According to studies, small businesses in the United Kingdom will be run by avatars by 2050.
According to Virgin Money’s futurology report, technological developments will enable this in the next decades.
According to UK futurist Dave Coplin, Artificial intelligence and machine learning will power these virtual smart clones. They’ll be able to handle the situation while business owners focus on building their firm and achieving a better work-life balance. Avatars will be programmed as business executives’ identities, and they will be autonomous, able to function, and make decisions on their behalf.
Any small business will be a global business by default, according to the futurologist, with an “army” of virtual professionals capable of conducting business anywhere, regardless of language or time zone.
SME owners will be “human computers” with sophisticated cybernetic implants, giving them instant access to “all the information in the globe” and speaking any language due to the implant’s real-time translation. Meanwhile, people will be able to take images and record videos using bionic eyes, and they will be able to download and upload data using a brain-to-computer link. Microchips embedded indoors will be able to open them and process payments.
According to a poll performed as part of the futurology research, SMEs want to invest in technology to grow their operations. Over three-quarters of UK SMEs (77%) anticipate technology to save them time, allowing them to reinvest and plan for the future of their business. To stimulate growth, an overwhelming 85 percent believe they will invest in technology in the next five years. SME owners said they plan to use data science (39%), artificial intelligence (31%), and virtual reality (26%), among other technologies, to help grow their company. However, a lack of time is cited by 30% of SMEs as a major impediment to advanced technology adoption, while a lack of cash is cited by 39%.