As a large company, you are always looking to take your business to the next level
With that in mind, here are a few tips on how exponential technology can be used to help businesses increase their bottom line.
What is Exponential Technology?
Exponential technology, simply put, is a concept that incorporates the rule of Moore’s Law, which states that the price performance of computing power should double every 12 to 24 months.
What are Some Examples of It?
Some examples of this concept in use include learning computing, robotics, drones, artificial intelligence (AI), synthetic biology, computing power, and more, which are all designed to increase their price performance twice the amount in the next 12 to 24 months.
How can it be Used in the Corporate World?
Exponential computing can be used a few ways in the corporate world to help companies grow and increase their business. For instance, data analysis or machine learning can be beneficial for collecting important information on your customers, which in turn can be used to help you develop more personalized campaigns to improve customer relationships.
Exponential computing can also be used to help companies lower their costs. For instance, it can be used to help decrease employee workloads by replacing some tasks with algorithms.
How has it Been Used in the Corporate World
Exponential computing is being used by various companies throughout the U.S. and beyond. For instance, some financial institutions are currently using exponential computing to replace more than 75% of their employees’ workloads with computers.
Meanwhile, Amazon.com, Inc. is also utilizing exponential computing for their book business as well as their food business and has also recently signed a patent to fly drones in the city of Manhattan.
Furthermore, it is predicted that many large companies, such as Facebook, Apple, Amazon, will also use exponential computing in the future to possibly enter into other markets, such as financial services.
There are also many startups already in the market who are currently using exponential computing to gain valuable information about their competitors.
How can HR use it?
Human resources can also take advantage of exponential computing to take over some of their administrative tasks, especially in the case of AI. In fact, artificial intelligence can be used to help arrange interviews, obtain resumes, and provide feedback, which will enable HR recruiters and managers to focus on more important tasks.
Founder of Pivot Factory, CEO, Michael Leadbetter, helped to build Singularity University, which is a think tank located in Silicon Valley that provides a business incubator, as well as educational programs that are centered on scientific advancement and exponential computing.
It was during this time that he began to formulate his philosophy concerning digital transformation. Leadbetter is a firm believer in the saying “be disruptive or be disrupted”
Digital transformation is generally focused on, first, creating new business models, then adding scientific knowledge to a current product. Lastly, using scientific equipment to make the core business more efficient.
Leadbetter ends his explanation of exponential computing with the advice, “many of your competitors are already using this scientific knowledge to gain valuable information about you, so if you are not being disruptive, then you could be losing valuable business.”