Top Technology Trends of 2020 are Going to Transform Your Business

Wondering why you should be aware of top technology trends of 2020? Because technology is evolving rapidly and is soon going to take over the human labors.

Whenever the topic of the evolution of technology comes up; scenes of killer robots and computer-gone-rogue come to our mind. We all start to imagine our end like in Hollywood movies “The Terminator” and “Blade Runner”; where technology goes against humans. But the significant positive impact of technology on our life can’t be neglected.

Technology is something; which has expanded its roots in all the sectors, verticals and environments of our lives. If you are thinking that current trends in technology are going to affect only the large industries and enterprises then you need to think again.

The progression in technology will be impacting business opportunities and customer experiences for every industry vertical.

Digital awareness is the only way to save you from lagging behind. This blog is going to cover the top trending technologies for 2020, which are going to astound our lives.

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At the end of this blog, you will get the answer to technology-related queries like:

How to Use Technology in Business Growth Strategies?
What new technology can we expect in the future?
How client services are changing due to trends in technology?
What are the biggest technology trends for every business?
Can new technology harm our future?

Let’s move forward to understand the impact of latest 7 strategic technology trends for 2020:

Internet Of Things

Internet of things is most popular among the latest technology trends. IoT has introduced the interaction of machines with humans. With the concept of connecting unconnected things; IoT has introduced concepts of smart XYZ. IoT has increased the efficiency and effectiveness of work and has decreased the risk of human error. The swift growth of IoT is predicting a unique prospect of digital living.

By 2019; Internet of Things will have total potential revenue of $490 billion with more than 1.9 billion smart home devices.

SEE ALSO: Latest Internet of Things Trends for 2020

Let’s check out the impact of IoT in the upcoming times:

Industrial IoT

Balancing big data and machine learning industrial IoT is revamping manufacturing sector. IIoT is introducing smart machines to dominate sensor data, manage machine-to-machine communication and automate operations.

Smart Areas

After smart homes, smart offices, smart parking the next hype will be smart areas. Kiosks for everything, cloud connectivity for public transports, virtual maps with live traffic and many more.

Healthcare

IoT is boosting the patient engagement and contentment by connecting healthcare providers with the patients. Remote monitoring of smart sensors along with medical device integration is going to deliver advanced care to the patients.

Voice Enabled Technology

I would like to end the list of best technology trends of 2020 with Voice enabled technology because it is my personal favorite. It is already predicted that by the year 2022 55% of U.S households will have smart voice assistants like Amazon Alexa, Google Home, and Apple HomePod.

By 2020; 50% of all the searches will be voice based with 35.8% of increase in number of users.

Impacts of Voice Enabled Technology

Better customer experience

Voice search when combined to artificial intelligence can transform the customer experience based on previous conversation. This will be best used for retail industry; assistant can help the users to buy the products from purchase history.

Search behaviors will change

As per marketing perspective; SEO will change the keywords and search terms. Now longtail keywords will be the priority for organic search and brand visibility.

Augmented Reality/ Virtual Reality

AR/VR technology is renowned among all age groups and industrial verticals. From Kindergarten education to assisting engineers at construction sites AR & VR is transforming the world. Augmented Reality and Virtual reality is already booming and with upcoming time we are going to witness a whole new level of machine interaction with humans.

By the year 2021; the AR+VR market size will reach to $215 billion with more than 1 billion users around the globe.

2020 Predictions and Impact of AR/VR:

Smarter Mirrors

The concept of smart mirrors is already introduced and is under trial at few retail stores. A better version of the smart mirror is going to overtake the fitting room space in fashion stores.

Healthcare

Augmented reality and Virtual Reality apps are already playing a vital role in the healthcare industry by helping patients of certain diseases like PTSD, Alzheimer’s and Autism. Upcoming years are going to witness a new revolution in healthcare with mixed reality diagnostic tools for a disease like dyslexia, ADHD, depression, and dementia.

Construction and real estate

3D models and videos are going to be obsolete; live demonstration from AR/VR is going to take over the construction and real estate industry. The property will be displayed in real time on smart devices.

Manufacturing industry

With digital prototypes of products, AR/VR is going to add a value touch in the manufacturing sector. Instead of building physical prototypes; digital ones are many costs effective and feasible.

Artificial Intelligence

We have begun our list of hot 7 strategic technology trends for 2020 with Artificial Intelligence because of its most anticipated trends. Artificial Intelligence is not a single technology; instead, it is a group of technologies like machine learning, natural language processing, expert systems and many more.

AI has made it easy for machines to respond as human beings and this has made AI an essential part of our everyday life. As per the latest report by IDC, the annual growth rate of global expenditure on AI will reach to %57.6 billion till 2021. This is enough to explain how much companies are investing in the AI tools.

Impacts of AI

Smart cars

Self-driving cars are something we all are hearing for a long time. After the trial of Uber, Autonomous cars have gained a lot of hype. It is expected that by 2020; Artificial Intelligence and self-driving cars will lead to smart cars. Cars; which can learn the environment, driving, and behavior by themselves.

The rise of AI assistants

Alexa, Google Home, Siri, Cortona, and Homepod are already invading our homes and offices but companies like Hyundai and Kia are integrating AI assistant with the vehicles as well. Technologists are hoping to witness AI in other sectors as well.

Better domain adaptability

The present AI tools are not able to get accurate self-learned results from machine learning. They need relentless training on each content category and subject area for deep domain knowledge. It is predicted that AI tools will get advancements with better domain adaptabilities.

Retail

Chatbots are going to be more specific and are going to manage the unsatisfied customers. Along with chatbots, AI is going to help in fraud detection.

Finance

There is no doubt to say AI has been proved to be a better investor at the stock market than any human beings and now with time we are expecting Artificial Intelligence to take over the stock market.

Cloud Computing

Cloud computing has introduced an emerging infrastructure model to enable omnipresent access to sharable networks, storage, applications, and servers. With benefits like scalability, ease of installation and low maintenance cloud computing is invading our daily life scenarios as well. The recent report by statista, by 2020 the cloud market for the public will expand to a size of USD 159.128 billion.

Let’s check out the future impact of cloud computing on multiple sectors:

Wearables on-the-go

Smart watches, smart glasses, smart rings are already leading the tech world. Technologies like digital implants and smart tattoos are going to bridge the gap of physical connectivity instead of third-party devices.

More Digital Natives

With the increase of cloud apps like Netflix, Dropbox, Whatsapp, Twitter, everyone is getting tech-savvy leading to a more cloud-based world.

Everything as a service

PaaS, SaaS, IaaS are already making the digital life easier for non-tech savvy and are holding a great portion in the IT infrastructure. The monthly or annually tiered subscription option to leverage these services is making it easier to utilize the power of the cloud for everyone. Hence we all are looking forward to getting EaaS.

Intelligent apps

I-apps are among the recent trends in new upcoming technologies. These are the apps that use real-time data with user interactions and predict or suggest personalized experience to the user. Intelligent apps are the successful outcomes of combining app development with artificial intelligence, big data analytics, and internet of things.

Here are the impacts of intelligent apps on our daily life:

Context-aware notifications

Beacons are already serving their role in context-aware notifications, but soon beacons will not be necessary to send alerts and messages. With 5G connectivity context-aware notifications are going to be a common thing. The apps can surface data and send alerts based on calendar, reminders, emails and traffic route.

Automation of everything

We all are aware of the functionalities of chatbots and how they are creating a new scope in communications. The days are not much far when chatbots will be able to automate the conversation and manage the responses accordingly without the need of any human intervention.

Blockchain

The blockchain is not a new technology, but it has gained a lot of hype because of the successful adoption of cryptocurrencies like Bitcoin. The blockchain is a digital distribution ledger which can keep all the data records or the money transaction between two parties transparent, secure and immutable. Experts have already predicted that blockchain is going to revolutionize the traditional business process.

The worth of Blockchain market is expected to grow upto $20 billion by 2024. Today more than 69% of banks are experimenting the permissioned blockchain.

Let’s check out the predictions and impact of blockchain on multiple industries:

Finance & Banking industry

As per the recent report; by the year 2020 77% of financial institutions will adopt blockchain technology as a part of an in-production system. Blockchain will help banks to conduct faster transactions at much lower costs; it can reduce extensive bureaucracy and improve security.

Cryptocurrencies as National Currency

Cryptocurrencies themselves are into popular strategic technology trends because of bitcoin. Gartner has predicted that; by 2022 at least 5 countries will have their own national cryptocurrencies. By the end of 2020 banking industry is going to gain 1 billion dollar business value from the usage of blockchain-based cryptocurrencies.

Better government database management

Today, all the government departments have their separate database. It is no doubt that they constantly require data from each other. Implementing blockchain technology will lead to effective data management, as a result, will improve the functions of government agencies.

Over to you!

Technology is evolving and learning faster than humans. The advanced technologies we used to witness in movies are in front of us and we can’t deny it. Don’t you think we should start adopting the top technology trends of 2020 from now onwards, to keep our business and our lives updated?

Want to discuss the impact of the top 7 strategic technology trends for 2020 for your business niche? Looking forward to integrating these trends in your enterprise operations? Connect with a team of experts and learn the role of technology to redefine your business functions.

Top Technology Trends of 2020 That are Going to Transform Your Business