By Vikas Bhonsle, CEO, Crayon Software Experts
With newer technologies such as AI and IoT paving their way into industrial and consumer-oriented companies, tech innovations are moving at a speedier pace than expected. Cloud technology which was considered cutting-edge a few years ago is now a mainstream for many businesses. 2019 was more about laying the groundwork for these massive tectonic shifts in the IT industry. We shall all agree to the fact that the revolution in digital space has encouraged and led organizations to innumerable innovations & improve business outcomes. These new innovations are becoming more mature and are driving advancements and creating new paradigms across all sectors in an interconnected world. Let’s dig deeper to see top tech trends that are going to rule 2020:
AI-driven developments – Technologies like AI and ML are empowering almost all industries and organizations of all sizes with different impact and business value extraction. From start-ups to large enterprises, everyone is harnessing the power of applied AI to be more agile, accurate and flexible. In the coming year, AI is expected to bring drastic changes in many aspects like organizations, business models, innovations, and cultures.
Augmented analytics – The rising need and importance of data have paved a way for many of next generation technologies and data processing tools. New advances in AI & Machine Learning algorithms and decreased cost of computing power have created a new arena where businesses can utilize Augmented Analytics to gain a competitive edge. By expanding traditional business intelligence systems with new actionable insights, automating existing lines of business process, and enhancing existing products with intelligent services, augmented analytics is becoming exciting and disruptive technology with a promising future.
AR & VR technologies – AR & VR provides a fun, unique, and memorable experience for customers and if adopted early, enterprises can stand-out in this race. This visually interactive digital technology serves as catalysts in magnifying businesses’ capabilities for serving the next generation of the connected world. According to Gartner, by 2022, 70% of enterprises will be experimenting with immersive technologies for consumer and enterprise use, and 25% will have deployed to production. The future of these conversational platforms will incorporate expanded sensory channels that will allow the AR&VR platforms to detect emotions based on facial expressions to become more conversational in interactions.
Autonomous Things – IT automation examples are everywhere, be it in cars, robots or agriculture. Its reach has been so much widespread that it is now an integral part of any IT operations. With the digitization of processes, autonomous technologies are increasingly helping organizations to streamline the process, reduce costs, minimize resources, and drive profits. With multiple applications in industries such as robotics, automobile, logistics, retail, transport, and more the rise of autonomous things signals an exciting future ahead.
Edge Computing Solutions– With the adoption of data intense technologies and devices, the quantity of data we’re dealing with continues to increase. While processing data, many organizations realize that there are shortfalls such as latency, cost and bandwidth in cloud computing. To help eliminate these drawbacks, companies are moving towards edge computing – an alternative approach to the cloud environment. Edge computing can lower the dependency on the cloud and can simultaneously improve the speed of data processing as a result. With numerous applications in smart cities, autonomous vehicles, AR & VR, and the Industrial Internet of Things (IIoT), the future of edge computing looks bright.
Smart Spaces – Based on the digital technologies, automation and IoT devices, ‘Smart Space’ is a concept of making an intelligent living and work environment. The spectrum of smart space varies in size from homes, offices, factories, stadiums to cities. According to the recent report by ResearchandMarkets, the smart space market is expected to grow at a CAGR of 18.4% over the forecast period (2019 – 2024). The rapid increase in urbanization coupled with the advent of new technologies like IoT & 5G is expected to augment the growth of the smart space market.
There is no second thought on the positive impact of the above technologies on the IT Industry and beyond. While some of the above technologies are still in the nascent stage, businesses need to be digitally ready to reap off its benefits. They must have a trusted tech partner who can help optimize ROI from these complex technology investments. With a mission to help customers & partners navigate a complex, hazardous technology landscape, Crayon works closely with its stakeholders to release value from existing and new data by utilizing newer technologies.
About the Author
Vikas Bhonsle is CEO, Crayon Software Experts