Tech Trends For Enterprises In 2020
The future is here and the machines are rising.
Some of the biggest changes affecting the business world and our personal lives everyday are how machines such as mobile phones, computers, robotics and artificial intelligence are increasingly taking over daily tasks, from inventory management, traditional banking to managing our daily dialogue.
Here are some of the tech trends for 2020 that are set to directly affect enterprises.
1.) 5G Connectivity
The fifth generation of mobile networks opens up faster connection activity, bandwidth for mobile operators, not just in business but also in the home.
The expansion of 5G for 2020 will see a reduction in cost and open to a wider audience. Transmitting data at 10 gigabits per second, the fifth-generation network will deliver up to a hundred times faster data speeds compared to what the best 4G LTE connection can provide today. The acceleration and higher speed connectivity will have huge benefits on data transfer, pushing data into the cloud and taking away the reliance on fibre in inner cities and remote areas.
5G will help revolutionise several industries, including manufacturing, agriculture, transport and health sector – making factory automation, communication between self-driving vehicles to regulate traffic or real-time surgical operations performed on patients in different time zones a reality.
Imagine managing all your property and getting quality services from a cloud based central point – your phone, drones, cameras, car, television, laptop, bank, health, education, real estate and other businesses. Rain is offering 5G to its clients already and although coverage is still limited the 5G revolution is well underway.
2.) Artificial Intelligence And Machine Learning
The use of artificial intelligence and machine learning in business is helping better define the best use of data for companies to identify strengths and weaknesses. A lot of businesses are daunted by the prospect of AI, partly due to an abundance of misconceptions around it. Most people think it systematically works towards replacing a human workforce. It does not! What it actually does is help you realize the latent potential of your team, which is currently bogged down by tedious processes.
Conversational AI is improving daily with Chatbots fast becoming “must-have” assets for leading businesses. Though their performance is still very far from human, they are improving daily and are a necessity as businesses are able to trade across borders more than before. Such innovations are able to improve scale, efficiency, and in some cases, impact.
Starbucks has launched an app called ‘My Starbucks Barista’ in which you have to tell the app the kind of coffee you want, and it places an order for you.
Both enterprise and consumer tech vendors are also racing to build AI into their products, via in-house development or Mergers and Acquisitons (M&A). Tech giants like Apple, Amazon, Facebook, Google, and Microsoft have been buying up AI and ML companies for a decade.
3.) Mobile Payment Systems Control
The broad concern in the banking industry is that the important share of revenues and the traditional ways of doing business is at risk due to the emergence of Fintech startups that are challenging the established players.
The battle between traditional banking, cryptocurrency merchants, and software startups on who can now also control and make the money from online payments and mobile payment systems will go on. Business and individuals have more power and choice on how to invest their capital. Global Unbanked Mobile Payment Market Forecast to Reach $307B by 2025
4) Flatter Organisations
The old hierarchical structures are fading away. Businesses need to move quick not only in strategising but in execution, this has led to the collapse of traditional structure models. Tech tools such as Slack, Proofhub, and Grammarly have replaced redundant functions reducing time spent and bureaucracy to make decisions and getting the right information across quickly and effectively.
5) Redefined Mobile App Look And Functionality
Samsung’s foldable OLED display has prompted further development of traditional mobile apps. Operating systems are getting ready to make use of this technology to give a more immersive experience. With multi-windows, a user can perform multiple tasks at the same time and, with a bigger screen, has space to offer additional information and controls.
Facial recognition, voice commands and apps on wearable devices are marked to grow.
6. Security: Don’t Forget The Basics
Security is still, at best, a work-in-progress for many organisations. And security is still a minor consideration for many business leaders too. Perhaps that’s because there have been so many leaks that they think the risk to their reputation is low.
More apps and devices mean security teams are already spread too thinly. Add in new risks like Internet of Things projects, 5G devices and deepfakes and the challenges mount, unless companies take the broadest possible view of security. Organised crime and ransomware will still be the most consistent threats to most businesses; state-sponsored attacks and cyber-espionage will remain an exotic but potentially high-profile threat to a minority.
For all this, the biggest risks will still be the basic ones; staff falling for phishing emails, or using their pets’ names as passwords, and poorly configured cloud apps. There will always be new threats, so prepare for the strangest while not forgetting the basics.
Other advancements include:
- 3D printing advances;
- Organizations focusing on agile and a DevOps culture;
- Higher adoption of low-code and no-code solutions;
- Entire organizations – not just IT – focusing on reducing technical debt and legacy debt;
- Improved IoT security;
- Privacy by design and security built into products/software.
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