Technology might be an ever-present tool and amenity in most people’s lives. Between smartphone apps and self-service kiosks at airports and restaurants, nearly everything seems connected through tech. However, some industries continue to lag behind the technological curve. Organizations in these sectors may still use legacy or outdated solutions to deliver products and services.
A few examples include telecom, manufacturing, education, and real estate. While these industries are seeing some signs of technological disruption, they have a ways to go before fully transforming. That said, these sectors can start making strides by embracing various tech solutions that exist today. Here are some ways four industries suffering from poor-quality tech can improve.
#1. Self-Service Platforms for Telecom Subscribers
Telecommunications is an industry that includes service providers that deliver internet connection, wireless or cellular solutions, and traditional phone services. To do this, telecom companies often use older and retrofitted technologies with newer developments. Wireless tech and infrastructure may provide both internet and cellular service. Simultaneously, fiber networks deliver broadband internet to some areas and reroute cell tower communications during isolated outages.
This reality means telecom companies have complex infrastructures and equipment to maintain. Customers also deal with a mixed bag of services, depending on where they live and work within a provider’s footprint. This complexity makes onsite installations, troubleshooting sessions, and service requests the norm. Unfortunately, onsite service also means higher costs for providers and longer wait times for customers.
A shift to cloud-based platforms opens the possibility of customers performing self-installations and troubleshooting their own devices. Through a customer experience platform, clients can get their equipment up and running within minutes. They don’t have to rearrange their schedules to meet an onsite technician or wait on hold for a rep. Because customers have more control over their service experience, their satisfaction levels rise. Churn rates go down, and providers save money on truck rolls.
#2. Artificial Intelligence Can Optimize Supply Chains
Pandemic-spawned supply chain shortages keep plaguing the manufacturing industry. Some of these issues tie into the industry’s globalization. Specific products and supplies are usually made in certain areas of the world, causing overdependence on foreign suppliers. Yet domestic supply chain problems can likewise happen because of weather events and transportation hiccups.
Fortunately, artificial intelligence can help provide solutions to the ongoing supply chain debacle. AI-driven programs can predict whether events such as storms and staffing issues will lead to supply disruptions. This tech can also forecast the impact a single event and overlapping incidents will have on supply chains.
With this real-time information, manufacturers, distributors, and retailers can adjust and adapt more quickly. Such adaptations will help prevent empty shelves and extensive delivery delays. In addition, AI will also spot current supply chain gaps and predict the likelihood of future ones.
#3. Online Learning Platforms for Education
Crowded classrooms and teacher shortages are problems the education industry is trying to overcome. Affordability is another major issue for colleges and universities. Only 42% of families are confident they can cover college-related expenses, driving a 5.1% drop in undergrad enrollments.
As K-12 public schools struggle with staffing gaps and available classroom space, online learning could be part of the answer. Remote learning allows fewer teachers to reach more students outside of traditional school buildings.
In higher education, lower-cost e-learning companies are starting to transform the industry. These organizations are making education more accessible and affordable through online courses that give students college credit. Some e-learning companies offer college alternatives, such as certification and training specific to a trade or occupation.
However, schools and homes must have the network and equipment resources to implement remote learning. Tight cooperation between public and private organizations will be necessary to reach underserved populations and communities. Making internet and tech solutions accessible and affordable is a critical step toward adopting online learning.
#4. Centralized Documents Can Streamline Real Estate Sales
The amount of paperwork someone has to sign when buying or selling a home is bad enough. But when a person becomes both a buyer and a seller, the documents can become overwhelming. Negotiations and communications between real estate agents, lenders, and title companies usually aren’t seamless and error-free.
Some of the mistakes and miscommunications that happen are because of a lack of visibility. Real estate agents may not see what title companies verify about pending home sales until they prepare a document. When pre-closing documentation gets in front of a seller, there may be miscalculations in outstanding homeowners association dues and mortgage balances. Likewise, the documents on the buyer’s side may not show promised credits or concessions for repairs.
Centralized document solutions can simplify communication between agents, title companies, lenders, and HOAs before documentation reaches sellers and buyers. If there is an error, shared platforms allow buyers and sellers to point them out and raise questions. This can eliminate phone and email chains that may take days to work through.
Boosting Industries With Low-Quality Tech
Poor and legacy technology tends to exist in well-established industries that rely on what’s worked in the past. Some of these sectors may also experience transitions as companies adopt upgrades and phase out older technologies. In the meantime, customers notice service gaps and frustrations the most. Industries like telecom and real estate can overcome these inconsistencies by embracing tech solutions that streamline the client experience.
