The McKinsey Tech Trends Outlook 2022 report provides valuable insights into the state of the technology industry and the trends that are shaping its future. In this blog post, we will summarize some of the key findings from the report and what they mean for businesses.
Nowadays, companies are more than ever before forced to change their business models - for example, switching the entire business to a remote work model or redistributing resources or developing new digital services to adapt to the business situation or meet the changing demands of the market and customers. Changing the business model is very demanding and it is even more challenging to implement it as quickly as possible. The key question is how to speed up the adaptation and overcome the obstacles that hinder it, such as organization, culture, technology, or lack of personnel in today's VUCA world.
Custom software development has become increasingly popular in recent years as businesses seek to gain a competitive edge and streamline their operations through specialized technology. Custom software development refers to the process of creating software that is specifically tailored to meet the unique needs and requirements of a business or organization. This can include developing new software from scratch or modifying existing open-source or proprietary software.
Traditional business models are experiencing rapid changes today, and the use of new technologies and digitization will continue to be the norm for sustaining growth in a hypercompetitive world. The very possibility of choosing between working from home, in the office, or a combination of both models is a departure from the traditional system, and it is clear now that this form of work is not going anywhere.
Software development outsourcing has grown in popularity in recent years for a variety of reasons, including a high-level skill set, time and cost-effective development, a greater emphasis on core company tasks, and so on. According to Statista, the worldwide IT outsourcing industry has already topped $92 billion, with the software development outsourcing industry contributing significantly. If you decide to outsource, before choosing a software development partner, familiarize yourself with the process of the software development outsourcing process itself, which consists of several steps.
No matter if your industry is traditional or modern, if your business sector is hospitality, construction, healthcare, or energy, you need your IT, and especially your software development to work perfectly. But with the speed of advancements in the world of modern technology, which often cannot be followed by proper recruitment rates regarding specialized IT cadre, sometimes it is better to let experienced teams to take care of your system, infrastructure, or project, especially if your company is not from IT sector.
As the hospitality industry in general has faced major drawbacks since the pandemic, many of its traditional establishments are being revised and restructured. Even before the pandemic, the hospitality industry was experiencing a decentralization of accommodations - there are popular apps and websites like Airbnb, various multiple service providers like Booking and Hostelworld and since cheap travel is becoming more and more popular, Couchsurfing is still a popular practice for some. Many of today's tourists and travelers are Millenials or Generations X and Z, and they are a force that cannot be ignored.
Natural Language Processing (NLP) is a type of AI that focuses on recognizing, comprehending, and using human languages. It is one of the most intriguing disciplines in AI, having already led to the emergence of technology such as chatbots, voice assistants, translators, and a plethora of other tools we use daily. Every second, channels such as social media, in-app communications, and forums generate a tremendous volume of text data. And, due to the massive amounts of text data and the extremely unstructured source of data, we can no longer utilize the traditional technique to understanding the text, which is where NLP comes in.
Hotel management systems (HMS) or Property management systems (PMS) are software meant to unify many crucial tasks and features previously done manually, on outdated software and/or robust hardware. It includes various types of procedures like property and housekeeping management, reservations, payments, online booking processing, channel management, automated guest communication, advanced reporting and workforce management. In this blog, we will talk about how proper hotel management systems can be your biggest allies, but also your biggest adversaries. We will explain the most obvious signs that you probably need to refresh your software.
Digital transformation might appear different for each company, so it can be difficult to find a universal concept or a definition that applies to all. We can describe digital transformation as integrating digital technologies into all business sectors, resulting in profound changes in how businesses function and give value to consumers. Digital transformation of a company cannot be done overnight, nor does it represent another new technology addition to the business. It represents a change in the way the company works, a shift in the culture and mindset of both employees and leadership.