With the changing market dynamics and the race to be at par with the market, business have witnessed various technological improvements over the years. The advent of new technologies such as AI, 5G connections, robotics, machine learning, etc, the chances to grow are endless. A research was conducted by Gartner recently to understand the upcoming trends or challenges that would affect the businesses.
A glimpse of the research has been presented below to provide us an indication of what lies ahead in the upcoming year.
This concept refers to the combination of machine learning and Artificial Intelligence to deliver outcome which was previously conducted manually. Hyper-automation intends to increase productivity, reduce effort, time and cost. Furthermore, it embraces the zero-error delivery concept.
User experience is an important aspect of any business. Technology plays a crucial role in enhancing the customer experience and moving out from one to many experiences to one-to-one and many-to-one experiences. The importance of a delightful customer experience seems to be gain further popularity as people are becoming more inclined towards such experiences.
In 2020, customers will seek experiences from businesses rather than products or tools.
The Importance of Data Transparency
Data has become a crucial asset for all the companies and consumers are becoming more and more informed every day. Companies are collecting data to enhance the customer’s experience; however, it also involves the risk of invading customer’s privacy. With the help of machine learning and AI, companies would be able to have transparency across their business and have informed satisfied customers across the board.
Distributed cloud service
Distributed cloud helps interconnect applications and avoid the collection of data at a single storage space. Instead, all the data is contained in multiple, secure and easily accessible locations. This set up helps deal with the latency and data sovereignty.
A blockchain is a constantly updated large database, each one of which is called blocks that are linked using cryptography. Each block contains all the essential information of a data entry such as a CHF entry, a timestamp, and transaction data. By design, a blockchain is resistant to modification of the data and allows for the tracking of every data entered.
In 2020, blockchain will be significant in transforming businesses as well as economy. It is predicted that by 2023, blockchain would be fully scalable.
With the advent of these technologies and data management requirements, businesses have become vulnerable and insecure. AI security will play a key role in managing and strengthening businesses infrastructure.[actionbox wide=”false” title=”Want to discuss more?” url=”https://lagomgroup.co.nz/contact-us/” buttontext=”Get in Touch!” ]
The key thing to note is that 2020 would be the year where AI, Machine learning and automation would play a crucial role in shaping the industry. Keeping in mind that ANZ market will be highly affected by the global trends and modern technologies. It is important to be upskilled and be updated with the latest trends and technologies to sustain in this market.