Businesses have invested heavily in digital transformation in the past decade. It began as a trend to have a competitive advantage but it ended up becoming a mandatory norm when the decade ended. We witnessed a multitude of new technologies being leveraged, disrupting the conventional ways of getting things done. We also witnessed that the term “disruption” becoming synonymous with success and innovation.
We expect this to be a revolutionary year for businesses. These changes can be overwhelming when it comes to the right places to invest in. All sorts of businesses have to improve themselves by incorporating new technologies and leveraging them to deliver better services. And when we say “all” sorts of businesses, we mean all of them from ISPs to corporate giants. Even if it is about Spectrum Mobile plans, they have to incorporate robust technologies to enhance their services.
Tag along to know the new technological trends, which will dominate this year.
The Data Turnaround
We are going to witness the rise of refined technologies, which will change the relationship between customer data and businesses. Since we are still dealing with privacy and data issues, we expect the maturation of privacy tech. Users will enjoy better and refined protection of their data. Users will have the benefit of occluding their online footprint. They will also be able to open APIs, which will allow businesses to make the data streams readily available to third parties in various adjacent fields. This can lead to craft better, connected, and complimentary services.
Businesses are being pressurized to make their data is readily accessible. This year, they will be able to make data accessibility better. This will result in providing a variety of horizontal services.
Another promising disruption we are expecting this year is computer vision. This means that computers will be able to see and comprehend the content of multimedia such as videos and photographs. For the uninitiated, it is the same technology that is enabling facial recognition feature, and powering google image search.
Computer vision will be leveraged more in 2020. Autonomous cars will be seen navigating their way around in times of danger is one instance. You will also see it put to use in identifying failures and defects in the production lines.
The only drawback in this technology revolves around the potential debate of how computer vision can erode privacy.
We have heard so much public whining about facial recognition messing with people’s privacy. We have even reckoned it a controversial technology. But this year, we will see people being more aware and accepting of it. Experts believe that facial recognition technology will play a big role in the upcoming Tokyo Olympics, 2020. It will facilitate admission into the stands.
We are finally expecting this technology to be leveraged to its full potential. The opportunities are endless.
To all the computer-generated environments, we use the umbrella term of extended reality. But primarily, it includes AR (augmented reality), VR (virtual reality) and MR (mixed reality). It is also inclusive of several emerging technologies, which are being leveraged to create a more immersive digital experience.
These technologies are not new but they haven’t been explored to their full potential. They have been essentially confined to the entertainment world. They are actively used in video gaming, smartphone features, and camera filters. But in the last few years, these technologies have been explored to be more beneficial to businesses. They have helped in creating new apps and solutions like simulation and training solutions. They are also allowing new and robust ways to interact with customers.
In 2020, we expect VR and AR will be leveraged more in various industries.
Retail banking experts are envisaging alternative payment methods to leave a big impact this year. We will witness digital and cryptocurrencies to be rooted in the traditional bank accounts instead of just being distributed through ledgers. With these account-based services, users will be able to move money peer-to-peer. It will be as simple as making payments as digital services in mobile banking apps.
The main focus of these apps has been in consumer banking but now they are emerging to cater to business users. Businesses can save at least a small fortune by shifting from cards to direct account payment methods. The challenges will be frauds based on identity thefts, socially engineered scams, email hacks, and leaky authentication processes. We hope to see these procedures being refined in the near future.
We are quite familiar with the NLG or Natural Language Generation. We have embraced Alexa for quite a while now and it is doing a lot more than playing your favorite J. Lo track. It is refining into answering complex business and data queries. NLG is working to humanize data and help users to better understand the meaning of insights in a real-life context.
Businesses will be able to leverage smart talk to simply their business operations. For instance, you will be able to see your sales data query about product A versus B displayed in a neat bar chart.
In the contemporary analytics space, the latest buzzword is edge computing. For the uninitiated, it is defined as practicing data processing near the edge of the network and where the data is generated. It is a shift from data processing that is centralized in a warehouse. Data processing near the source will not just reduce the costs related to massive internet bandwidth usage. It will also allow apps to respond instantly even if they are used at remote locations.
Edge computing is emerging as a more reliable and faster technology because of the close proximity to the connected apps. It is also more secure because it allows sensitive info and data to be filtered. It has also turned out to be a cheaper way for companies to scale their operations because there is no expensive infrastructure investment involved. Imagine you have subscribed to Spectrum Maine and they are offering a TV plan within the price of the Internet package. This is the kind of cheap we are talking about here!