Developing Technologies and Their Possible Business Applications

man's hand on a tablet. business technology concept

Being future-minded means that you are always on the lookout for the next big thing and how it might affect your business, be it technology or otherwise. Many developing technologies might seem like they will never see the light of day, but the reality is that many of them do have the potential to see business applications in some capacity. Let’s take a look at some of these oddball concepts and how they might transition to business use in the future.

Repurposing the Heat Generated By Computing

Computers have the ability to output a ton of heat, something that can actually cause damage to them if left unchecked. This is why it is so important to keep your server units and other computing devices cool. Rather than keep the heat down, there is now some interest in taking this heat and using it elsewhere.

Even if the computer or server unit doesn’t enjoy the heat, there are plenty of folks in colder environments that might appreciate it year-round. Considering that cloud servers can be accessed year-round, it might even be possible for computing jobs to shift from cloud servers in the north or south hemispheres as needed to account for the time of year and to utilize the heat more effectively. Cloud servers might even be hosted in residential areas so the heat can benefit the residents.

This scenario actually has some traction already, with a Facebook server in Odense, Denmark providing heat to thousands of homes there.

Medical Diagnostics from the Small Screen

In Star Trek, there is a device called the tricorder. This medical device, used by Drs. McCoy, Crusher, and Phlox, can diagnose illnesses with just a couple of chirps. It’s not unheard of for Star Trek technology to make its way into reality (think of the smartphone as a great example), but some of this technology sat firmly in the realm of fiction until recently.

Researchers have been working on pocket-sized tech to pull off all kinds of diagnostic achievements. Some are accessible, while others are more expensive, like CT and MRI scanning, simply due to the cost of components involved in them. By making them smaller and more compact in nature, it is possible that even these technologies could become commonplace in the future.

That said, science fiction cannot predict the future all the time, and while it might exist in some capacity, this technology also comes with limitations. The advancements might seem impressive, but it is still a far cry from the capabilities of Star Trek.

Raspberry-Flavored Cloud Clusters

The Raspberry Pi and other low-cost single-board computers might be seen as hobbyist toys, but they can be used effectively in the business environment thanks to the redundancy they provide.

Each Raspberry Pi is a single, self-contained device. Therefore, it is secure by nature. A virtual machine, on the other hand, shares hardware with others. The Pi clusters can be used to inexpensively run algorithms while consuming a comparatively small amount of energy. In fact, some businesses are already using these to an extent.

Innovation in IT is always leading to brilliant and interesting ways to take advantage of developing technologies, so make sure you stay on top of things, too. AE Technology Group can help you implement any developing technologies that you see as a boon for your organization.

To learn more, reach out to us at (516) 536-5006.

Blockchain Technology Solutions For Your Business

Blockchain technology concept. Chain in form of pc circuit board with cpu on blue futuristic background.

Blockchain technology might be best known for its use with cryptocurrencies such as Bitcoin and Dogecoin, but that’s just one type of blockchain. There are other varieties that could prove useful in certain sectors. Let’s take a look at what they are, how they might be used, and what some of their benefits and shortcomings are.

The largest benefit of the blockchain, which is essentially a decentralized ledger of transactions, can be seen in Bitcoin, but the shortcomings are also notable. Blockchains consume a considerable amount of energy to operate, making them difficult at best for businesses to take advantage of. Bitcoin operates using what is called the public blockchain; as such, it cannot store sensitive information or proprietary data without putting it all at considerable risk. Here are the four varieties of blockchains that organizations can utilize.

Public Blockchain

The public blockchain is the most open form of blockchain, and anyone can participate in transactions and maintain their own copy of the ledger. The only prerequisite is a connection to the Internet. The public blockchain was the first type created, and it is the most common one used by cryptocurrencies, but it has other applications that could be considered in the future, such as voting and fundraising. All of these uses are only possible due to the openness of the system.

While the openness is a great benefit to the public blockchain, there are other challenges that can get in the way of its use–namely the fact that these transactions happen at a slow rate, which also limits the scope of the network in question.

Private Blockchain

Rather than being accessible to all, a private blockchain is a closed network that is maintained by a single central entity. Unlike the issues with the public blockchain, the private blockchain has greater security and trust within its own operations. Besides this difference in centralization, the private and public blockchains are similar in functionality.

The efficiency of this centralized system makes the entire blockchain operate more smoothly, but at the same time, security is hindered somewhat. Some of the key uses for a private blockchain include supply chain management, internal voting, and asset ownership–all uses that really want that security. It is critical that any organization seeking to implement a private blockchain consider this weakness.

Hybrid Blockchain

When you combine the public and private blockchains, you get a solution that can leverage the advantages of both. A hybrid blockchain allows users to connect to the public network without sacrificing privacy. Organizations can use customizable rules to keep data secure.

There are some downsides to this solution, though. A hybrid blockchain lacks the transparency of other blockchains, and as such, there is no prerogative for organizations to go through the adoption process. Despite this, there are some notable uses for a hybrid blockchain. For example, industries like real estate and retail might find it palatable.

Federated Blockchain

Similar to the hybrid blockchain, a federated blockchain combines benefits offered by the public and private blockchains, keeping some records open while securing others. This is beneficial because multiple organizations might get value out of the network, and thus, keeping it decentralized works in their favor. The federated blockchain is both customizable and efficient, but even with the use of access controls, this blockchain is more vulnerable, less transparent, and less anonymous than the others. Ideas for how to utilize the federated blockchain include banking, research, and food tracking.

Have you considered the use of blockchain technology for your organization? The latest blockchain technology solutions can be a great boon for your business if implemented properly. Contact AE Technology Group for an IT consultation; let our technicians help you determine the best path forward. To learn more, reach out to us at (516) 536-5006.

How to Avoid These 4 IT Mistakes As Your Company Grows

how to avoid these 4 it mistakes as your company grows
Mistakes

Have you noticed that your technology is struggling to keep up as the company expands over time? If so, you’re not alone. Many companies solely focus on increasing their sales without considering whether their technology will be able to  accommodate their growth.

Here are several IT mistakes you should try to avoid as your business starts to grow:

Mistake #1

Your Technology Does Not Align With the Company’s Overall Goals

Your technology should always align with the goals of your business. After all, not every product is going to be a good fit or meet your needs. Once you have outlined the company’s strategic goals, you should only invest in technology that will help you achieve them.

Mistake #2

Your Employees Are Not Supportive

Do your employees know why your company uses certain technology over others? They are less likely to embrace it if they don’t understand its purpose. This can lead to unsupportive employees who can lower the morale in the workplace. You can avoid this mistake early on by explaining to them in detail how your technology ties into the company’s overall mission.   

Mistake #3

You Don’t Explore Your Technology’s Full Capabilities

Technology has made significant strides within the last couple of decades, but many companies are still not taking advantage of all its capabilities. Talk with your managed IT service provider to learn more about how you can fully optimize it. You should also train the employees on how to use your software and equipment.

Mistake #4

Your Technology Isn’t A Priority

Sadly, some small business owners and managers are so focused on driving sales that they forget to prioritize their IT. You can use technology to increase efficiency and productivity. To prevent this from happening, you should work with a dedicated IT service provider to oversee your company’s technology.

Schedule a Consultation Today

For more information on how to avoid costly IT mistakes, please contact us our managed services IT company today. We’d be happy to perform a free audit and give an on-site consultation.

FinTech Has a Daily Impact on Our Lives

fintech has a daily impact on our lives

What is FinTech?

Money is what makes the world go around, or so they say. Everyone is in business to make money, but the degree to which the organization deals with it might vary. For example, some companies, like banks, are designed to make money by helping others manage theirs. Banks and marketplace lenders take advantage of what is called financial technology, or FinTech, to more effectively provide services to individuals or organizations that want to manage, borrow, pay, see, or use their money in more efficient ways.

Banks are more subject to specific regulations, whereas marketplace lenders, or MPLs, are still somewhat on the upswing. FinTech helps them lend, collect, and distribute capital. MPLs have risen in popularity in recent years, and it’s likely because an estimated $7 trillion is at risk of being displaced from the financial services market. They take advantage of modern technology, which ultimately means that they are at less risk overall than with any other non-regulated financial transaction. Legislators are hard at work creating ways to regulate these organizations without keeping them from innovating, but this proves challenging, as there needs to be something in place to protect consumers.

What is FinTech?

Simply put, FinTech is any sort of technology that is used to track or manage your finances. This includes your credit card, online banking systems, and even applications like PayPal. While technology isn’t anything new in this regard, the drastic changes to hardware and software in recent years have fostered growth in this sector, providing new mediums outside of the traditional banking infrastructure. Whereas banks have been run in largely the same way for a long time now, MPLs have a considerably larger amount of virtual capital that allows these companies to invest in ways that other independent organizations could only dream of. Basically, thanks to FinTech, investors have more options than ever before.

These days, most money is flowing through asset managers who take the money and invest it in non-traditional methods through technology systems. Even defining FinTech is an issue at times due to the scope of what it covers, including where the company operates and what kind of lending facility it is. Overall, regarding federal regulations, the latest FinTech models present questionable situations that need to be addressed by legislators. Federal investigators have had their eye on this sector for around five years now, so compared to banks that are somewhat limited in what they can and cannot use their capital for, marketplace lenders have been able to bypass these restrictions to create new opportunities.

Payday Loans

Independent lenders are certainly nothing new for the financial industry either, but they have always had a negative connotation associated with them. One of the more controversial lending organizations out there is the payday loan market, which lets users take advantage of fast money in the form of a short-term, high-interest loan. If the user can pay it back before their next paycheck, then the lender only charges them a small fee. If not, it gets ugly. The loan can be renewed with interest added into the equation. Generally speaking, most people would only need a couple hundred dollars that can’t wait until their next paycheck, but those who need more might find themselves in a questionable position before long. Several U.S. states have outlawed such loans specifically due to how predatory they are, but other locations that have yet to do so are seeing major challenges from FinTech lenders.

Some FinTech lenders are attempting to make getting a payday loan much different. These lenders, including LendUP and Elevate, are offering services where the big difference is that they work with borrowers rather than purposely get them into situations where they are in over their heads. This new FinTech model aims to help borrowers repair their credit by turning toward data analytics.

What FinTech services do you currently use? Would you recommend one to others? Leave your thoughts in the comments below.

Keyboard Shortcuts: New Folder, New Files, New Window

keyboard shortcuts new folder new files new window
keyboard shortcut to create new folder

When you find yourself doing a certain repetitive task on your computer, look for a keyboard shortcut to increase your productivity.  Whether you’re running Windows or Mac iOS, there are keyboard shortcuts to perform a variety of tasks including creating new files, creating a new folder, and opening a new window in an existing program.  Here’s how:

New File

When you are already using a desktop program to write a document, create a presentation, or compute sales figures, you can quickly open a new blank version by using the key strokes below.  This document shows up in exactly the same way as using your mouse to navigate the file menu but in much less time.

Windows: Control (Ctrl) + N

Mac: Command ⌘ + N

New Folder

To use this shortcut, make sure to have your file manager open in the directory you want to add the new folder into.  Using the key strokes below will add a folder temporarily named “New Folder” which you can easily rename to suit your needs.

Windows: Control (Ctrl) + Shift + N

Mac: Command ⌘ + Shift + N

New Window

When in an internet browser or file manager system, the key strokes below will open a new window for you.  In your internet browser the new window will go to your homepage, but the file manager will open the same view you currently have.  A new file manager window can be especially useful when moving a lot of files around.

Windows: Control (Ctrl) + N

Mac: Command ⌘ + N

Advanced Tip!

Speaking of moving files, you may find you want to open the parent folder of the current folder in a new window.  For Windows, this is a two-step process, but Mac does it in one.  Here are the key strokes:

Windows: 

Step 1: Control (Ctrl) + N

Step 2: Alt + Up-arrow

Mac: Command ⌘ + Control ⌃ + Up-Arrow

You can modify many of the key combinations above to perform other useful functions.  With the right tools and people who know how to use them, it’s even possible to create your own shortcuts.  If you’re looking for more ways to increase business productivity through efficient use of technology, please contact us today. Check out our blog for more computer tips and tricks.