perpetually connects us to the online world. Technology Our devices represent our digital identity and interests, and facilitate our interactions with people and businesses around the world. People are stuck to their smartphones, installing apps to help them pay, play and more, and businesses follow, shifting their strategy to keep up with consumers. Technology enjoys universal significance today, but its impact is far more profound in countries with the resources and capabilities necessary to fully embrace it. Developed countries with strong networks and cheap data are where technology flourishes. In emerging nations that lack these resources, using apps and other tech is often illogical, if not impossible. Businesses are solving this problem by creating “slim” versions of their apps, designed to run faster, take less space and require less data. — 246 times smaller than their original app. Instagram’s “lite” app is 573 KB Facebook , which they also made a standalone app to save space. shrunk their main app as well as Facebook Messenger Uber used a slim version of their app to , a country lacking the infrastructure of their local American market. save market share during their expansion to India network Most of the modifications made by tech companies are aesthetic, providing consumers in emerging markets with a similar experience and value. And in doing so, they are inherently improving app integration into your electronic devices by limiting any “fluff”. A 500 KB app that meets the same demands as a 5GB app isn’t a necessary substitute for capability purposes, but a resounding success to be celebrated. Businesses streamlining tech to save space may be more than a compromise. This could be the advent of a paradigm shift in how we use and understand technology as a society. A future of technology that focuses on functionality rather than flash. This isn’t about predicting the future of technology, but about providing global consumers with choices across all verticals. Technology and social media have essentially given power back to the people. Consumers are endowed with infinite choices and limitless knowledge throughout the customer journey, making them far more elusive for businesses to attract. Every voice is heard and each drop of information is accessible. Technology strengthens consumers by ensuring that every voice is heard and each drop of information accessible, but it can also empower businesses. Fintech companies are using tech to we’re seeing with lightweight apps. revitalize industries desperate for the type of innovation and customization Essentially, tech is bringing millions of unbanked and unsupported consumers to the global market for the first time, a monumental achievement. It’s being used by companies like to provide small businesses, lacking the capabilities of larger corporations, with . Veem fast and secure global payments Technology is an integral part of our lives. Without it, we wouldn’t have the foundational infrastructure necessary to support today’s cross-border interactions. But it, alone, can’t help businesses find success in a world where consumers know too much. Open your tech up to the world’s consumers, whether they be tech-savvy or tech-suppressed, and you will see more profits than you could have ever imagined.

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Globalizing through Lite Technology

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Marwan Forzley

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Globalizing through Lite Technology

Too Long; Didn't Read

Companies Mentioned

Marwan Forzley

About Author

TOPICS

THIS ARTICLE WAS FEATURED IN...

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