Perhaps, it’s not even necessary to mention a colossal impact of the revolutionizing IT-driven solutions on all nowadays industries. The most successful companies and far-sighted CEOs tend to promptly implement innovative technologies to streamline business efficiency, reduce expenses, and significantly fatten profits.
As of 2019, 43% of respondents stated their company was currently using IT automation, according to the research of North American and European business technology buyers.
Unless you stick with the latest and biggest tech trends, you might end up jeopardizing the entire business ecosystem. You either won’t be able to hold a market position or provide decent and fierce competition.
The perfect winning formula lies within lateral thinking and ongoing software and hardware updating. It’s no wonder global IT spending is forecast to be more than $3,70 trillion in 2019 for the considered period of 2012-2019, in compliance with the recent survey by Statista.
With that said, multiple IT-based consulting companies offer their services and provide in-depth research initiatives on which software you should opt for, explaining its core benefits and keeping your eyes on the future.
One of the leading and most reliable consulting organizations have already come up with their annual reports. They are, of course, Gartner Top Strategic Technology Trends for 2020 and Tech Trends 2019 Deloitte survey. So, let’s have a closer look and see what tech innovations are going to reshape the business landscape in 2020.
Being mostly known as a platform for cryptocurrency transactions, in the beginning, Blockchain has been gaining traction in multiple industries for several reasons. As a distributed ledger, Blockchain allows to avoid any third-parties involved in the relationship with your end-customers, providing excellent transparency, enhanced efficiency, boosted transactions, and highly reliable security algorithms.
Blockchain network consists of data blocks that can contain various info on financial transactions, voting results, healthcare records, etc. Due to a chain structure, digital signature, and encryption, it’s almost impossible to hack data, which makes it a perfect solution for companies aimed at fraud-free activities.
A lot of sectors are implementing feature-rich blockchain products, like healthcare, education, finance, government, to name a few. That’s one of the reasons why the global spending on blockchain solutions is expected to reach $2.7 billion as of 2019, according to Statista.
The IoT is a network system of connected devices, which has already significantly changed and simplified our lives. We can remotely close a door, turn off an electric kettle or iron if we forgot to do so before work. A whole lot of companies have implemented the Industrial Internet of Things (IIoT) into their core structure, manufacturing facilities, equipment, and final products for enhanced operational procedures and improved quality control experience.
The IIoT provides improved safety and efficiency as of exchanged data that can be timely processed and analyzed, allowing to perform predictive measures, when necessary. The Healthcare industry utilizes the Internet of Medical Things (IoMT) for remote monitoring of patients’ conditions worldwide. The IoT is also of indispensable help in the cold supply chain when it comes to scanning environmental conditions during the transportation or storing of perishable goods.
It’s no wonder the global IoT market is forecast to reach $212 billion by the end of 2019, as Statista report says.
Due to enormous data volumes, cloud computing software is no longer considered as the emerging solution, despite undeniable benefits. Edge computing technology was intended to replace cloud-based services and decentralize data handling procedures. The main goal was to attach specific sensors and devices for data collection, processing, and transferring closer to the source.
The IoT devices or local network nodes store all the data, so experts can access the info whenever they need it. The edge-driven IoT devices work autonomously and exclude the necessity to transfer data to a cloud, avoiding most cloud-related issues and security breaches. The edge computing industry is forecast to grow up and reach about 28.84 billion in 2025, following the Statista report.
Driven by AI (Artificial Intelligence) and ML (Machine Learning) technology rapid evolution, autonomous things have become quite buzzy words, thanks to its innovative features. Autonomous things are physical devices, working autonomously without human interference. Unfortunately, this genuinely fascinating future technology is still in the bud, yet has some working examples, such as drones or self-driving vehicles.
Autonomous things are based on AI and ML power and designed to collect data, analyze surroundings, and imitate human behavior patterns. There are no legally approved versions yet, but in time we will watch cars driving without a driver and consider that as a routine.
It is one of the most promising tech trends, worth to be invested in, as it can open new unseen horizons and possibilities. For example, the US self-driving vehicle company Cruise Automation has received $3.4 billion of financial backing as of 2019, in compliance with a Statista survey.
While autonomous things are designed for robots, vehicles, and other machines, human augmentation is focused on improvements of a human body to go far beyond the existing barriers and exceed natural human capabilities. Exoskeletons, augmented/virtual reality devices, various implants, eyeglasses, or other external tools can serve as physical boosters to help in navigating daily challenges or be replacements for missing body parts.
Also known as Human 2.0, this promising technology is still under the development stage. Nevertheless, it has a few active application fields, which demonstrates a tremendous potential. VR/AR helmets aid students during flying training programs, while sensory devices, like cochlear implants, can become compensation for loss of hearing, which means a lot for some people. Many research laboratories are focused on biotech and nanotechnology solutions to improve our lives and health, which is critical for every living person.
“AI and ML are increasingly used to make decisions in place of humans” - Garther
All the tech trends above may change the way you run your business and help get to a whole new level of quality and profits. Sure thing, you may require competitive expertise to have these initiatives adopted to meet your performance goals and business expectations.
Here at ByteAnt, we are always ready to provide you with a piece of professional advice regarding any IT-related issue or question and offer a competitive solution for your business and needs. Please, don’t hesitate to contact us right away!
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