Technologies are evolving, innovations around technology is changing, and connectivity and interactions with the world is accelerating. Since 2018 was a year driven by technology, it is only obvious that this trend will continue to rise further in 2019 as well. Right from artificial intelligence inspired devices to blockchain and machine learning, 2018 witnessed an exponential growth in technology and tech-based careers. By constantly learning to keep up with the current trends of technology, the IT workforce is keeping an eye on the future of technology to enable the growth of businesses. So, if a businessman wishes to reap the maximum benefits from evolving trends with the help of IT professionals, it is essential that entrepreneurs and business owners update themselves with the trends as well. Here’s a quick look at the top technological trends that is said to govern 2019…
Internet of Things
Internet of Things (IoT) is the process wherein the internet connectivity is extended into physical devices like vending machines, alarm clocks, cars, etc. Although IoT has been around for several years, it is yet to develop fully, reason why this technology will continue to trend in 2019 as well. As a result of IoT, business models have turned more innovative as they are now able to improve customer service, speed up processes, enable better safety measures, and offer predictive maintenance and efficient decision making. Due to the many benefits offered by IoT, in the year 2017 alone, over 8.4 billion devices worldwide had an extended internet connectivity; a number that is predicted to touch 30 million by the year 2020. So, if your business has not yet made the smart move of switching to IoT, 2019 is the year to do so.
With advancements in internet connectivity and machine learning, automation has become a norm in performing several business tasks. With minimal human assistance, automation has replaced traditional working methods in companies as they furnish a more detailed report within a matter of minutes, as opposed to gruesome hours of manual labour. The process of managing and interpreting large volumes of data and tasks has been simplified massively, thus improving the overall efficiency of the business world. As of today, the most widely used automation process includes Robotic Process Automation (RPA), which makes use of a software to simplify traditional processes and ultimately replace human labour with an efficient software.
AI, RPA, and Machine Learning
RPA technology has automated business processes by analysing data, processing transactions, interpreting applications, replying to emails, etc. As a result, over 45 per cent of the menial, repetitive, and tedious activities have been automated which is not just resulting in plenty of career opportunities, but also assisting in the evolution of industries.
AI (Artificial Intelligence) has generated a lot of buzz in recent years as it has become a part of the daily human life. Mimicking human intelligence, AI is now able to perform several tasks such as speech patterns, recognition of images, decision making, etc. And although the world of AI has to develop a lot further to become entirely automatic, businesses have learnt to adopt AI into their routine tasks such as programming, testing, support, maintenance, etc.
Machine Learning is a study of statistical models and algorithms where computers are able to discover and analyse patterns and get insights from fed data. A subset of AI, machine learning has been deployed in almost all sectors and this market is expected to grow to over $8.81 billion by the year 2021. Be it pattern recognition, data mining, or data analytics, machine learning has become the one-stop shop for all major tasks.
Data and cybersecurity
Since most tasks are automated and large amounts of data is present online, security become a prime concern. As a result, information security has become a rising trend that prevents hacking, data corruption, unauthorised access to websites and databases, alongside implementing adequate digital privacy measures. Apart from data, cybersecurity has also come to the forefront. In order to prevent any form of illegal access to data by the hands of hackers, implementation of tough security measures is on the rise. While cloud technology and deep learning are some of the top advancements in cyber security, there is no denying that as long as hackers exist, the need to evolve and improve cybersecurity measures will always remain a priority.
Augmented and virtual reality
Although it is widely believed that virtual reality (VR) is used only in the gaming world, recent developments in technology have revealed that VR can be used for much more than that. As of this day, the potential of VR in providing education, training, entertainment, and rehabilitation is ample. Be it for the purpose of training doctors to perform a surgery, or to provide entertainment at theme parks, the market and scope of VR is tremendous. As a result, several industries have realised the benefits of VR and augmented reality and have implemented it in sectors such as healthcare, engineering, manufacturing, space exploration, etc.
Blockchain technology—widely linked to cryptocurrencies, is highly resistant to modification of data, thus making it one of the most secure mediums of protecting information and data online. Blockchain is one of the fastest growing technologies of the 21st century where companies are using it to create a centralised, reliable, and secure system to not just safeguard their sensitive data, but to also record and verify all forms of transactions that takes place within the company.
Cloud computing has become the core of businesses and is continuing to grow at a rapid pace. But the growing concerns over cloud’s security has led to the development of a Hybrid Cloud model where a company can mix the existing on-premises infrastructure with private and public cloud services. This will not just create a more flexible and efficient model, but also offer higher agility to companies, while experiencing fewer outages and lesser downtime. Currently, several companies are already making use of cloud service providers like Microsoft Azure, Google Cloud, and Amazon Web Services, and this usage is only said to increase in the coming years.
Smart spaces is the latest technological trend that has its roots intertwined with IoT. Right from smart speakers, smart phones, to smart watches, this technology has become a part and parcel of our daily lives. Enabling the interaction between humans and AI, a more automated and interactive environment is being created that is all set to target the businesses and industries in 2019.
Technology and internet has become the centre of attention for all businesses and industries worldwide, and 2018 was proof! With a list of trends emerging the previous year, the probability of further growth is simply undeniable. So, as an entrepreneur or an established businessman, you need to broaden your thinking, explore technologies and implement the ones that will aid the growth of your company even further.
John Tie, Digital Marketer and content strategist, Virtual Employee