It’s the digital era that is full of innovations and changes. Thus, the upcoming 2019 is expected to be the breakthrough year for the tech business landscape. But that’s the very beginning only. Thus, due to the IDC (International Data Corporation) report by 2023, almost all enterprises over the globe will act as a digital native.
AI, Blockchain, IoT, AR/VR, and other technologies are found to be accelerators for the digital transformation, which is going to expand because of the increasing amount of organizations that use the techs to boost the revenue.
Checking the report by Digital Means Business
, you’ll see that 72% of organizations found that the most significant benefit of the digital transformation is improving the customers’ experience. And the innovations are the way to reveal the users wishes to provide the relevant offers to them.
Key Factors that Drive Transformation in Business
Digital infrastructure, cybersecurity, workplace and technology will be in focus in the coming year - all that provokes the digital transformation that will touch every business sector. Enhancing demands and innovative technologies will make CEOs to rethink and reshape the business models used before. And that’s why we can name 2 (two) key factors forcing organizations to implement innovative techs: customer expectations and desire of companies to stay competitive.
Top 6 Technologies That Will Reshape Business in 2019
With developing of such technologies as automation, AI, IoT, ML (Machine Learning) and others, 2019 is going to be a technological revolution, and it’ll transform the industries ranging from banking to retail. Though there are lots of new tech trends influencing the market, we can bold top 6 that will lead and play the primary role in reshaping of the business landscape. So, if you are going to create a web or mobile solution to reshape your business, finding the right tech partner and choosing an appropriate technology stack
is the first thing you should do. Let's take a closer look at each technology and learn the profit they’re going to provide and why you’d add them in your business plan.
#1 Artificial Intelligence (AI)
AI is already a hit of the 2018 that has captured about 40% through Automation. Anyway, it’s going to be improved and developed much in the next 2019 year. Businesses with integrated AI solutions gained a competitive edge and an ability to provide their customers with high-quality service experience.
Using chatbots in the business is a commonplace today even in everyday products. For example, Amazon’s Alexa and new virtual assistant from X.ai - Amy. E-commerce companies use the technology to improve online shopping by providing 3D images of the products that allows the buyers to rotate, take a closer look and zoom the objects.
According to figures of TSUM
reported, their conversion rate was increased by 40% by implementing the solution. Meanwhile, Yoox
that is another online fashion retail also integrated AI tools to analyze data gathered from customers feedback, social media content, online magazines and own sales info for improving the offerings by making them more personalized.
As you see, AI-powered services and products are popular among the customers. Also, the growth of the market value
up to $8.81 billion by 2022 is predicted due to rapidly deployed Machine Learning (ML). Moreover, AI platforms are forecasted to have a great impact on the big data analytics too.
#2 Augmented Reality (AR)
It's already a trending technology gaining momentum in different industries and is going to develop in 2019. Healthcare, military sector, art, e.g., are going to be changed by way of the Augmented Reality tools/apps.
When it comes down to the military industry, such AR solutions can be used for training soldiers and prepare them to the missions, that can save human lives. Talking about healthcare and medicine, AR can uplevel the skills of medical staff that will also improve patient outcomes. Thus, technology tools are to take medical training to a higher level.
Also, the tech can make museums and galleries more accessible. Using AR, it’s possible to create interactive illustrations of paintings, for example, to give the visitors the capability to see them via the mobile app.
#3 Multi-Cloud Environments
Big data and cyber safety will be on topic next year as well. The digital transformation makes organizations abandon not only their previous business models but also tools. That’s the reason they will focus on Connected Clouds that can be either Private, or Public, or (preferable) Hybrid that can gather and process data faster and safer, making all the operations more efficient.
Open APIs are built in cloud-based security systems. That allows to integrate new technologies easy and quickly, and at a lower cost. Such innovations as Hybrid Clouds provide the users with the capability to store sensitive data and share only the specific info using the single cloud.
#4 Internet of Things (IoT) for Everything
IoT is a trend of 2018, and it’ll keep growing in the upcoming year, that’s expected to hit a value of $561.04 billion
by 2022. According to the figures
, today there are already 3.6 billion devices, and it’ll be even bigger in 2019.
It’s predicted that every business from small to large one will choose the IoT for increasing the revenue because the technology impact is more immediate in comparison with other customer-built techs.
The majority knows the blockchain as the technology behind the cryptocurrencies like Bitcoin, Etherium, Litecoin, and others. Anyway, that’s not all about the tech to know. First and foremost, Blockchain is a decentralized ledger that provides immutable transactions without any validation of the third-parties required, storing data on thousands of computers.
Retail, realty, finance, other multiple sectors can profit from the blockchain development. It can be used for payment methods in international transactions with lower fees, for example. Talking about the businesses, they can use it to raise money using ICO
. Also, there are ways to leverage the blockchain that is going to make $3.1 trillion in business value
Automation started to conquer the market and change it in 2018. Autonomous vehicles have been already presented. It’s expected that self-driving cars, buses and trains will overtake the conventional vehicles. That is going to modify the economy in transportation with appearing safer, faster and more robotic vehicles.
It’s not the only industry where the automation technologies will be implemented. Manufacturing, as for instance, is going to become more robotic and intelligent as well. That is bound to reduce the cost of products and process in total. Sounds promising, let’s see.
Top Technologies and Transforming Business: All-in-All
The next 2019 is expected to be a year of technological revolution. The digitization of the business landscape is rapid, and it transforms lots of industries. The companies can’t ignore the cutting-edge solutions in case they want to stay competitive and provide the customers with a positive experience.
All that will provoke enhancing app and service development, improving intelligence, widening of the companies digital reach, as well as increasing of consumers’ safety demands and expectations in the whole. And as a result, companies should focus on transforming their business processes due to the effect of tech trends.
The digital transformation is not only a technological shift but also organizational. It’s high time to integrate AI, IoT, AR, Blockchain and other trend innovations into your business plan/models to upgrade your services and be successful in it.