Looking at the pace at which technology is evolving, no one can predict what awaits us in the next ten years. Especially after the COVID-19 episode, technology has taken a new leap of transformation in every business sector. The trend of digitization and automation is overwhelming.
It means that businesses that are slow in keeping up with the latest technologies have a lot at stake while heading forward. Furthermore, the unpredictability in the technological realm has made it much more difficult for innovators and entrepreneurs to determine the crux of future possibilities.
In this article, we will discuss some of the most promising technologies that would alter the course of the world.
1 – 5G Will Go Mainstream
All the buzz surrounding 5G in the past few years will become a reality in most countries from 2021. The 5G technology is ready to open a new horizon for fast and flawless communication across the globe. This phenomenon will not only boost the productivity of businesses but also bring people closer than ever before.
With 5G, information will flow at a speed that people have never experienced before. However, it would also mean that the challenges for organizations to respond to their customer’s demands and preferences will become more severe. Furthermore, the data flow will skyrocket, which implies organizations would require apt professionals such as MSIST candidates who could process big data for optimum utility.
2 – Customer Data Platforms (CDP)
The use of Customer Data Platforms across several industries has become highly significant in the past few years. The need to organize fragmented data from different resources and utilize it for the best utility of the organization has become essential.
According to a recent study, more than $2.5 million in revenues in the US goes wasted due to insufficient data. Therefore, it became highly essential for organizations to address this lacking. But thanks to the latest CDP technology, the process of data collection and bringing consistency into it has become much more swift and reliable. So one can say, Customer Data Platforms are the next big thing in the business world.
3 – Internet of Behaviors (IoB)
After the Internet of Things (IoT), the Internet of Behaviors (IoT) is all set to launch into the world markets. With enhanced IoB, companies and organizations will now have the ability to monitor users’ behavior more closely. Hence, the trends of marketing will change drastically, becoming more personalized and customer-oriented. IoB will use other technologies such as geo-tracking, big data, and others to garner results with unmatched accuracy.
As Gartner predicts, more than 50 percent of the world’s population will come under IoB by 2025.
4 – Cybersecurity Mesh
The rise in remote working trends has put the security of organizational data at significant risk. However, Cybersecurity Mesh will now become an apt solution for the problem. It allows organizations to access remote computers and place them inside a cybersecurity wall.
It means that now companies will trust their employees more freely and ensure the best cost-effective security measures.
5 – Total Experience
Just like Total Quality in organizational framework, technology has now introduced a new standard of work efficiency, Total Experience. The protocols of TX employ the asynchronous management of customer experience, employee experience, and user experience.
It aims to implement tech-driven strategies to improve the three principal interactions of organizations.
6 – Intelligent Compostable Business
The primary aspect of an intelligent compostable business is to empower organizations in their decision-making process through highly interactive real-time data. It will also serve as the foundation for new business models looking to embed automation from the early days of their operations. It will also help organizations inefficient logistics and supply chain management by designing a more autonomous working environment for employees. Hence, it will bring more stability and flexibility in the operating environments.
7 – Hybrid Cloud Models
In 2021, most medium-large scale enterprises are ready to move towards hybrid clouds. The main reason for this is the need to manage the workflow with more convenience and flexibility. With hybrid cloud models, businesses can now balance their cloud infrastructure between private and public cloud services.
It offers more scalability and interconnectivity in off-premises data centers. It means users/sub-users can create their private cloud in a public cloud infrastructure. Tech giants such as Google Cloud, Oracle, IBM, Amazon Web, and others are migrating rapidly towards hybrid cloud models for providing enhanced privacy and security compliance.
8 – Smart Work from Home Technologies
Smart work from home technologies such as Zoom, Google Meet, Microsoft Teams, etc., is set to bring ultimate revolution to the remote working trend globally. The amount of flexibility, utility, and cost-saving remote work offers both employees and employers work from home could rightly become a future norm.
It means that current remote working technologies will up their game and introduce professional features, such as task tracking, team management, work segmentation, and others.
9 – Artificial Intelligence
The AI industry has been thriving since the last decade. It has helped businesses gain a competitive edge in their respective markets by improving business operations. Besides, it has come to a spotlight during the pandemic, as businesses chose AI, machine learning, and data management systems to maintain productivity during and post-pandemic.
AI also plays a vital role in helping audiences discover their desired products and services. For example, a considerable number of studies indicate the position of Artificial Intelligence in suggesting to consumers what to get during their Amazon visits is immense.
10 – Hyper Automation
The process of automation is all set to advance to robotic automation in major business sectors. On the one hand, where hyper-automation could do wonders for business revenues, it could take the global population to a new crisis, unemployment. But for now, the magnitude of hyper-automation is set to grow exponentially as retail giant Amazon is sweeping through the US markets with extensive robotic automation, eliminating much of human labor.
Conclusion:
After the global pandemic, a new chapter has started in the technological revolution. Significant reforms in doing business are expected to occur in every segment because of the emerging technologies.
