“Every once in a while, a new technology, an old problem, and a big idea turns into an innovation” – Dean Kamen
Technology is one thing that keeps changing. Every change is an update, and to stay updated is the need of the hour! With so much of the work being carried out in the space of IoT, Automation, and AR, the year 2019 has been a great year for tech trends and innovations. Today, if businesses and individuals don’t keep up with the trends in technology, they are at the risk of being outpaced!
Keeping up with the latest technology trends is imperative, especially for tech entrepreneurs and enthusiasts, as understanding these trends will enable people to formulate and clench on to new opportunities.
Now, let’s talk about the latest tech trends of 2020 that you should be prepared for!
AI as a Service
Being one of the most prominent tech evolutions of this era, numerous companies across the globe have begun exploring how Artificial intelligence can streamline their business operations and how AI can enhance their customer experience. The year 2020 will see a lot more of AI as its integration with companies will lead to employees working along with AI-based systems.
The amalgamation of AI-based services with the SaaS business model has the potential of bringing this technology to users, like you and me, at very affordable prices. Today, some platforms are already providing AI services. Major players like Google and Microsoft have begun offering materials and solutions based on Machine learning. 2020 is likely to witness a growth in the adoption and integration of AI in business.
Blockchain technology is one of the most talked-about trends over the past couple of years. The thing is, even today if you talk about this technology to a new techie, he probably wouldn’t have a clue about what you are talking about. The year 2020 is possibly the time when this will change, and everyone across the globe will be familiar with the concept of this emerging technology.
Blockchain is primarily a distributed ledger that uses independent computers to record, share, and synchronize transactions while making sure that the data is centralized, as in a traditional ledger. Although blockchain technology was considered to be overrated, the technology has received consistent investments by established companies like Mastercard and IBM in 2019. These firms aim to bring forward the real-world benefits of adopting blockchain technology. Depending on the results of what these giants attain, the adoption of blockchain technology could see an all-time high across the globe. It is also possible that the year 2020 will witness the launch of Libra (Facebook’s blockchain-based cryptocurrency).
Autonomous driving has been a talk of the town for a couple of years now. Do you think we will witness these vehicles picking and dropping people in 2020? At this point in time, when we still don’t see autonomous vehicles on roads. It is not quite likely that these vehicles will be a part of our systems in 2020; however, without a doubt, autonomous driving will continue to generate a great amount of excitement throughout next year.
Elon Musk, the chief of Tesla, has also stated that he, along with his team, is looking forward to creating a completely autonomous vehicle by the end of this year. Elon Musk further went on to say that “the number of vehicles capable of operating with a lesser degree of autonomy – such as automated braking and lane-changing – will become an increasingly common sight.”
Fun Fact – Waymo (Google’s sister company) successfully completed a trial of autonomous taxis in California, transporting over 6200 individuals in the first month.
The year 2020 is expected to cover a lot of news and stories orbiting the automation of vehicles, trucking, and shipping.
Extended Reality is a mix of multiple new and upcoming technologies, widely used in the entertainment and digital space. To be more specific and clear, Virtual Reality + Augmented Reality + Mixed Reality = Extended Reality.
Talking about (VR) Virtual Reality, this technology enables a complete experience where you, as an individual, enter a world created by a computer, using headsets that completely off track you from the real world. What is (AR) Augmented Reality? This technology superimposes an image generated by a computer on a user’s view of the real world. Mixed Reality (MR) is essentially an extended part of VR that primarily enables you to interact with digital objects placed in the real world.
It is absolutely correct that these technologies have been around for a couple of years now, but the thing is they were always limited to the world of entertainment. The year 2020 is expected to witness virtual and augmented reality, as a technology, to become rampant for the purpose of training, stimulation and customer interaction.
5G sounds like a significant advancement, especially for people like you and me who are hooked to the internet all the time. With the introduction of a 5G mobile network, you will be facilitated with lightning fast downloading and uploading speeds along with a stable and robust connection. The 5G network was primarily launched in the year 2019. However, because 5G is still expensive, it is limited to operating in only significant cities.
The year 2020 is all set to become the year when 5G begins to take over the globe, coming up with affordable data plans and improved network coverage. 5G mobile network intends to make the entire communication sector a lot more fast and furious!!
The introduction of 5G to users across the planet will not only enable users to stream music and movies but will also eradicate the wired network that we still use in our homes and offices.
Fun Fact – 5G will directly benefit upcoming technologies like IoT, machines, robots, and autonomous vehicles by enabling them to collect and transfer data in vast amounts because of 5G’s increased bandwidth.
Statista – Forecast number of 5G subscriptions worldwide from 2020 to 2025 (in billions)
Outsourcing Software Development
In recent times, remote staffing and hiring of remote teams have become quite popular within the Information technology sector. According to research carried out by Technavio, from 2019 to 2023, IT outsourcing will grow at a CAGR of 4.42 percent.
It is widely being believed that the year 2020 will be particularly great for companies involved in IT staff augmentation and outsourcing. Various businesses across the globe are always looking for ways to increase their productivity while reducing costs. IT outsourcing firms are one of the leading sectors to grow in 2020 as most companies are working towards outsourcing their business processes by hiring remotely managed teams.
You may also be interested to know, how easy is it to set up your own offshore development team.
As mentioned earlier, every once in a while, a new technology, an old problem, and a big idea turn into an innovation. Technology around us is changing, and the change never stops. However, it might be difficult for everyone to grasp and grab the changes quickly. The list above talks about all the technology trends that are expected to boom in the year 2020. It is safe to say that 2020 will be an interesting year for major tech entrepreneurs and companies.