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5 Technologies Which Will Change the Face of Business in 2020

By Rohan A T

Technology has always been an integral part of modern-day business. The advancements in technology have helped not only the business fraternity but also the way we look at ourselves. A significant perk of living in this fast-moving competitive world is that we are regularly getting updated with the latest technological advancements and innovations. Each and every aspect of businesses and its operations have been significantly improved and polished owing to the various technological findings and breakthroughs. We have evolved a lot during the course of the last couple of decades and technology has been the major catalyst behind this.

In 2020, we are not only entering a new year but we are also stepping into a new decade. For industrialists and inventors, this gives them a chance to start fresh. With nothing stopping this technology race, it is evident that businesses and individuals are in for a treat in the forms of a multitude of technological inventions and innovations. When looking from an organizational perspective, this brings upon a lot of advantages along with some disadvantages. The biggest drawback of the lot is the fact that, technological innovations are happening at a fast pace that majority of the businesses are finding it hard to adapt and cope up with these technologies quickly. Another noticeable disadvantage is that with many innovations happening around them simultaneously, businesses are finding it hard to differentiate the good ones from the bad ones. With the start of the new decade, businesses both big and small are gearing up for major changes and now let’s look at 5 of the most important technologies or technology trends that will have a massive impact on the business sector in 2020.

1. The Introduction of 5G Networking: Let’s start of the list with one of the most awaited technology trends of 2020. For those who follow technology closely, this might not come up as a surprise but as a matter of fact, 5G networking will have a massive impact on the way users utilize the internet. When I say user, it will also include companies of all industry strata too. With the wide-scale implementation of 5G, the internet speed and accessibility will skyrocket leading to seamless internet trafficking and browsing. Some cell phone companies have already come up with a couple of models running on 5G, but it will only be in 2020 that we can actually witness the true capabilities of this updated network.

2. The True Potential of Augmented Reality (AR): Even though AR is not completely a new concept, businesses have not yet completely identified and utilized the true potential of the technology. In 2020, things are going to change and businesses regardless of their size will come to know the real scope and opportunities associated with AR. With nearly everyone using a smart-phone now, companies can really push the boundaries of AR and make the users more attracted and fully immersed in their products and services.

3. The Change in the Perception of Autonomous Devices: Many of us quickly associate autonomous devices with self-driving cars and the possible mayhem that it may cause when implemented on production vehicles. There is more to autonomous devices than what meets the eye and during the course of this year, many reputed companies are planning to go ahead with their autonomous device projects. The scope and potential of implementing this in your business are mind shattering. When this technology is employed in let’s say your trucks and delivery vehicles the owners can identify the opportunity that is just waiting there to be picked up.

4. Increasing Demand for Edge Computing: Let’s start with what is edge computing. To put it simply edge computing is basically cloud computing but the only difference being that Edge computing is happening at the source of data. Edge computing will be happening at a faster pace with reduced latency when compared with conventional cloud computing. This translates to businesses completing more tasks within a shorter period of time which results in increased productivity.  

5. The Future Prospective of AI and ML: One can argue that AI and ML are not new trends but the thing is that the true potential of both these trends hasn’t been utilized and there are many more things that can be achieved through AI and ML. With still a small group believing in the adverse effects of AI, many companies and tech giants have already started implementing AI features to their clouds to make their AI services more customer-oriented and personalized.

Even though the list is not going to stop here, we hope that we have given you a small peek through of what is going to happen in the future when it comes to technologies that will have a positive impact on the operations of a business.

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