Technology trends for Minnesota’s biggest companies are providing for safer employees, better patient care, and a more secure energy grid. Minnesota is home to several large and innovative companies across a range of industries, from healthcare and retail to technology and manufacturing. Evolving technologies, like the Internet of Things, Artificial Intelligence and Machine Learning, Data Analytics, and Cloud Computing are driving innovation and change at Minnesota’s biggest companies.
MedTech: Technology Trends at Medtronic (Minneapolis, MN)
Medtronic, a leading medical technology company with U.S. operations based in Minneapolis, Minnesota, has been investing in digital health technologies such as remote patient monitoring, wearable devices, and AI-powered diagnostics.
An example of this investment is the recent announcement of its partnership with BioIntelliSense. Together with BioIntelliSense, Medtronic will distribute the BioButton which can monitor up to 1440 vital signs – in home or at the hospital.
Retail: Technology Trends at Target (Minneapolis, MN)
One of the largest retailers in the United States and headquartered in Minneapolis, Minnesota, has been focusing on digital transformation and personalization. The company has been investing in technology tools to improve inventory management, order fulfillment, and delivery speed. Target has also been using data analytics and AI to deliver personalized experiences for customers through its mobile app and website.
An example of this is shared with us from Forbes.com. Artificial intelligence (AI) is employed by Target to suggest products in response to searches, assist with demand prediction and ordering, and streamline operations throughout the supply chain.
Manufacturing: Technology Trends at 3M (Maplewood, MN)
3M, a multinational conglomerate that produces a wide range of products, has been investing in Industry 4.0 technologies such as the Internet of Things (IoT), machine learning, and cloud computing. The company has been leveraging these technologies to improve operational efficiency, optimize supply chain management, and enhance product development.
An example of this is that C3 IoT will be utilized by 3M to create and implement AI applications, initially focusing on predictive healthcare and supply chain analytics, according to ZDNET. Additionally, 3M has the option to extend the use of C3 IoT to other enterprises and tailor SaaS applications to optimize inventory, detect fraud, improve CRM, and forecast maintenance needs.
Agriculture: Technology Trends at Cargill (Wayzata, MN)
Cargill, a global food and agriculture company, has been exploring the use of precision agriculture technologies such as drones, sensors, and data analytics to improve crop yields and sustainability. The company has also been investing in digital tools to improve supply chain transparency and traceability.
An example of this is Cargill’s Unmanned Aerial Systems (UAS) division which is utilizing and spearheading drone technology in diverse applications. This year, their endeavors have progressed significantly as Cargill shifts towards replacing personnel with drones to inspect their facilities, thereby providing superior safety measures.
Energy: Technology Trends at Xcel Energy (St. Paul, MN)
Xcel Energy, a utility company that provides electricity and natural gas services to millions of customers, has been focusing on renewable energy and grid modernization. The company has been investing in technologies such as wind and solar power, energy storage, and smart grid infrastructure to improve the reliability and sustainability of its energy services.
A recent example of this shows that Xcel recently signed a deal with Anterix to build out a private wireless network to support their grid modernization efforts.
Minnesota – A Beacon for Technology in the Midwest
These are just some of the technology trends that Minnesota’s biggest companies have been focusing on. As technology continues to evolve and transform industries, these companies and others in the state are likely to continue exploring and adopting new technologies to drive innovation and growth.