Latest Technology Trends That Will Impact Businesses in 2020

Give fresh air of breath to your business by embracing these latest technology trends.

Are you aligned with the frantic adoption rate of new digital technologies? Does your business has a strong foundation for SMAC (social, mobile, analytics, and cloud) to incorporate the latest tech trends that’ll drive the post-digital wave? Or Do you have a digitally mature workforce to offer customized products and services that adapt to the constantly changing realities?

These are some crucial questions that businesses will need to ask themselves to assimilate the upcoming technologies of 2020. 

In the post-digital world, digital realities, related products, and services will be hyper-personalized. And we will require a technology vision that’s intensely customized and complementary to constantly changing on-demand experiences. After all, all these factors are crucial for the adoption of technology.

In a digital ecosystem that’s transitioning from social, mobile, analytics and cloud (SMAC) to the distributed ledger, extended reality, and quantum computing, where does your business stand?

To understand such questions, we have come up with the latest technology trends that you can incorporate into your business.

New Technology Trends for 2020

If you are still wondering ‘what’s new technology?’take a look at the newest tech trends that are hand-picked by our experts after doing extensive research:

1. 5G Network

One of the most enigmatic new upcoming technology that businesses will need to adopt is the advent of 5G. According to Huawei, 5G could

“support 1,000-fold gains in capacity, connections for at least 100 billion devices and a 10 Gb/s individual user experience of extremely low latency and response times.”

But to take this speed to everyday mobile users, mobile network carriers will need to increase bandwidth and reduce network costs. Moreover, LTE adoption isn’t waning and is estimated to reach $672 billion by the end of 2020. 

2. Autonomous Driving

We all have heard about companies like Tesla, Alphabet, and Waymo, and the one thing that is common among them is their aim, which is to craft impeccable autonomous vehicles. The idea of a driverless car in itself generates a considerable amount of excitement.

Tesla chief Elon Musk already has the future design of autonomous vehicles and aims to go big in this industry.

Elon states,

“From our standpoint, if you fast forward a year, maybe a year and three months, but next year for sure, we’ll have over a million Robo-taxis on the road.”

Functions like automated braking, lane-changing, and automation of the other in-car systems are on its way to being streamlined with the guidance of data capture and analytics.

However, Gartner analyst Mike Ramsey thinks differently, which is true to an extent,

“The idea that you can have a vehicle that can make complex decisions for full self-driving is just not plausible at this point.”

There is still time for the modulation of the laws for autonomous driving by legislators, regulators, and authorities. Over that, significant tweaks will be required in the existing infrastructure, laws and social attitudes before we can embrace autonomous vehicles in the current technology trends.

3. The Empowered Edge

Today, the primary concern of any industry is the laggy approach that sometimes affects the overall management of the operations. Therefore, industries are focusing more on the efficiency and the response rate of computing, through which, data analysis is made. And here comes the role of edge computing.

Edge computing brings data storage and computation closer to the target, and hence, ameliorates the response times and save bandwidth. Also, it weighs more like the latest trend in technology because the industries are rapidly empowered with sophisticated and specialized compute resources, which is bound to reduce the latency.

As of now, edge computing is being fueled by the rapid evolution of the Internet of Things (IoT) and in the future, it will create an unstructured architecture over a set of distributed cloud services.

For instance, we have got drones that directly communicate with the enterprise IoT platform and conduct peer-to-peer exchanges. There is every increasing rise in the use of storage, sensor, computer, and advanced AI capabilities. One such example is the latest package delivery drone by Amazon.

4. Democratization of Technology

The term democratization is derived from democracy. Like in a democracy, everyone has equal rights and responsibility, the democratization of technology refers to the easy access of technical domain to everyone, irrespective of their profession and place.

Gartner asserts four key aspects of the democratization of technology trend that will make it big in 2020:

• Application development
• Design
• Knowledge
• Data and analytics

The best example of democratization can be credited to the developer, who will be able to generate data models without learning the skills of a data scientist.

However, there is still concern about the future use of this latest trend in information technology because it will also enable people to exploit easy-to-use tools, which may pose harm to society.

5. Human Augmentation

Human augmentation can be defined as a process by which a person’s physical and cognitive ability is strengthened. Once implanted in a human being, it will enable the person to execute tasks that were earlier impossible for him.

For instance, miners use wearables to enhance their safety. Then the cases of human augmentation in soldiers are a highly anticipated topic and are running silently by the armed forces of many countries, as per reports.

The augmentation humans will not only enhance the physical endurance of a person but also, it will enhance the human’s ability to think and decide better. To put it simply, we can say that human augmentation does hold substantial potential in the future of technology.

6. Distributed Cloud

The trends of cloud storage and cloud computing are already embraced by the industries across the globe and the next big thing that is going to hit the tech ecosystem is the distributed cloud system.

Distributed Cloud is still in its infancy and there is a long way to go. Many companies are up with their service subsets to be used in a distributed way. It helps in connecting the public cloud distributed operation of cloud services to specific locations.

It’s expected that by 2020, 75% of the enterprise-generated data will be processed regardless of the centralized data center. This upcoming technology of 2020 will be a significant breakthrough in the cloud infrastructure. 

7. DARQ Age is Here

Distributed ledger technology (such as blockchain), Artificial intelligence (AI), Extended reality (including virtual and augmented reality), and Quantum computing, abbreviated to DARQ form one such future technology trend of 2020 that business must integrate on priority. So, when you approach hiring, training, and employee retention, keep DARQ in mind. 

Volkswagen, for instance, is already cashing in one of the biggest technology trends of 2020. It used quantum computing to test traffic flow optimization and accelerate battery development.

The company is also testing distributed ledgers to provide automatic payments at gas stations, create tamper-proof odometers, protect cars from hackers and more. Similarly, it’s using AR instructions to help service employees repair vehicles. 

8. Personal Profiling 

Digital integration into people’s lives has become so deep that data analytics has more information than they could ever analyze with current technology. As consumer analytics becomes a crude priority of every business, the latest tech trend is profiling consumers by examining how they interact with the technology in hand.

To analyze the gateways to profiling user spending patterns, we need to answer questions like:

• What social media apps do they most visit?
• How do they curate their social profiles?
• What pictures do they post?
• What all places they check into on social media?

The trick here for businesses is to integrate and adapt to an individual’s preference for the latest technology. Gillette is one such example that’s partnering with 3D printing startup Formlabs to offer customized razor designs.

A top technology trend like this raises one glaring question – where is consumer consent in this personal profiling and where do we draw the socially acceptable line and how will this line differ from consumer to consumer?

Well, for that, we have to wait and watch the manner in which personal profiling is done in the future.

9. AI Products

Artificial technology or AI is not a new term in the IT sphere, but now there are further verticals of AI that is shaping the industries globally.

AI technology trends, including products like AlterEgo, a mind-reading wearable, and citizen robots like Sophia, are only a promo to how big AI technology will get in 2020. Companies like Dominos and Doordash are already experimenting with drones and robot delivery. 

Although at present, these latest emerging technologies are still riddled with glitches threatening human safety, but looking at their enormous prospects, it is bound to become a technology trend in 2020. 

10. Data Policing

Ever since the European Union’s General Data Protection Regulation (GDPR) tightened the bolts on privacy and data protection laws, businesses and consumers alike have become more aware of their vulnerability to data breach and cyber-attacks.

According to Gartner, by 2020, nearly 70% of organizations will be exposed to personal data archiving. That’s a 60% growth since 2018 when the number was at 10%. 

In fact, emerging technology trends like cryptocurrency will be one of those upcoming technologies that are yet to be compliant with privacy laws. An insertion of personal data into public blockchains can be a major worry for 75% of public blockchains by 2020. As a result, an entire ecosystem, based on data-driven technologies, that is constantly growing in its interconnections is a key tech trends that businesses can benefit from by forging early-on partnerships.

11. Momentary Markets

Real-time opportunity to capture «momentary markets» will change the face of customer analytics and advertising in ways hard to imagine. As digital realities get more sophisticated and narrowed down to an exclusive reality of each moment, global technology trends will align towards more customized and on-demand experiences to fulfill customer needs. 

To do this, businesses will need to combine real-time analytics capabilities with sophisticated back-end systems to capture constantly altering customer needs. Pairing this with constantly updating digital demographics will open new alleys for businesses to discover unmet customer needs. 

12. Automation

Automation is aimed to augment people and propel the automation process. It combines packaged software, machine learning, and automation tools to deliver the results. In the next couple of years, automation of data science will empower scientists to churn out advanced analysis.

Automation has already had us welcome cashier-less AMAZON Go stores across the US, but according to CNBC, the number will be 3,000 of its cashier-less AMAZON GO stores by 2021. For example, businesses in retail will need such sophisticated automation to compete with cashier-less AMAZON GO stores.

According to a PWC report, automation will go through three waves of automation:

• Algorithmic displacing around 3% to 30% of jobs from the early 2020s to mid-2020s.
• Augmentation increasing these percentages higher as technology improves itself.
• Autonomy wave that is predicted to surface in the mid-2030s.

13. Reskilling Human Workforce

At the speed at which machines are learning and upscaling, the human worker’s digital sophistication will be a must-have in the latest technology trends in 2020. The present human workforce is dealing with a disruptive digital transformation where cloud, analytics, and digital wave may still stand essential for groundwork but are no longer the crown jewels of “disruptive technologies.” Yet they are still recruited, trained, and assessed in pre-digital ways.

To integrate the new technology of 2020, businesses need to train their workforce in a post-digital manner. For instance, the next-gen workforce needs to be trained in Augmented Reality, Virtual Reality, Internet of Things, Blockchain, and Artificial Intelligence, among other future trends in technology that are bound to make an appearance in technology vision of 2020. 

14. Medical Upgrade

A much-anticipated tech trend in 2020 will be sophistication of technology upgrades in the medical field. 3D printing will open a new business of advanced prosthetics as university research expands in 3D printing bionic body parts.

Scientists at Princeton University, Princeton, NJ, for instance, have 3D printed a «bionic ear» that can «hear» radio frequencies far beyond the range of normal human capability.

Similarly, telemedicine and virtual diagnosis powered by AI and AR will need businesses to rework their business model in medicine.

15. Digital Debit

Facebook’s cryptocurrency project Libra is expected to be completely fleshed out and in sync with government regulations by 2020. As cryptocurrency gains stronger credibility and digital payment systems like Google Pay and Amazon Pay grow in use, traditional banking will lose its ground. 

In 2020, traditional banks will steal hold greater value, but businesses will need to carve out the adoption space for growing digital transaction sources. It’s no coincidence that banks like Bank of America are gathering blockchain patents. 

What’s Next in Technology?

Technology trends in 2020 will come with both unfathomable innovation and intricate connectivity, drawing the social responsibility of businesses to respect the ethical lines of the consumer data breach. According to the PwC report, AI Products by 2030 will contribute over $15.7 trillion to the global economy. 

Analytics will see dramatic changes for businesses in terms of product modification. A machine learning app developed by Sam’s Club is already using machine learning to analyze customers’ past purchases and auto-fill their shopping lists. It also plans to add a navigation feature, which will show optimized routes through the store to each item on that list. 

While this means more sophisticated consumer satisfaction and better business, it also begs the question of what is the real cost of consumer analytics in 2020 collected for these services.

IIn 2020, business not only needs to come together to form a cyber-secure ecosystem but also review their take on data analytics. For that to happen, the present staff needs to be well trained for the latest trends in technology and the process should be followed accordingly.

Fuente: www.mobileappdaily.com