The future has never been so exciting as it was earlier and as we are in the 4th Industrial Revolution the one thing that has been evolving faster than ever is Technology. This is an era of universal Digital Transformation where no one part of the globe is left out from the use of the latest in technological progress. Hence companies, as well as individuals, must keep up the pace with some of the major tech trends and grab this opportunity lavishly to improve our lives.
Though the global platform is today governed by powerful business leaders like Amazon, Google, Facebook and Apple, these companies have also tried to pass on the technological developments to other smaller businesses as well. This is a great opportunity as today small and medium-sized businesses with the help of intuitive technology can do a better and more profitable business. As a technology company, we felt the need to share 5 imminent trends one should know that will drive us in 2020.
Artificial Intelligence & Extended Reality:
Self-programmed robots are no longer a myth today AI as fascinating as always is a thing of reality today and the coming future. So get ready folks as we step into the world of AI where humans are no longer necessary to program and understand the requirement of the real world. This technology can be rightly considered as one of the most transformative tech evolutions of our times.
According to the latest research and predictive report, the AI is going to contribute to 15.7 trillion to the global economy by the year 2030.
As of today, it is estimated that 83% of businesses have made AI as their strategic priority for the coming future and the AI market will grow to a $190 billion industry by 2025 which means that this disruptive technology is here to make a mark on many businesses and our lives. Hence many companies have already started to design their platforms with AI with the goal of providing customers a hassle-free experience. Now let’s combine this with a different kind of experience which is called Extended Reality (XR). This refers to a virtual, augmented and mixed reality experience which is in a way much more digitally immersive experience for the users. Imagine you are able to play your piano without even physically owning one. Yes, that’s right a virtual digital object placed in the real world with the help of an AR headset to make you feel that you have placed the piano in your room. This is the present and it is going to be the future which is soon coming to your homes.
Autonomous Driving:
Data capture and analytics are key in technology-driven businesses and automation is with the help of developments in big data, cloud computing and robotics, as well as AI, is going to peak. The autonomous vehicle will continue to amaze us and generate a lot of significant excitement but we still haven’t got into a stage of seeing autonomous vehicles routinely on the roads. Companies like Tesla have vowed to bring in autonomous vehicles completely into the market and are surely going to be a common sight in the coming future.
The future won’t just see cars but trucking and shipping and many more breakthroughs are going to come in this space that will frequently hit the headlines in the coming year.
Blockchain Technology:
Did you know that the blockchain technology is anticipated to generate around $3.1 trillion in business by the end of the year 2030? To many who would give a rather blank look when you hear about Blockchain technology, it is essentially a digital ledger that is used to record transactions in the most secure and decentralized manner that also facilitates cryptocurrency. With the help of the most efficient technology, it provides a more transparent platform in doing business especially in the supply chain that will take away a lot of conflicts between commercial parties.
According to the latest statistics worldwide, spending on blockchain solutions is expected to grow from 1.5 billion last year to an estimated 11.7 billion by the year 2022. Many companies like IBM and Walmart have already got a continued investment in this technology and the year 2020 will also see the social media giant Facebook coming up with its very own blockchain-based crypto.
IoT:
Internet of Things or IoT as its been more often known is not new as of today and has been a topic of discussion for a few years now. Though it doesn’t need any explanation as a great deal of content is already available on it, IoT is an ecosystem of physical objects that includes appliances, vehicles, and equipment as well. These objects are interconnected with technology making it possible to exchange data through the internet with zero human intervention.
Already there are lights and voice-enabled systems such as Google Home and Amazon Alexa that have found their spaces in homes and offices. The technology advance smart systems have already started shaping the future of technology-enabled homes and office spaces.
It is estimated that by the end of 2020 there will be almost 20.4 Billion IoT devices and 90% of the automobiles will be connected to the internet.
Internet of Things or IoT as its been more often known is not new as of today and has been a topic of discussion for a few years now. Though it doesn’t need any explanation as a great deal of content is already available on it, IoT is an ecosystem of physical objects that includes appliances, vehicles, and equipment as well. These objects are interconnected with technology making it possible to exchange data through the internet with zero human intervention.
Already there are lights and voice-enabled systems such as Google Home and Amazon Alexa that have found their spaces in homes and offices. The technology advance smart systems have already started shaping the future of technology-enabled homes and office spaces.
It is estimated that by the end of 2020 there will be almost 20.4 Billion IoT devices and 90% of the automobiles will be connected to the internet.
Computer Vision:
Imagine your device having the ability to identify people, places, and objects wherever you go via the camera or sensors of your mobile phones. Even today you have smart cameras that adjust the light quality and lens while capturing an image as it has the ability to identify whether the image is a face or an object. This is already in place with the Google Image Search. In 2020 we will be seeing more advanced and improved versions of this technology and device that will be using computer vision equipped tools. Computer vision will also enable Face recognition and the possibilities and implementations are going to be endless.
Final Thoughts:
Digital transformation has helped businesses grow and are making our lives much easier. The many benefits that are derived from these five technologies are endless and many professionals and industry experts are of the opinion that these are even making daily business operations faster and much easier. The pace at which technology is evolving has thrown many opportunities and challenges equally and companies, as well as individuals, have to adapt to this digital transformation.
