As technology advances by leaps and bounds, its impact on the business world is growing exponentially. For product-based businesses in particular, leveraging the right technology is key when it comes to manufacturing, promoting, advertising and commercializing offerings. Here are several technologies expected to have the biggest impact on product-based businesses.

What new or upcoming tech do you think will have the biggest impact on product-based businesses, and why?

1. 5G Technology

5G allows businesses to build platforms and strategies with reduced power requirements and increased bandwidth. It will provide more opportunities for businesses to cater to customers and give them speedy, reliable service. Smart devices will continue to impact how people shop and what brands they choose to do business with. – Jared Atchison, WPForms


2. Machine Learning

Machine learning will have a great impact. One of the newest technologies that we’ve seen is AI copywriting for e-commerce. Description and copy affect conversions and SEO. If technology can help lift the burden of making effective copy, this will be huge for brands. – Warren Jolly, adQuadrant


3. Internet of Things

Connected smart devices are already ubiquitous and, with the advent of 5G’s lower latencies and power requirements, they will become even more capable. The Internet of Things creates incredible opportunities for forward-looking product-based businesses, both for product innovation and for improvements in manufacturing, marketing and logistics. – Justin Blanchard, ServerMania Inc.


4. Virtual Reality

With increased caution due to the pandemic and social distancing, virtual reality has become a very convenient way for retail businesses to showcase their products. But it does carry along a game-changing habit in that the aftermath of the pandemic could leave many traditional retail operations with fewer customers than they used to get in the past. People may just get habituated to their current buying habits. – Kelly Richardson, Infobrandz


5. GPT-3

Tech is on the rise, especially AI. Generative Pre-trained Transformer 3 (GPT-3) is one of the biggest achievements in the space. It’s essentially the entire internet. However, it can’t scale much further, and being trained on this collective of data brings inherent human bias with it. Quality data is the next step to improve AI, which in turn will be an essential part for any business, especially manufacturers, to not fall behind. – Joey Bertschler, dorfnetz.li


6. Voice and Speech Software

We will continue to see voice and speech software grow over the next few years. The result of this change is going to be more personalized experiences for customers. Instead of receiving vague results with Google Assistant, we will see it pinpoint accurate results that deliver users exactly what they want. – Chris Christoff, MonsterInsights


7. Augmented Reality

Augmented reality will have the biggest impact on product-based businesses. With AR customers can try products before they buy them in real life, which puts your product in more people’s “hands.” It also has exciting product experience implications and transformative marketing potential. This will be great for both businesses and customers alike. – Jacob Tanur, Click Play Films


8. Social Commerce Platforms

New platforms will emerge that will make social commerce easier than ever. Brands should look to expand partnerships with creators and influencers for product placement opportunities through their social media channels. This will require revenue share or paid placements, but it can be highly authentic and expose your products quickly to large desirable audiences. – Andy Karuza, LitPic


9. Cybersecurity Tech

Technology related to security and data privacy will be at the forefront this year, especially in relation to the Internet of Things (IoT) devices. We’ve seen a number of data breaches recently and IoT companies continue to push devices without enough security. In this arena, we should expect to see strict laws and a rise in security tech for home and commercial IoT products. – Blair Williams, MemberPress


10. 3D Printing

3D printing is already a popular way to create products, but it’s going to continue growing as people recognize its significance. Companies can use it to build prototypes, test new products and pitch to investors. – Stephanie Wells, Formidable Forms


11. Image Recognition

Image recognition is already making a big impact on e-commerce and other product-based businesses. This is especially important to know because the majority of online interactions are happening via mobile. It’s important for businesses to enable users to do image searches and reverse image searches. It makes it easier for mobile users to find your business or products and buy from you. – Syed Balkhi, WPBeginner