Is your business aligned with the rapid adoption rate of emerging digital technologies? Have you built a strong foundation comprising of mobile, social, analytics, and cloud to drive your business through the post-digital wave? Well, all these questions are crucial for businesses as they assimilate the emerging technologies in 2020.
In the current business market, digital realities are changing customer perception around products and services and making them hyper-personalized. Without a refined technology vision, it’s difficult to meet the requirements of constantly changing demands of a digital market.
Adopting new technologies is no longer a luxury but a necessity to stay relevant in a fiercely competitive market. In this article, we will discuss three emerging technologies worth investing in 2020.
The rise of 5G is one of the most exciting emerging technology trends in the near future. 5G networks have a tremendous capacity to streamline business workflow and enhance service delivery for businesses in 2020. Several industry experts term 5G as the future of communication, and in most cases, it’s true.
According to a statement by Huawei, 5G wireless networks have the power to support 1,000-times the capacity of existing networks. It further claims that the new technology can provide connections for at least 100 billion devices, as well as speeds of up to 10 Gb/s for individual users.
All of this will ultimately result in better user experience and extremely low latency and response times. We can expect 5G networks to emerge between 2020 and 2030.
However, if you want to provide such network capabilities to everyday mobile users, network service providers will need to enhance bandwidth and minimize network costs. At the same time, LTE adoption will not wane as 5G emerges, and LTE networks will reach $672 billion by the end of 2020. Nevertheless, 5G capability can be revolutionary for businesses worldwide.
Technology powered through is not something new in IT circles. However, nowadays, further developments in AI are beginning to shape industries globally. Everything from data analytics, intelligent and automated solutions to self-functioning drones and machines are transforming businesses across the world in 2020.
Although at present, most emerging technologies have some forms of glitches that need improvement, because of their enormous prospects, AI products are bound to become revolutionizing technology trends in the coming years.
Democratization of Technology
The democratization of technology represents easy access of technical domain to every form of business, irrespective of expertise, profession, or place. It focuses on the easy delivery of technological solutions to businesses, even providing several services for free or at lower costs.
According to Gartner, the democratization of technology will be influenced by four key aspects in 2020. These key aspects will relate to application development, design, knowledge, as well as data and analytics.
Because of this rising technological trend, developers will be able to generate data models and intelligent tools without learning key aspects of data science. Using these easily available solutions, businesses can streamline existing workflows and provide better quality services to their users.
In 2020, companies all around the world need to adopt the latest trends in technology to stay relevant in business. By investing in the solutions above, your business can earn a competitive edge over your rivals and dominate a market fuelled by digital solutions.