Oliver Favell recently joined TAP for a day of work experience. During his time with the team, Ollie shared valuable insights into the future impact of technology on businesses, highlighting the opportunities for innovation and efficiency that lie ahead.
Read below as Ollie dives deeper into these topics in his blog article.
For 75 years we have been using computers within the British industry. The impact these marvellous machines have had on profession and businesses is astronomical. Just imagine how much further we will go with technology and A.I advancements. I’ll be explaining the technological solutions provided by smart technology and A.I to professional businesses.
These include:
- Iteration - repeating a process efficiently
- Refining data and storing it efficiently
- Algorithmic thinking, to solve detailed processes
Iteration
Long, mundane steps and repetitions can be erased with the power of iteration. Iteration is the repetition of a process. Computers and A.I can learn from actions we perform in order for them to carry out the same instructions themselves. This boosts revenue as time and money can be spent elsewhere, a simple yet effective tech solution within the industry. Within accounting, companies will need to carry out large calculations many times over. This is a great place for where computers can put to use the power of iteration.
Refining Data and storing it efficiently
With the intuitive brilliance of Artificial Intelligence being so prevalent. It’s no secret that within the future it’ll be used on an incomprehensible scale. One reason of this is due to how fast A.I learns. It can help refine aspects of information, picking out the most valuable pieces and discarding irrelevant topics. For instance, Chat GPT4 can give you specific insights on a topic and only what you need to know or work with!
Algorithmic thinking
Detailed tasks require the simplest of steps. That’s where computational thinking comes in. Much like how a program of python needs to be coded, computers can provide simplified steps to an otherwise inconceivable task. Most notably A.I within the immediate future will be able to take the intricate and reasoned human understanding, and leave a surefire way of reducing human error. This is crucial to improving the process of dealing with detailed tasks.
How can technological advancements benefit clients, employers and employees?
While the contemporary world is constantly developing, it becomes an even greater question - How can technology improve the quality of life for people integrated within businesses and the professional world? For starters a widely used system is SaaS.
SaaS means: Software as a service. Examples of software as a service are emails, online calendars etc.
SaaS greatly increases accessibility of information and speeding up the process of communication between firms and clients within the industry. Things like events can be put out much easier and seen on a greater scale. Employers can hire easier and information can be sorted and stored efficiently.
Wider technology enhances a company and professional as more and more devices are being created, installed and utilised. From electric coffee machines to high tech meeting rooms - technology benefits all.
