The future is always the most exciting place, and with technology trends accelerating expeditiously — the idea of universal digital transformation appears to become a reality soon. Influential business leaders in the field, including Apple, Google, Facebook, and Amazon have courageously leveraged developing technology trends like BIG DATA and AI to enhance the UX. If you have following the news on developing technologies — then you will be aware of the relentless speed of technology and its influences on consumer expectations at a more effective rate.
Technology has changed the way we do business and are pointing forward across different industries, from healthcare to banking and e-commerce. Most of these emerging technology trends are fleeting and elusive, while some trends manage to swing rapidly and are integrated into business companies. Below is a list of top six technology trends that will be mainstream by 2020:
The blockchain is a decentralized record that exchanges and stores data for cryptocurrency. According to a report by Gartner, this decentralized ledger technology is expected to generate USD 3.1 trillion in business value by 2030. By the help of modern architecture, this technology helps smooth interactions by giving transparency and reducing the friction across business parties outside the system.
2. The Internet of Things
The term “Internet of Things” generally called IoT has been talking of the town for the last couple of years and is much considered as the next big thing in house automation technology. IoT is an ecosystem of equipment, devices, vehicles, physical objects — appliances, and many others that exchange data by the internet without any human interaction.
Systems like Amazon’s Alexa and Google’s Home have already begun to acquire a space in most of the homes across various countries, and the numbers are growing significantly. With advanced features like making to-do-lists, playing requested songs, setting alarms, voice interaction, and providing information about the weather, these technological advanced smart systems are reshaping the future of the digital landscape.
As per a report by technology intelligence, a whopping USD 6 trillion will be invested in Internet of Things solutions in the upcoming years. Also, the report determined that the total number of Internet of Things devices reached 8.4 billion in 2017 and is assumed to rise to 30 billion by 2020.
This includes everything from your:
- mobile phones,
- washing machines etc.,
With IoT, we can have smart cities with optimized:
- energy usage,
- traffic system and
- efficient waste management
With technologies like artificial intelligence, cloud computing, big data, and robotics undergoing massive scale development automation is at its peak. Most of the Software consulting companies from manufacturing to software and banking enterprises are comprehensively executing automation to drive quality, safety, productivity, and profitability.
4. Artificial Intelligence (AI)
AI has always been an exciting concept right from the first day; this disruptive technology was begun. AI indicates to a computer that can think for itself externally being programmed by human people to do so. The benefits and accuracy results underpinned by AI have made the companies to leverage this technology for delivering better consumer actions.
Companies like Google, Microsoft, and Amazon have deeply invested in promoting and integrating artificial intelligence capabilities. Amazon has started a high-tech cashier-less retail store called AMAZON GO. This advance retail e-commerce giant has declared its plans of opening 3000 AMAZON GO store by 2021 across different parts of the country.
Cryptocurrency is a digital currency created to act as a token of exchange. The transactions are verified through advanced encrypted cryptography to keep secure the entire process. Cryptocurrency has already transformed the financial industry, and there are millions of coins now in the market today. Ethereum, Bitcoin, Ripple, Lumen, and Litecoin are some of the widely used digital coins.
With many organizations coming forward and accepting cryptocurrency as in the form of payment, there is no doubt that the technology is here to stay. Market researchers have already determined that cryptocurrency will grow in market size much over the coming years.
6. Virtual reality (VR)
Remember watching films about virtual reality and imagining how cool it would be if it were actually like that in real life? Well, it is about to be. Although VR has been almost since the 1950s until recently the technology was not able to deliver the completely immersive digital experience users have been craving. That is about to change with recent improvements to both programming and hardware, and the effects are going to be felt across nearly every industry from retail to education.
Virtual reality has been a significant component of video games for several years, and this trend is proceeding to extend. In addition to the video games, VR is likely to affect organizations across the board as they adopt the technology to help them involve customers more effectively and optimize their sales and marketing purposes. It is also a potentially useful tool for learning and is increasingly being adopted by educational organizations.
The benefits and possibilities offered by these six technology trends are seemingly endless. Most of the experts assume that leveraging these highly advanced technology trends in our workforce and society will make our lives better. The speed of technology innovation in any organizations will create valuable opportunities for growing and delivering the right service at the right time