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Regardless of what industry you are in, and whether you realise it or not, digital transformation is driving businesses as a result of the internet of things (IoT). The ability to adapt your business to embrace this disruption is the most crucial action you can take to stay competitive and retain your employees.
Artificial intelligence, and IoT devices like Amazon’s Alexa and Nest smart-home products, now dictate the way we consume information. While this consumption at home is known to impact the way we live, the same can be said for how businesses input and analyse data, mobilise company structures and drive day-to-day operations.
To embrace the changes in the way that we work, it’s important to understand the vital changes that face businesses as a result of IoT. So what does IoT actually mean? Simply put, it’s not just about being connected to the internet, but focused on everything being connected. From a smartwatch to social media, right down to a smart city, IoT has taken over the world.
With industries investing in data literacy and relying solely on technology to carry out business operations along with everyone being connected to the internet, the changing work patterns of employees has carried the spotlight for a few years now. This has helped the gig economy in a huge way, but has also put employers under pressure to trust their full time employees more as the strict confines of standard working hours are becoming less important in comparison to productivity. Digital transformation combined with a rise in mental health awareness, has given employees a voice to create a better culture, including the request for flexible working and part time contracts.
In fact, according to Canada Life Group, 77% of employees feel more productive due to flexible working.
With the growing trend of driving digital transformation within a company’s business model, the capability of artificial intelligence and revolutionary technology like blockchain is paving the way for the change needed to adapt to today’s demands. IoT plays a huge part in this development across the globe as data sharing and tracking of consumer behaviour is helping to offer a better user experience. In doing so, consumers feel a more personalised experience tailored towards their individual requirements.
In the recruitment industry, there is recruitment technology available that can help determine where candidates are looking for roles, giving the visibility to recruiters as to where to post job vacancies. Smartphone technology is another example of IoT dominating our day to day lives. Smartphones give the functionality to book meetings, post new jobs and contact candidates at the touch of a button.