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6 things small business owners need to know in tech this week

Posted 2 years ago in Tech by Alexandra Heber
Posted by Alexandra Heber
  1. Google wants your face to pay. The tech company is working on hands free payments in several restaurants that enable you to pay for your coffee without taking out your wallet or phone. The pilot app, called Hands Free, is still in its early stages and works by using Bluetooth, Wi-Fi or location services to detect whether you’re near a participating store. Simply telling the cashier that you’ll pay by Google, they will ask for your initials and use the picture you added to the app to confirm your identity.
  2. Small business is big business for Facebook. The social media platform now has more than three million businesses actively advertising, with the “vast majority” of those small businesses. The company says it’s still only a tiny fraction of the total small business market and it still has a long way to go. More here.
  3. Glued to mobile. We take our smartphones with us almost everywhere. The tech has evolved into an extension of ourselves and is seen as indispensable by many. According to a recent Harris Poll, mobile phones are the top device Millennials and Gen X’ers can’t let go of. For small business owners looking to talk to these audiences, it means everything you do should be viewable on mobile. More here.
  4. New jobs. There’s no doubt technology is changing the types of jobs, skill sets and services that are in high demand. Automation, robotics, big data and machine learning applied to various industries will help professionals get out from under repetitive tasks and enable them to focus on adding more value by being more analytical and strategic. According to a report by the Australian Computer Society, in conjunction with national science body, the CSIRO, over the next decade positions that will be in high demand include, data analysts, decision analysts and customer experience experts. There’s more here.
  5. It’s not just about online. E-commerce retailers are increasingly looking at how they can capitalize on the traditional brick-and-mortar model. Amazon is even looking at how it can reinvent the physical shopping experience after opening a real-life bookstore in Seattle. It includes placing reviews next to the product, playing with dynamic pricing and displaying related products next to each other. More here.      
  6. Blocking the future. Quartz this week reported that blockchain, the technology that underpins Bitcoin, could find a home in the accounting industry. Blockchain, put simply, is like a global public ledger where information is stored on a distributed network of computers and is completely visible so it can’t be tampered with.  By applying the same technology to auditing and accounting, “all transactions could be logged on an internal blockchain, and recorded centrally,” Quartz said, adding it has the potential to help cut compliance costs as external auditors or regulators could inspect a company’s books in real time. More here.

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