It is fascinating how technology is influencing in various sectors of the market. Ever since the advent of digitalization, the fundamentals of industries began to change for the better. And one of the main reasons behind this is competitiveness and user needs.
To sustain in today’s competitive market, every industry now uses innovative technologies that make their solutions more powerful. Well, a clear proof of this is big companies like Amazon, Google, and Facebook who invested valiantly in the latest technological trends like Big Data, AI, blockchain technology, etc. for enhancing the user experience.
Clearly, technology is not just changing, it is transforming very fast. Innovation in the business world is accelerating exponentially. IoT could be worth $19 trillion in the coming years. Over 1 billion people will use AR/VR in the year 2021. And by 2030, the largest industry on the internet will be the education industry. Hence, there is no doubt that universal digital transformation will soon be a reality.
Top 10 Technology Trends
Here, we present to you the latest technological trends that will surely bring significant innovative growth in 2020.
For quite a long time, AI is making a significant impact on industrial growth. Computers are now able to learn new things as humans do. In fact, by the end of 2019, the average person will have more conversations with a bot, than with anyone else. Modern-day researches are now enabling AI to recognize facial expressions, voice recognition, and even help in customer services as well. So, it is no surprise that we’ll be seeing AI implementations that don’t need any human interventions in the next time! Google’s TensorFlow is one such example.
Internet of Things (IoT)
In the last couple of years, IT smartification has encouraged all businesses to adopt IoT app development. Now it has become the most exciting and most familiar expression that has accessed nearly every aspect of our daily life. While still a handful, it is predicted that by the end of 2019, 40% of regional government will use IoT to turn infrastructures from assets to liabilities. Moreover, our homes, which already has a series of smart products, will soon find all new entries by 2020.
According to The New York Times, the world’s biggest banks have already started to use blockchain technology. Undoubtedly, the rate at which this technology is growing has already placed it in top trends of 2020. While only a handful of industries are using this technology, but by 2020, we will see its mass adoption for sure. Blockchain technology is an old concept that allows technologies to communicate securely and verifiably. Although cryptocurrencies have already been in the limelight in recent years, blockchain technology is still gaining grounds across the tech market.
The future of technologies will remain incomplete without voice and face recognition. We have seen voice technological developments like Siri, Alexa, and others, and they have even proved useful in daily life. But these applications have remained limited to their use. But the future of voice-based applications is all set for the coming year. In only a matter of time, almost every device around us will be able to perform following voice commands. 62% of users plan their purchasing through their speakers, says Google. AI, ML, and voice-based apps will surely find their way in the coming future.
Natural Language Processing (NLP)
Chatbots and AI-powered aids are moving towards the mainstream. They have already revolutionized the way brands interact with their customers. However, by 2020, with the integration of NLP, chatbots will reach new heights in the market. Sarcasm, puns, and double meaning contexts would be clear to the upcoming technologies by the use of NLP. The complex algorithms behind NLP will be based on millions of computations and predictions generated by integrating AI between conversations of humans with their system.
Edge computing is somewhat different from traditional computing methods. It is a method of processing the data at the place where it originated, rather than using a centralized data-processing warehouse. It enables data stream acceleration and reduce latency and enable greater autonomy at the edge. Besides that it also enables smart devices to interact with data very quickly while reducing the processing time. There are high chances of seeing this technology in the coming years. By providing faster speed and prioritizing traffic, this technology will surely boost the future market. Complex edge devices such as autonomous vehicles, drones, and robots will surely accelerate this shift.
Presently, it plays a very crucial role in the growth of companies around the world. When integrated with software, analytics helps businesses to predict where the market will move in the next time. But in the following year, the plethora of collected user data will help businesses in a much different way. Analytics will make use of Machine Learning to identify issues, recommend actions, and make data useful and actionable. Prescriptive analytics, once a source of insights, will now become a guide for the next profitable move.
Cloud-based apps were never gone out of the market. They are growing rapidly and are expected to reach $150 billion at the end of 2020. Today, almost all the software firms, emphasize on cloud-based solutions. That’s because cloud-computing, besides data security, also provides business agility to the firms using AI-based apps. That’s why many companies today are shifting towards multi cloud/ distributive cloud technology. The distributed cloud service allows the distribution of public cloud to different locations while keeping all the functions within the original provider. This shows that public cloud services will surely dominate the coming era.
As per the latest reports, the cybersecurity market is expected to grow to $300 billion by the end of 2024. Obviously, the trend for increased security is still a matter of concern. Even, cloud-based solutions have risks of data leakage. This is the reason for increased government regulations on consumer awareness. Many steps have been taken to overcome the issue of cyber theft. Some measures involve third party verification, external testing of your apps, and so on. A well-respected framework can surely help the organizations to deal with cyber attacks more efficiently.
By the start of 2020, 5G will become a driving factor in wireless technology growth. It will offer its users benefits like faster internet speed, lower latency, as well as higher capacities. That will ultimately allow a greater level of automation and technological advancements in cities and remote areas, as well. Along with 5G, there will be development and implementation of WiFi 6 as well. These technologies will, for sure, allow easy application of driverless-cars by offering them real-time data about the entire city. So with the coming year, we should expect the booming of wireless technologies.
So here were the top technological trends that we will see in the upcoming year. These aforementioned technologies are proved to bring significant changes in the market scenario. They will become a blockbuster in the market. Besides bringing safety and productivity growth, they will also facilitate quality and profitability in the market. Many big industries like food and Beverage, Medical, educational, and even financial industries will be automated by the end of 2020. Some have even started to use them, and some companies will surely use them in the coming future. So are you ready for them?