6 Reasons Why You Need To Be Embracing Technology!!!
1. Artificial Intelligence is a Friend, not a Foe
(AI) is now accessible to even the smallest of businesses through third-party tools. In 2018, more small business owners will embrace AI as an important competitive tool, using it to automate mundane administrative tasks, unlock customer insights, and much more.
2. Fluid Workforces are on the rise
Today, 42 percent of employer small businesses already use contract workers, and you can expect this number rise in 2018. The rapid rise of the contingent workforce of freelancers and other on-demand talent is making a big splash in the small business world. Increasingly, small business owners are turning to on-demand workers instead of hiring full-time employees to handle project needs because of the incredible flexibility it affords.
3. SMBs Really Embrace High-Tech.
IDC forecasts that small and medium-sized businesses are going to spend $668 billion on IT products and services in 2020 as compared to $564 billion last year, outpacing the growth of the overall IT market. Keeping up with the changes in technology is essential for SMBs; keep an eye out for new opportunities; your competitors are!
4. Millennials—Untapped Potential
A recent study by Nielsen reveals that there are 75 million Millennials living in the U.S. and that 42 percent of them are multicultural: These young people are highly educated and extremely influential—inspiring new trends in culture, food and technology—among their peers, their children and parents. In fact, according to Nielsen, multicultural Millennials spend more than $65 billion each year, influencing potentially $1 trillion in consumer spending.
5. Niche Markets Rule
Millennials in particular, with $200 billion in annual buying power, are passionate about their niche brands, driving the growth of things like microbrew beer and artisan coffee over the big names that have dominated for decades.
6. Digital Payments
Our transition to becoming a cashless society has been underway for decades, with smartphone-based payment systems only hastening the trend that started with credit cards in the 1960s.
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