Supercharge Your Business with These 11 Hot Tech Trends
Technology is having an ever-greater impact on our personal lives and most importantly on the way we do business. The business world has transformed rapidly in the past few years and it will evidently continue to change the pace of business in the years to come. Whether it is the production of goods or the computing devices used at the office, new technologies have helped businesses run smoother and more effectively. As information travels more quickly and reliably, businesses are realizing how easy it is to grow globally and across multiple sectors. To gain benefits, however, businesses must keep up with technology and adopt new trends. This article discusses 11 tech trends to look forward to in the next couple of years. First, let us understand what drives these tech trends, and then we will consider their impact on businesses.
What Will Drive the Evolution of Tech Trends?
Two major reasons for the evolution of all kinds of tech trends are our day-to-day business challenges and the passion for innovation. As an intelligent being, it is normal for human beings to innovate to live better. However, from a business standpoint, it is about optimizing all that humans are capable of accomplishing and that includes making profits.
1. Greater predictive levels and programmability will reshape cybersecurity
Cybersecurity will be one of the prominent IT functions to mature. New technologies will bring about a fundamental shift in cybersecurity as they enable greater predictive capabilities and programmability. It will become more predictive with the use of large-scale data along with AI, analytics, and machine learning. As a general rule, the more we have, the more difficult it becomes to protect it from thieves. That is not the case with immense data accumulation. Even as data increases it will become easier to determine and match patterns to both predict and shut down any attack vectors.
As every element of infrastructure becomes programmable, you can put a firewall inside the software of all virtual machines in your architecture, thus limiting the flow of data within the software. This will eliminate the need of storing data on a network from where the data can easily be hacked or stolen. Businesses will continue to see this capability emerge as programmability improves.
2. Promise of serverless computing
According to IDC’s prediction, “from 2018 to 2023 — with new tools/platforms, more developers, agile methods, and lots of code reuse — 500 million new logical apps will be created, equal to the number built over the past 40 years.” Currently, we are witnessing a distinct change in the application infrastructure with most businesses moving to cloud-native applications.
There are four distinct computing models that are evolving simultaneously such as virtual servers, physical servers, container-based computing, and serverless computing. Virtual servers and container-based computing make it easy to move applications. Whereas the promise of serverless computing offers greater agility and cost savings as the applications do not need to be deployed on a server. Alternatively, functions can be run from a cloud provider platform. It can return outputs and instantly release the associated resources. As businesses see a change in the infrastructure, they will have to make choices about how they approach development.
Accelerated in part by the long-term shutdown due to COVID-19, industries that design and manufacture products will quickly adopt cloud-based technology trends to aggregate and intelligently transform. In a couple of years, these intelligent algorithms will allow manufacturing assembly lines to optimize towards increased levels of output and enhanced product quality thereby reducing the overall waste in manufacturing by half.
3. IoT and Edge
IoT and Edge can rightly be termed as superpowers of the tech world. The developing, managing, and running of widespread IoT and Edge applications will grow in complexity with numerous endpoints. For example, audiovisual technologies are being used to achieve the same input as you would get when you connect numerous IoT sensors. When compared to individual sensors, these tech trends provide reasonable mass coverage at a minimum cost. This is only possible when AI and ML are integrated into the IoT platform. Powering and maintaining thousands of sensors is a daunting prospect. Audiovisual solutions can thus make this a significant growth area. As a result, these changes will have a profound impact on how the businesses get value out of new data that they are able to collect and process.
Read more: Gearing up for IoT in 2020
4. Everything will revolve around data
Enormous amounts of data collected from IoT devices and digital platforms can now be made available through application programming interfaces for business insights, analysis and to develop other applications. Collecting information from a sufficient amount of data-points enables you to model behavior and understand patterns and come to more accurate conclusions quickly with minimum cost. With abundant data from multiple touchpoints and new analytic tools, businesses are able to customize products and services by creating ever-finer consumer microsegments. Businesses that do not build around data will find themselves swamped by its enormity.
5. Voice control is the next evolution of human-machine interaction
The advent of voice technology such as Apple’s Siri, Google’s Assistant, and Amazon’s Alexa is disrupting businesses as it creates a three-way interaction between devices, services, and people. It has completely changed the way consumers interact with smart devices.
According to recent research, by 2024, the global voice-based smart speaker market could be worth $30 billion. This technology trend has a huge impact on how online searches will happen. Businesses will have to adapt their way of promoting their products and services. It will also affect the way companies are organized as internal knowledge can be shared more easily which improves the possibility of multitasking. This will result in increased productivity.
In the next couple of years, we will see a transformation of voice technology from being an information tool to a transaction tool. It offers the possibility to directly order from brands and perhaps even pay.
6. Blockchain platform market
Blockchain started as an offshoot of the cryptocurrency movement. Now, it is evolving to find use cases beyond just the international settlement areas. According to Gartner, Blockchain will grow to slightly more than $176 billion by 2025 and continue to exceed $3.1 trillion by 2030. The marriage of Blockchain and Artificial Intelligence can significantly change the nature of transactional businesses. This is possible as Blockchain is a decentralized unchangeable space for encrypted data and AI will assist you in analyzing and interpreting that data quickly and reliably to drive actionable insights. There is great potential for this technology to have an immense impact on cybersecurity.
7. Seamless blend of the digital twin
Applied technology will intersect between the physical and digital worlds, the digital twin. For example, the digital twin will have a perfect digital copy of the physical world. Applied technology will allow you to blend these two worlds seamlessly. The resulting immersive environments will have a pervasive impact on the industry. This twin will allow you to collaborate virtually, simulate conditions quickly, understand what-if scenarios clearly, predict results more accurately, and more. Most businesses are already aware of the benefits of applying the digital world to enhance the physical world. They are digitizing physical processes to reduce inconsistencies, redundancies, and human error.
This pandemic has shown us that communication is not just for work but is required to form real emotional connections. In the next couple of years, AI technology will be used to connect people at a human level and drive them closer to each other. There has been a lot of concern over the security of video conferencing companies. However, these concerns will move companies to ensure that they provide secure digital connectivity for their consumers.
Being a secure video conferencing software, InfinCE has been a game-changer for enterprises of all sizes. Click here to explore
8. 5G will be the game-changer
5G has innumerable use cases beginning from healthcare to more reliable security. With 5G, the audio-video experience will be faster and clearer than it has ever been. On the flip side, 5G will enable businesses to provide remote opportunities for their employees with work experience that would be similar to that inside the office. It will bolster recruitment and retention efforts for top talent.
As more businesses move their critical tasks to the cloud, employees will become increasingly productive from wherever they work and with whatever device they use. Though currently, 5G coverage is limited, according to Ericson’s Mobility report, 5G subscriptions could cover up to 65% of the world’s population by 2025. Businesses that anticipate and embrace these emerging technology trends will see a positive impact in the years to come. Low latency 5G networks can help resolve the challenges caused by the absence of reliable networks and can facilitate more high-capacity services. Private 5G networks can offset the high cost of mobility with economy-boosting activities.
9. Data lakes enable new analytic models
Data lakes are storage repositories that contain quantitative and qualitative data. Data lakes enable new models of predictive analytics and help unlock the potential of digital twins. Since they can hold enormous amounts of data, organizations can leverage the insights, including discrete data points to create a ‘digital twin’ of each customer. You can gain access to customer details such as demographic data, browsing behavior, purchasing patterns, and payment preferences. The ability to gauge qualitative data will increase the demand for robust ERP systems and AI-driven automation. This would mean that businesses should acquire the skills to set up, manage, and secure their data lakes and build data models that will help extract the insights they require for ongoing innovation.
10. Sophisticated sentiment analysis for real-time insights
Sentiment analysis uses techniques to interpret and classify the ‘mood’ of your customers. Sophisticated sentiment analytical tools allow businesses to recognize the customers’ sentiment towards a product, a service, or a brand. It can also be used by the businesses to respond to the feedback with a proactive approach. It allows businesses to understand how people are feeling in real-time and proactively position products, services, and visual merchandise. In the future, this technology will be used in addition to tools such as conversation intelligence, text analysis, and natural language processing. It can enable innovation on demand. Businesses will find it advantageous to incorporate sentimental analysis into their data analysis in the areas of customer feedback, marketing, CRM, and e-commerce.
11. Micro-fulfillment for e-commerce fulfillment
Robotics has turned around numerous industries except for a few sectors such as grocery retail. With the new robotic application termed micro-fulfillment, grocery retailing will no longer remain the same. Micro fulfillment allows you to convert personal garages into storage spaces and can operate 5-10% more economically than a brick and mortar store. This rising trend is captured in tiny, urban warehouses that leverage high-end automated systems to complete online orders with greater efficiency. These centers are used to deliver goods rapidly, in as fast as an hour. Robotic arms can be used to pick up items. The application of robotics downstream at a ‘hyper-local’ level will disrupt the grocery retail industry. This technology trend will unlock wider access to food and a better customer proposition such as product availability, speed, and cost.
How Technology will Continue to Disrupt Businesses?
The transformative potential of innovative technology trends is exciting businesses today. It will change the way businesses plan, start, manage, operate, market, and make a profit. The next couple of years will see profound improvements in addressing most business challenges as organizations develop and deploy solutions that will deliver tangible results. Driverless cars, 3d printing, artificial and business intelligence tools, robotics, and IoT are just a few examples of how technology has transformed or disrupted the business world and has the potential to continue to disrupt.
The COVID-19 pandemic has necessitated worldwide collaboration, transparency of data, and speed at the highest levels to navigate the human and business impacts. Now is the time to recognize and support the opportunities for technology trends that can best and most rapidly address business challenges. Partner with us to capitalize on these trends and scale your business quickly.
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Technology is always in a constant state of flux, and 2017 promises to be no different. Successful are those companies who keep an ear to the ground, and discern the latest trends, to gain early mover advantage. Here are the top tech trends unfolding in 2017.
1. The High Demand for Enterprise Mobility Apps
If there is a sure shot winner in 2017, its enterprise app development. As enterprises discover the tremendous potential that mobility brings in terms of productivity improvement, unlocking new possibilities, improving coordination between field staff and the main office, enabling on-the-move executives to remain connected, facilitating real-time decision making, and much more, they are scurrying to develop mobile app solutions for all their critical functions.
Gartner estimates the demand for mobile apps to outstrip supply by a whopping ratio of five to one. The challenge posed by the extremely fluid technology space, where technology changes by the day, is worsened by the severe talent crunch. New app development technologies that promote low-node and no-code options are becoming popular, but there is no short-cut to seasoned expertise to roll out intuitive apps that tick all boxes of customer satisfaction. Here is a list of top enterprise developers.
2. User Experience Becomes All-Supreme
The competition for eyeballs has never been so intense before. With more and more players scrambling to gain the attention of a finite number of customers, enterprises are not just offering multiple points of contact, such as websites, mobile optimized websites, mobile apps, and more, but they also ensure all these channels come fully optimized for the device, to deliver an immersive user experience.
Users able to navigate the website or app easily, finding what they are looking for without putting in much of an effort, are likely to stay long. This raises the stakes of web development and web designing, to offer powerful yet simple user experience, optimized for the device. Web development now becomes a strategic activity, packing in the optimal list of features, in a simple easy-to-navigate design, and ensuring good UX at the same time. This trend of rolling out simple, yet powerful UX will gain further ground in 2017.
3. Collaborative Tools Gain CentreStage
The cloud and mobility are well entrenched, offering executives a world of convenience to work from anywhere, at any time. However, online collaboration still requires supporting infrastructure. Among the various solutions that have come up to facilitate collaboration, Microsoft SharePoint leads the pack, and is likely to continue its domination in 2017. Microsoft SharePoint is basically a collaboration and document management platform, enabling groups to set up a centralized space to share documents.
In 2016, Microsoft launched SharePoint Hybrid, which is in a sense the best of both worlds, an enterprise platform residing partly on-premises and partly within the Cloud. There is now also the provision to link on-premises version of SharePoint with Office365. As the New Year unfolds, further advancements are in the offing, especially in facilitating better content collaboration, mobility, intelligence and trust. As the cloud become even more popular, the cloud version of SharePoint will likely see big improvements.
4. The Return of the ERP
Enterprise Resource Planning (ERP) is in a revival of sorts, after years of lull. ERP may seem as anarchism in today’s fast paced world, considering deployment of ERP required complex rollouts running into years. What pushes the case for ERP is top ERP vendors reinventing themselves and delivering a far faster and smoother rollout. The game changer is cloud based ERP, or a SaaS offering, allowing enterprises the unprecedented flexibility of picking and choosing the modules they like for their ERP implementation. SaaS-based ERP is likely to gain considerable ground in 2017, as a means for enterprises to remain organized on a structured and connected way. Success would depend on the ERP solution that continues to deliver traditional service, and leverage the available big data to the hilt.
Among the many ERP vendors, SAP, the time-tested old warhorse leads the pack, as the most popular ERP suite preferred across sectors and company size.
5. Artificial Intelligence and Augmented Reality Goes Strong
That Artificial Intelligence (AI) has awesome potential is never in doubt. AI powered tools such as Google Translate, Amazon’s Alexa home assistant, and more have already become well entrenched and hugely popular offerings. More and more such apps would go mainstream in the coming year, with the power of Artificial Intelligence tapped for everything from driver-less cars to medical research.
Side by side, virtual reality will continue its golden run, but it eventually stands to be supplanted by Augmented or Mixed Reality. Virtual Reality based products such as Oculus Rift, Sony’s PlayStation VR and HTC Vive are the rage now, but in 2017, AR based products such as Pokémon Go, which allow superimposing information or content of any kind on real world settings will take over.
6. Internet of Things Gets a Reality Check
The Internet of Things received it first big challenge in September 2016, when some malware took control of millions of internet-connected devices and launched what has been the largest-in-class attack to date. The attack left large swathes of internet inaccessible for days. Undoubtedly, 2017 will see several such attacks, much more potent, bringing a reality-check to the hype surrounding the Internet of Things. There will be a major focus on security as well in the IoT scheme of things.
IT stakeholders are still like hares caught in headlights, when it comes to cyber attacks. To counter security threats, encryption has now become mainstream, to the extent the New York Times is now accepting news tips via the encrypted app Signal. However, it would require much more innovation to truly secure networks, and it remains to be seen whether any path-breaking security paradigms emerge in 2017.
7. Convergence Inches Closer to Reality
2017 will also witness a convergence of the internet and television, or live TV, allowing us to see television when we want it, rather than fix our schedule around television shows. YouTube is already putting together a live TV package, and players such as Hulu and Amazon are positioning to enter the fray.
Mere knowledge of the top tech trends is useless unless the enterprise is capable enough to leverage the trends, to roll out cutting edge solutions that confer early-mover status and significant competitive advantage. This is where most enterprises, faced with talent crunch and an already overburdened IT team, falter. We can help you here. Our team of highly experienced and talented developers is always on the top of the game, having successfully executed several mobility and other solutions for enterprises cutting across sectors and industries.