It’s already the roaring 20’s! Within the span of a decade or even less, our lives have been impacted by a lot of technological advancements. Whether its Google maps completing 15 years or personal assistants like Alexa, Siri and Google Assistant coming into our lives, the journey has been effectively advanced.
There was a time when people believed that by 2020, we can see flying cars and airborne robots. Instead, today we live in a world where our lives are swarmed by the Internet of things, smart devices and data analytics which processes our thought process much before we think of something!
While 2020 might bring in a lot of new advancements to the current technology, it might also come up with few technology-related innovations for the first time. Let’s take a look at what we think could be new additions in the year 2020:
- Hyper-automation: Hyper automation is basically an advanced version of Artificial Intelligence and machine learning which elevates task automation to the next level. It impacts processes in ways which are more beneficial than traditional methods. This will involve a combination of tools which will help in replicating pieces in which a human is involved in performing a task. This will be 10x more effective than a human and might be the reason for eliminating and making a lot of routine jobs obsolete. According to a PwC report, this will result in displacing around 3% to 30% of jobs from the early 2020s to mid-2020s.
- Better targeting by businesses: Today all businesses focus on ensuring that they market their consumer correctly. Out of the thousand brands that show advertisements to the consumer, the best results are yielded by the one who does their data analytics correctly. Social media has become the most deep-rooted factor in people’s lives which has resulted in digital integrated data analytics and generated a lot more information than anyone could ever analyze. They thus adapt to an individual’s preference with the help of the latest technology.
- Distributed cloud: Cloud computing has been here for a long time but the next big thing that will hit the tech ecosystem is the distributed cloud system. Connecting the public cloud distributed operation of cloud services to specific locations is what distributed cloud helps in. It was assumed that by the year 2020, 75% of the enterprise generated data will be processed, regardless of the centralized data centre. This new technology seems to be a breakthrough in the technological age. Since it can be expanded by adding more machines, it helps companies to scale up their systems. Also, making the systems work in compliance and cater to their data privacy norms.
- The empowered edge: The computing topology in which information processing, data collecting, and delivery are kept close to the sources and consumers of this information is called the Edge Computing. According to Garner, edge computing will become a dominant factor across all industries as the edge is empowered with more storage capacity and sophisticated computing resources. This will extend the role of devices as the basis for smart spaces and will move key applications and services closer to the people and devices that use them.
- Blockchain will be put to practical use: “Blockchain is a type of distributed ledger, an expanding chronologically ordered list of cryptographically signed, irrevocable transactional records shared by all participants in a network,” describes the Gartner report. It is said that 2020 will be a decade when thirty years after first being theorised – blockchain technology finds its home outside of crypto mining. Blockchain has also found its usage for increasing traceability along supply chains, and could even reshape the way that banks secure their reserves. This is a big invention which will help reshape the banking sector and it’s economy of the world.
We predict that while there are concerns about the impact of the workforce, there is little doubt that 2020 will be a time of innovation as people better leverage technology. With the way people are leveraging technology and going ahead with innovations, the world is going to be a much better place to live in! All we have to do is focus on the key elements of trust: integrity, openness, accountability, competence and consistency.