Ever imagined ordering a late-night meal over the phone without realising you’ve held an entire conversation with a machine?
Technology has improved so much that soon, we will not be able to tell if the party at the end of the line is a computer. Small and Medium Enterprises (SMEs) are beginning to integrate digital technology into their operations and have found the process to be as seamless and uncomplicated as switching on a computer every morning.
As business owners, how can we adapt the evolving trends of digitalisation to our companies and what are the best ways to take advantage of the process?
With the advent of digitalisation, many SMEs have taken their businesses online; marketing and performing transactions. Through social media, many have also started interacting with consumers and collecting data. These technologies may still seem new to us but it is set to change yet again.
We’ve all had that extremely frustrating experience with a chatbots over the phone. Sometimes having a ‘conversation’ with these machines can turn out to be a comedic experience and most of us prefer to just give up. It is the same experience online; we just can’t skip that ‘survey’ part and get on to the website we want!
Robots Are Taking Over The World!
Artificial intelligence (AI) has improved by leaps and bounds. Soon, it will be harder to tell whether we are talking to an actual human or a computer. Improved machine learning algorithms also allow chatbots, online and on the telephone, process what we type or say faster. Although Natural Language Processing (NLP) is still far from perfect, computers are able to process conversations more efficiently and provide an almost immediate response to our queries.
Imagine ordering a packet of fried rice tailored to your tastebuds just by speaking to a computer!
Chatbots also allow for easy and comprehensive data gathering. Keywords can be processed and tabulated to study consumer trends and reviews of products and services. By employing chatbots, businesses can focus their manpower to more complicated duties and let consumers assist themselves through electronic aid.
For home-based businesses which typically do not keep stock on hand, chatbots also automates the ordering process while keeping track of orders.
In The Clouds
More businesses began employing cloud computing to keep up with the massive amount of data collected. Doing so allows for easier access to data from any location and a streamlined method of collecting and storing large amounts of data – all you need is a stable internet connection!
The term ‘Multicloud’ will be the new buzzword for the cloud world in 2020. This comes as businesses realise they require a hybrid of public and private cloud services for applications which require a seamless, secure and streamlined to operate. For most businesses this means the capacity to run workloads in public, private and hybrid environments.
There are many ways businesses can take advantage of the plethora of new data. Commonly used only for marketing purposes, the collected data can be further analysed and converted to artificial intelligence.
The process also completes the ‘loop of technology’ – from simple data to complex artificial intelligence.
In celebration of International Women’s Day, SMCCI’s female wing, DEWI will be launching DEWIDigi 2020, a full-day conference focused on digitisation and business topics. The conference is also designed to bring together aspiring and established female entrepreneurs from Singapore.
Featuring speakers, Datin Diyana Halik and Ms. Amira Geneid; These ladies have amassed a substantial customer base by transferring their business online whilst keeping up with the latest digital trends. They will be sharing their experiences along with other successful business owners. Participants will also be engaged in Breakout Sessions and be given an opportunity to interact with the speakers.
What are you waiting for?
Get your tickets here: https://dewidigi.smcci.org.sg/#buy-a-ticket
Aspiring and established MALE entrepreneurs also welcomed!