If there’s one thing we’ve learned this year, it’s that no one can forecast the future. That isn’t to say we can’t make educated guesses about how we’ll be affected by today’s emerging technology and the new technologies on the horizon. In this blog, we discuss the emerging technologies for the future.
Experts polled global leaders from a variety of industries, including healthcare, manufacturing, and retail, as well as financial services, telecommunications, life sciences, and government to know about the most popular technologies of the future. Below, we discuss how these five trends will affect your company’s operations and consumer experiences.
Cloud Computing
Cloud computing capabilities are extended beyond centralized data to support various locations and edge devices in a distributed cloud. It’s no surprise that cloud capabilities become mission-critical in 2020 as a result of the epidemic. Cloud deployments will continue to evolve as enterprises embrace cloud technology, molded by data integrity, security, and use concerns. Leading companies are adopting multi-cloud strategies that orchestrate shared services based on the kind of experiences they wish to provide as well as their data governance, residency, and privacy requirements.
Hyper-Automation
Hyperautomation is the use of modern technologies to automate and simplify work, such as artificial intelligence (AI), robotic process automation (RPA), business process management (BPM), and machine learning (ML).
The importance of automation in improving operational efficiency has never been more apparent than this year. According to our research, industry leaders are automating 80% of business activities, such as ticketing and data processing, in order to work more effectively and provide better experiences for their customers and workers.
It’s critical to note that hyper-automation isn’t a single technology; rather, it’s the combination of existing digital capabilities like BPM, AI, RPA, and low-code that work together to improve business outcomes. Organizations that excel at this take an iterative approach, gaining early wins through smart platforms that orchestrate enterprise technology and use low-code to achieve their goals.
AI Governance
Creating norms and guidelines for the ethical use of data in AI and machine learning applications. The need for AI governance and transparency is becoming increasingly urgent. Artificial intelligence is increasingly being used in analytics, choices, and business processes, and the leaders in our survey admit to grappling with increased regulatory obligations such as GDPR, CCPA, HIPAA, and others. To be competitive, you must reassure your customers that their data is safe and that AI is being used fairly and impartially.
Extended Edge
Enabling more processing power and capability at the network edge for the Internet of Things (IoT) devices and users. The worldwide edge computing industry ($3.5 billion in 2019) is anticipated to surpass $40 billion by 2027, with 96 percent of survey respondents expecting it to be “emergent” by 2025, thanks to the explosive expansion of cloud computing, IoT devices, hyper-automation, and the arrival of 5G.
The pandemic highlighted the need for increased processing capacity at the edge, particularly in businesses like healthcare, manufacturing, and retail that rely significantly on data that needs to be processed closer to its source. Edge technologies are already transforming the user experience, from Apple watches to smart automobiles and refrigerators, and firms that are first to market will have an advantage.
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