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A recent survey has confirmed that the majority of company leaders regard innovation as one of the key priorities.
With the latest technology being used to provide new ways of progressing and making money, this suggests that we should continue to see new products and services appear that take advantage of the metaverse and other cutting-edge technology.
Some of the Latest Signs of Innovation
We can see some of the most important changes by looking at the retail industry, where augmented reality (AR) and virtual reality (VR) are used to provide a blended shopping experience whether the consumer is at home or in a store. This lets them try on clothes virtually or see what a piece of furniture would look like in their house.
The latest streaming technology has been put to good use on this site where you can play online roulette for real money. Their live dealer games are played on a physical roulette table where a human dealer spins the wheel, but the use of AR in some games allows players to place their bets and see them appear on the table. This adds up to a genuine casino feeling that players can try at any time without leaving home.
Artificial intelligence (AI) is another area where changes have been implemented in different industries. This technology is used to provide better customer service thanks to its use in chatbots, while the banking sector uses AI to help clients stay and health providers can make swifter diagnoses with this help.
What Did the Survey Reveal?
This research was carried out by Ernst & Young and they spoke to more than 250 leaders in the technology business. An overwhelming majority of 94% of them confirmed that they currently plan to increase the amount they invest in new technology and emerging solutions, despite the current uncertain economic climate.
In fact, almost three-quarters of those who responded feel that the uncertainty in the economy right is going to provide a positive aspect by boosting their company’s innovation. This is due to businesses needing to adapt their strategies to the current situation and use new technologies to make them stronger.
The poll also revealed that more than half of the executives who took part are planning to make investing in the metaverse one of their main objectives in the near future. We’ve already seen this technology used in many ways such as for fashion shows, product placement, and attempts to gain a higher level of customer engagement.
AI is one of the other main areas of focus, with around 90% of those who took part saying that they want to look more deeply into the likes of OpenAI and ChatGPT. The figure drops slightly, to 80%, when we look at the companies that plan to invest more in AI this year, but it’s worth noting that 56% of businesses are investigating AI with the idea of saving money.
All of these points suggest that we can look forward to seeing more exciting business innovations before long. The idea of investing in the latest technology to get through a difficult economic downturn is particularly important, as it suggests that doing this is no longer considered as being something that only gets priority status during the good times.
