Startup City Magazine
A monthly magazine for business startups and young entrepreneurs.

Latest Technology Trends That Will Impact Businesses In 2020

0

Latest Technology Trends That Will Impact Businesses In 2020

Technology is something that evolves all the time. What exciting developments and innovations can we expect to see?

 Looking at future techs and thinking about the possibilities make this tech age even more fascinating. The future is always exciting and there is not a single doubt that the basic idea of digital transformation will be a reality with innovation progressing at a tremendous rate of growth.

As per the statistics by 2022, 70 percent of companies will be experimenting with immersive technology for consumer and enterprise use, and 25 percent will have them deployed in production.

In this digital ecosystem that is transitioning from social, mobile, analytics and cloud (SMAC) to the distributed ledger and quantum computing, are you ready to grow your business with this modern advancement?

To make you aware of these latest advancements, we have come up with the list of the latest technology trends for 2020 that will shake up the market for years to come;

Hyperautomation

Hyperautomation is taking applications for task automation to the next levels. It enables the application of advanced technologies like AI and machine learning, to automate the process and augment human needs.

In several cases, it can mean the creation of a digital twin of the organization- allowing visualization of how functions, processes and key performance indicators coordinate to drive value.

But we cannot deny from this fact that no single tool can replace humans, hyper-automation will also incorporate a combination of elements like robotic process automation and intelligent business management software.

Democratization of Technology

The democratization of technology simply means the easy and simple access of technical domain to everyone; here profession and place do not keep matter. There are four key aspects of democratization of technology trends that will make it big this year:

  • App Development
  • Knowledge
  • Design
  • Data and Analytics

The best example of a democratization concept can be credited to developers, who will be able to generate data models without learning the skills of data scientists.

Although, there is still concern about the use of these latest trends in information technology in the coming days because it will also enable people to exploit easy-to-use tools that may harm society.

Augmentation Gets Human

The controversial trend of human augmentation mainly focuses on the use of technology to improve the cognitive and physical experience of a person. But it comes with a wide range of cultural and ethical implications.

Like, using CRISPR (clustered, regularly interspaced, short palindromic repeats) technologies to augment genes has important ethical consequences. Physical augmentation changes the inherent physical capability by implanting or hosting a technology in the body.

Here, applications include the use of wearable to enhance worker safety in the mining industry. But when it comes to other industries like retail and travel, wearable could be used to enhance worker productivity.

Edge Computing

In this new era the importance and efficiency of edge computing has steadily increased and 2020 will be the most fascinating year for vendors and consumers in the industry.

Edge computing is characterized by different types of app in different industries. The unique demands of computing, storing and networking for each use case will bring the progress of custom form factors right from process level to maintenance level.

Large-scale Implementation of AI Chips

In the last few years, AI chips have reached a usable state, and 2020 is expected to be a critical year for the large-scale implementation of AI chips. AI chips on the edge will be more low-cost, specialized, and seamlessly integrated into the downstream solutions.

Also, the neural processing unique will be the fundamental module of the next-generation edge-based general-purpose CPU chips. In the coming days, more and more device-based CPU chips will integrate deep learning framework as the basis for their design. Moreover, AI will redefine computer architecture and support AI training and inference as a unique concept of heterogeneous design architecture.

Practical Blockchain

Blockchain is a kind of distributed ledger; it is an expanding chronologically ordered list of cryptographically signed, irrevocable transactional records shared by all participants in a network.

Also, Blockchain allows parties to trace assets back to their origin that is good for traditional assets. But this paves the way for other uses like tracing food-borne illnesses back to the original supplier. It also enables two unknown parties to interact in a digital environment and safely exchange value without the need for a centralized authority.

Transparency and Traceability

Today, most of the consumers are becoming aware of their personal information and are demanding control. Most people these days know the increasing risk of securing and managing personal data. In addition, governments are implementing strict legislation to make sure they do. Transparency and Traceability are vital elements to support these digital ethics and privacy requirements.

You might be interested:

Free Accounting Softwares For Startups In India

IoT: Success Tool For Entrepreneurs

Assistive Tech Startups For Disabled People

You might also like
Comments
Loading...