Tech Trends: Exploring the World of Innovation

Mentioning cryptocurrency and healthcare in the same sentence might make some scratch their heads. They seem like two completely different entities without any relation to one another. However, there is a correlation between the two, as cryptocurrency, like bitcoin, can be used to make purchases or entice service within the healthcare industry. Like blockchain, cryptocurrency is not managed by a central authority, making its ease of use one of its most attractive benefits. 

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What is an Automated Information System (AIS)?

You may not know a lot about AIS, but it can help your business. Automated Information Systems (AIS) are computer-based collections of data and software that use the input of various resources to automate the management of operations and information, creating useful output that can help a company make strategic decisions. AIS is a compilation of hardware, software, or both to automate communication, documentation, reporting, processing, and storing information, and typically has a front-end interface where a user interacts with the system, a back-end database or a similar mechanism for storing items such as management reports, real-time transaction processing feeds from other systems, and middleware logic used to tie it all together.

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With the rise of mobile commerce, companies need to constantly accommodate customer demands to ensure their business is keeping up with technological advancements. It is not enough to have a website to sell services and products. According to Allied Market Research, "The global mobile payment market size was valued at $1.48 trillion in 2019, and is projected to reach $12.06 trillion by 2027, growing at a CAGR of 30.1% from 2020 to 2027." In a study completed by Dynamic Yield, three out of four consumers answered that they prefer using their mobile to make purchases to save time. As a business, you must ensure you are able to reduce the barrier to purchase for your customers. Customer-facing applications have become a norm in EUC, which stands for "End-User Computing".

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Today, you would be hard-pressed to find an industry that does not rely on technology, whether directly or indirectly. From healthcare to retail and everything in-between technology is used to gather, share, monitor, and create.

Though similar technologies appear across different industries, they often serve alternative purposes. Similarly, however, technology is designed to streamline day-to-day processes. Although, some may argue that it has complicated things further!

Are you interested about the role of IT across industries? Get ready for 'IT education' as we explore various components of tech uptake across the information technology sector.

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XaaS stands for "Everything as a Service" or "Anything as a Service". It's an acronym for providing any products, tools and technologies that businesses may need as a service instead of on premise or with a physical product. The term has been popularized by cloud computing services, such as SaaS (Software as a service), IaaS (Infrastructure as a service) and PaaS (Platform as a service).

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In the AI-driven era, customer service has evolved to be more efficient and self-learning. AI systems help companies in a variety of ways including improving customer satisfaction ratings, reducing operational costs, and increasing revenue. AI has many other advantages for customer service that human agents cannot compete with — it is always available, 24/7 and never gets tired or distracted. One of the leading AI systems in this area is CBR Systems' machine learning help desk system.

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Any break in the standard flow of a business can result in severe financial losses. Where do these losses stem from? One of the most expensive business interruptions is IT or system downtime. What is system downtime? It's when a technological "glitch" shuts down production. For healthcare companies, it's when servers shut down and your electronic health records become unavailable. No appointment scheduling. No access to patient records. No processing of payments.

There are some estimates that downtime costs range from $427 per minute for small businesses to as high as $9,000 for large enterprises.

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Telehealth can be super convenient, effective, and affordable. With the prevalence of COVID-19, many are now more comfortable with seeking medical advice from the comfort of home, rather than visiting a physical doctor's office. Today, there are many free and confidential telehealth services run by the public health authorities across Canadian provinces and territories. Generally, these services are government-run and match patients with healthcare professionals, all via the phone. Once connected, patients can ask for medical advice on a variety of non-emergency topics. Most of the subject matter will revolve around healthcare professionals advising patients whether or not the particular condition is something that can be managed at home, or something that should be referred to in-person care.

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We have compiled a list of the top HIPAA-compliant messaging apps which provide concise descriptions and key features, assisting healthcare practices and systems in maintaining patient data securely and providing a better patient experience in the ever changing nature of healthcare technology.

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