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Technology trends have the potential to cause major disruption whilst delivering significant opportunities. It may seem like a daunting task to keep up with the digital trends, however, being mindful of the consistent technological innovation can directly align tech growth of individuals and organizations with the digital world. Large organizations stand to have an added advantage of IT experts and enterprise architecture which leads to creating a modern relationship between IT and business. This creates an opportunity of competitive edge influencing business strategy at the outset. But this may not be enough as small and mid-sized enterprises are consistently maintaining their pace with growing technologies to navigate the future and deliver increasingly intuitive digital services.
Insights by Deloitte on Tech Trends 2020, describe this year and the near future setting the stage for emotionally intelligent interfaces and hyper intuitive cognitive capabilities, that will transform business in unpredictable ways. The mainframes and technologies being designed today will carve the architecture for longevity and be used for a long time in the future in their own modern and innovative versions. This is similar to how the mainframes introduced decades back are still being used with technology upgrading it to newer and fancier versions. It’s hard to believe that the cellular phone and the internet were introduced decades ago. Today, we live in a world dominated by smartphones, live streaming and social networks.
The year 2020 has seen unprecedented events and circumstances. One thing which has remained constant through the unimaginable changes the society has witnessed, is the ever-evolving and game-changing technologies. Against this backdrop, this blog focuses on emerging technological trends which cause business disruptions and are poised to drive significant changes for the near future.
- Artificial Intelligence
Paysa reports the average annual salary of an Artificial Intelligence Engineer is US $171,715
Let’s start with Artificial Intelligence (AI), which is one of the most transformative technologies of our times. AI has been one of the most anticipated trends which groups technologies such as machine learning, natural language processing and many more under its umbrella. As per the latest IDC report, the annual growth rate of global expenditure on AI will reach up to 57.6 billion by 2021. This speaks volumes about the investment companies are willing to take on AI. AI has been making rounds in the IT-sphere for a while now with AI verticals shaping industries globally.
- Robotic Process Automation
Robotic Process Automation (RPA) is used for automating repetitive tasks, such as handling routine business transactions and replying to emails. This technology will be used to automate repetitive tasks. Even though it is widely believed that this technology poses a threat to jobs which entail repetitive jobs, it will end up creating several opportunities in the automation sector. Large organizations such as Accenture and Deloitte, use RPA tools for automating their daily operations, which has created a huge demand for professionals skilled in RPA. Jobs ranging from RPA developer to RPA project manager are in huge demand.
Cognixia’s Robotic Process Automation with Automation Anywhere (AA) certification is aimed at raising a digital workforce that improves the processes and operations by implementing automation to provide easy, scalable, and effective business solutions.
Blockchain is a recent addition to the upcoming technologies gaining momentum in the IT-sphere. It gained a lot of hype because of the successful adoption of crypto currencies like Bitcoin. The blockchain is a digital distributed ledger which maintains transparency and security between data records and money transactions amongst two parties. Today’s early movers and smart enterprises are keeping blockchain at the center of their digital transformation and are evolving their solutions and innovations. The financial sector accounts for major market share in blockchain worldwide, however, we are witnessing a steady growth in the spread of blockchain technology to nearly every industry from healthcare to agriculture. Statista reports expected growth of blockchain solution to nearly 15. 9 billion by 2023.
- Augmented Reality and Virtual Reality
Virtual Reality is the next big thing in the IT-sphere. Companies incorporating this technology will enhance product experience and push the user experience to the next level. Virtual Reality immerses the user in an environment which is enhanced by the use of computer technology for creating a simulated environment. It elevates the senses such as touch, hearing, smell, and vision which are simulated in these environments. Augmented Reality (AR) is the technology used for improving this virtual environment. Both AR and VR have enormous potential in the market with plenty of start-ups looking for a market share. The game-changers like Google and Samsung have a high demand for professionals with VR and AR skills.
- Internet of Things
From smart toasters to something as small as hairbrushes, are just some of the devices which will have chips inserted in them for being connected to the web. The Internet of Things (IoT) has been growing and advancing for years now. Large enterprises began sizeable investments in this technology years ago. As per the research by Mckinsey in 2019, the worldwide number of IoT-connected devices is projected to increase to 43 billion by 2023. IoT is the keystone for several organizations who are digitally transforming their operations. In the broadest of sense, IoT will connect everyday objects that “talk” to each other and gather data and information to create actions and complete particular tasks.
Cognixia offers a range of courses in IoT, keeping you on top of this emerging field as it continues to take shape.
- Edge Computing
Edge Computing technology is an undeniable reality – Gartner
Edge computing has seen explosive growth because of the transforming way data is handled and delivered from millions of devices around the world. Edge Computing has garnered motion because of the exponential growth of IoT. Edge computing can process and store data at a faster pace, enabling efficiency for critical applications to organizations. Edge computing assists other technologies and applications such as virtual and augmented reality, self-driving cars and smart cities.
With the exponential growth of technologies and organizations going digital, cybersecurity and its benefits has come to the forefront of every organizational need. With the shift in the digital landscape, cyber-attacks have become a lot more sophisticated. From targeted ransomware, phishing attacks to mobile malware attacks, organizations are frequently impacted with operations coming to a halt. This has opened up the market to several growth opportunities for cybersecurity professionals.
5G is the ‘next big thing’ which is expected to be a catalyst for innovations across various industries. 5G is setting the stage for next-gen technological enhancements whilst introducing a new chapter in the world of IoT services, as both 5G architecture and IoT architecture are based on the footprint of virtualization. This shift from 4G to 5G is a quantum leap taking Digital Transformation to new heights. 5G enables faster data transfer speeds (from 4G’s 1Gbps to 10Gbps), creating tremendous opportunities in various industries. With 5G network on the horizon, we are looking at all the sectors being broadly distributed into the categories of Enhanced Mobile Broadband (eMBB), Internet of Things (IoT), and Ultra-Reliable Low Latency Communication (uRLLC).
- Intelligent Apps
Intelligent apps are an upcoming trend in technology using customer interaction and data to create and suggest personalized experience for the end-user. It combines app development with AI, IoT and big data to create an excellent experience for the end-user with little to zero human intervention.
- Voice Technology
Voice Technology, in recent years, has proved created a paradigm shift in IT with its growing popularity. Alexa, Siri, Google Voice and Cortana may be increasingly popular amongst millennial but in reality, its a technology for everyone. This technology can easily be integrated with all devices and is powered by AI, making it easy and smart to use.
To conclude, these technologies as grounded as they are in today’s realities will inform the decisions we make tomorrow. How you as an individual or an enterprise leader decides to pace and position yourself, will determine if you match the pace of ever-evolving technology in the near or foreseeable future. Technology will witness unfathomable innovation in the coming years which calls for staff, well trained with the latest trends of information technology. Are you ready to match up with these trends?
Cognixia – world’s leading digital transformation company is committed to driving and influencing this mindset to fundamentally change the enterprise and its digital DNA. Visit our website to transform and upskill to match the growing pace of technology and innovation.