Evolve or lose your relevance. Perhaps this accurately describes how business and services should respond to the changing times especially when technology is guiding the future into some exciting and unknown frontiers.
The Internet of Things (IoT) is leading the revolution and it is predicted to transform businesses and rewrite business models by 2020. While some products and services are now slowly and effectively adapting, others might not make the cut. Here are the business services and products that could go obsolete as IoT gains more ground:
- Portable Storage Devices
Soon, portable storage methods and products such as external hard drives and flash drives will become impractical, thanks to a safer, more convenient, and cheaper access to cloud storage. The IoT will highlight the primary role of the cloud in storing, managing and securing data not only for big companies and their operations but for private individuals in their day-to-day applications. With cloud systems, there will be easier access to one’s files wherever you are in the world.
- Human Service Workers
The food service worker of the future will come in the form of screens, more specifically touchscreens where you can easily place your order and pay via the same device without having to leave your table nor interact with an actual human server. Many restaurants are already embracing this technology and experts predict that in the near future, machines could also take over more complicated tasks from food preparation to bringing and delivering orders to the table.
- Physical Credit Cards
Plastic credit cards could be transformed into digital bits, and although credit card companies will be here to stay, the age of physical cards will be facing an end – and it’s a good thing. Soon, you’ll be paying via mobile and wearable devices like smartphones or computers without having to carry around a physical card. This method will be more convenient and can protect users from fraud and card theft, thanks to these devices’ ability to recognize biometric data like face recognition or fingerprints.