Business leaders await in anticipation for the predictions about digital transformation for 2020. They will illuminate the path enterprises will take towards the rise of the digital economy. Digital transformation is a phenomenon that has created extensive changes in the major sectors across the globe. Since we rely on technology to such a large extent, it will be no surprise to witness even more advanced programs coming up in various sectors, such as IT, finance, marketing, etc.
The IDC had foreseen the future, predicting that by 2023, over 52% of global GDP will consist of digitally accounted enterprises. In particular, their report emphasized the impact of digital technology on businesses in the future. In 2014, alone, the major digital tidal wave accounted for 35% of the world’s GDP. It has set the expectations high and will lead to the origin of new digital enterprises.
The term digital transformation means utilizing technology to enhance business operations. That includes replacing or upgrading legacy technologies. Some examples of digital transformation include:
- Artificial Intelligence
- Machine Learning
- The Internet of Things (IoT)
- Cloud Computing
Since these agents can transform an organization’s data into effective insights. Thus, they give companies a much-needed chance to compete in an ever-evolving market.
So, do you want to find out what tech has in store for your business in 2020?
Here are the top technology predictions:
Connected Cloud System
By 2022, 70% of enterprises will opt for cloud management in private and public clouds. Moreover, to get the best out of the ongoing digital transformation, enterprises will combine unified hybrid/ multi-cloud management technologies, methods, and tools.
Their main objective would the ability to run devices whenever, anywhere, and at any time. Therefore, they would need to construct an integrated structure. Businesses can get there faster by prioritizing SaaS-based management and governance offerings. Furthermore, to identify appropriate KPIs to drive sales, a digitally-equipped system is necessary.
At the Edge Technology
The quantity of data is increasing, and so we are resorting to cloud computing. The concept of “edge computing” comes into play here, and is known as a topology. This program is different from cloud computing. Essentially, its purpose is to get the data to the data center for processing. It is also used to process time-sensitive data in remote locations, with less or no connectivity, to specific locations. Part of the current digital transformation, edge computing plays the role of mini data centers. By 2022, the world wide edge computing market is predicted to reach USD 6.72 billion. With this pace of growth, it will create more jobs, particularly for software engineers.
Digital Innovation on The Rise
About two-thirds of enterprises will be software producers, and there will be 1.6 times more developers by 2025. Thus, business leaders should be prepared for a high-tech culture. They need to invest in highly-advanced automation and orchestration systems. They should also establish good business terms with OSS (open source software) communities.
The Eruption of Industry Apps
By 2023, we will see an influx of devices adopting cloud computer programming. Many digital apps and services will be developed and processed through cloud-native approaches. These applications will be used for industry-specific digital transformation purposes. When looking to the future, companies should invest in making digital innovation a component of their core planning.
AI and Digital Transformation
AI is trending and will be quite the big thing in 2020, as well. It is predicted that AI will create 2.3 million additional jobs by 2025. These occupations will be related to development, programming, testing, and support and maintenance.
Specifically, AI will be ideal for security purposes in the upcoming future. Emerging technologies, such as hyper automation and autonomy, will make businesses digitally more vulnerable. Thus, security teams will address these problems based on these key perspectives:
· Protecting AI-powered systems
AI will secure the training data, training pipeline, and ML models.
· Using AI to improve security defense
Utilize ML (machine learning) to grasp, uncover attacks, and as parts of the cybersecurity procedures.
White space offerings will be the source of a substantial proportion of revenue growth in the present age of digital transformation. This term refers to the combination of digital services from previously unacquainted industries. There will also be more digital eco-system alliances across industries.
When it comes to this example of digital transformation, i.e., blockchain, crypto-currency is the first thing to come to mind. However, the addition of data is also possible through blockchain; you can’t take away or change it. While many companies are adopting blockchain technology now, it will be utilized more in the future.
In short, blockchain allows two or more parties to communicate and conduct transactions in a digital environment. Even more importantly, this procedure doesn’t require any centralized authority. In the year 2023, blockchain could become part of the strategy in many small-scale companies.
There is no doubt; technology will evolve at a greater level after 2020. We will see many changes in both the digital and business contexts. Companies will have to invest more in computer intelligence and advanced technology in order to keep up. Alight Minds will keep you up to date with the latest news regarding digital transformation. Because we provide IT solutions that will keep your business current and relevant in the ever-evolving digital economy.