There is an increasing number of ways to be creative with all the new technology innovations available today. How might you reevaluate your offering strategies and corporate innovation plans for 2020 and beyond?
Here are some considerations as you plan for the coming year.
Industries have always been in search of capital-intensive production measures which are able to reduce operating costs and provide a larger drive towards profit.
In the lead to 2020, many autonomous technological introductions are set to be presented coming from a variety of industries. Perhaps the most obvious example is found in the self-driving car. By leveraging on the use of GPS technology and computing capabilities, the transportation industry has found a new way to save costs on labor and revolutionize business models.
Delivery systems have also become increasingly autonomous, with robotics replacing human couriering services. Companies that base their sales upon an e-commerce system may benefit the most from this new wave of tech innovation.
Information Technology continues to be a sector that surprises with the pace at which it is advancing. Augmented analytics – the combination of artificial intelligence and natural language processing – allows for automated data insight.
This may seem like a trivial matter, but the presentation of large amounts of data in a manner which is easily read may be the deciding factor in creating the next big product.
Moreover, the implications for such innovative business analytics are important in the overall health of the economy. Product development and marketing are sure to be the fore of the commercial aspects affected by augmented analytics.
Artificial intelligence, the darling of the current IT industry, is set to change the next few decades in ways not many would have predicted.
According to the trusted Gartner report, more than 40% of new development projects will be assisted in some way by artificial intelligence. Whether this translates into entire processes governed by AI or a small aid is yet to be seen.
“We see a substantial acceleration in AI adoption this year,” said Jim Hare, research vice president at Gartner. “The rising number of AI projects means that organizations may need to reorganize internally to make sure that AI projects are properly staffed and funded. It is a best practice to establish an AI Center of Excellence to distribute skills, obtain funding, set priorities and share best practices in the best possible way.” Gartner
Manufacturing is a diverse industry that often requires the most meticulous calibrations in order to succeed at product creation. As such, any product that is subject to cheap and effective prior testing is greeted with welcoming hands.
Thus, digital twins – digital representations of physical material – is set to aid commercial production with increasing popularity in 2019. Having the correct technology may just prove to be the difference between a USP that corners the market and a product that fails miserably when compared to competitive alternatives.
One of the biggest developments in the world of technology over the last few years has been that of digital twins. A digital twin is a virtual replica of a physical system, process or product. The technology essentially provides a real-time look at how a physical asset is performing.
More Efficient Edge Devices
Edge devices are machines which take a local network and connect it to a wider network. For example, a router connects a small number of devices to the internet via an internet service provider.
Due to the increasing competence of computing power, AI and analytics, edge devices are about to unlock their full potential in the lead up to 2020. Most have an idea of how the hardware may be used, but the future looks exciting. This makes staying current with the latest releases instrumental in keeping with technological economies of scale.
Virtual reality has been on the lips of many for quite a while. However, it has mainly been used in the gaming industry as an experience enhancement, something of a waste of the many capabilities of the technology.
As companies prepare for the journey into the 2020s, there is a growing potential for a virtual marketing experience. This may take on various forms depending on the unique business example.
For instance, property may be viewed from a remote location, as virtual reality technology allows investors to experience physical features from afar. This may aid globalization in a variety of industries.
Controversial it though may be, blockchain does hold a lot of potential for future trade. From the banking industry to the property market, blockchain has already altered the way transactions and data are transferred between parties.
Some have even stated it to be the end of search engine monopolies such as Google and Bing…
Privacy and Ethics
Many online-based organizations have come under scrutiny over the last few months. In certain jurisdictions, the laws for online data privacy have been tightened, different countries and regions having different levels of strictness.
As standards are developed, it becomes increasingly essential for any business using technological aids to stay in tune with the latest legal requirements.
The quantum computing market is projected to reach into $5-10 Billion territory in 2020-2025. Market Research Media
Standard digital computers have been the face of technology for some time. However, quantum computers have been rising in the background since the early 80s. These machines are theoretically exponentially more powerful than the digital counterparts, and they are able to run algorithms and programs too taxing for the digital alternative.
With the increasing reliance on an online world, corporate quantum computing is on the rise. Currently, less than 1% of projects make use of quantum computing in some capacity. However, Gartner foresees more than 20% of projects using quantum computing by 2023.
Innovation is the cornerstone of value, the reason why companies rise and fall. With that in mind, it is important that companies stay ahead of the trend. One lapse in trend analysis may prove to be the difference between leading the market in a way that achieves massive growth.
This article attempts to provide a starting point for research into the new innovations that change the commercial landscape going into 2019. The importance of adaptation and a corporate commitment to persistent embitterment starts with such knowledge and a commitment to knowing what may be achieved through technological advantages.