3 Technology Trends for Businesses in 2018 91

3 Technology Trends for Businesses in 2018

This article was written by Emily Jones.

We have all seen how the Internet Of Things is progressively changing the world and the way we interact. Introducing new methods of communication, reducing distances even more, and leading to a completely interlinked society.

Eventually in the near future printing machines will build cities and orbital space stations. And robots linked to external servers on the Cloud will take over many of the jobs humans will not be able to do.

The technologies available today surpass in greatness all prior expectations and self-driving cars/planes/trains, AI assistants, robotic waiters, receptionists and even citizens (see Sophia the first robot made citizen of Saudi Arabia) are already a reality.

The use of AI/VR technology coupled with Cloud Computing applications has also benefitted both users and the business world.

They have helped small businesses gain leverage in an ever-increasing and competitive market that is so saturated with vendors and in which customers and users struggle to navigate to find a solution for their individual needs.

So given these considerations, what are the technology trends that are going to affect businesses in 2018? And how will they affect big/small business and entrepreneurs in general?

No longer are employees confined to a physical office environment.

The work environment will be drastically affected as the rise in popularity of ‘mobile offices’ increases thanks to the many new AI/IT/Cloud tech applications entering the market.

Many people are now able to work from anywhere. They like using their smartphone or other multimedia device—whether from the comfort of their own home or while on vacation getting a tan. This is a trend that is already being encouraged by many CEOs, managers and employees.

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Not only will it save on office space rent and energy costs. But also add to the benefits of using Cloud servers which help save on expensive hardware like multiple laptops and cables while reducing bureaucracy, increasing productivity and enhancing collaboration and sharing of ideas among all company levels.

AI is Making Big and Important Changes to Different Aspects of Business.

Processes like Machine Learning and Natural Language Programming (NLP) use Emotional Intelligence, Text Mining, Semantics Technology and Cognitive Intelligence in order to process and make sense of human language, speech and behaviour. Meaning the capabilities of AI within a business are massive, and can save companies a lot of time and money, as well as preventing simple errors from occurring.

AI Virtual Assistants are able to utilize these processes in order to more accurately gather vital business information and data from conversations with clients or customers. They can then use this information to find quick and easy solutions to problems without information being lost or sent to the wrong departments. They can also anticipate future crises, determine future fluctuations in customer demand or satisfaction and rearrange the supply chain accordingly.

Amazon Alexa, Apple’s Siri and even Google Assistant are all examples of a virtual assistant that can sift through the whole gamut of data on the internet and process and filter the appropriate solutions for customer queries or business needs.

Thanks to Targeted Marketing, companies can now use the tools of social media outlets like Twitter, LinkedIn and Facebook to send posts along a programmed timeline or in feedback to the choices of clients/customers.

This can then increase a company’s presence and visibility of a product or service. The Cloud/AI partnership has extended to include VR tech. It is already gaining popularity among some businesses, which use virtual conferences to interact in real time without having to travel to business meetings overseas.

HR departments are also using Skype or apps like Facetime more frequently along with VR conference rooms to interview potential job seekers.

This is only some of the technology and apps available which continuously enter the market at an increasing pace.

It is vital for companies to keep up to date with the emerging trends and determine beforehand what specific solutions they are looking for. Maintaining a trained team of IT/Cloud computing experts that can understand and implement the new tech is always a good strategy to help keep ahead of the competition and increase productivity.      

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One Guy’s Journey from a Work-at-Home Transcriptionist to Starting an Educational Institute 7

One Guy's Journey from a Work-at-Home Transcriptionist to Starting an Educational Institute

This is an interview-style post with Mahesh Kumar.

Hey Mahesh. What do you do?

I’m the Spokesperson of the Transcription Certification Institute, an Ellensburg-WA based educational institution that provides an in-depth online transcription training and certification course.

The online course, which is created by industry leaders, enables transcriptionists to gain a well-rounded understanding of the field and become a professional transcriptionist for better job prospects and higher wages.

How did you start your career?

I’ve started my career as a home-based transcriptionist and have experience of 8+ years in transcription industry. I’m currently on a mission to help work from home moms and make them aware of one of the straightforward and lucrative way of earning money from home, i.e., transcription.

I love writing and so I regularly share my words through my blog. At present, I am working as the spokesperson of Transcription Certification Institute.

What inspired your journey?

I was not cut out for regular jobs because of health and family issues. But, I wanted to earn decent money.

Most work from jobs required me to be online during fixed hours. That did not work for me.

A friend referred me to a copywriter who needed transcription services in an extended time frame. This was my first assignment and exposure to the industry. I had issues with grammar and lots of difficulty in understanding accents. My transcriptionist friend gave me the very first lesson in punctuation. It was a great lesson.

That was the aha moment!

I wanted to share it online with all other new transcriptionists. My expertise in transcription was still limited but my interaction with other transcriptionists. And other work from home professionals found that there was no organized information in this industry.

That’s when with the help of the team we created an ebook as would serve as a handbook to transcriptionists. It was called Everything You Need To Know About Work From Home: General Transcription Business Opportunities.’ It’s available on our website for free.

What is the transcription business about?

It’s a dream that allows parents, caregivers and those with disabilities to stay at home and earn.

We call ourselves Team TCI. None of us has complete skills but together we have made a dream into a business that is sustainable, profitable and manages to help others earn more.

We like to think of ourselves as not just one single successful business owner but a team of accomplished transcriptionists and hedonists who have come together to share their expertise on a platform that is globally accessible to all.

Our objective is to make you a better transcriber so that you can earn more at the same time. 

Through our internship program, we ensure that new wannabe transcribers get a foothold in the industry. Our job board aims to bring transcribers and employers together on one platform to make hiring and finding jobs easier.

We are 9+ years old but the journey has only just begun.

What were your biggest challenges when setting up the institute?

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Together, we had 2,459 dollars to spare!  This was just enough to put up a website and host it for a year.

We had no budget, no marketing plan and no strategy.

More than money we invested our skills, time and above all intent. When we launched, making money was not the objective. The objective was to share information, educate and in the process recover the costs.

We were totally bootstrapped. In fact, we all transcribed extra hours to generate money.

Each year we invested the money earned in the course, it’s upgrade, website upgrade and more. All exams are manually graded and that is expensive.

What do you offer on the website and who can benefit from it?

We offer a course in general transcription.

Our course is for anyone who wants to work from the comfort of their home, enjoy flexible timings and the ability to choose workload. The course is very popular with parents of young children who want to be around when they grow up, ex-serviceman with disabilities, single moms and others who want to work from home.

Some would say that there is nothing to be learned in general transcription but that would not be true. I did start out without training and if it not had been for the help I received my career would not have been successful.

In fact, as the popularity of transcription as a career option grows getting a foothold in the industry is becoming tough. That is why we came up with an internship program that gives hand on experience to new transcriptionists and exposure to the industry.

The job board benefits them by bringing employers and transcriptionists on the same platform.

What’s one thing you do to unwind?

We were introduced to meditation a few years back and to unwind we like to meditate.

What’s your favorite book?

It keeps on changing but time and again for inspiration, I find myself reaching out to The Alchemist by Paul Coelho. Never stop dreaming! Give context to your dreams!

Check out the story of how one guy went from a work at home transcriptionist to setting up a transcription institute and help others start working from home.