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Technology Trends for 2019

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The rapid development of technology with acceleration has made it the principal factor for social, economic and political changes in the world.

It has become a large spectrum of human activity and therefore it has a potential of overpowering human minds. Though every single technological up gradation is created and invented by humans, soon it can happen that humans will become lesser powerful in terms of technology.

Going into 2019, there shall be various tech trends that shall shape the entire universe including

Trend 1: Easier access will accelerate adoption of game-changing technologies

Until now, industry players have spoken about innovative technologies somewhat theoretically, without providing a clear picture of how these powerful new innovations will be used. This has left people without a solid understanding of how they will ultimately manifest in our work and personal lives. Think analytics, machine learning, artificial intelligence, blockchain, and containers, just to name a few.

That’s starting to change. The application of game-changing technologies is becoming more pervasive and their adoption is growing steadily. It’s believed that they’ll be firmly embedded in many of the core processes and technologies we use, within the next 3-5 years.

We’ve seen how artificial intelligence (AI), machine learning, robotics, and virtual and augmented reality have started to converge to deliver compelling outcomes in just last year. This is expected to accelerate.

One reason that adoption is increasing, is an improved understanding of how and where to use such technologies. And of course, we’re also seeing growth in the number of skilled people who know how to leverage them.

Easier access is already accelerating adoption of key technologies

Another important contributing factor for more rapid adoption is improved access to such technologies, both from a platform and cost perspective. The hyperscale cloud providers at an infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and software-as-a service (SaaS) level, such as Google, Microsoft, Amazon, and Salesforce are starting to embed these capabilities into their offerings, or making them available as a platform to be used by third parties.

This is helping businesses overcome the hurdles they’ve faced in the past. Now they can get access to game-changing technologies without having to invest in building their own algorithms and platforms. Instead they can focus on how to exploit these technologies and speed up the rate at which they get business value.

Bots and robotic process automation are already becoming part of our everyday working and personal lives. It’s relatively simple to create a bot that will access all a company’s sales support systems, and provide a consolidated dashboard. These dashboards can be unique to each customer service employee – paving the way for more informed decisions. It’s changing the way we work, the service levels we can provide, and our effectiveness.

3D printing has also been around for some time, mainly based on resin or epoxy-based materials, but we’ve seen this move quickly to metal-based 3D printing, which is opening up a multitude of new use cases.

Trend 2: Identity will emerge as the killer app for blockchain

There’s been a massive amount of investment in blockchain in the last 12 months. In the financial and capital markets, blockchain-based platforms are rapidly starting to dominate. We’re now starting to see this extend to additional settlement areas such as equity trading. There’s also been a proliferation of blockchain-based smart contract platforms across multiple vertical segments, both in the private and public sectors.

The market is starting to see ecosystems of value emerging around the blockchain platform vendors, such as R3/Corda, Ripple, and Ethereum. Platform providers are beginning to align to verticals or specialised applications, and it’s interesting to observe the emergence of ecosystem incubators developing additional applications for a specific vertical, on a particular platform.

It is believed that identity management will emerge as one of the killer apps for blockchain in the next 3-5 years. It’s a topic that’s never quite been resolved in the industry.

It is believed that moving identity management into a blockchain environment could offer a solution to many of the current challenges, and in addition, open an entire new value chain, centred on identity.

Consider the other value chains that could emerge … perhaps allowing individuals to truly own and control their identity and its attributes, and selectively allowing the use of such attributes by third parties in transactions or interactions. This could fundamentally change how we conduct financial transactions or even sensitive interactions regarding our health ─ all attributes relating to our identity. There’s no doubt that blockchain-based innovation will expand and accelerate over the next 3-5 years.

Trend 3: Companies will learn how to extract value from data, while respecting privacy

Data value management is a topic that will dominate our industry in the next 3-5 years.

Today, almost every company has access to large volumes of data. But it’s what they do with that data that will define the business models of the future. This isn’t necessarily a new statement, but the context and impact has escalated dramatically. Current business models will be re-engineered by the value of the data that’s generated by existing activities. The value of the data will supersede the value of traditional revenue activities ─ an interesting concept in its own right.

The concept of data value management will become one of the most important investment areas over the next 3-5 years due to its monetary value potential, but it will also become one of the major driving forces of investment to create more data. Businesses have strived to become more digital in nature, but those that excel in managing the value of their data, re-engineering their business models, and establishing new revenue streams, will become the true digital business heroes of the future.

Monetisation of data must respect privacy

Of course, ensuring that people’s personal particulars aren’t shared illegally is critical for any business considering going down this path. Regulations regarding data privacy continue to grow, both at a country and vertical industry level. Fortunately, the increasing interest in data value management is spurring massive innovation to address the issue of privacy.

Data sources are growing, the granularity of the data itself is improving, and because of this the potential value that can be extracted is growing even faster. The increasing challenge is how to derive insights from disparate and distributed data sources, without infringing regulatory or basic confidentiality guidelines. Anonymized data analytics at scale is an ongoing challenge and finding ways to gain the rich insights without sharing source data or causing breaking the law will become barriers to growth, if not solved.

Trend 4: The Internet of Everything will change our lives for the better

The number of things connected to the Internet in 2008 exceeded the number of people on earth. By 2020, it’s expected that 50 billion things will be connected, and this goes way beyond ‘things’, it becomes ‘everything’ or simply the Internet of Everything (IoE). The IoE ecosystem will connect the online and physical worlds in ways we’ve never imagined and society will become increasingly technology-driven as a result. There’s not a part of our lives that will go untouched. Automation will take on a new meaning, data value management will be accentuated by the richness of data, and AI will ingest the data to drive intelligent insights and outcomes we’ve never seen before.

The human API will evolve

The IoE will encompass every area of our lives, transforming the way we provide healthcare, and the way we live, work and learn. It will re-engineer our lives through what we increasingly refer to as the ‘human API’ enabling us to interface with various connected systems in ways that are hard to anticipate. The scope of biometrics will expand from what we understand today, to include gestures, emotions, expressions, and many more aspects, triggering automated system reactions to complement, ease, or enhance our activities.

Trend 5: Disruption will drive consolidation among tech vendors

A period of unprecedented change and disruption for major technology vendors driven by factors largely outside of their control is anticipated. Not only are technology consumption patterns changing, but how innovation is driven, products are developed, and intellectual property is shared in an open source and free manner. All of this is driving disruptions that are hard to predict or manage.

The emergence of new technology giants, with very different business models, is driving some of this change – and shifting the landscape at a scale not seen before. The increasing market dominance of the FAANGs – a term coined to describe Facebook, Amazon, Apple, Netflix, and Google – and a resurgent Microsoft, are leading this disruption.

FAANGs don’t buy their technologies from original equipment manufacturers (OEMs) like HP, Dell, Cisco, or IBM. Instead they source technologies or components from original device manufacturers (ODMs), write their own code and build their own solutions. This diminishes the addressable market for OEMs.

The rise of the FAANGs will cause a shake down of the OEMs

The effect of all this on OEMs will be significant, and in some market areas OEMs are already competing for roughly 40% of the total addressable market. As time goes on we’ll have a lot of big fish competing in a smaller and smaller pond – and it’s foreseen that the big fish will start eating the small fish… I believe that the vendor landscape is going to undergo a metamorphosis over the next 3-5 years and those that emerge, will look very different.

 

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The Future with Internet of Things

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                                                     … Internet of Everything

We all use the internet daily for various reasons employing different standard devices such as desktop computers, laptops, smartphones, tablets and what have you. Now a wide range of traditionally “dumb” or non-internet-enabled physical devices and everyday objects are embedded with technology. These devices can communicate and interact over the internet, and can be remotely monitored and controlled. These constitute the Internet of Things (IoT).

The term “Internet of Things” (IoT) was first used in 1999 by British technology forerunner Kevin Ashton in the context of supply chain management. IoT is “the network of physical objects that contain embedded technology to communicate and sense or interact with their internal states or the external environment”, as defined by Gartner. IoT has come to incorporate internet on a daily basis into our personal, professional and societal lives. Indeed our common TVs are now smart TVs, we have smart appliances, smart air conditioners, smart thermostats, smart lighting and smart security just to name a few. These devices are used by individuals, enterprises and industries.

Imagine your car is able to communicate with your gate as you arrive, or the conference room set up for your staff meeting is able to regulate the room temperature based on the number of people in the room or even the sensors in the production line machinery are able to detect an anomaly. These are things that are already happening, definitely a smart way of living, making life easy.

Why do we need the Internet of Things?

IoT is basically to expand interdependency of humans to interact, contribute and communicate to things. For example, the way humans interdepend on one another for information, sometimes we do not get the information as quickly as we would want it because someone may not be available at the moment to provide it. When we expand this interdependency to things, getting the right information, at the right time and at the right place makes our work more efficient and timelier.

Recent researches show by next year; 2020 we would have over 20 billion devices using IoT. These devices cover a wide range of areas including; environmental monitoring, infrastructure management, industrial applications, energy management, medical and healthcare systems, building and home automation, transport services, and large scale deployments.

Brendan O’Brien said “IoT promotes a heightened level of awareness about our world, and a platform from which to monitor the reactions to the changing conditions that said awareness exposes us to”, hence a smarter way to manage these conditions.

  • Smarter disaster management with the ability to accurately predict natural disasters and prevent fewer damages and victims.
  • Smarter Urban Management that will aid in proper monitoring of traffic and regulate to the ever-changing flow from “rush hour” to downtime. IoT gives better and proper ways of utility distribution while also cutting down on emissions that pollute the earth. Bridges, railways, or roads can be tracked to diminish the risk of danger to road users.
  • Smarter Healthcare by providing wearable devices that monitor your body’s vital statistics like your heart rate or blood pressure, and whenever something goes wrong an alarm goes off to alert the hospital of your condition for an ambulance sent to your location.
  • Smarter Homes giving you the ability to monitor and remotely control your devices such as air conditioners, security lock, lighting system, regulate your thermostat, TV or audio system for your comfort, security, and low energy consumption.

Benefits of IoT

IoT is definitely making an impact on our personal and professional lives. The benefits of IoT speaks for itself no doubt. The benefits include:

Efficient Resource Utilisation

If a smart system/device is configured properly and fully understands how things work, the resources available to it will be fully utilised. For example, voice assistants like Apple’s Homepod or Amazon’s Alexa can provide answers to your questions without you needing to pick up your phone or turn on your computer.

Minimising Human Effort

The concept of Smart Homes is growing very fast with this benefit. A smart home/office is able to do a lot of things for you without you making a single effort, your interaction with such devices will be minimal. Like, regulate the temperature in the room, increase or dim the lighting system and lock and unlock doors. You can relax and have a good time.

Saves time

Definitely, anything that reduces human effort, and utilises resources available will save time as well, which gives you additional time to accomplish other activities.

Development of Artificial Intelligence (AI) through IoT

Your smart device is able to learn things about you by swiftly gathering data on the things you like or dislike and modifies services to your preferences. According to Kevin Lindsay, “more personalized connections are better connections. More personalised means more relevant, more interesting, less distracting and more enjoyable.” AIs such as Google Assist, Siri, Cortana and Alexa are all examples.

Improved Security

The security integrated into these IoT is very huge so the overall security with respect to everything will increase multiple times. The connection of these devices and objects to the internet is a whole new ballgame that puts security, interoperability, power/processing capabilities, scalability and availability into question in order to successfully deploy an IoT system and its connected devices. With that in mind features like device registration, device authentication/authorization, device configuration, device provisioning, device monitoring and diagnostics, device troubleshooting have been put together by device management companies to help integrate, organize, monitor and remotely manage internet-enabled devices at scale, whiles offering features critical to maintaining the health, connectivity and security of the IoT devices.

Features of IoT

Internet of Things is one major technology in the world that can help any other technology reach its full potential. To connect, analyse and integrate, are the main ways as to how IoT works.

Connect

The device is virtualised using a standardised integration of devices with the IoT enterprise, with a high-speed messaging system to enable reliable, secure and bi-directional communication between devices and the cloud and finally endpoint management to manage the endpoint identity, metadata and lifecycle states of all devices.

Analyse

Real-time analyses of incoming data streams with event aggregation, filtering and correlation mark the streaming process in the analysis stage. Apart from this, raw data is enriched with contextual information to generate composite streams. An event store queries and visualises the massive amount of data with integrated Business Intelligence (BI) Cloud Service support to enable big data analysis.

Integrate

Critical IoT data and events can be dispatched dynamically to applications through Enterprise Connectivity to a corresponding Service Provider using Representational State Transfer (RESTful) Application Program Interface (API) based integration with Cloud and IoT devices. In addition to this, most importantly is the command and control. If there is no way to send messages to the device from enterprise or mobile apps independent of device connectivity then the device or system itself is not useful.

Predictions about how big the Internet of Things are going to be and how it is going to take over everything (Internet of Everything) in the year 2020 started over a decade ago.

Flatworld Solutions predicts that by 2020 IoT will connect 21 billion devices. According to them; “the Internet of Things has taken the technology world by storm. And its limitless applications have fuelled its popularity. Hence, every year more and more devices are getting connected with IoT”

Symantec Corporation envisages more cities will become smart. “Consumers won’t be the only ones using IoT devices. Cities and companies will increasingly adopt smart technologies to save time and money.”

Artificial intelligence will become a trend, “…every smart device connected to the internet will learn its user’s patterns and habits and will respond accordingly through learning.” Chris Albert revealed in 2018.

5G networks will make their presence felt, foresees Fredric Paul. Although these IoT devices rely on low-powered, low-data-rate networks, 5G will have a big impact high-end IoT applications linked to robotics and automation, virtual and augmented reality (VR/AR) and artificial intelligence and machine learning (AI/ML).

We are in 2019, and so far this is an absolute reality. Definitely slow in catching up in the developing countries but far ahead in advanced countries. So what does the future hold for us? We are moving from just the Internet of Things to the “Internet of Everything.”

A smart world ready to be conquered with millions of opportunities to be grabbed in this field as McKinsey predicts the IoT market will be worth $581B for ICT-based spend alone, growing at a Compound Annual Growth Rate (CAGR) between 7 and 15% by 2020.

By 2021, IoT spending will reach $6 trillion predicted by Flatworld Solution. Big money is already been seen in this technology space as the world has recognised “Internet of Things’ ability to enhance customer experience. Hence there will be no dearth in funding and capital for IoT.”

So brace yourself, and welcome to the world of “Internet of Everything!”

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