In a world today where over half the news is digested online, we are trialling driverless vehicles, we try on glasses from the comfort of our own sofa and use Alexa to switch on our heating or tell us if we need an umbrella today, it is not hard to see how consumer expectations are changing and how digital solutions play an ever-increasing part in society. The same is true for businesses with a whole wave of technology helping companies to be more efficient, more strategic, faster, and in the cyber security and regulatory environment we live in, to be as secure as possible.
The market is also flooded with Generation Y – or Millennials – who are now between 20 and 35-years-old and are the most powerful consumers in history. Their expectations and influence are very different – they believe and trust online recommendations.
We must, as businesses, tackle these trends and ensure we are the next success story. Do we understand AI, automation, big data, predictive analytics, SaaS, blockchain, the latest social media platforms?
We need to automate as many of the low-level tasks as possible – use technology for workflow and document generation, and at the same time reduce human error and get insights at the touch of the button. Make processes faster, more efficient and safer. Be more secure by embracing Cloud technology rather than try to manage security in-house. Focussing on creating time for yourself to be that trusted business advisor through using the technology and expertise created by specialist businesses. With integration being a key part of the digital journey, today you can easily pull together different systems to work in tandem and solve problems you may not even realise you have.
Dave Newick, MD of Arken.legal takes you through the latest developments in technology – what they all mean and how you can use them to your advantage.