MENU
GET LISTED
GET LISTED
SHOW ALLPOPULAR CATEGORIES
  • Home
  • B2B News
  • 9 Future IT Trends & Predictions for 2020 You Should Be Thinking About

9 Future IT Trends & Predictions for 2020 You Should Be Thinking About

Category: B2B News

In the span of 59 years our computing power has improved by 1 trillion times. That’s because new technology can become the foundation of other technologies. Those new technologies could then become the basis for newer ones. And the cycle continues. As a result, IT trends are getting harder to keep up with.

This article covers the latest information technology trends in 2019. Most of them have been around for some time but are still gaining traction over the years. The benefits that each technology provides and some of the drawbacks encountered by their users are discussed here as well. It also shows how the trends are projected to move in the future.

it trends main web final

Laying down the groundworks

According to Moore’s Law, the processing speed of computers doubles every 18 months. That’s why the technological progress of the entire first century can’t be compared to the progress over the last 10 years. Many trends had come, made an impact, and got replaced.

global IT worth

However, there are some that simply persist a lot longer than others. A perfect example of which is the internet. From ARPANET to the World Wide Web, it has come a very long way. It became the foundation of so many other technological advancements and until now, improvements upon it is being made.

Just like the internet, there are other technological developments that have persisted for some time now; though not as old. But most of the time, they are quick to change. In order to help you keep up with the 2019 IT trends, we’ve listed some of them.

1. Artificial Intelligence

Artificial Intelligence, hyped as it may be years ago, is still a growing trend. It has already shown lots of functionalities that people 10 years ago would think are only possible in sci-fi movies. It’s not, however, showing any sign of momentum halt at all. New applications for personal, professional, and business purposes are being discovered for AI every day. If it’s the future of AI we’re talking about, the perfect description for that would be “limitless potential.”

It’s not a surprising turn of events, however. That’s because the very notion of machines thinking and behaving like human beings are revolutionary. From the first AI program in the 1950s, this field has come a long way. People of today are exposed to artificial intelligence on a daily basis; a testament of its wide range of application.

It’s present in home appliances, on phones, in hospitals, agriculture, military, government, and the list goes on. AI has also become the basis for tons of technological innovations such as face recognition, data processing, speech recognition, etc. Furthermore, the technology can also be used for business front such as an AI-powered customer service.

However, as many benefits as it brings, there’s still a lot of controversies revolving around the field. Robots uprising is perhaps the most popular concern regarding the advancement of AI technologies. But there are more pressing issues than that such as the dissolution of many jobs. Some experts claim that by 2030, over 73 million jobs would become obsolete.

It’s not all bad news, however, since automation will create new jobs and welcome various existing professions into its space. This includes developers, testers, programmers, tech specialists, etc. A degree of retraining might be required for some people but it’s better than completely displacing them.

consumers already using AI technologies

What are the advantages of AI?

  • Efficient. AI-powered machines and applications are capable of processing data at an amazing speed and accuracy. Thus, a task that would require an expert to do in a few hours can be done within seconds. And the result would be just as accurate, if not more.
  • Less prone to errors. Human error is one of the most commonplace types of errors and AI solutions don’t suffer from that. They don’t experience lapse in focus, fatigue, stress, and other issues that would lead to simple mistakes. They don’t have emotions too so everything they do is based on logic.
  • Able to work 24/7. Machines don’t get exhausted and thus, require no rest. Perhaps one of the biggest advantage of AI over human when doing a job. As long as they’re given proper maintenance, they’re good to go for hours straight.
  • Can be deployed on risky situations. The human body is fragile, compared to a machine at least. There is a lot of work that is both dangerous and complex. A simple machine won’t know what to do and a person’s survival would be at risk when deployed. The solution: an AI-powered machine made of hardy materials capable of complex operation.

What are AI’s challenges?

  • Expensive. Between the cost of installation, operation, repair, and maintenance, AI technology isn’t exactly the cheapest solution to implement. Those well-funded industries will do fine. The smaller businesses, however, will have to wait for the prices to go significantly down.
  • Machine dependency. AI is making our lives easier and thus, our dependency on machine assistance is ever-growing. This will have repercussions over time. Whether it’s our intelligence, our physical fitness, or mental capacity, AI is sure to whittle some of them away.
  • Restricted. Sure AI applications are intelligent but they are still bound by the parameters within their codes. They don’t have the imagination or creativity of a person and they don’t grow with experience. They’re capable of storing loads of data and can process at light speed. However, in face of something new, they’re most likely to commit error or breakdown.
  • Job loss. There is no shortage of repetitive and monotonous jobs out there which could be automated. This means displacement for millions of people. If not for the high implementation cost, perhaps a lot of workers today are out of job.

2. Internet of Things

Internet of Things is growing at a ridiculous rate, as evident in this IoT Statistics compilation. As of 2019, there are about 26 billion IoT devices installed around the world. According to experts, that number will grow to a staggering 75.44 billion. This is the very definition of trend and there’s no stopping it.

IoT is found practically anywhere in the modern world. By 2020 each person has an average of 4 connected devices and 2030, we’d have 15 devices each. Thus, there’s no surprise that IoT is the rage among huge businesses. In fact, according to some studies, it has a market value of about $150 billion.

So far, the IoT devices are mostly seen in smart homes in the form of connected lights, smart fridge, etc. Wearable technologies such as smart glass and activity tracker are also very popular application of IoT technology. Furthermore, traffic and waste management, urban safety monitoring, and water distribution are some of IoT technologies present in smart cities.

Security is the primary concern regarding this field. IoT users are will have to face the threat of hacks, data breach, information leakage, and so on. The problem is that most IoT devices aren’t equipped with security features right out of the box. So to make this technology continually enjoyable, extra steps toward security must be taken.

Top 5 Application of IoT Devices

Smart Home

Wearables

Smart City

Smart Grid

Industrial Internet

Source: IoT Analytics 2018

Designed by

Who are the top IoT companies?

  • VironIT
  • R-Style Lab
  • ScienceSoft
  • HQSoftware
  • Magneto IT Solutions
  • TP-Link
  • Eastern Peak

3. Cybersecurity

Cybersecurity is old news that never went out of trend, nor will it do. New types of cyber threats are being discovered every day. The only things standing between our data and malicious activities are IT security software, antivirus, and other cybersecurity defenses. So long as the internet is used, threats are imminent and thus the cybersecurity industry will always continue to thrive.

Big businesses might be the one bracing the most for cyber-attacks but in reality, smaller businesses are at greater risk. That’s because according to Verizon, 61% of data breaches are targeted towards companies with less than a thousand employees. However, the threat doesn’t stop with businesses since practically anyone is exposed to them. Cyber threats come in so many forms and the most common among them is email phishing. So to summarize, everyone who connects to a network is at risk.

While cybersecurity has been a work in progress for decades now, it can still improve a lot. For instance, the average time it takes for a data breach to be detected is half a year. That’s a really long window and it could certainly benefit people and businesses if it gets considerably shorter.

Today new technological advancements for cybersecurity are emerging. For instance, technologies to fight deepfakes and open source vulnerabilities are being developed. There are also advancements in blockchain security, homomorphic encryption, and zero-knowledge proofs.

annual cost of cyber damage

What are the latest cybersecurity threats?

  • Phishing
  • Ransomware
  • Cryptojacking
  • Cyber-Physical Attacks
  • State-Sponsored Attacks
  • IoT Attacks

4. Alternatives to Cloud Computing

Cloud computing was first perceived as a major breakthrough and became the trend. Until it was implemented and it became the norm. While the cloud still means someone else’s computer, it does entail a plethora of benefits. This includes reliability, enhanced disaster recovery, cost reduction, and collaboration to name a few. In fact, cloud adoption is a must for small businesses.

However, there are new technologies today in development that might just overthrow the reign of cloud computing. Some address the drawbacks of cloud computing like ongoing cost, security issues, and reliance on the internet. While some simply provide a better way of doing things.

The first in our list of alternatives is edge computing. It’s the practice of bringing data and computation closer to the location where it’s needed. This helps save data bandwidth, increase the response time and is most useful for IoT devices. Instead of sending data all the way to clouds or data centers, it is processed closer. This helps analyze data in almost real-time.

The next one is fog computing. It’s built to bypass the issue with cloud computing not able to process huge amount of data in time. With fog computing, every function – storage, analysis, processing – are moved to the edge of the network. This is great for managing data flood in a networked environment.

Another one is named Project Solid which is an initiative brought by the inventor of the web itself, Tim Berners-Lee. This method provides users with complete control over their data by placing them into a container. The services would then allow you to access the data when signing in. But, they lose it when the user signs out. In essence, it means that you bring your data with you.

Biggest Public Cloud Challenges

Security

%

Governance & Compliance

%

Lack of Cloud Experience

%

Privacy

%

Vendor lock-in

%

Source: Forbes 2018

Designed by

Other Cloud Computing alternatives:

  • Mesh Networks. A service initiative that aims to provide everyone with the needed bandwidth to process their data at tremendous speed.
  • Resilio. A cloud storage service which does not require servers. It follows the principle of torrents where files are divided and shared in tiny pieces among each member.
  • LBRY. Combines the blockchain technology with the file-sharing property similar to torrents. This is a great way of distributing videos without the complex RDM schemes.

5. 5G Network

5G networks are the next big thing in mobile internet connectivity. After almost a decade of development, it has finally become a reality in some areas. It offers an unprecedented transmission speed that far surpasses its predecessor, 4G. And since we’re talking gigabytes per second transfer rate, 5G is actually faster than virtually any home broadband available.

Although it’s not just a simple, though tremendous, upgrade in speed that 5G brings. It’s also going to make leaps and bounds to the technology of the smart devices. What were once only done through computers can now be done in smart devices as well. Furthermore, IoT gadgets will be able to interconnect more smoothly. Also, things that require complex operation are now achievable. This includes drones, autonomous cars, and smart cities.

The biggest drawback of 5G network is it’s still far from complete. It’s also available only in certain countries and areas as of now. Moreover, the increase in bandwidth translates into less coverage. That’s because a lot of cells must be built in order to support the network’s ridiculous speed. More signal droppings are to be expected as of now too. There are issues about its capability to penetrate walls and other materials as well.

But the most concerning of them all is that some claim that the network produces radiofrequency radiation. It’s a big health hazard since it can damage cause cancer, premature aging, DNA damages, disruption of cell metabolism, etc. This is due to the power of the cellular towers that will empower 5G networks. The more powerful the cell phone towers are, the more chance it will emit radiation to the environment.

5g networks

What does 5g mean for the future?

  • By 2024, 5G networks will cover 40% of the globe. This is equal to 25% of worldwide mobile traffic data.
  • An average 5G network will support millions of devices per square miles. That’s a big improvement from thousands of devices per square miles that 4G networks support.
  • By 2035, 5G will make $12.3 trillion global economic output. It’ll also support 22 million jobs around the world.

6. Virtual Reality

Virtual Reality (VR) immerses the user into an environment. By stimulating their hearing and vision, it makes them feel as if they are experiencing the simulated environment firsthand. The most popular application of Virtual Reality is on gaming, with PlayStation VR and Facebook’s Oculus leading the market.

Aside from games, VR is also used in other forms of entertainment. For instance, some theme parks provide more immersed experience to their patrons through the VR. Some applications aren’t for entertainment alone; it can also be used for education – edutainment. Examples of this include virtual museums, galleries, discovery centers, and theaters.

Another widespread application of Virtual Reality is training and simulation. This is done in various fields such as in medicine for surgery and in aviation for flight simulation. There are VR software, such as VirtualShip, that are used to train the US Army, Coast Guard, and Navy.

While there are already good equipment and software for VR, the field hasn’t taken off just yet. While it’s true that it has gained a lot of traction, there are still some issues limiting the immersion experience. For one, most of the good hardware is expensive. Also, at this point, you’re either tethered into a big clunky device or are using lite stand-alone headsets. The former is expensive and limits movement while the latter has lower graphical performance.

Predicted market size of VR software by 2025

Video games

Live events

Video entertainment

Source: Statista 2016

Designed by

What are some practical applications of virtual reality?

  • PTSD treatment
  • Pain management
  • Recruitment and training
  • Paraplegics therapy
  • Workplace collaboration

7. Augmented Reality

Many confuse Augmented Reality (AR) with Virtual Reality. They do have similarities but they are, at their core, different. Augmented Reality enhances a real-life view with digital images. This is commonly an app that works with camera lenses. Usually, the overlay images blend into reality in a way that users can easily tell them apart. Some of the most popular AR software are Snapchat and the game Pokémon Go.

Many consumers welcome AR because of its numerous real-world application. For example, IKEA has an app that will let you see how a furniture would look like in your room. You can do this by first scanning or taking a picture of your place and then add the furniture’s image. This way, without having to actually buy and assemble the furniture, you’d see if it fits perfectly with the room.

The AR technology has also been of great help to different sectors. In enhanced navigation systems, AR is used to show route over a real-time view of the road. Some neurosurgeons use Augmented Reality to project a 3D image of a brain to aid them in surgery. In the military, pilots wear AR helmets to see vital statuses such as their speed and altitude.

As with every technology, AR has some drawbacks associated with it. Perhaps the most popular among them is the blurring of the line between the real and digital world. This became controversial when accidents happened to many people playing Pokémon Go. There are certain privacy concerns as well since AR is based on data collection and redistribution. This means that there’s potential for information leakage and legal issues.

AR users by 2020

Expected revenue of Augmented Reality by 2025 (Lumus Vision)

  • Video games – $11.6 billion
  • Healthcare – $5.1 billion
  • Engineering – $4.7 billion
  • Live Events – $4.1 billion
  • Video Entertainment – $3.2 billion
  • Real Estate – $2.6 billion
  • Retail – $1.6 billion
  • Military – $1.4 billion
  • Education – $7 million

8. Chatbot

Due to the growth of machine learning, chatbots have become extremely popular for small businesses and huge enterprises alike. Combine that with natural language processing (NLP) and we got ourselves a more responsive, more intelligent, and more human conversational agent. Typically, chatbots are used in customer service. It’s also one of the most popular SMB technological trends of today.

A chatbot is a program whose main function is to simulate conversation with humans. By that definition alone, we could infer that this technology has a certain degree of application. It’s no longer just a novelty and hyped technology but instead, it has reached the stage of maturity. That, however, does not mean that it has no room for growth because it does, a big one even.

Chatbots today are more AI-driven and are becoming human-like. They’re now more suited to chat with customers as a representative of the company. Smart speakers, which delivers voice experience, are also becoming a norm.  Chatbots are being steadily adopted by more businesses too. According to IBM, there are 265 billion customer requests recorded that businesses spent $1.3 trillion to deal with. A chatbot is a big help in cutting some of those expenditures.

One of the biggest challenges in chatbot development is that it can only be as advanced as NLP is. This conversational software will always be dependent on their part which parses human language. Also, when used as customer service tool, clients might become frustrated when the answers get repetitive or limiting. To top it off, chatbots with more complex and robust functionalities are quite expensive.

Acceptance of AI Chatbots by Service

Online Retail

Healthcare

Telecommunications

Banking

Financial Advice

Insurance

Car Dealership

Government

Source: Chatbots Magazine 2017

Designed by

Chatbot insights for the future

  • Chatbots will handle 85% of customer interactions
  • 50% of big companies will be spending more on chatbots than mobile applications
  • Companies will save $8 billion from using chatbot conversations
  • The overall global market value of chatbot by 2024 is $1.3 billion

9. Blockchain

Blockchain, in its most bare form, is a data which you can only add to. It’s like creating a link of blocks to form a chain, hence the name. The fact that the previous blocks cannot be altered is the central point of its security. Another main feature of blockchain is that no single entity governs it. The technology is usually related to cryptocurrency such as Bitcoin but it’s more than that.

When it was first introduced, blockchain has attracted a lot of snake-oil salesmen. They’re making use of get-rich-quick schemes to rake money out of less informed crowd. It got so bad that regulators had to enter the scene. Scammers aside, however, many businesses legitimately believe in the potential of blockchain as the next big breakthrough.

Blockchain is also becoming big in the field of Internet of Things. It turns out that the technology is a good solution for providing security to IoT devices. It’s also making noises in the financial sector, especially the big ones since it’s a potential disruptor to their business. In this light, it’s more likely that the upstarts will be the ones to offer services built around blockchain.

The emergence of this technology, however, does not signal the end of cryptocurrencies. In fact, Bitcoin is still a big thing and there are other cryptocurrencies to watch out for. This includes Tether, Ripple, and Ethereum who are all making their way to improve upon Bitcoin.

What is the significance of Blockchain?

  • Provides good defense against hackers
  • Built around security and transparency that prevents tampering of information
  • Eliminates the need for middleman for a transaction
  • Provides privacy
  • Innovative businesses can take advantage of it

IT Landscape continually changes

Latest technology trends in 2019 have picked up the momentum from the last few years of technological development. Artificial intelligence is continually improving and it powers more applications and machines each day. IoT devices are becoming more and more widespread. Cybersecurity is a steadily busy field.

There are also game-changing technological trends for businesses. IT trends in business will reshape the future of commerce and industries. Automation and digitization will make a lot of changes in customer experience. Many jobs will become obsolete but a lot will also open up.

There are technologies that aren’t on their stable and mature stage yet. But still, businessmen and analysts view them as a minefield of potential. This includes 5G networks, blockchain, virtual reality, etc. A conclusion we could draw is that there is simply no stopping IT trends train.

By Louie Andre

B2B & SaaS market analyst and senior writer for FinancesOnline. He is most interested in project management solutions, believing all businesses are a work in progress. No stranger to small business hiccups and drama, having been involved in a few internet startups. Prior to his for-profit ventures, he has had managed corporate communications for a Kansas City-based Children International unit.

Leave a comment!

Add your comment below.

Be nice. Keep it clean. Stay on topic. No spam.

TOP

Why is FinancesOnline free? Why is FinancesOnline free?

FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions.