Technology Trends That Are Slated To Change The Business World In 2019
Technology has been evolving since the early days. Due to this evolution, it has hugely affected the evolution of the social life of mankind as well. Technology changes the social behavior as well the human approach of doing any work.
It is all the thought that changes the pattern of execution. It is well evident since the early historical days that technology has evolved the lifestyle of people including communication, travelling, transportation, education, etc. In earlier days people used to communicate with relatively slower means of communication which used to take several days amd were not convenient enough. But, in today’s scenario communicating with each other has become too easy. People use faster and advanced medium for communication that brings in efficiency at their doorstep. This is made possible by internet. Earlier people used cattles to move their goods around. Well, you want to travel from Bangalore to New York. Would you opt for moving around with or on cattles? Thinking if i am have gone crazy? Yes, that is very likely to be thought if such a mode of traveling is opted for in today’s scenario as people can cover such long distances within a few hours with faster transportation medium.
Business is not related to or restricted to a particular domain. Businesses are an extension of the human and the society. They are directly linked to the way in which a human thinks or reacts. Businesses grow when they focus on what people want. Only those businesses are successful which fulfill all the expectations of the consumers from that particular brand.
Saas, Storage, Cloud And Collaboration
In mid 2010, Software as a Service(SaaS) started gaining the momentum, people started analyzing how does SaaS work and is SaaS safe for businesses. SaaS started gaining the common delivery model for many business applications, including the office software, DBMS software, CAD software, Enterprise Resource Planning, Human Resource Management System, Learning Management System, Content Management System, etc. As a result, almost 90% of the businesses are using SaaS.
Storing the data has been a matter of concern for individuals as well as organizations since long. Earlier people used to think before they store their data on an online server, now if we go by patterns almost every single computing devices come with online storage application which connects the local storage to cloud storage. Companies like Google, Microsoft and Amazon are the industry leader in cloud storage, SaaS offerings right from email management to business-critical software like an SAP. In early days, business used to set up their in-house server to host email, and all business application to run their business, but statistics are completely changed, no one set up their in-house server. Within an hour, you can configure a server and make it up and live.
Data Will Change The Business For Forever
Data is going to be one of the most valuable assets for the business reason being each and every communication and transaction that we do generate a fair amount of data. And when that data gets generated, it generates a pattern of communication and transaction. And if we look into the historical data, that pattern also generate an insight info business movement. In recent years, the technology like AI, Machine learning or Business intelligence works is all about making the machine and their algorithm smart enough to analyse the data pattern, generate an intelligence based on ample amount of data and take an action. Here, data play a major role in almost every affair of Artificial intelligence, Machine learning or Business intelligence.
Since in coming days, almost all the operation and process is going to automate based on data and insights available to the companies, it would be fair to say that data is going to change the business. Let’s explore the vertical essentially, data is going to play a significant role. At Falco Peregrinus, we did an extensive research and found out that the operation & process, Human resource, part of the sales process, an inbound and outbound call will go to be driven by data. There are several companies like Microsoft, Google, IBM are an early adopter and implemented a fair amount of technology based on data.
Machine Learning Will Change The Business Economics
Machine learning is again of the tool which works based on data going to obtain a greater commercial value and benefits for stakeholders. Machine learning is going to also set a rule for industry on how the data should be collected & stored, group them in the cluster to generate a meaningful projective learning model based on the custom algorithm. Falco peregrinus offer a number of services based on proprietary and open source to leverage the data insights. Primarily, we work on TensorFlow, IBM Watson, Tableau, Scikit-learn, Azure platform and delivered a solution for an industry like logistics, education and healthcare.
Amazon is one of the key player who implemented Machine learning in their online business and needless to mention they rule the online e-commerce business almost in every single country. Since inception, Amazon platform host the millions of products through multi-vendor e-commerce model and that product gave them billions of data-records to work upon. Using that data, Amazon created a machine learning model, and their algorithm generates a model to prediction in seconds on a massive scale. Amazon not only implemented for their own platform but also gives an API where any business can implement those machine learning model.
Artificial Intelligence As The Key To Business Breakthrough
Artificial Intelligence is the tool of a new age, Sophia robot, Boston dynamics robots and MIT robots are some of the key breakthroughs in the AI industry. A company like Amazon implemented robots in their inventory godown to lift and place the products based on Artificial Intelligence. Artificial intelligence aims to emulate human behaviour based on datasets to take a decision, learn, comprehend, develop language and communicate interpersonally. However, Implementation of AI in the real world is very less but if we can see the experimental results like autonomous cars to human alike, maybe in few years, business will have plenty of real-world use case. Investments in AI made by organizations should focus on arranging and integrating data, creating algorithms, selecting training methodology based on need, and creating models. The International Data Corporation (ICD) predicts that more than 50% of development teams will incorporate cognitive abilities in their applications in 2020.
Blockchain As A New Firewall
Identification is the key to any transaction whether it is a banking system or a simple communication between two people. And blockchain is going to play a major role and will change the business forever. Cryptocurrencies took their first steps way back in 2012 and in 2018, Organization like International Monetary Fund and respective reserve banks exploring the possibilities of optional currency. The current value of cryptocurrency is more than any other currency in the world. Creating easily distributed public and the resistant database is definitely gaining momentum. As per Falco Peregrinus research, blockchain technology will transform the way we store and manage data. If you go through the Gartner and industry standard reports on the blockchain, they predict the blockchain implementation by 50% in almost all the sector.
The question comes, why we need cryptocurrencies and blockchain like technology. The answer is, digital transformation in other areas has improved and overhauled the whole dynamics. Since data is going to be everything therefore, it is also important to bring a new firewall to protect and authenticate that data, and that will be – Blockchain. At Falco Peregrinus, we bet on blockchain technology to not only improve the authentication process but also to minimize the fraud in the industry.
Conclusion
Considering the potential of technology like Artificial Intelligence, Machine Learning, Blockchain and Data Science, it is highly fascinating to think of a world being automated and being functioned by robots. This would give the business a lot of free space and time to increase productivity on things which they think are more important and beneficial for them. Once implemented, these technologies will give a new dimension of living in this world.
