Expert Panel, Forbes Business Development Council
Forbes Business Development Council is an invitation-only, fee-based organization for senior-level sales and business development executives.
New technologies are constantly emerging in this digital age, and many could have the potential to change the way we do business. Companies that want to stay competitive must stay on top of the latest trends and understand which ones will have the biggest impact on their operations.
One simple way to keep up with technological developments is to pay attention to what your fellow industry professionals are using and talking about. Six Forbes Business Development Council members shared the technologies they think will change their profession in the near future.
Six business development experts weighed in on the technologies that could transform business as we know it.ALL PHOTOS COURTESY OF INDIVIDUAL MEMBERS.
1. User Mapping
User mapping is on fire. Companies can now target their clients by studying their navigation on the web, which can help businesses laser target their ads directly to the best prospective customers and generate more closed opportunities. – Wayne Elsey, Elsey Enterprises
2. Artificial Intelligence
Artificial intelligence has been a hot topic in almost every industry, but it’s still something people are trying to figure out. We’re still in the early stages of AI’s application, and its potential is very exciting. As more and more companies start to integrate AI into their technologies, I think it will have a major impact on how businesses operate. – Christian Valiulis, Automatic Payroll System
3. Machine Learning
Machine learning is all the rage. It offers great promises of ensuring sales executives get accurate and timely information on prospects and moments of truth. However, these technologies don’t offer meaningful value until some baseline activities are done. You need to ensure things like sales processes, data entry and buyer profiles are well-defined. – Joshua Asbury, Liferay, Inc.
4. Augmented Reality
I expect augmented reality (AR) to significantly impact how business development executives and their teams work. Biz dev executives could be able to leverage AR to compel and entice prospective customers in a way words can’t. If a picture is worth a thousand words, AR can replace an entire conversation. – Adam Mendler, Beverly Hills Chairs
The blockchain is starting to have more proofs of concept every day, and I feel that with its ability to be secure and transparent, this will make the due diligence process for business development professionals more straightforward. We’ll know that the companies and professionals we are working with are who they say they are and that it’s been verified by others within the network. – Clinton Senkow, Influencive
6. Virtual Reality
The future is going virtual. Today’s virtual-reality headsets can already make you feel like you are anywhere in the world at any time. Currently, technology is being developed to host virtual meetings where you can sit at a table and interact with people from the comfort of your own home. This is powerful and could drastically increase employees’ efficiency. – Alex Kowtun, Monkey In Paradise Vodka