The technology industry is booming faster than ever, especially in today's digital-first world. New innovations spring up every day, from advances in smartphone technology to machine learning and more.
Tech innovations not only optimize business practices across industries, but also afford a better quality of life to consumers. But which ones are the most impressive and useful?
Below, 10 members of Young Entrepreneur Council describe what they see as the best recent tech innovations and why each one is so impactful.
10 Tech Innovations Currently Wowing Business Leaders
- Video editing.
- Video conferencing.
- Tesla vehicles.
- Apple App Clips.
- Ford F-150 Lightning.
- Voice assistants.
- Augmented and virtual reality advancements.
- Non-fungible tokens.
1. Video Editing
Video marketing can be an effective method for a brand to promote its products and services. Just a few short years ago, editing even a basic video took complex software. Now, though, advanced video editing technology is readily available on your mobile device and is constantly improving with new features and easy-to-use interfaces, including recent applications that offer video animation creation tools. —Thomas Minieri, Minieri & Company
2. Video Conferencing
Although Zoom isn’t a recent innovation, its recent surge in popularity has prompted a number of other companies to create digital tools for team collaboration, tracking projects, training employees, sharing content and more. Companies like Eloops, Figma and Bluescape have expanded on the functionality of video conferencing, allowing you to run an entire office through your screen. —Brian Greenberg, True Blue Life Insurance
The new social app Clubhouse has been revolutionary. I have never before seen a platform where people around the world can interact and meet. Now, I’m seeing new businesses, partnerships and joint ventures happening daily; I’ve even seen businesses get funding that never would have had a chance in the past. Clubhouse is really changing how people interact and is the reason every social platform is currently copying them. —Daniel Robbins, IBH Media
4. Tesla Vehicles
Tesla is not just sustainable, tech-forward and affordable; the Tesla culture is also deeply rooted in seeking innovation, which is evident in every piece of hardware that's sold, to the extent that Tesla owners greet each other on the streets across the world. When was the last time you greeted the owner of another car of the same brand? —Fabi Hubschmid, Markaaz
People have talked about 5G for years, but it finally seems like it’s here, at least in some form. In particular, it seems to integrate well with both augmented reality and virtual reality, which can help bring both of those technologies into the mainstream. That development will be helpful in a variety of ways for entrepreneurs and small business owners. —Andrew Schrage, Money Crashers Personal Finance
6. Apple App Clips
Apple App Clips let you use a segment of an app without downloading it. Let’s say you’re picking up a rental scooter on the street. You’d scan a QR code that takes you straight to Apple Pay and lets you pay without having to download the app. Downloading an app takes time, uses up phone resources and can put some customers off using your product. The more you streamline the process, the better. —Cody Candee, Bounce
7. Ford F-150 Lightning
The new Ford F-150 Lightning electric truck is an exciting tech innovation. Prices still need to drop on electric vehicles, but the new Ford truck turns a vehicle into a center that can power electric tools, electric bikes and even your entire home. It has 11 outlets and uses a smart system to operate, providing a great glimpse at what the future of electric vehicles could be. —Jonathan Prichard, MattressInsider.com
8. Voice Assistants
Voice assistants have become extremely popular household products that perform various tasks and can answer almost any question there is. This technology is changing how we receive and consume information and helps people multitask and do things while on the go. In turn, it’s transforming the way we check off to-do lists and search for keywords, phrases or questions. —Stephanie Wells, Formidable Forms
9. Augmented and Virtual Reality Advancements
Although augmented and virtual reality tech has been around for a while, I’m impressed with how common the use of such technology has become. For instance, some cosmetic companies can analyze your skin tone and condition via a phone app and tell you what products you should use. We’re looking at greater accuracy when people shop online and better experiences for customers. —Syed Balkhi, WPBeginner
10. Non-Fungible Tokens
Non-fungible tokens (NFTs) have been the craze these past few months. Blockchain technology is moving from a fringe fad into a proper tool for creating real value in the world today. More and more people are accepting cryptocurrencies like Bitcoin as stores of value, and NFTs give digital assets authenticity. We’re moving toward a world of strong contracts without middlemen. —Samuel Thimothy, OneIMS