Women in Business and Technology
Technology is ever-changing and evolving; new technologies are emerging and transforming the business world daily. Unfortunately, people and organizations don't have a choice of whether they should or shouldn't get with the program because you need to adapt to avoid falling behind and losing in the long run. On the bright side, technology teaches us adaptability, which is how we stay relevant and innovative.
An excess of technologies are advancing in the business landscape right now. One that most of us are familiar with is Artificial Intelligence and Machine Learning, which helps organizations sort through large amounts of data, improve operations, and analyze customer behaviour, allowing businesses to alter their marketing strategies specific to their consumers. For example, many companies, such as WestJet, use 24/7 customer service chatbots, and Amazon utilizes Machine Learning to personalize product recommendations for their consumers.
Moreover, have you heard of blockchain technology? Yes, it is known for its part in cryptocurrencies. However, blockchain technology is entering diverse industries due to its transparency in recording transactions and tracking assets. The purpose of the blockchain is similar to a digital ledger. Still, this ledger presents itself like a chain of blocks, in which the information is linked and can be distributed across various systems networks. This type of technology is decentralized, meaning no single entity controls it. So, many companies implement it into their operations, such as in their supply chain management or tracking their products' origins, eliminating discrepancies or contaminations in their products.
Evidently, an immense amount of technologies are entering the business world, including the Internet of Things, 5G Technology, Augmented Reality and Virtual Reality, and Biotechnology, among many others. It is very intense and intimidating to think how fast technology is advancing, and we need to understand it swiftly to stay relevant. It's okay because we got this! Indeed, it takes time to become technologically savvy, although by integrating the technologies into our lives little by little and step-by-step, we become more familiar with them.
As students, we are taught to be like a sponge: researching, taking, and comprehending information. With these foundational learning and adapting tools, understanding the new technologies coming our way will take time and practice. Undoubtedly, if you know the basic concept of a topic or idea, you can build on it. For instance, we know how to multiply numbers on paper or calculators, which provides us with a product. Now, take it one step further using a more advanced version of technology; we can use formulas on an Excel sheet: fx =PRODUCT(factor1, factor2, factor3, …). With this knowledge, we understand other formulas, calculate more complex equations, create valuable tables, and dive deep into various processing tools, such as forecasting or modelling.
Regardless, most new technologies released are user-friendly, allowing consumers to easily navigate them while providing helpful support, usually through tutorial videos and in-person explanations. Moreover, technology integrated into an already existing system means the new tool is compatible with the existing system and uses a similar mechanism that would be effortlessly understandable by an individual already acquainted with this kind of technology. No matter what, the key to new technology is adaptability.
The skills of adaptability and tech-savvy are essential in this day and age, especially if you want to stay relevant and innovative. Moreover, these skills are paramount for women. There are many gender biases when it comes to women in the business realm and who hold leadership positions. However, by capitalizing on advancing technology, women gain an advantage in the workplace and are outwardly perceived as more effective leaders. Being tech-savvy in the workplace and as leaders can potentially help shift the effects of gender biases and allow us to overcome them.
So, remember to continually improve your tech savviness because it is a beneficial skill to have, not only throughout one's career but in life, since technology is all around us. Moreover, robust knowledge and understanding of technology can foster inclusivity by enabling individuals to appreciate diverse perspectives, bridge communication gaps, and leverage technological tools to create more accessible and inclusive environments for people with varying abilities and backgrounds. With technology, we expand our horizons in all directions, constantly growing our network connections.