Tech and Business: Tech Trends in 2020 to Look out For

Businesses today use modern technology for a wide variety of needs, ranging from operations to sales and even marketing. With technology, industries have been able to constantly come up with innovations that not only help businesses perform better, but also provide better services to consumers. Likewise, it’s businesses that innovate and adapt new technologies that usually come up to the top – as “gimmicks” slowly become trends, and trends become the norm that consumers start to look for. If you’re a business owner, you’ll likely want to check what sorts of technologies are on the rise, especially for 2020. Here’s some of them that you should watch out for:

1. Edge computing will start to keep things local.

A lot of business owners today may not have heard the term "edge computing," but may be already implementing it. In technical terms, edge computing involves maximizing computing resources by keeping processing and traffic on a local level - or "near the edge." This enables greater autonomy of devices, reduces lag, and allows systems relying on the Internet of Things to be more interconnected. In the near future, edge devices will likely have AI capabilities, and better computing, storage, and sensor capabilities.

2. Businesses will fully use the cloud.

It’s no question that the cloud has been an invaluable resource for a lot of companies, especially those that have workers in different areas and even overseas. However, the cloud is projected to expand exponentially in a few years as well, with the rise of the distributed cloud. Technically-speaking, this pertains to the distribution of cloud services to places outside data centers, allowing these services to be accessed even in remote areas. This helps provide continuous connection – and therefore operation – of services across devices. In the future, the implementation of the distributed cloud can help reduce lag and improve overall systems work.

3. 5G will change the game for connectivity, networking.

While we have yet to see 5G fully enter the market today, 2020 might be the year when 5G will start to make its presence known. When companies start releasing 5G-compatible phones, computers, and devices, we’ll likely see the standardization of 5G across various places. Not only will this give businesses unprecedented upload and download speeds, but 5G will also improve coverage and may help provide affordable data plans to smaller businesses. This lets consumers – especially companies – have access to extremely fast and stable internet. Industries can use 5G to help automated machines and software transfer and collect data much faster across industries. This means not only will consumers be able to access online games like Drift Hunters or World of Warcraft much faster, but help developers and game creators make video games across different areas.

4. Blockchain will pave the way for fast, autonomous, secure transactions.

Blockchain pertains to a system of devices that can communicate and interact with each other securely and autonomously. This is done when devices share computing power, and only make changes to the system when all devices are aware of what the other is doing – similar to a ledger. Businesses and a lot of people today have begun using blockchain to make secure transactions with each other, and to form more efficient ways of modifying internal systems. In 2020 onwards, blockchains can provide industries with an independent and transparent means of conducting business through shared and internal record keeping, improving cash flow, and reducing transaction times.

5. Hyper automation will likely take over operations.

This isn’t exactly something to see immediately in 2020, but this is an important consideration for businesses. Considering developments in automation tools, packaged software, and machine learning, businesses will likely want to automated multiple – if not all – business processes to reduce costs and increase speed. It’s said that by 2021, technologies such as robotic process automation can start to pave the way for AI to handle long-term business process management suites that can take over the handling of multiple systems.

6. User experience becomes top priority.

In today’s time, we still need tech-literate individuals to help develop and manage the IT systems, especially for businesses. Eventually, though, we’ll likely see the rise of “multiexperience,” which involves developing devices capable of supporting multi-touchpoint and multi-sensory interfaces such as sensors and wearables. An existing example of this would be Domino’s Pizza, where their new delivery services allows customers to use smart speakers to state orders, track said orders with a tracker, and wait for their food to come from autonomous vehicles. Businesses can benefit from multiexperience should they be able to come up with a means to fully immerse customers in their brand across different channels.

7. Humans and technology combined can boost efficiency.

The term “human augmentation” gives us images of cyborgs and a dystopian future, but this isn’t necessarily the case. This term actually refers to using technology to help improve a person’s overall experience – these include workers using wearable exoskeletons to help them lift larger packages, or for implants that help disabled people perform other tasks. In the future, augmentations can be smaller, much cheaper, and more efficient that it can help people perform not just physical tasks, but improve their cognitive experiences as well. An example would be Sweden, which is on its way to going fully “cashless” by making interactions available solely via implanted chips on their citizens’ arms. Businesses can make use of this by implementing similar augmentations to improve their workers’ performance.

8. Democratization opens tech to all people.

When we talk of making people tech-literate, we usually frown at the need for expensive – and often extensive – training. With future developments, however, businesses and industries may have easier access to business and technical expertise without spending too much time and resources. Advances in AI and data management will pave way to AI-reliant systems for tech-intensive roles. This means developers can get access to data models through models and automated testing by AI systems. Beginning in the 2020s, app design and development will likely start to become easier to do – similar to how website services such as Wix and WordPress offers very easy-to-use interfaces for non-developers to make websites. Other industries like gaming can also benefit from this advance in technology, as AI can help developers make games like Drift Hunters without having to spend a lot of time and manpower.

9. Improved privacy and transparency across products.

Being in a modern world dominated by IT products has made consumers raise a lot of points on privacy and transparency, and this makes sense. When we rely on software and industries to handle our personal data, how secure would our data be? And when we finally rely on AI to do businesses, how would it affect our privacy? It’s estimated that in a few years’ time, businesses and governments that avail AI services will need to follow guidelines on using ethical and explainable AI. Hopefully, recent meetings such as discussions on new Laws of Building AI can help pave the way for such developments.

2020 In Business, Technology: Automation, Better Networks, Better Accessibility

If there’s anything we can say about the points stated above, it’s that a huge part of 2020 moving forward will see the rise of more powerful AI, more efficient automation services, and a more interconnected cloud. There’s going to be the priority when it comes to equipping AI with the means of making work more accessible to human supervisors, and for business technologies be more efficient through advanced networks, 5G connections, and edge computing. Hopefully, you’ll be able to use the above list to your advantage – and remember, before you adopt any of these technologies, make sure they are innovations you can use for long-term benefits for your company.

Image Sources:

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