“12.4% of the UK economy accounts for technology and digital business – more than other G20 countries” – CBI, Barclays Fast Growth Survey, Tech City UK
‘Technology’ can be defined in various different ways. From being, “a scientific or industrial process of a specific invention or method to also being known as ‘the terminology of an art or science” (Oxford Dictionary, 2016).
Technology plays a big part in the majority of our lives. Whether it be for business or for individual purposes, we are constantly surrounded by our appliances. From the minute we wake up, we are surrounded by different appliances which have become a necessity to our day to day lives. Relying on a digital alarm to kick start the day, using a coffee machine for a hot beverage then using a car to get to work; what were we doing before all of these developments?
Ever thought about ordering an item online and receiving it within 30 minutes? We could see this happening soon. Retail giant Amazon is paying for the program “which will look at the best way to allow hundreds of robotic aircraft to buzz around Britain’s skies safely” (BBC News, 2016). If proven a success, ministers reckon many businesses could start to use this in the future!
What Drives Technology?
So what drives technology forward? It’s the clear fact that technology has embedded itself into our lives. It’s become a norm to rely on our gadgets to stay ahead of our busy lives we are constantly finding ways of saving time and improve the way things are carried out. In some cases we won’t even realise how much we actually use it for our everyday activities. For example…
- Shopping: People are no longer travelling. They use their smartphone or laptop to do an online shop and get it delivered to their house directly at a convenient time. Hence the nation wanting to have the latest smartphone with 4G for better connectivity.
- Travel: Apps like Uber allow people to access cheaper taxis and track how far away the vehicle is. This is also being utilised for businesses through tracking solutions for a fleet of company vehicles.
- Household: Having kitchen devices that can now be controlled by your smartphone, such as Wi-Fi kettles or central heating. Appliances can now be switched on before you get home.
- Social: Keeping up to date with your friends and family through Skype, Facetime, and text messaging rather than travelling to meet them. More specifically for larger businesses, communicating across multiple locations using O2 Just Call Me allowing more efficient conference calls.
The Technology Sector?
All hands on tech! Thanks to these advancements, the UK tech sector has been growing faster than any other part of the economy for several years. “Since 2010, the number of tech – related enterprises in the UK private sector has risen by 31%” (KPMG report, 2015). This is the equivalent of 45,000 new businesses or, in other words, one additional tech sector enterprise every hour of the day for the past 5 years! Industry confidence remains high, where tech bosses forecast a steady growth for the coming years.
For businesses within the technology sector this can be seen as positive or negative. Positive, in terms of the growing need and desire for ever-changing innovative products, and for their customers to have the latest devices. However on the flip side of the coin, businesses need to be extremely adaptive to change and responsive to trends. With newcomers entering the technology market all the time, it’s important for your customers to be able to distinguish you from the crowd and choose your business. Is your company following the trends? Is your business staying ahead of industry innovators?
With the growth of Britain’s technology sector continuing to outstrip GDP, it is helping to seal the UK’s reputation as a global springboard for new enterprises. For businesses this is a huge opportunity for growth but also to remain competitive and keeping abreast with growing trends. Therefore Welcomm and partners are constantly investing in new methods and technology. The use of digital services for a business on a daily basis has never been more important. The risk of ensuring security with McAfee, accessing files from any location anywhere with Office 365 and secure content collaboration through Box.
There’s also a need for businesses wanting more simplicity, Welcomm and partners are constantly investing in new methods and technology. O2’s 5 year network modernisation plan to roll out 4G amongst 98% of the population by the end of 2017 has nearly been achieved with over 89% now covered. Click Here to learn more.
Moreover, with O2 attending the 5G World Event at London’s Olympia earlier this month, it is clear that a reliance on fast data speeds and network capacity is essential to our working lives. 5G will be the future of mobile technology, bringing a lot more capacity and a lot more speed. Click Here to watch a video.
All in all, it can be hard to predict what lies for the future of technology. With a fairly stable growth rate forecasted it’s not for certain what innovations will follow through. Both consumers and businesses want convenience and the latest technology trends. For businesses there’s a high priority to remain competitive. It’s also vital to ensure the customers’ needs are met effectively. Having the latest software, devices and security will enable you to do this, but also help you to stay one step ahead of your competitors and work more productively.
Is your business ready for the future of technology?
Written by Sonal Haja.