Emerging technologies are not just emerging anymore. Blockchain, artificial intelligence, internet of things, machine learning, augmented and virtual reality and a few more have been considered emerging technologies for several years now. However, their rapid growth, consistent presence and great potential have led them pass the stage of emerging and can be known as the prominent technologies.
In the past few years, interactive technological innovations have allowed these technologies to become integral parts of our lives. Understanding their importance and acknowledging their potential, organizations are diving deep into these technologies to keep up with the rapid evolution and stay ahead in the competition. Following are few of the emerging technology trends organizations should embrace to thrive their businesses in 2019.
Widely practiced ‘Data and Analytics’ will evolve into ‘Augmented Analytics’. Accurate data analytics has proven to be the key to take the most effective and insightful decisions that ensure rapid growth. However, due to technological advancements, especially Internet of Things (IoT), there are 2.5 quintillion bytes of data created each day. Moreover, 90 percent of the data in the world was generated only in the last two years. (Source)
The humungous amount of data means increased complexity in the process of preparing, analyzing, and studying data to acquire useful insights. Considering the amount of data generated every day, it is humanly impossible to analyze all the possibilities. Thus, as augmented analytics empower data scientists to utilize augmented algorithms, it can help businesses take the most insightful decisions.
Augmented Analytics leverages machine learning for an advanced data analytics process that simplifies data gathering, data modelling, data management and data analyzing. With the usage of the most effective augmented algorithms and tools, data scientists will draw faster and accurate conclusions, which will lead businesses to achieve expeditious growth.
AI Empowered Businesses
According to the Gartner report, “By 2022, at least 40 percent of the new application development projects will have AI co-developers in their team.” (Source) As AI and data analytics go hand in hand, 2019 will witness advanced AI-based technology innovations resulted from the collaboration of data scientists and application developers.
Innovative technology solutions will be more reliable and substantial with an ecosystem of improved AI algorithms and models. AI will assist organizations on a larger scale with consistent voice search assistance, increase employee engagement and development with AI based solutions, utilize machine learning to analyze market analytics, provide better customer services, smoothen and streamline daily operation. AI will empower business to grow rapidly by helping them to save time, automate processes, provide assistance, increase productivity and operational efficiency and take informed decisions.
Blockchain brings what is required the most in any business environment, ‘Transparency’. One of the reasons why Blockchain has the potential to remain in the top trending technologies in not only 2019 but for many years.
As it is quite challenging to expand businesses in unknown territories, Blockchain will make global expansion easier and more secure. In addition, organizations will be able to work and transact with unknown parties without the need of a third party. Blockchain came in to the picture due to cryptocurrencies. Today, blockchain technology is utilized to streamline complex management process, lower costs, implement transparent and secure channel, prevent hacks and data leak, and increase cash flow. In addition, blockchain also ensures rapid growth in various industries that includes legal, banking, real estate, government, healthcare, manufacturing, etc.
Except for the millions of devices being invented that are based on IoT, its massive growth is assured due to its acceptance on a large scale across the world. When the total number of connected devices across all access technologies could reach 25.6 billion, Bain has predicted that the combined market of the Internet of Things will grow to $520B in 2021, more than double the $235B spent in 2017.
Businesses are already taking advantage of IoT and they will continue to do so in order to enable security, safety, ensure informed decision-making process with the collection and analysis of the right data. IoT will improve business processes, operation management, productivity, security, increase revenue, understand customer behavior, decision making and much more.
In 2019, 5G connectivity will prove to be a boon for IoT resulting in its exponential growth.
As most of the trends highly rely on faster networking, 5G will certainly emerge as a means to bring evolution and faster growth. Quick management of massive data, interconnectivity of devices, integrated applications, faster communication will empower businesses to grow at an alarming rate. Businesses are already preparing for 5G and making strategies to leverage 5G in the best possible manner.
No matter what time it is, businesses always want to take advantage of the latest technologies to stay ahead of the competition. Today, technologies are accelerating business development and global reach. SO if you have ideas or vision or even a wish to create technology solutions for rapid growth?Or you need need help with developing reliable, secure, engaging and user friendly applications based on emerging technologies, then write to us at: email@example.com