The constantly evolving digital world is known for heavily influencing customer experiences, online interactions, along with shaping consumer expectations. With the COVID-19 outbreak, the pre-determined definitions of business and experiences have been widely changed. The expectations of physical spaces and stores have been completely re-defined, with new innovative methods of communicating. Digital transformation has been heavily catalyzed through the systems set up during the pandemic.
The impact of the emerging digital trends is likely to improve the day to day operations. When it comes to reducing a human to human contact the latest technology trends have increased productivity while eliminating hindrances amidst the pandemic. The exponential pace at which IT trends are developing indicate a significant breakthrough in the field of computer science which is bound to change and impact the world in profound ways. The pandemic has only emphasized on the importance of data security in the time of crisis. Smarter algorithms only hint at a better and a more advanced future for the humanity.
Here are 5 future technology trends
The benefits of AI are vast, from being able to analyze large amounts of data, learning patterns, computer systems, predicting behaviour and recognition- AI is a groundbreaking phenomena. According to a survey conducted, it is estimated that by 2030 all AI products will contribute more than $15.7 trillion to the global economy. Artificial Intelligence clubs various innovations under the label of AI, these variants include intelligent data processing and face and speech recognition. These technologies are commonly seen and will only be accelerated in terms of its use post COVID-19.
It’s a known fact that consumer behaviors won’t go back to the previously defined processes and norms. Artificial intelligence will be a highly important adaptive tool, providing meaning and value to new processes. Especially on the foregrounds of the retail industry, advanced data analytics, machine learning, and processes will decode and analyze the newer purchasing patterns, thus catering a unique bespoke experience to consumers worldwide. The capabilities of AI such as predicting human behavior and patterns will be extremely valuable to companies as it will enable tools to adapt to changed systems. Hardly predictable behaviors can now be easily forecasted. Chatbots can be known to accelerate the pace between the company and the consumer, beneficial especially due to the lower amount of team members.
The demand for cloud computing has only increased due to the pandemic. According to a recent survey, Microsoft reports a 775% spike in cloud services demand. Cloud technology is surely to receive an increase in implementation in apps. With more work from home, learn from home and various other remote working opportunities, call in for a cloud-based video conferencing and teaching. Due to this many cloud service vendors have enhanced their features and functions while enabling resources to meet this huge demand. The world is not going back to normal anytime soon, thus businesses are likely to use this technology. Cloud computing is here to stay as one of the technology trends in 2020.
The use of AR/VR has truly increased due to the pandemic. With more people staying at home, the urge to keep connected is on an all-time high. Organizations use this time to benefit from VR platforms, in order to sustain day to day activities such as training employees, collaborating, educating, training and connecting online. Businesses and consumer’s experiences have no limits due to the broad scope of this technology. Post the pandemic, we are likely to see more interactive virtual conferences and innovative methods of interactions throughout the globe.
This is one of the most crucial aspects of an organization, especially when the processes are formed on data-driven technologies. With the emergence of thousands of people working from home during COVID19, an extensive amount of private data could become totally vulnerable if not protected rightly. There was also a surge in amounts of phishing attacks, new threats to security, new viruses, and loss of data. Fake domains and cybercriminal activity has been on a rise throughout the pandemic. In addition, there is an increase in hacking attacks on various institutions. Thus, it is imperative all precautions are made to keep an uptight cybersecurity.
Block chain is a method of storing and sharing information across a chain of networks through a virtual space. It’s a type of distributed technology where data is stored in many places. This system makes it a great tamper proof system, along with high security and transparency. The technology was developed to help manage a chain of actions and consequential transactions, Block chain makes every single transaction throughout the chain available to all. Block chain platforms improve the transparency of businesses while implementing a seamless integration of networks. The COVID-19 crisis has displayed a lack of connectivity and an inadequate data exchange into our global supply chains. This crisis can show us all the importance of building a seamless network.
Furthermore block chain technology can help with:
– Tracking the outbreak of various diseases
– Tracking the donations and support needed
– Enhanced crisis management
– Proper medical chains
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