These days, technology is advancing quicker than ever. It seems like every day new technology and innovations emerge. So, it can be difficult for businesses to keep up-to-date with all of these changes.
But it’s important that you’re aware of upcoming tech trends because they could help you improve processes, discover new opportunities, and grow your business.
Here are the five technology trends this year you need to know
1. Big data meets automated machine learning
It’s been said that data is the new oil—but unlike oil, we’re in no short supply.
According to the Harvard Business Review, more and more organizations are coupling big data with automated machine learning (ML) to tackle the huge amounts of data they have at their disposal.
By using this ‘AutoML’ technology to apply complex analytics to real-world problems, companies are able to bypass the need for highly-skilled data scientists in the short term, and start applying these crucial technologies straightaway.
2.Robotic Process Automation or RPA
Like AI and Machine Learning, Robotic Process Automation, or RPA, is another technology that is automating jobs. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. RPA automates repetitive tasks that people used to do. These are not just the menial tasks of a low-paid worker: up to 45 percent of the activities we do can be automated, including the work of financial managers, doctors, and CEOs.
Although Forrester Research estimates RPA automation will threaten the livelihood of 230 million or more knowledge workers or approximately 9 percent of the global workforce, RPA is also creating new jobs while altering existing jobs. McKinsey finds that less than 5 percent of occupations can be totally automated, but about 60 percent can be partially automated.
Cybersecurity might not seem like emerging technology, given that it has been around for a while, but it is evolving just as other technologies are. That’s in part because threats are constantly new. The malevolent hackers who are trying to illegally access data are not going to give up any time soon, and they will continue to find ways to get through even the toughest security measures. It’s also in part because new technology is being adapted to enhance security. As long as we have hackers, we will have cyber security as an emerging technology because it will constantly evolve to defend against those hackers.
4.Augmented and virtual reality will reach new heights
Virtual reality (VR) provides a fully digitally immersive experience where you enter a computer-generated world using headsets that blend out the real world. Augmented reality (AR) overlays digital objects onto the real world via smartphone screens or displays (think Snapchat filters). Mixed reality (MR) is an extension of AR, that means users can interact with digital objects placed in the real world (think playing a holographic piano that you have placed into your room via an AR headset).
These technologies have been around for a few years now but have largely been confined to the world of entertainment – with Oculus Rift and Vive headsets providing the current state-of-the-art in videogames, and smartphone features such as camera filters and Pokemon Go-style games providing the most visible examples of AR.
From 2020 expect all of that to change, as businesses get to grips with the wealth of exciting possibilities offered by both current forms of XR (Extended Reality). Virtual and augmented reality will become increasingly prevalent for training and simulation, as well as offering new ways to interact with customers.
The adoption of cloud computing continues to dominate the tech industry. Major players including Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure dominate the cloud computing market across the world. Edge computing is designed to help organisations solve the real-world problems by bypassing the latency caused by cloud computing and getting data to a data center for processing. The edge computing market is expected to reach $6.72 billion by 2022.
Gartner defines edge computing as “part of a distributed computing topology where information processing is located close to the edge, where things and people produce or consume that information.” In simpler terms, edge computing processes data near the edge of your network, closer to where it’s needed, which helps boost response time and save bandwidth.
So, what does this mean for businesses? Well, there are a number of ways edge computing can benefit businesses; it can improve network performance by reducing latency and increase speeds for end-users, make it easier for businesses to scale their operations, and it offers security advantages as well.
These are just five of the top tech trends your business should take notice of in 2020. But you also need to consider tech trends like multi-experience, blockchain, DARQ, Hyper Automation, Internet of Things and more. And stay up-to-date on the latest tech trends.