Across all forms of industry, sophisticated and innovative technologies have become commonplace. It can give firms a competitive advantage when used correctly and can also lead to productivity and efficiency gains. By way of example, the health sector has relied on the latest advances in technology to deliver improved patient outcomes for many decades. The MRI scanner allowed healthcare professionals to accurately monitor and diagnose patients, which has proved to be lifesaving in those who have suffered from severe traumatic injuries or have undiagnosed illnesses.
The agricultural industry has been quick to adopt drone usage in its operations as this tech can quickly monitor large areas of land, ensuring that crop yields and growing conditions remain optimal. This article will explore two specific types of essential business tech. While many firms are already using this technology, these assets will likely be adopted by a greater number of organizations as 2024 begins.
- API analytics tools
The move to cloud-based services from physical and locally held IT systems has been rapid in the world of business. The global market for cloud services exceeded $480 billion in 2022 and is expected to swiftly rise at a CAGR of 14.1% from 2023 to 2030 as more firms make the transition to the cloud. With cloud-based services comes the need for application programming interfaces (APIs) to allow effective communication between different pieces of software. API gateways are also routinely used to control traffic flows and monitor access requests. However, an emerging trend that will continue into 2024 will be the use of API analytics tools by leading firms.
These platforms allow IT professionals to quickly gain key information and insights into the performance of their APIs. This service can provide real-time information that can indicate the error rates of certain services, allowing companies to take swift remedial actions. In addition, it can form the basis for creating accurate reports and statistics that help to provide a clear picture of key performance indicators for managers and senior staff. In short, this vital technology will become widely used by a range of businesses as their cloud services increase.
2. Collaboration applications
2020 saw the first global pandemic since the Spanish Flu in the form of the COVID-19 virus. In weeks, businesses needed to respond to movement restrictions and lockdowns placed on citizens by governments and ensure business continuity. Remote working became “the new normal” during this period, and there was a need to provide business applications that could be accessed via the internet to support effective working.
While the most serious impacts of the pandemic have seemed to recede, many businesses still choose to offer remote or hybrid models of working to their staff. Collaborative online applications are vital for such staff to maintain high productivity and efficiency levels. Apps such as Trello and other work management tools are vital as they ensure that effective teamwork can take place on projects when the staff are not working in a shared physical work environment.
This also minimizes the risk of duplication of sub-tasks, as live updates can be provided on the progress of group projects. In addition to this technology, video conferencing platforms will likely continue to grow in popularity across businesses. These applications can help to keep a remote workforce informed of business developments and new goals while also allowing companies to reduce their carbon footprint by reducing the need for travel and commuting to work.