technology may seem to be a complex scenario, it has played a major role in bringing many backwards small scale businesses to the front. Technology and innovation have been redefining each other for quite some time now. With the increased use of technology, it has been made possible for the users to complete their tasks in less time now. Some of the technological innovations that have brought change in the life and market have been listed below.
Augmented Reality
Augmented reality is one of the latest technologies that have changed the face of virtual reality. It has proved to be one of the very useful tools to be used in day-to-day life. Augmented reality is where the physical world interacts with the virtual world in real time. This technology is based on sensors, cameras, projection and processing of information. An example of augmented reality is Car Hunt.
About car hunt: It involves searching for cars and dealers according to location specifications.
Features: Herein users can explore the following;
- Search for new or demo cars
- Search for relevant dealers, browse and save suitable car options
- Locate and provide directions of dealers, contact dealers through email or phone.
Banking and Technology
With the use of mobile phones and internet reaching far and wide, banks have created applications to facilitate users have easy access to banking services. From transferring money to getting virtual passbook, banking application technology helps customers with any information they need regarding their accounts. An example of banking technology is Digital Money Bank.
About Digital money bank: Banking transactions such as transfer of money, Enquiry of Balance and much more can be performed using the application.
Features:
- A digital transaction such as deposit and transfer of money can be performed.
- Online passbook can be generated.
- Internet banking payments can be made across the world.
- Real-time notifications are sent to clients regarding updates in the account.
E-commerce
Ecommerce websites have eased buying and selling of a number of goods online. Many small businesses have profited from the use of this technology. Product information, logistics, stock details, availability, delivery and product details are displayed on the e-commerce websites and application to provide required information to users. An example of e-commerce technology is Flipkart.
About Flipkart: It is an online shopping portal, which features a number of products like furniture, clothes, kitchenware and much more.
Features: Customers can have access to features like details of various products, availability of different sizes and shapes, details of availability in specific locations, easy pay options, cancellation facility.
Health Related Application
Many applications and websites have been developed to facilitate healthy living to people based around the world. From food orders to tracking physical activity, technology has enabled individuals to keep a track of their day to day health care. An example of health related application is Intelligent Food Plate.
About Intelligent food plate: It can be used for identification of Nutritional value of food served.
Features: With this technique, users can easily recognise the food and calculate its nutritional value. Along with users can set targets, record daily intake, manage and track physical activity according to the set goal.
Advertising and Marketing Through Social Media
The world of marketing has revolutionised with the use of social media platforms. As the social media platform keeps influencing the users to a great extent, technological assistance has been made available for businesses to take advantage of it. An example of social media technology is Big Data.
About big data: It can be used to track the traffic on various social media platforms with maximum influence.
Features: It calculates the traffic on different websites for the best use of online marketing. The data can also be collected for appropriate implementation of marketing plans.
Security and Surveillance
Technology has taken security services to new heights. With the invention of latest cameras and digital systems, security and surveillance have become an easy task to do. An example of security and surveillance technology is Surveillance hardware devices.
About Surveillance hardware devices: To capture and record occurrences of events. It is used largely in banks, jewellery shops, etc. for security.
Features: It can be used for recording and conversion of data into different formats as per need. It also facilitates high-speed data transmission to output devices and can be connected to Bluetooth, Zigbee, etc.
Conclusion
While challenges in the market cannot be denied, support of technology throughout has played a major role. The use and demand of innovation and technology have been increasing with every passing day to enable companies to survive in the market. Moreover, companies have also been taking consistent efforts to implement new ideas that can help their businesses reach new heights.