The future is always an exciting place and with technology trends accelerating expeditiously – the concept of universal digital transformation seems to become a reality soon. Powerful business leaders in the field including Google, Amazon, Facebook, and Apple have courageously leveraged emerging technology trends like AI and BIG DATA to enhance the user experience. If you have been following the news on emerging technologies – then you will be aware of the relentless pace of technology and its impacts on consumer expectations at a faster rate.
Technology has completely revolutionized the way we do business and are steering forward across different industries from banking to healthcare and e-commerce. Most of these emerging technology trends are elusive and ephemeral while some trends manage to swing rapidly and are integrated into business organizations. Below is a list of top five emerging technology trends that will be mainstream by 2020:
1. 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 greatly considered as the next big thing in home automation technology. IoT is an ecosystem of physical objects — appliances, equipment, vehicles, devices and many other that exchange data through the internet without any human interaction.
Systems like Google’s Home and Amazon’s Alexa have already begun to acquire a space in most of the homes across different countries and the numbers are surging significantly. With advanced features like voice interaction, playing requested songs, setting alarms, making to-do-lists, and providing information about weather – these technological advanced smart systems are reshaping the future of digital landscape.
Apple recently launched HomePod – a technologically advanced speaker delivering high-fidelity audio in addition to some other smart home features as offered by Amazon’s Alexa. Samsung has also announced its plans to launch systems based on Bixby technology in the coming years.
As per a technology intelligence report, a whopping $6 trillion will be invested on IoT solutions in the upcoming years. Also, the report calculated that the total number of IoT devices touched the milestone of 8.4 billion in 2017 and is expected to rise up to 30 billion by 2020.
2. Cryptocurrency
Cryptocurrency is a digital currency built to act as a token of exchange. The transactions are verified through sophisticated encrypted cryptography to keep secure the whole process. Cryptocurrency has already revolutionized the financial industry and there are millions of coins present in the market today. Bitcoin, Ethereum, Litecoin, Ripple and Lumen are some of the widely used digital coins.
A video on “What is Cryptocurrency?”
With many companies coming forward and accepting cryptocurrency as the form of payment, there is no doubt that this technology is here to stay. Market researchers have already forecasted that cryptocurrency will grow in market size substantially over the coming years.
3. Blockchain
The blockchain is a decentralized ledger that stores and exchanges data for cryptocurrency. According to a Gartner Report, this decentralized ledger technology is anticipated to generate $3.1 trillion in business value by 2030. With the help of sophisticated architecture, this technology facilitates smooth interactions by providing transparency and reducing the friction across commercial parties outside the system
4. Artificial Intelligence
AI has always been a fascinating concept right from the first day this disruptive technology was introduced. AI refers to a computer that can actually think for itself without being programmed by humans to do so. The benefits and precision results underpinned by AI have made the organizations to leverage this technology for delivering better consumer activities.
Companies like Amazon, Microsoft, and Google have deeply invested in integrating and promoting artificial intelligence capabilities. With an ambition to provide the customer with a hassle-free experience – Amazon has introduced a high-tech cashier-less retail store called AMAZON GO. This leading retail e-commerce giant has announced its plans of opening 3000 AMAZON GO store by 2021 across different parts of the country.
5. Automation
With technologies like big data, cloud computing, robotics, and artificial intelligence undergoing large scale development – automation is at its peak. A majority of Software consulting companies from manufacturing to banking and software enterprises are comprehensively implementing automation to drive productivity, safety, profitability, and quality.
The Digital Future:
The possibilities and benefits offered by these five technology trends are seemingly endless. Most of the experts believe that leveraging these highly advanced technology trends in our society and workforce will definitely make our lives better. The pace of technology innovation in any organizations will create substantial opportunities for growing and delivering the right service at the right time.
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