Arvin Patel, Chief Licensing Officer for New Segments is at Nokia.
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Smart businesses look ahead as 2022 draws to a close, looking to the future to determine how they can keep up with ever-changing technological trends. It is crucial that your company keeps up with technology advances.
I believe that when it comes to technological tools for business, if you don’t make the bet, you can’t make the winnings. These are some areas that I believe business professionals should be paying attention to and preparing for.
The Metaverse
In 2023, we can expect more coherent products and services. Despite all the cynics out there, I believe that the metaverse will be more accepted by businesses and will allow them to integrate the platform into their operations and strategies. I predict that the metaverse will be embraced by the world in unimaginable ways.
Catching your team’s game or shopping for your favorite clothing brands can already be done from the comfort of your living room, but the metaverse takes the at-home experience to the next level, allowing for more immersion.
The Manchester City Club, for example, is creating a virtual Etihad Stadium in the metaverse to allow fans to enjoy the stadium atmosphere from different perspectives. Roblox is used by other brands, such as Nike or Gucci, to enable shoppers to interact with them online and to purchase their products.
Although some major companies have already begun their journeys into the digital metaverse, I believe that more business leaders must take advantage of this space and determine the best way to market their products or services to the new digital realm.
Streaming
Next is streaming platforms dominating the entertainment market for movies and television. Fortune Business Insights projected steady growth to $1,690 million by 2029 according to a report.
I consider streaming platforms the best place for advertising. Exploring advertising options on platforms like Hulu, Amazon Prime or YouTube TV can help optimize your business’s digital marketing efforts. Companies from industries including media, restaurant and bar, finance, tech, retail, food and pharma make up Hulu’s highest numbers of advertising buys.
Samsung has recently launched a Hulu-branded series called Exposure In which contestants compete for phone photography challenges. Using ideas like this as inspiration, business leaders must develop inventive strategies to utilize streaming services’ advertising options.
Data
It is estimated that the volume of data will grow by 40% annually. Although there are many benefits to harnessing this data, security concerns have been raised by the large amount of dependence on it and its constant growth.
Cybersecurity must be a top priority for both government officials and companies in the next year to ensure we are able to protect sensitive data in both public and private sectors. It is important that businesses invest in cyber security in order to avoid cyber threats.
Moving Forward
Good businesses move forward but don’t leave their communities behind. In partnership with Congress, the technology sector must address the limited access many Americans have to digital tools in order to close the digital divide.
Connectivity is the basis for today’s education system, streaming, the metaverse and much more. Businesses must prioritize broadband expansion and 5G adoption. They also need to invest in the hardware and software needed for 5G adoption. This will ensure that the best speeds and most reliable connection are available for every day operations. Connected worlds offer more opportunities for digital users. Businesses can get the most from technology.
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