Digital Transformation Trends for 2020

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In the 21st century, digital transformation trends are like a rollercoaster. Sometimes they go slow and we do not see any new trends for months and sometimes, they come as fast as an upside downturn. As the pattern has been since the last decade, this decade will not be any different. We will see advancements in every part of the digital industry. However, most digital media experts think that the best way a company will grow in this new digital era is through customer experience and satisfaction. A company will benefit by Going digital as well by keeping the customer’s preferences in mind.

That being said, digital transformation trends for 2020 will still have the undertones of innovation and technology that will let companies compete with each other and customers differentiate between companies that are competitors within the same industry. Different and newer digital technologies are taking over how businesses deal with business and it would not be smart for any business to be left behind. Some digital transformation trends have been around for a long time; however, there are some that will leave even the most tech-savvy individual surprised.

Here are the few digital transformation trends that we will get to see in 2020 and the decade to come:

5G

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The 4G technology has been around for quite some time and, even though it is fast, it is time to move on! 2020 will be the year 5G will come into use. All top companies like Qualcomm, Nokia, AT&T, amongst others will implement 5G in their normal plans. 5G, though it will be extremely useful for consumers, is going to pave the way for other industries like the vehicle industry. Multiple industries have been waiting on 5G for things such as smart car development, real-time data sensors, etc. Digital experts say that 5G is not to be confused with WiFi6 which is the next new and improved generation of WiFi. Though both will explode in 2020, they are not the same.

Analytics

Digital technology experts such as Daniel Newman, a principal analyst, and founding partner at Futurm Research, say that companies who are not paying attention to or investing in analytics in 2020 will have an incredibly difficult time staying in business. Analytics provides companies with consumer data and give them the opportunity to better their consumer experience as a whole. The big companies have already figured out that the future is indeed data! Analytics is helping companies make sense of the terra bytes of data being created by consumers daily. Analytics is enabling companies to understand the consumers’ mindset, their likes/dislikes and then offer tailor-made solutions.

Artificial Intelligence and Machine Learning

A company could do really well with a dependable artificial intelligence program in place. Artificial intelligence helps in processing the complex amounts of data that a human being would not be able to process. There are countless benefits of AI to a business or a company. Some of those benefits include improving personal shopping experiences, automating customer interactions, data mining, predicting outcomes, improving the requirement process, etc. AI is incredibly important for a company’s growth but machine learning is also a concept that most companies tend to overlook. Some benefits of machine learning to a company are it simplifies product marketing and assists in accurate sales forecasts, it helps facilitate accurate medical predictions and diagnoses, it simplifies documentation that is incredibly time-intensive, etc. A very helpful analogy is ‘you would not fill your house with food if it didn’t have people there to cook it and eat it.’

Also Read: USE OF ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING IN FINANCIAL SERVICES

Privacy development

As the technology gets smarter as do the hackers. Technological advancements do not necessarily mean that companies are safer from outside threats. This is why, in 2020, we will see companies paying more attention to privacy and security. Companies will use privacy and security to their competitive advantage by allowing users to understand where their data is being used and what type of information is being collected. Moreover, as the digital footprint of people increases, their awareness of protecting their data & privacy also increases. Companies would need to assure & guarantee to their customers on how their data is being used and how it is secured.

Blockchain uses beyond cryptocurrency

Many digital technology experts predicted that blockchain would be extremely popular in 2019. However, starting from 2020, blockchain will have other uses beyond cryptocurrency. Amazon Web Services have already started working towards other uses of blockchain and so have other major companies such as Alibaba. Some other uses of blockchain technology include payment processing and money transfers, monitoring supply chains, creating digital identities, digital voting, amongst others.

IoT

Firstly, let’s understand what IoT is. IoT is Internet of Things. “It is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.” That being said, though IoT is already quite common, it will only become more common in 2020 and the coming decade. It is estimated that the number of IoT devices will increase to 75 billion by 2025. However, the importance of IoT is not just gathering data through smart devices; but also the technologies that make it work like advanced analytics, 5G, sensor tech, amongst others.

Robotic Process Automation

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Robotic Process Automation is considered as the lowest form of artificial intelligence because it has already gained momentum in the last few years. However, it will only continue to grow. If companies believe that robotic process automation is trustworthy, in the coming years, we will see unattended robotic automation take over. Companies such as Cisco have already started using robotic process automation to help their employees as well as increase the skills of their workforce.

To Know More on Robotic Process Automation: https://www.quadlogix.com/robotic-process-automation

Conversational artificial intelligence

If you have seen the movie ‘Her’, you already know the pros and cons of conversational artificial intelligence. Conversational artificial intelligence will only grow more useful in 2020. Microsoft is working incredibly hard to develop conversational artificial intelligence that will not only help people keep conversations but also understand human emotions and tones. Which is a big leap in the right direction!

Will there be more digital transformation trends in 2020? For sure! As we mentioned before, digital transformation trends are like a rollercoaster. We never know when the turn will come. But it is going to be an exciting year!

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