Technology Trends for 2019
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 the 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 the 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 specialized 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 entirely 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 the 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 have 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.
The monetisation of data must respect the 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 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 shakedown 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.