Explore the digital transformation trends that will most likely make headlines in 2018.
Technological advancements are endless and a lot has changed in the last year. It’s time to explore the digital transformation trends that will most likely make headlines in 2018.
Big Data — Big Changes:
Mass increase of worldwide data means that Big Data will encounter some big changes, drive major innovation and disrupt established business models in the years ahead. Big Data, in the upcoming years, will drive important predictions and calculations, and will add a supplementary level of ‘smartness’ to business intelligence. By employing cognitive technologies to retrieve dark data, big data will help prevent security breaches, fraud and help businesses achieve higher efficiencies and growth. According to a recent report, around 90% users can now perform detailed analysis on critical data whereas the data retention has increased to 82%. A report by IDC predicts that worldwide revenues for big data and business analytics will grow more than $203 billion by 2020. By 2025, there will be 180 Zettabytes of datagenerated per year and much of this data will come from IoT.
AI hype will begin to fade:
While the total market size for AI will almost have a twofold increase on a yearly basis, AI will still outgrow the phase of inflated expectations. A research report by Forrester, Predictions 2018: The Honeymoon For AI Is Over, forecasts that the next phase of AI is all about transformation, reality, planning, liability and substance over flash. In 2018, 70% of the enterprises expect to implement AI over the next 12 months, up from 40% in 2016 and 51% in 2017. 20% of enterprise will deploy AI to make decisions and provide real-time instructions. AI will erase the boundaries between structured and unstructured data-based insights. Counselor-chatbots with the ability to recognize human emotions will be developed in 2018.
5G revolution will draw more attention:
The latest 5G technology will continue to draw more attention in 2018 as the continuous boost in big data volumes and transactions will create a need for higher data/network speeds. According to a report by Qualcomm, 5G enabled smartphones are expected to arrive in 2019. 5G is likely to take things to a whole new level with ~10GB/s download speeds that too incredibly faster than 4G. The potential of the breakthrough Gigabit LTE technology was showcased earlier this year on the Sony Xperia XZ Premium and Samsung has also been active in the 5G domain.
Blockchain to unlock its potential:
According to Gartner, as of February this year, Blockchain was the second-most frequently searched term on their website with year-long increase in search volume vaulting up by 400%. It is expected that more use cases for blockchain deployment will come into view over the next couple of years from different industries. Deloitte predicts that blockchain may soon overtake other technologies such as cloud computing, data analysis and internet of things in venture capital investment. The financial industry will be the first one to begin utilizing this incredible technology followed by healthcare, entertainment and hospitality. Blockchain startups will be funded by venture capitalists, and the technology itself will become faster, more reliable and more scalable.
Edge Computing making its way:
According to Business Insider, more than 5.6 billion IoT devices will be used for edge analytics and computing by the government and enterprises by 2020. Potential in hardware and software-based innovations will continue to pick up momentum in 2018. Enterprises are expected to use edge design patterns in their infrastructure architectures, mainly for those with important IoT elements.
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