The Best Uses of Emerging Technology to Provide a Business Edge
Finding a way of getting ahead of the competition is a key concern for every type of business. With new tools and technology emerging all the time, it's crucial for businesses to look into the latest trends to see what could give them an edge.
Accepting Cryptocurrencies Makes Payments Easier
It wouldn't be fair to say that cryptocurrencies are completely new, since Bitcoin (BTC) has been around since 2009. However, there's no doubt that rising adoption levels in recent years have made it a more attractive option for businesses looking to find the smartest way to send and receive money. This is why BTC and other leading tokens can now be used to pay for everything from cars to hotels, and even that daily coffee you need to kickstart your working day.
This report shows that the number of merchants across the planet accepting crypto payments doubled from 2023 to 2024. Interestingly, 88% of the businesses that took part in the study said that their revenue increased after adding this payment method. To understand why, we need to look at the benefits, such as faster transaction times and added security.
These benefits can be clearly seen in certain industries that have adopted crypto pretty thoroughly. For example, let's look at this crypto slots casino website. They accept BTC, as well as other tokens like Ethereum and Litecoin, meaning that players can send their funds swiftly and start playing slots, including 3 Pots of Coins and A Night with Cleo, without any delay. Winnings can be taken out in the same way, with withdrawals quickly reaching the player's wallet. Transfers tend to happen much faster with crypto than with traditional banks, making them a preferable option for folks who prioritize speed.
Apart from the speed aspect, cryptos are also popular among crypto slots players for their other benefits, like increased privacy and security. New users simply need to sign up and they can then start playing without any worries about linking their bank account or main debit card to the site. Crypto payments are arguably the most secure way of sending money these days, with BTC part of a powerful decentralized network that has never been successfully hacked.
This amusing video short from Slots.lv shows how slot players used to have to rush to cash their physical chips, something that is now done smoothly and almost instantly online when cryptos are used instead - although the same degree of enthusiasm is undoubtedly still there!
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Virtual Reality Tours for Increased Engagement
Virtual reality (VR) tours have emerged as a smart way of letting people see what a business offers without having to physically visit it. This is an effective approach for increasing engagement levels with customers and attracting newcomers to the site. These tours are particularly widely used in areas like real estate and tourism, as they let people make decisions more quickly without leaving home.
This report from Shanghai reveals how Chinese companies are using VR to let visitors undertake immersive experiences across the country directly from an exhibition hall. Apart from the convenience of being able to visit palaces and temples in the mountains without having to leave the country's biggest city, it also provides a way of seeing some of China's top tourist spots without adding to the mass of tourists who visit these places every day.
The kind of immersive experience offered by VR is also worthwhile as a marketing tool that lets people see a product or service before deciding. A product springs to life and becomes more real to the viewers when they interact with it in this way.
AI for a Greater Degree of Personalization
The list of possible uses for artificial intelligence (AI) has ignited debate across the planet, with many different points of view on how extensively we should use this technology to replace human creativity and effort. While generating AI video is now increasingly simple to do, one area where AI has already earned its corn lies in adding a personalized touch to online platforms where users have to choose from a massive variety of options.
Streaming platforms, including Netflix and Spotify, use AI to make sure that the suggestions that pop up for each user are based on their history and tastes. In fact, having an AI DJ that creates a selection of music is just one of the ways that Spotify uses AI. It also harnesses this tech to translate podcasts and create personalized recommendations when you search for something new to listen to.
Casinos can similarly use AI to personalize their recommendations and ensure that the games a player sees are the ones they are most likely to enjoy. This, combined with more effective bonus offers that are based on things the person has played in the past, has vastly improved the overall casino experience for everyone. It's a great demonstration of what AI can do.
Expect to See More Use Cases Emerge
As technology continues to grow and introduce new ways of working, we can expect to see the smartest business leaders take advantage of these changes to get a competitive edge. This means that understanding which tech to use and how to put it to the best possible use is set to be one of the biggest challenges for all businesses in the near future.