We live in a world of rapid technological advancements. By the time we get familiar with the technological innovations that were achieved in 2019, Cognisun Inc. has started to welcome the latest technologies in 2020. Even though the World is going through the Pandemic of CoVid19 but Technology never stops growing.
This unprecedented growth of technology has enabled businesses to revolutionize how they function today. Now, it is crucial for business owners to stay updated about tech trends in order to capitalize on the transformation quickly and have their business running even in the comfort of Home. A few technological advancements that are highly anticipated in the ongoing year are listed below:
Artificial Intelligence (AI)
The adoption of AI-enabled solutions for businesses has been prevalent in the last couple of years. Be it start-ups or established businesses, tech decision-makers are effectively using AI-based tools to drive value. Among the latest technologies in 2020, AI and Machine Learning (ML) are expected to play key roles in improving business intelligence.
As per the International Data Corporation, the worldwide spending on cognitive and AI-based systems will reach $57.6 billion by 2021. The trend is evident and more enterprises are adopting AI-based programming languages for building software solutions. In fact, millions of codes are written per day using AI-based latest technologies in Java, a widely used language by large organizations.
Internet of Things (IoT)
In a world with 26 billion connected devices, organizations are expected to get more serious about exploring the potential possibilities of IoT in improving businesses. The Industrial Internet of Things (IoT) has already been put to action to enhance the manufacturing and industrial processes of organizations. Although IoT is one of the latest technologies in embedded systems at this time, it is still at a nascent stage. Presently, the many benefits of the Internet of Things include improved decision making, predictive analysis, better efficiency, reduced operational costs, etc. It is certain that IoT is a technology capable of delivering digital transformation in organizations.
Blockchain is a must-have entry in any list of the latest technologies in 2020 for it is expected to touch every industry this year. A critically acclaimed technology, Blockchain, is making inroads into business processes quickly across the world. It refers to an anonymous, shared, and irreversible digital ledger that keeps a chronicle of transactions in real-time using a secured data structure. It is a technology that is expected to have a business value of $3 trillion by 2030.
Blockchain has numerous potential use cases such as identity management, auditing, financial transactions, stock trading, information sharing, and more across various industries. Consequently, blockchain-based software development and software testing are advancing at a staggering rate today. Hence, we can expect more examples of the successful implementation of blockchain technology in 2020.
An Exciting Future!
Adopting technological advancements is no longer an option but a mandate for organizations. In addition, the latest technologies in embedded systems have given new dimensions for conducting business. By staying updated and following technology predictions, organizations can adapt to changing trends and gain an early-mover advantage in the market. AI, IoT, and Blockchain are the three major trends that are expected to have a great impact on enterprises in 2020. The roadmap for the future of businesses seems to be full of promise.