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Technology Trends Transforming the Future of Business

Today we are surrounded by such amazing technologies that are constantly making our lives easier and more comfortable. Technological advancements are more impactful in the business world. Because to compete and succeed in this digital world, adopting modern technologies is no longer optional. And many upcoming technologies will be game-changers for businesses.

Here are Some Top Technology Trends that will Take Businesses to the Next level

AI and Machine Learning

Artificial Intelligence (AI) is that horizon of the modern age which can bring many possibilities. AI enables machines to imitate human behavior (like decision-making, learning, perceiving, etc.) and even exceed it (cognitive computing). Machine Learning, considered as a subset of AI, has shaped the way of interaction with computer equipment.

AI and Machine learning have already begun to change the business world. From product planning to manufacture or identifying customers to help them find the desired product, these technologies have proven themselves effective in almost every sector. Companies like Google, Facebook, and Amazon are using AI and Machine learning for improving the searching experience and simplifying customers’ shopping experience. The MIT Sloan Management Review — “2017 Artificial Intelligence Global Executive Study and Research Project” found that 85% of executives believe AI will help their businesses gain or sustain competitive advantage. Economists have addressed AI as a core empowering technology of the — 4th Industrial Revolution. According to them, AI will contribute $15.7 trillion to the global economy by 2030.

Big Data Analytics

The term, ‘Big Data’ is used to refer to those massive and complex data sets which are beyond the capacity of traditional data processing and storing applications. Big Data Analytics assembles all the required tools for processing and analyzing those huge data sets. Reports from International Data Corporation (IDC) claim — the global data volume to grow from 4.4 zettabytes to 44 zettabytes between 2013 and 2020. IDC predicts the data volume will reach 163 zettabytes by 2025.

Now, big data is invaluable for today’s business. In this competitive world, every organization, large or small, needs insights and data of their customers, suppliers, vendors, and so on. Big data Analytics makes it possible for businesses to process huge amounts of data. Thus, a company can use those data for making more informed decisions, identifying actual customers and improving customer service, better marketing campaigns, and effective operations. So the more data you can manage, the more money you can make.

Internet of Things (IoT)

We now live in a world where not only devices like computers and mobiles but almost every possible thing that can be connected is being connected. From home appliances to mechanical machines, vehicles, digital devices — all are being web-enabled. This vast network of billions of connected devices all over the world is creating what we call the Internet of Things (IoT) or the Internet of Everything. All the connected devices of IoT are provided with unique identifiers (UIDs) and have the ability to transfer data over a network. The number of IoT devices is estimated to be 30 billion by 2020. IoT is expected to generate a global market value of $7.1 trillion by the same year. Again IDC predicts — worldwide spending on IoT will pass $1 trillion by 2022.

Growing IoT brings new opportunities for businesses as well as the challenge of managing large amounts of data. Industrial IoT (IIoT) enables manufacturers to process and analyze data from connected equipment, operational devices, locations, and people. They can increase automation by using IoT to a large extent. Also, businesses can enhance customer services through real-time insights.

IoT is changing the way things work. Because everything is connected.

Edge Computing

Today for every industry, storing and processing growing amounts of data is a major issue.  It’s a big challenge indeed — skipping latency as well as saving time and cost. Here comes Edge Computing which ensures time-efficient data processing and analyzing with minimum use of bandwidth. The thing is, at the edge of a network, data tools (servers, processors, storage) can be placed as close as possible for the real user of the data. It can be done by reducing cloud processing and distributing those processes locally (on edge servers, user’s computers, IoT devices). The distributed computing paradigm makes it possible to minimize latency as well as high-speed data processing.

Edge computing will enable businesses to store data in their suitable locations. Then processing data at the network edge, they can minimize the cost and time of cloud processing. Thus, by using Edge computing, companies can analyze real-time data. It will also help to ensure efficient and fast manufacturing by reducing field hazards. Tech giants like IBM, Microsoft have already started to develop infrastructure for Edge computing.

5G

5G is one of the most anticipating technology trends of recent years. From its developing period in 2018, it has created a buzz around the world. Since it is almost in the finish line, big players are boosting their adaptation process for this immense power.

5G stands for fifth-generation cellular networks or communications. Among its major features, ultrafast data transfer speed (10 to 20 Gbps or more), lowest latency & fastest responsiveness, huge network capacity — are astounding. It will give more reliability and increased availability. 5G will be the key for businesses to maintain full wireless operations and get rid of cable threads. By connecting a massive amount of IoT devices, 5G will enable companies to operate with maximum efficiency. According to the study of Qualcomm, 5G will provide $13.2 trillion dollars of global economic output by 2035.

Industry experts believe that 5G will work as the backbone of major future technologies. Rather than a telecommunication network, 5G is considered as a user experience.  Don’t worry, you can download your movie in just 2 or 3 seconds with that.

Virtual, Augmented & Mixed Reality

Virtual reality (VR) is a simulated experience that immerses users in a fully artificial environment. Augmented reality (AR) is an interactive experience that overlays virtual objects on the real-world environment. Encompassing both AR & VR, Mixed Reality (MR) produces a whole new environment where physical and digital objects interact in real-time.

Most people know about VR. AR has become popular in the last few years. And MR is no longer a tech that can only be seen in hollywood movies.

VR, AR & MR have become a big industry with exciting innovations. Popularly used in the gaming, entertainment and training sectors, these technologies have a huge potential for every business. Their application will enable customers to experience real-time virtual interaction with new products and services. Construction and product-driven industries can use these techs for designing and visualization of their products. The most popular example of MR tools would be Microsoft HoloLens. Other big players like Google, Apple, Facebook are making a huge investment in VR, AR & MR related techs.

Autonomous Vehicles

Yes, science fiction is becoming reality. Over 40 companies around the world are involved in developing autonomous or self-driving vehicles, among them Tesla, Alphabet, and Waymo are prominent. By using a variety of sensors, control algorithms & connectivity, Autonomous vehicles are capable of sensing its environment and moving safely without human involvement.

Due to multiple implications for businesses, the Automotive industry is growing rapidly. Autonomous vehicles will be benefited mostly for transportation, shipping, delivery, supply chain & logistics, energy, agriculture, infrastructure, and other related sectors. Developers believe these vehicles would be a better option for cost-friendly long-distance travel.

According to ABI Research, around 8 million autonomous or semi-autonomous vehicles will be on the road by 2025. During an event, Elon Mask, founder and CEO of Tesla and SpaceX, has stated, “From our standpoint, if you fast-forward a year, maybe a year and three months, but next year for sure, we’ll have over a million robo-taxis on the road.”

Blockchain

Anyone familiar with cryptocurrency, would have heard the term, ‘Blockchain’. In simple words, Blockchain is a distributed, decentralized, and open record-keeping system (ledger) of digital transactions. Thus, It is defined as a Digital Ledger Technology (DLT). As its name suggests, a blockchain is made up of blocks of information strung one by one and each block must contain a unique code of the previous block called cryptographic hash. Whenever a transaction occurs on a supported network, a new block consisting of transaction data will be created after being verified by the parties/computers of the network. Though open or public, it is almost impossible to manipulate this system because of being immutable.

Blockchain has become a buzzword in recent years and is now considered as one of the most crucial technologies for future businesses. The costly and laggy approach is a major problem for every business while transacting assets. Blockchain has the ability to become a more secure, transparent and cost-effective alternative to traditional transaction methods. Also, it will speed up the financial operations and make them more efficient and faster.

Cryptocurrency

Cryptocurrency is a digital or virtual currency that can be used as a medium of exchange while making online transactions. Based on cryptography, cryptocurrencies require the digital ledger technology — Blockchain to record transactions. In 2009, a person or a group named Satoshi Nakamoto launched the first ever cryptocurrency called Bitcoin along with blockchain.

Unlike paper currency, cryptocurrencies are decentralized and not authorized by any bank or country. But increasing online transactions using smart payments, make businesses reconsider the traditional payment methods. Thus, cryptocurrency is the potential alternative to reshape the financial face of everything. It will ensure a faster and easier transaction without third parties (bank or credit card company) involvement.

After the price jump of Bitcoin in 2017, industry experts are taking cryptocurrencies seriously. Facebook is already working on its own cryptocurrency project called ‘Libra’. Some small and big companies are trying to develop Stablecoins, a type of cryptocurrency that are backed by reserve assets and can offer price stability.

Automation

Automation is no longer just about production with advanced machineries and robotics. It has become a technology trend aimed at giving new momentum to every business activity. By using various automation tools and softwares, businesses can automate their operations. This will help to reduce costs, human errors and procedural delays. Automation is also applicable for small businesses. They can use a variety of automation tools that help them stay competitive.

Over the last couple of years, the rate of automation in every sector is growing rapidly. Tech giant Amazon is now running its cashier-less automated grocery store — Amazon Go. Currently, on average 51% of companies are using marketing automation — according to Emailmonday. However, in most cases, automation is reducing job opportunities, but companies are focusing on automation to provide greater customer value and become more productive.

Technological advances always bring new business opportunities. And in the near future, technologies will reshape every business process.

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Business Stories

Future of IT in Bangladesh

Information Technology ( IT ) has changed the world in modern days. IT is the special use of computers to store, extract, transmit and manipulate data or information. IT is considered as a subset of Information And Communication Technology. Humans have been storing, extracting, transmitting and manipulating data or information as a written format since Mesopotamia. Modern day technologies have upgraded the system and made unlimited storage. 

Over the last 7 years, the offshore IT market of Bangladesh has grown at a good rate. In fact Bangladesh has already become one of the best places for IT players in recent years. With the ability to operate at least 20-30% lower cost than any other countries of South Asia, Bangladesh gives a large entry-level workforce. 

The IT industry in Bangladesh helps the national economy a lot. This industry not only helps the national economy but also creates a prestigious position in the global market. The domestic market size was US$ 0.9-1.1 billion in 2017. But in 2020 the size is US$ 2.3-2.6 billion and the income is increasing. As a result the government of Bangladesh has given their interest in this sector already. Bangladesh has a large population and they are really interested to work in this sector. On the other hand, the cost of working in Bangladesh is really less than other Asian countries like India, Philippines, Pakistan etc. So the present state of IT industry in Bangladesh is really good. 

An IT based company wants a lot of things and Bangladesh is completing those wants. Supply of electricity is the first basic wants of a company. Bangladesh is producing as much as electricity. So there will be no load shedding in future. Then Bangladesh is connected with SEA-ME-WE 6 fibre cable. So the internet speed is good enough and increasing day by day. An IT company  needs that type of internet speed. 

Bangladesh is a country where anyone can build a business and carry on that. People easily get attached with those products. An IT company produces software, cloud computers, databases etc and people of Bangladesh always accept them properly. So the foreign investors are finding interest in investing in the IT sectors of Bangladesh. As we can see, the future is really bright for the IT sector. 

Moreover the government will make 100% corporate tax exemption till 2024 and 80% VAT exemption on rentals and utilities. The Bangladesh government is setting up 25 high-tech parks and software parks across the country.  The decision ‘50% personal income tax reduction for foreign employees for 3 years’ has given a wide range for the foreigners to work with this country’s people. 

Every year a lot of students are completing their graduation, post-graduation degree and trying their best to get a job. Unfortunately there are not enough job opportunities in Bangladesh. In this case the IT sector  is creating a big space. In an IT company an employer doesn’t need to be physically present. So he/she can work from a long distance. 

Bangladesh is mainly focused in the USA and the UK based IT sectors. Now the situation is changing and other rich European countries are also beneficial for the future of Bangladesh. So Bangladeshi IT companies are searching for the future market for Bangladesh in those countries.  

Bangladesh has limited liabilities but if the people utilizes these properly, the situation will improve. Bangladesh has the potential to play multiple roles in the service delivery portfolios of global companies. Bangladesh can be called a hub for the regional market. As the domestic market is poised  with remarkable growth, the government as well as private sectors will invest a lot in the IT industry in future. So the future of this industry is really on top of the mark. 

Bangladesh offers a compelling blend of quality talent at a lower cost with a risk profile much lower than commonly perceived. The proposition is further accentuated with sensible government support to boost foreign investments. Bangladesh has positioned herself as a strong contender for companies appraising locations for the next wave of cost arbitrage.  There are certain challenges regarding infrastructure, talent adjustability and data protection. However the government and industry have adopted bold measures to assuage their impact and create a harmonious ecosystem for the growth of the IT sector. It is important for companies to consider  Bangladesh to understand the nature of risks that exist and how they compare with other peer emerging locations in order to make an informed decision based on the ability to manage or mitigate such risks.    

Written By

Md. Istiak Ahmed
Faculty Of Business Studies 10th Batch
Department Of Management
Session: 2019-2020
Mawlana Bhashani Science And Technology University, Santosh, Tangail.

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Top 10 Global

Top 10 Tiles And Ceramics Companies in Bangladesh

top 10 tiles and ceremics companies in bangladesh

In Bangladesh, people use tiles and ceramics to decorate their houses, gardens, and office premises, and to add an extra layer of beauty to the buildings. Tiles and Ceramics Companies are silently booming in Bangladesh and there are a number of tiles and ceramics companies who are doing great over the years in Bangladesh. Under a trade body named Bangladesh Ceramic, Manufacture & Export Association (BCMEA), Bangladesh has international standard export-oriented companies of tiles and ceramics too. The tiles and ceramics of these companies are really good. All of these companies are showing their abilities to beat the competitive market. We have gathered here 10 Tiles and Ceramics Companies in Bangladesh.

Source: The Daily Star

List of Top 10 Tiles and Ceramics Company In Bangladesh

1. DBL Ceramics Limited

DBL Ceramics Limited is one of the leading ceramics tiles manufacturers in Bangladesh. At the end of 2016, DBL started its operations and in this short period of time using creativity and unique design, this company has come a long way. This company is passionate about continuously learning, growing, and serving and they always care for its customers, associations, stockholders. The products of this company are Polish, Porcelain, Wall Tiles, Technical Porcelain, Decor Tiles in various designs as well as shades.

Address: 2nd Floor, House 10, Road 04, Gulshan-1, Dhaka 1212, Bangladesh  | Phone: +880-2-9127574

2. PORCELANOSA Tiles Bangladesh

Porcelanosa Grupo is a Spanish brand. In association with Nupami Bangladesh Ltd. Porcelanosa had launched its product in Bangladesh. This Spanish multinational brand offers a large range of products to the customers and their products are really world-class. The main products of this company Floor Tiles ( ceramic stone, ceramic parquet, porcelain tiles, anti-slip flooring ), Wall tiles, Kitchens( kitchen furniture, kitchen taps), Bathroom Equipment Solutions ( rain shower, shower rings, bathroom taps, bathroom accessories) 

Address: Nupami BD Ltd. 40/7 North Avenue, Gulshan-2, Dhaka-1212. Bangladesh. | Phone: +88 01793 5677404 | Website: bd.nupami.com

3. BRAVAT Bangladesh

BRAVAT is a German multinational company and committed to building an elegant style with premium quality. This company always keeps its eye on their customers to know the customer’s tastes so that they can make the best product. This sanitary ware manufacturer company which produces luxurious, stylish, charming, brightening products like an electronic faucet, magic cube, square round, countertop basin, semi-recessed basin, under counter basin, intelligent toilet, bathtub, bath furniture, shower enclosure, etc are favorite to their customer.

Address: Dahmashi Trading Company Limited, House 34 (First Floor), Road 19/A, Block E, Banani, Dhaka 1213, Bangladesh | Phone: +880 2 9840545, 9820909 | Website: www.bravat.com.bd

4. MIR Ceramic Ltd

Mir Ceramic Ltd is a Bangladeshi company. This company is one of the leading ceramic and porcelain tiles manufacturer companies in Bangladesh. This company was established in 2001. In 2002, this company started commercial production. Italian brand SCAMPI has provided all the machinery for this company. This company produces porcelain tiles, ceramic wall tiles, granite floor tiles, homogenous stair tiles, industry tiles. Another special product of this company is Mir polished tiles.

Address: House # 13, Road # 12, Dhanmondi R/A, Dhaka – 1209, Bangladesh. | Phone: +88 02 8110131

5. Great Wall Ceramic Industries Ltd

Great wall ceramic ltd is the largest tiles and ceramic manufacturer of Bangladesh. The world-renowned Thai brand name COTTO in association with Bangladeshi brand CHARU used to run this company. This company is enriched with various designs and technologies. This company serves the desire of the customers. Quality products and best service to the customers, employees working environment is good, profitable, and responsible growth are the vision of this company. Different sized ceramic wall tiles, rustic wall tiles, homogenous, homogeneous & porcellanato print, décor, and border are the product of this company.

Address: 28, Navana Zohura Square, Kazi Nazrul Islam Avenue, Bangla Motor, Dhaka – 1000, Bangladesh. | Phone: +88 02-55168031| Factory Address: Gilarchala Sreepur, Gazipur, Bangladesh.

6. China-Bangla Ceramic Industries Ltd

China-Bangla Ceramic Industries Ltd also known as CBC Tiles is one of the top ceramic manufacturing companies. It was founded in 2001. It is a joint venture in private between Bangladesh and China. This company has sophisticated technology which helps them to produce quality products. This company is successfully producing a wide range of ceramic wall tiles, floor tiles, decor tiles, glazed porcelain tiles, border tiles, homogeneous tiles.

Address: National Plaza (4th & 5th floor), 109, Bir Uttam C. R. Dutta Road, Dhaka-1205, Bangladesh. | Phone: +88-02-9668278-9 | Factory Address: Tarabo, Rupgonj, Narayanganj, Bangladesh. | Phone: +88-02-7453908 | Showroom Address: Noorjahan Bhaban (1st floor), 23, Poribag, Hatirpool, Dhaka-1205, Bangladesh. | Phone : +88-02-9612986

7. Akij Ceramics Limited

Akij Ceramics Ltd is a Bangladeshi company. It was established in 2012. Since the establishment, with hard work, innovation and patronage from the customer, this company is getting stronger. Nowadays, this company has become one of the strongest players in the tiles industry of Bangladesh. This company uses international standard machines to make products best from all. Wall tiles, homogenous floor tiles, ceramic floor tiles, porcelain printed floor tiles are the main product of this company. This company also produces a premium bathroom and kitchen tiles called VANITA.

Address: 4th floor, Akij House, 198, Bir Uttam Mir Shawkat Sarak, Gulshan Tejgaon Link Road, Tejgaon, Dhaka-1208, Bangladesh. | Phone: +880 1755621492-3 | Factory Address: Trishal, Mymensingh

8. RAK Ceramics (BD) Ltd

RAK Ceramics is a multinational ceramics tiles manufacturer. This company is situated in the UAE. In 1998, UAE-Bangladesh joint venture project named RAK Ceramics (BD) Ltd started running under the rules of a private limited company act 1994. This company is one of the leading ceramic solution lifestyle providers. Using the experience, the product range of this company has enlarged a lot. Ceramic wall and floor tiles, décor and borders, junior tiles collection, rustic glazed tile, industrial tiles, grease porcelain tiles, sanitary ware are the main product of this company. Different types of accessories like paper holder, urinal bowl, towel rail, shelf, bidet, soap case are also made by this company. 

Address: RAK Tower, Plot#1/A, Jashimuddin Avenue, Sector # 3, Uttara Model Town, Dhaka – 1230, Bangladesh. | Phone: +88 02 8917393

9. Star Ceramics Bangladesh Limited

Star Ceramics Bangladesh Limited was founded in 2012. This is a Lebanese Bangladeshi joint venture ceramic tiles and sanitary ware manufacturing company. This company always keeps its focus on the quality of the products, customer satisfaction, and various innovative designs. This company makes world-class products by understanding the customers’ needs and requirements. Enriched with the latest technology and modern equipment, this company makes tiles and sanitary wares.

Address: Star Ceramics Limited. House # 44, Road # 10, Sector # 11, Uttara, Dhaka–1230, Bangladesh. | Phone: +88 02 8950384

10. X Ceramics Ltd

X Monica is The Italian Brand Tiles. Established in 2008 in Bangladesh, this company has become one of the leading tiles manufacturers in Bangladesh. A large amount of research, customer interaction, and a good production line has helped this company to establish in Bangladesh. The main fact is that this company adopted cutting edge technology which helped this to overcome a large distance in the market. Wall tiles, floor tiles are the main product of this company.

Address: Index Point, Road 12, Plot 34, Baridhara Diplomatic Zone, Dhaka – 1212, Bangladesh. | Phone: +88 01755-555133

Sources: Wikipedia, Bangladesh Business Directory

Contributor: Md. Istiak Ahmed | From Mawlana Bhashani Science and Technology University

Note: These are not Official Ranking From Any Established Authority. Business Haunt Picked Them Randomly and Placed on the Base of Popularity and Internet Source.

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