Small business owners must always be on the lookout for new trends that will help them stay ahead of the competition. In this day and age things change rapidly and trends develop much quicker than they did in the past. Here are some of the latest technology trends that are taking over small business. 

There are three acronyms that will be heard more and more in the coming months. AI, ML and IoT are the acronyms that stand for Artificial Intelligence (AI), Machine Learning (MI), and the Internet of Things (IoT). These three technologies are changing the world in general and are having a huge impact on small business as well. Small businesses can now access many of the advantages of these technologies at no or low cost. These technologies will provide a suite of tools and tech that can assist small businesses to increase revenue while withdrawing rising costs.  

Banking is breaking from traditional models. Digital banking is becoming a favorite among millennial business owners who want to bank wherever and whenever they want. This is fueling the drive to replace the traditional brick-and-mortar banking solution with a technological first-mindset. Of course, with this online banking model comes more danger of cyber-attacks. 

Small businesses are beginning to use Hyperlocal advertising in a big way. Hyperlocal advertising takes advantage of smartphones. Smartphones can access all our information, and they can very well know about your location. It can take advertising to the next level. Hyperlocal advertising utilizes your location to serve ads relevant to where you are. 

There is more use of live streaming in small business advertising. Video has become a vital component of successful businesses. Smart business owners realize that customers want a real connection. Customers are no longer satisfied with impersonal and generic marketing. Live video allows a business to have a face that can engage you with an audience. 

As a small business owner, it is critical to stay ahead of the curve when it comes to technology.