The Internet of Things: An Entirely New World

Some things were so revolutionary to society that it set a new standard; the iPhone, electric cars, and remote work are just a few examples. The brilliance of these advancements is that they consistently innovate and contribute new benefits to our everyday lives. Considering all the technology you have in your life right now, could you imagine it being any more powerful? We need to understand that this is where it’s headed. The extent of which will be surprising until it is met with further advancement.

A key area to focus on when it comes to technology innovation that will benefit everyone is the Internet of Things (IoT). In the simplest of terms, it is a concept that involves data tracking which is then exchanged with other networks. For example, imagine if your car insurance was reduced after trackers in your vehicle established that you are driving safely. Another example can be seen with fitness trackers like FitBits and AppleWatch. These technologies track and store information which we then have access to at all times.

So where does all this information go and what is it used for? The internet of things is the cloud in which all this information is stored. It is then used to customize the experience for regular users. This concept branches out to unbelievable lengths, Barcelona, Spain for example is known as a Smart City. It has earned this term because virtually everything is connected and automated to make them energy efficient, spend money wisely (at a far lower cost), and optimal for those living there.  

The IoT space is a multi-trillion dollar market, we can only imagine the major player it will be in everyday life soon. The amount of problems IoT can solve is immeasurable, but let’s look at a few things to consider if you’re looking to invest time or money into it: 

Connectivity

With the right software supporting technology in these objects, you can have everything done for you according to your needs. The objects of which will be everyday things that are as simple as clothing, watches, or a refrigerator that can then be connected to the internet. 

If we consider how attractive connectedness is to people these days looking at social media, how our devices sync, and even being able to control things from far away (arming a home security system). We can imagine the excitement that’d erupt for everything we use to be connected and much easier to use.

Security

Obviously with this level of information being tracked and stored it is sure to cause concern for our privacy. The major concern when it comes to AI and IoT security is hackers gaining access to these databases. 

This is not a small issue, service providers must have systems that prevent this issue from happening and should not be allowed to sell without proper measures. Manufacturers of these devices then have the opportunity to use their security features as a selling point.

Efficiency

We always search for new ways to do things and make every day just a little more convenient. IoT is efficient in numerous ways, it can save energy by adjusting lighting or temperature controls to the needs of an environment. It can prevent you from making mistakes by giving you reminders or information you may need. Even for a business, it can be adjusted to the technological functions of manufacturing processes or data storage. 

Artificial intelligence (AI) is becoming more relevant in our personal and professional lives. In years to come, AI and IoT will completely remodel the traditional landscapes of industries, economies, and businesses. The ability of IoT technology is endless, virtually any issue you can think of, IoT has or soon will have an answer to.

What’s Next?

When considering what the advancement’s AI and IoT mean for our future, it must be noted that there will be resistance and hesitance with something this new. It may take time to realize that virtually everyone can benefit from this technology. 

It can save our environment, benefit the economy, and even free up time or stress from our schedules. Now it is not perfect and still has a long way to go before we can instill it to this extent. With more research and help from the new generations, it can get closer to a new standard that we don’t look back on.

We work with successful companies to increase their net profits using exceptional custom software solutions, contact us here to see how we can help your business grow!

Planning When There Is No Plan

“Luck is when preparation meets opportunity” - Seneca. How many times have you found yourself unprepared or grossly underprepared? Everyone who has been there knows that it is a gut-wrenching feeling. It reflects a lack of professionalism or care for the responsibilities you’ve been given. 

But wait, unless you simply didn’t put in the time to prepare yourself, how did you end up here? There are many instances when we are given a lack of direction or misunderstand what is expected of us. When this is the case, the plan has failed and it is best to have an alternate route that will guide and help you succeed. 

Here are some common symptoms of a failed plan and poor guidance:

1. Procrastination

2. Frustration

3. Fear of asking questions

4. Poor quality work

5. Making excuses/blaming others

The commonality with all these symptoms is that none of them move you forward. It’s never the right course of action to sit still when faced with complexity. We must look around, identify the priority, and make a call. 

Now, this is of course from the perspective of someone being led. We’re looking at it from here because communication typically starts at the top of the chain and then issues arise as it trickles down. In this instance, it is in the best interest of the organization to have someone good at managing up. 

If you’re a leader, this concept still applies to you as you can and should have an understanding of how to best deal with a failed initiative. If you’re in the mid-level and need a problem-solving boost or are experiencing a leader who needs guidance, these skills should help:

Proactive, Not Defensive

It is entirely natural to resort to defensive behaviour when something has gone sideways as nobody wants to see themselves in the wrong. Additionally, things can happen beyond the control of people (Example: The Covid-19 Pandemic). Ideally, you realize that not accepting the circumstances or finding ways to overcome them is how businesses go under. 

Collaborating with the team and agreeing on an ideal outcome produces the opposite effect. The best companies in the world keep communication transparent and have contingency planning that everyone is aligned with.

Constructive, Not Offensive

The reality of business is that people are going to make mistakes at all levels. Now, these mistakes need to be measured, say for instance if someone is proving to be detrimental to the company. Certain things will require members to put their pride aside and tend to the needs of fellow members. It can be hard to approach, which is why you should have a specific outcome in mind with the actions you take. 

If you have someone in need of an ego check, then explaining incentive to them is critical. Nobody will be able to effectively follow instructions unless they understand why they need to. This is where constructiveness comes in. Being able to approach people and situations like this is an executive skill that once developed will be used forever. 

Conducive and Embracive

Most of the issues companies face can be answered by reviewing what the long-term good of the company is and how to make moves in the short term that invest in it. Getting someone to believe in what you’re doing requires some level of results. Results (no matter how significant) materialize a plan and inspire others to get involved. 

This ultimately comes down to leading by example. If you want 5 friends to go on a run, you don’t sit in a fold-up chair and watch. You lead and express enthusiasm which is contagious to those closest to you. 

What’s Next?

Action is the only source of production for results. Businesses need to understand that changes are inevitable. Additionally, it is important to note that the most intimidating form they come in is when they are unexpected. By collaborating to tackle these instances, your organization can have a far more tight-knit community. 

We work with successful companies to increase their net profits using exceptional custom software solutions, contact us here to see how we can help your business grow!

Fintech Branding: What You’re Missing

This is an era where branding is more powerful than ever. No matter what industry you’re in, connecting with the public is what’s going to set you apart from the competition. As a business, you want to reflect an image that embraces culture and enthusiasm for your industry as well as an appreciation for your consumers. As an individual, building an image in the public eye is important for gaining trust. 

Thriving in your branding initiative is giving an image and voice to your organization and profession. Talking about what services you offer and what needs it fills doesn’t cut it for the new age of consumers. There needs to be something people can connect with.

The new era of the fintech industry is still new to people, with the success of PayPal setting the standard for many companies. Consumers want something they can materialize or else there will be uncertainty and hesitation. Branding is the formula to override this, though it takes effort along with trial and error. 

The main focus of branding in the fintech industry focuses on two key areas: one is trust and the other is empowerment. People need to trust fintech companies and feel like they are ahead of those still using traditional banking. 

With that in mind, here are some things your organization can try:

Content With Value

A large portion of the millennial generation does not have investment goals or even know how to properly invest or build a portfolio. Utilizing social media or apps, companies should take time to develop educational and engaging content for these areas. This move checks both boxes, it builds a trusting connection and empowers people by learning. 

Everyone wants to make the most informed decision possible when it comes to their finances. You can invest in all the advertising you want, but the most valuable content to your audience is based on your knowledge.

Go Mobile 

The average person spends around 5 hours per day on their phone and some as high as 12. There is an enormous window for advertising real estate on mobile platforms. Of course, many companies are riding this wave nowadays by building a social media presence and developing advertisements for mobile platforms.

App development is another major player in the mobile landscape. With an easy-to-use app, you can channel your advertising efforts to promote it. 

Transparency

Directness in your messaging strategy with a clear definition for what purpose your business serves is a far easier and less stressful way to market. Overcompensating will never pay well in the long term. Over-delivering on the other hand is sure to gain attention and build a supportive community around your brand. 

With finance, people need someone they can trust. Learning about a banking system that is ahead of its time will get people talking. The engagement aspect aside, innovation is always a driver of excitement. 

What’s Next?

Branding should be a fun part of constructing the layout for company culture. For fintech companies to consistently engage more users, finding ways to appeal to new audiences is crucial. Like anything, there will be things that work and things that don’t but the key is to find what suits you. 

Your business isn’t unique because of the industry, it is unique because you offer X Y and Z that others don’t, or because your long-term goals as a business means X to your customers. Try things, learn from them, try again and discover what about you as a company is going to be relevant to your audience's future.

We work with successful companies to increase their net profits using exceptional custom software solutions, contact us here to see how we can help your business grow!