Are you sick and tired to hear all around you the buzzwords like Blockchain, Deep Learning, cryptocurrencies, Artificial Intelligence and what not? Frankly, me too. There are lots of them. However, some of these trendy concepts can be of great use in business. Let’s take a closer look.
In 2019, over 58% of organizations across Europe and North America expect considerable revenue boost. It is highly likely that they count on introducing new revolutionary advancements as the key drivers of their business growth. There is some statistical data that proves the efficiency of introducing new technology trends into your business workflow:
Here’s why a recent Tech Vision study by Accenture indicates that emerging technologies account for speeding up the innovation pace in 45% of businesses over the past three years.
With all that said, the world’s biggest consulting and advisory companies try to assist businesses by providing them with valuable insights, AI predictions and findings on the trends that are really worth their consideration. Organizations can leverage these annual takeaways to realize on what tech solutions they should double down to succeed in the year to come.
As of this writing, two leading consulting service providers have come up with their all-out reports, namely Gartner Top Strategic Trends and Deloitte Tech Trends 2019. This article is an attempt to analyze the hottest of them and highlight only those, which will come in handy for your very business project.
RTA or Robotic Process Automation is a key enabler for a multitude of business optimization initiatives in 2019. Nowadays, it is impossible to define a full scope of industry areas, where various automated AI-led mechanisms and devices have been employed so far or are slated for implementation in the nearest future.
The autonomous things may vary in form factor, type and functions. Still, they all have one factor in common – all of them are driven by Artificial Intelligence and geared to reduce human workforce involvement in enterprise-scale BI processes. They usually fall into five categories:
These things managed to cover both physical and virtual worlds, as they can be operated on land, sea or air as well as in a digital space. Bear in mind, though, that these appliances are no match for human brain capabilities yet and in most cases need to be guided and supervised by respective professionals.
How to Implement. By utilizing RPA tools you can easily organize automatic response triggering, multiple bots to manage internal and external operations, retrieve information, calculate potential business costs and ROI.
Such areas of analytic research as Predictive and Prescriptive Analytics have gained considerable traction in recent years and still counting. Such AI-fueled methodologies as Machine and Deep Learning can provide businesses with actionable trainable models that help orchestrate siloed data lakes, ensure robust data analysis and deliver invaluable insights for Data Science professional withing organizations.
These algorithms not only literally augment the efforts of human specialists, – they greatly enhance time- and cost-efficiency, while providing at the same time way more accurate output results than any expert ever can.
How to implement. Machine Learning trained models are employed to analyzing vast amounts of business data to forecast possible variants of business strategy, its expenditures and risks that can be mitigated beforehand.
There is a value in taking the digital world and the physical world and bringing them together in meaningful ways. We’re just starting to see people getting a handle on what they can do with the technology–things like remotely assisting someone or laying out physical objects in a digital space.
— Greg Sullivan, Director of Communications, Mixed Reality, Microsoft
Artificial Intelligence is a great way to foster your software development life cycle. No more graveyard shifts with red eyes of your programmers as your integrated AI assistants just need some relevant data sets to get everything started and done within a short period of time. Nowadays, AI tools are a key element of both product development and deployment stages.
How to implement. AI algorithms help you speed up a MVP creation, manage the entire project, automate code testing and generation, analyze competitors’ software production and monitor customer feedback to indicate what’s going wrong with your own app’s efficiency or usability.
Internet of Things or IoT for short, is a system that embraces a plethora of physical objects interconnected with Internet capacities. As such, IoT enjoys a smooth interaction between multiple devices (not just ordinary smartphones and desktops) that enables fast and effective management and interchange of data. IoT uses Machine-to-Machine (M2M) communication and is an indispensable part of today’s household and commercial environments.
How to implement. IoT can be found everywhere across most of electronic appliances, security systems, vending machines, automobile alarm schemes, band watches and thermostatic controllers.
The idea of getting computational assets closer to customers looks very promising as of 2019. This approach is aimed to reduce loading times, bandwidth, latency, system downtimes and other technology glitches and inconsistencies that may ruin lead generation and increase customer churn.
In the world of customer-centered IoT applications, there is a strong need to reallocate all the necessary information to on-premise servers to comply with end-user needs and expectations.
How to implement. The scope of its usage is immense, meaning the edge computing approach can be utilized to improve the performance of digital surveillance systems (e.g., when cameras enjoy their own data storage to exclude long-term transferring to the cloud servers), to enhance UX of business apps (e.g., users do not need to a wider throughput frequency channel), to streamline the work of smart TVs via fast signal processing, etc.
To say Extended Reality (XR) is a prominent tech trend is an understatement. The concept is about the meaningful alignment of computer-aided environments and human H2M (human-to-machine) interactions, which can significantly boost customer experience. XR usually comprises Augmented (AR) and Virtual (VR) reality and has a huge business potential for desktop, mobile and eCommerce applications and service.
Technologies evolve, so do the customers of your products. That’s why it will be a great option to empower your eCommerce website or business app with cutting-edge AR/VR solutions to reach and engage a wider target audience.
How to implement. The AR/VR technology can be used in most eCommerce web and mobile applications, where touching or otherwise interacting with products for sale is an issue for customers (e.g., when on a website that sells household furniture, you can easily weigh up the alternatives of a new chair or wardrobe location and how well it will get along with your favorite yellow sofa.)
Blockchain is not all about cryptocurrencies and online marketplaces. As a distributed ledger, blockchain-based algorithms jump into play to enable more transparent and secure means to process, store and transfer your enterprise and customer data.
When implementing decentralized solutions within your organization, you’ll enjoy the benefits of disintermediation and interoperability as blockchain requires no third-parties involved in your communication sessions with end-users. However, some experts claim this model to be quite unprepared to handle large-scale business processes, it is definitely worth your attention in 2019.
How to implement. You can leverage Blockchain technology in any field of business that requires fast, secure and transparent money or other data assets transferring. Cryptocurrencies are a great way to provide payments to your partners and employees overseas, while running a business on a global scale. Smaller decentralized systems are the best environments for large enterprises
According to Gartner, smart space is a kind of digital or physical environment where AI-driven devices and human users can smoothly communicate or otherwise interact to create mutual value. The idea includes people, smart applications, processes and the outputs they can achieve during this interaction.
The Smart Space approach has already received much approval and support even at a governmental level. Now we are witnessing a huge shift in city architecture, home design and digital workplaces.
How to implement. The name of the technology speaks for itself, meaning smart places like your household or, at a larger scale, a town or city can be fully equipped with cutting-edge tech advancements to make the life much easier. It ranges from an alarm clock to wake you up in the morning, to intelligent surveillance system, which records only the objects moving in front of your embedded cameras, to smart city’s architecture that handles traffic jams, approves new construction plans and cares about the whole urban ecosystem.
In the era of ever-growing technology requirements, businesses face an inevitable need to continually upgrade and maintain their enterprise capacities. As a result, lots of funds are spent in vain on revitalizing the tech assets.
Here’s why cloud migration is the best way to cut down the costs and optimize production efficiencies. A serverless computing model offers cloud-based servers with on-demand access, which enable to create operational environments on the user’s request while granting any computational capabilities your specialists may require. This, together with fair per-session payment policy, makes Serverless one of the most effective solutions at a reasonable price for 2019 you should not ignore.
How to implement. Serverless has proved its efficiency in business environments with dynamically changing time-critical production and development cycles. Serverless architecture like Amazon AWS Lambda is widely used for business purposes where company’s own computational capacities are not enough to manage large-scale operations at a given time. Today it is delivered in two forms: BaaS (Backend as a Service) and FaaS (Function as a Service) solutions. The most popular serverless computing platforms are Amazon’s AWS Lambda and Azure by Microsoft.
The last but not the least on this list comes Quantum computing (QC), which stands for unbelievable blink-of-an-eye computational powers enabling users to process huge data sets at a time. For the uninitiated, it’s like simultaneous reading of all the books in the Library of Congress.
However, this tech trend is quite new and revolutionary, it possesses an enormous potential as QC is able to totally reshape the whole IT industry. It sounds pretty weird for ordinary PC users, but the QC-enabled devices ignore the traditional computational methods and do the calculations on a subatomic level, thus handling zillions of operations per second.
How to implement. Ultrafast operational tomes has vibrant perspectives in such scientific and business areas like Physics, Chemistry, Healthcare, Finance and many others. For instance, IBM is underway to leverage the Q (Quantum) experience in creating gyroscopes and other devices based on superconductive Josephson Junctions.
All in all, these tech trends are indeed worth paying your focused attention to, if only to assess various perspectives they may influence the global market in 2019 and beyond. Most of them, however, require considerable hands-on expertise to get integrated into your business processes. ByteAnt is ready to share the skillset of its seasoned in-house professionals to provide you with a wide range of software development and integration services.
Should you require more hands-on assistance on how to implement new tech trends into your business flow, feel free to contact us.