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Tech Trends 2018

The year 2017 was defined by technological advances that are set to have long-term impacts on the business world.  Businesses have had to adapt to the rapidly changing technological landscape in the highly challenging and competitive global environment.  Increasing internet speeds and the dominance of mobile over other internet-enabled devices have already shaped business strategies across the globe.

Visual experiences: The coming years will see videos becoming “critical sources of information” according to Ian Altman. According to a Forbes research, close to 75% of people watch videos on business websites that are work related once in a week. Posts with videos are also the most widely viewed across social media with 65% of people visiting the website after watching video advertisements.

Interactive videos featuring 360-degree views, virtual reality, and augmented reality also are likely to dominate the business landscape in 2018 and beyond.  Tech giants Google and Microsoft are set to possibly use Magic Leap technology in their VR devices Google Glass and HoloLens.

Called “mixed reality” the combination of VR and AR would provide an “immersive” experience that could provide tangible benefits for business enterprises.

Mixed reality would see more applications in the realms of designing, analyzing and training needs within organizations, which in turn could boost productivity.

Artificial intelligence (AI): AI will influence business strategies, decision making, and customer experience through 2025, according to Gartner’s report on “top 10 strategic technology trends for 2018”. The focus would also increasingly be on creating automated systems that self-learn, adapt and grow in terms of intelligence. The rapid changes in AI would also necessitate increased investment in upskilling personnel, processes and business tools to leverage AI systems. As per Gartner’s prediction, virtually every app in the coming years would feature AI to some extent.

Digital Twin: Gartner predicts that technology that mirrors real-world scenario –called digital twins – would take over in a big way within the next five years. These digital representatives would help gain better insights into the state of systems or things, besides streamlining operations and consequently adding value to an enterprise and aiding in decision making. Businesses that employ digital twins would be able to achieve their objectives with the intelligent collection and analysis of the right data.

Edge computing: Businesses have already moved over to the cloud and the market is predicted to grow at a rate of 19% to reach $162 billion by 2020. A survey of chief financial officers revealed that more than 75% believe cloud will have the most significant measurable impact on businesses.

Optimizing the cloud would be edge computing that places data and analytics close to the source of the information.

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