John Chambers, CEO at JC2 Ventures and the former Executive Chairman of Cisco Systems once said that – “At least 40% of all businesses will die in the next 10 years…If they don’t figure out how to change their entire company to accommodate new technologies.’’
Rightly said, transformation, evolution, and revolution are the key to success. And with the advent of 2024, the adventure begins! Quite a revolution we would say the last decade was! The transition to digitization has been impactful, revolutionary and thriving. While 2022 surely has expedited the crusade of businesses from manual to digital, we cannot assume it would stop at this.
The power of disruption has been realized by enterprises as well as app development companies and they are eager to try, experiment, learn, and share more.
In the year 2024, we are talking numbers. Millions of numbers actually as our scope has increased a million times. The increase in dependency of usage of tech-based applications like smartphones, devices, latest trends, social networks; it’s all creating a web of opportunities that no one wants to squander.
We have already discovered service apps like Airbnb, Uber; personal assistants like Alexa, Siri, prudent apps like bank apps, shopping apps and the list continues. 2019 has created the base for 2020 to spawn more likelihoods for users with new trends ultimately. Could you imagine the idea, the innovation we are talking about? If not, read through the blog to get a glimpse of the feasibility of 2020 tech trends.
Gartner the key technology trends of the future would circle two major areas, i.e. human-centric (Sustainability, Hyper automation, multi-experience, democratization, human augmentation, transparency & traceability) and smart spaces (Adaptive AI, edge computing, distributed cloud, autonomous things, blockchain, and AI Security).
As technology evolves and disruption bound businesses to introduce applications and solutions embedded with tech trends that will continue to shape the progress in the coming time, we are excited to share the plethora of potentials that 2020 brings in.
1. 5G
Let’s not underestimate the power and possibilities driven by the 5G trend. Businesses and end-users have already experienced what the growing trend could do and how it could impact the world in both good and bad ways. The power of connectivity through high-speed, low-latency wireless service is impeccable, and the world demands more.
The market research manager of TEKsystems, Mr. Jason Hayman says – “Organizations are advancing their 5G strategies even before widespread network availability.”
5G is one of the technology trends that improves the latency in processes where customers, enterprises, businesses, end-users will experience real-time intelligent decision making or feedback as the network speed fastens.
2. Hyper Automation
Experts outline hyper-automation as a key technology trend of the future. This includes tech-trends like artificial intelligence (AI), Robotics Process Automation (RPA), machine learning (ML), to enhance automated processes and augment human capabilities.
Hyper-automation introduces a range of automated tools that expand human capabilities. It’s different from regular automation as it is a collaborated effort of technologically advanced tools and combining them to create a new way to work.
With little to no human intervention, the hyper-automation trend could develop a workplace that is informed, progressive, agile, and able to use data and insights for quick, accurate, and intelligent decision-making easily.
3. Edge Computing
As per MarketsandMarket ,growing at a CAGR of 17.8%, the edge computing market is expected to reach 101.3 billion by 2027. Clearly, edge computing is a key future technology trend.
The growing need for on-demand compute and real-time app engagements will play a role in driving the growth of edge computing in the year 2024. Edge computing, one of many tech trends that propels the idea of improving the revenue by boosting overall business production, monetizing data, and helping in selling services as products.
IoT enablement is one area that will be significantly benefited by edge computing. When it comes to Web 3.0, edge computing provides for distributed storage networks.
By eliminating the need to transport enormous data volumes across the network of smart devices, edge computing can enable businesses to enhance user experience. The spread of edge AI-enabled devices will thus fuel the growth of the edge computing market.
Fueled by the propagation of connected devices, the benefits that edge computing delivers are:
- Elasticity to handle existing and forthcoming artificial intelligence demands
- Avoidance of network latency
- Faster Response
- Conduct compound processing that cloud can’t support
4. Democratization of Technology
With expansion and disruption of digitization throughout the globe, the pressure of being digitally advanced even at the end-user level has become critical for businesses. The expensive training to educate and train employees about the latest technology trends such as Machine Learning (ML), Artificial Intelligence (AI), Application Development, etc. has pushed businesses to think of a solution that is compact, reliable, and approachable for end-users.
It is designed to bring a new generation of people/developers who would be self-sufficient to face challenges in the business and act accordingly. By 2024, Gartner is assuming acceleration in four key aspects of the democratization trends, which are:
- Democratization of data and analytics tools
- Democratization of development
- Democratization of design
- Democratization of knowledge
5. AI Security
Artificial Intelligence has managed to refurbish end-user’s way of living by introducing them with solutions that range from voice assistants to self-driven cars and more. While this is enticing and thrilling at the same time, it is quite hazardous as well. AI opens up the path of security threats easily. There is a lot of information that AI-based apps use to function and become an easy threat.
Capgemini research predicts that almost 51% of enterprises solely rely on AI Security measures for threat detection, forecasting, and retort ideas.
Source: Capgemini
It’s important to analyze the threats and manage the security of AI applications. The year 2024 brings relief as future AI security will focus on 3 critical perspectives:
- Enable protection of AI-powered systems by securing AI training data, pipelines, and machine learning models
- Introduce enhanced security defense, utilize machine learning to understand behavior & patterns, and automating cybersecurity processes
- Forecasting the attacks and plan defending solutions against them
Also Read: How system architecture serves as a blueprint for successful startups?
Conclusion
We can anticipate more tech trends that will disrupt the businesses and prepare them for more significant opportunities and potential challenges. Getting technologically upgraded is the best recourse to embracing these trends. Since the process is fraught with multiple complexities, seeking consultation from an expert can simplify your journey.
So, if you are developing a new-age application, it’s advisable that you join hands with an experienced software development company that keeps pace with the technological advancements.
2024 anticipates more tech trends that will disrupt the business and prepare it for more significant opportunities and potential challenges.
The idea of adopting the latest technology trend seems the only way to meet the user demands and ensure business success
