While Innovation was rife in 2017, it is expected that 2018 will bring the cherry on the cake. While businesses are shifting continually towards making things work with Technology in view, organizations have had to embrace the Tech wave for good.
A paradigm change in the way businesses operate is the consequence of the trends in Digital Transformation. From Artificial Intelligence to Blockchain, to Machine Learning, to Data Analytics, 2017 saw the onset and the growth of numerous new Technologies that have forever changed the face of businesses.
Studies have shown that a difference of as much as 20 percent was recorded in the gross margins of the firms that were ready for the digital transformation and those that weren't so much. With these fact in place, it is becoming impossible for businesses to operate without paying heed to the latest advancements and the altering shape of operations.
Some trends that will engulf industries and businesses in 2018 are -
Iot Wave Will Submerge All
The current number of connected "things" happens to be 8.4 billion and is a little short, about 18 million, of what Gartner predicted in the year 2013 for the end of 2023. IoT's importance is not limited to collecting data at several points and storing it in a place, but it lies with the Technologies underlying it- advanced analytics, 5G call processing, sensors tech, and edge computing, among many others.
As data is flooding the world, organizations are feverishly building analysis and streaming solutions to derive value out of this data and chalking out ways to extract knowledge from it.
Analytics And Deriving Value
If you are already getting maxed out on data, please don't! This is not the highest value you can derive from it, for sure! As organizations are frantically looking out for new ways to churn and process data, 2018 is set to witness the real potential that comes from this analysis and the insights that follow. Major tech giants like Microsoft, Google, SAS, SAP are all investing by millions into the discovery and exploitation of the power of Big Data.
A wide variety of industries and sectors are realizing the power of data and are continually looking out for new ways to base their decisions on the patterns and information that comes from this data.
Edge Computing
Edge computing will keep you on the edge of your seat throughout 2018. With the application of the Internet of Things, owing to the volume and the speed of the data, businesses are jumping quickly to edge computing. Giants like Cisco and HPE have placed huge bets on the success of this Technology in terms of Hardware, Custom software solutions, and Services. With devices collecting and churning data at the fastest speed, sending this data to the cloud will soon become obsolete, and that's where Edge Computing will step in. The technology can provide these devices with the processing power and real-time responses.
Blockchain Steps Up The Block
While Bitcoin continues to blow away stock market analysts and experts, Blockchain looks forward to finding a permanent spot this year. In February last year, Blockchain was the second most searched term on the Gartner's website, with an increase of 400 percent in 12 months.
The Financial industry is expected to be the first one to realize and actualize the potential in Blockchain while others wouldn't be far behind in the league.
AI Becomes More Than Just A Buzzword -
Employees have been fearing the AI wave as all they can see it be doing is snatching away their jobs. And the top executives of businesses are amicably embracing it as they feel it will change the way their businesses operate and will eventually lead them to success.
While none of them are wrong, AI is set to mark its powerful in 2018 with its wider and deeper applications blanketing most of the leading industries. Be it medical research, retail, healthcare, education, transportation, there is no area of operations untouched by AI.
As we step into the new year, the technologies appear happy for the bright future they see for themselves and for the potential in man to exploit their power.
