Top Tech Trends For 2020 and 2021

Knowing what is going to be popular ahead of the general public and more importantly, your competition is a good way to stay profitable. Businesses able to grasp these opportunities early can reap the significant benefit. Conversely, those organizations that fail to keep up run the risk of being left behind.

This year’s list of tech trends shows that many of the newer innovations are focused on solving specific, persistent IT challenges. Other trends on our list demonstrate opportunities in the enterprise space. Regardless of the sector or focus, they share one thing in common. These innovations will radically change the way businesses function and work.

5G Data Networks

5G is coming and it is only a matter of time. While there are some rumblings and concerns about its potential to impact our health, there are too many benefits to stop its ascension. 5G networks will improve upload and download speeds dramatically and while it was available in 2019, it was limited to major cities and was quite expensive.

5G will be available at a more affordable price point in the latter half of 2020. While many people will simply use 5G networks as a replacement for existing LTE and 4G networks, the truth is that 5G will benefit businesses significantly. 5G you see is a requirement for smart cars and even more so, smart cities.

The Ascension of AI and AI as a Service

AI is changing businesses on an almost daily basis. Whether it is within the healthcare sector where AI is helping to diagnose and treat patients to the financial sector where AI is improving customer service, AI’s impact is only just starting to make itself known. What will change is the familiarity people have with and for AI. Once considered negatively as a risk to an employee and their future employment, AI has been transformed. Now, employees believe more than ever that AI can improve their abilities and skills and help them provide a better and more personalized experience.

AI is currently being provided as a service by a host of different companies and it is expected that this model will continue through the remainder of the year. Companies like Amazon, Google, Microsoft and others are at the forefront of this charge and their platforms are very broad. This means that the creation of customized applications requires significant time and resource. Throughout 2020 and onwards, it is expected that many new players will appear with more personalized tools and applications.

Prescriptive Analytics

Historically data has been arranged to allow for an understanding of the changes that have occurred. By looking at historical data, analysts have made attempts to predict future events.

Prescriptive analytics builds on this in some fashion to not only give an idea of what to expect, but also options about what can be done. While it is only a small distinction and difference to predictive analytics, it has already seen fruitful application in healthcare and the oil and gas industries.

Extended Reality (XR)

We’re used to the phrase virtual reality (VR) from television and movies. We’ve even started to see some smartphone applications and games take advantage of augmented reality (AR). Extended reality is the way we refer to these technologies and others like mixed reality (MR) that are only just being deployed.

While the extended reality applications have been available for a while, they have primarily been used in the entertainment world. This is set to change in 2020 and 2021 as businesses start to take advantage of the benefits this technology provides.

Digital Twins

While this might initially get you thinking about avatars and retail environments, digital twins are somewhat more complicated. Companies have been using virtual models for years to forecast and plan out strategies. Today’s technologies like IoT sensors and improved simulation and modeling tools have enabled businesses to create simulations that are more detailed and informative than ever before.

Digital twins can dramatically improve efficiencies with supply chains, manufacturing and even help in the area of maintenance. As companies continue to build out models and use digital twins in more ways, these capabilities will only increase.

Wearables and Augmented Technology

What started out simply with fitness trackers and a way of tracking exercises has now become its own cottage industry. A smartwatch for example can be used on a golf course as a range finder but, when the same device can identify emergency services about health issues, its no longer just a toy. Similarly the transition of eyeglasses into technical tools with built in guidance and AR information helps us in ways we’re only just beginning to explore.

Wearable technology has transformed the way we play and live and become something many people have come to rely on. As this technology continues to grow and advance, we expect to see future technologies where humans and technology integrate more closely — perhaps this is the gradual start of a cyborg future with augmented humanity at the core.

Voice Interfaces and Chatbots

AI controlled self service voice interface tools like Alexa and Siri are almost commonplace now. While earlier they evoked a sense of wonder, they have become so ubiquitous and part of the landscape that it’s only through their lack we realize how much we’ve come to depend on them.

As this technology continues to advance and mature, more businesses will come to rely on and use the service as a primary means of dealing with consumers at the front line. Chatbots while similar will continue to grow and advance in ability and scope. Currently paired with knowledgebases to function, future chatbots could have more AI and ML capabilities embedded letting them teach themselves.

Conclusion

Technology and business are linked at the hip and changes in one can often make or break the other. It’s important for businesses to stay current and informed about what is popular now, but perhaps even more important for them to understand what will be popular in the future.

This is where we can help. At NIX we understand technology and business. We know how the two work in partnership, and we can help you ensure you plan to take advantage of changes to achieve your business goals.