Top 10 Technology Trends for Enterprises In 2020

Which trends will you need to look out for in 2020?

 If you are anything like me you have already turned your attentions to 2020, planning, creating successful strategy for growth and developing your market offering to provide world class customer experience to ensure you win in 2020.

In our technology-driven world it can seem like things change drastically from one day to the next. For businesses, large or small, it can be difficult to keep up with technology trends and remain competitive in a rapidly changing environment. However, by monitoring trends and incorporating emerging technology into business practices, enterprises can stay ahead of the game.

Keep reading to learn about the top ten technology trends for enterprises in 2020.

 1 - AI and Machine Learning

Artificial intelligence is becoming more advanced every day. In 2020, companies incorporating AI into their processes will have a significant competitive advantage. AI and machine learning can reduce the time spent on repetitive tasks, improve accuracy, and grow overall efficiency.

85% of customer interactions are expected to be handled through AI by 2020

 Many companies are already utilizing chatbots for their customer interactions, and 85% of customer interactions are expected to be handled through AI by 2020. This trend will cause major changes for call centers or other customer service outposts. With AI and machine learning, assistance is available in real-time, so customers will no longer accept wait times to receive help.

 2- 5G technology

There are more devices on mobile networks today than we can count. While 4G LTE brought us the mobile Internet, 5G is expected to enhance services and encompass all devices. In 2020, we will just see the beginning of the innovations brought about by 5G, but transformations will continue well into the 2030s.

 With 5G, we can expect everything to speed up and be more reliable. Smart cities, cars, manufacturing, and countless Internet of Things technologies will thrive in a 5G environment. The possibilities with 5G are vast, and businesses will benefit significantly from this technology.

3- Faster WiFi

Mobile networks won’t be the only thing getting a boost in 2020. WiFi 6 will pair with 5G to create ultra-fast connectivity across work and home. More devices than ever before will be connected to WiFi networks and can experience faster data and download speeds.

 The amount of data consumed by businesses today is staggering and will only grow in the coming years. We need technology like WiFi 6 to stay up to date. The advanced WiFi networks will be able to handle the increased load of quality and volume of data.

4- Analytics and Data

If your company is not investing in analytics, now is the time to start. Big data is already being used by many companies to form digital solutions. Analytics will provide companies with the specialization of job roles, improved machine learning experiences, better regulation and compliance, and more.

 Customer data is extremely valuable because it can provide insights for companies to gain an edge over their competitors. Real-time data processing will also be a crucial trend to follow. In 2020, data analytics will be used for digital transformation, making it imperative for companies to incorporate analytics into their processes.

 5- Blockchain (but really this time)

In 2019, blockchain was mainly used for cryptocurrency. In 2020, its usage will expand as the technology is applied to different industries and problems. Amazon Web Services is already using blockchain technology for their subscription service, offering blockchain-as-a-service. Other major leaders will follow suit.

 Blockchain can be valuable for so much more than payments. Asset management and intellectual property are just two predicted use cases for blockchain. The technology behind blockchain is likely to crop up in a variety of industries and solutions.

 6- Robotic Process Automation

Robotic Process Automation is one of the oldest forms of modern AI technology. For a while now, RPA has been used to automate tasks such as inventory management, IT services, or data entry. Overall, it is able to make processes more efficient and accurate.

 However, in 2020 we can expect to see intelligent RPA partnered with the use of AI. RPA will still provide its traditional function of automation, but it will incorporate decision-making abilities. With RPA, companies can provide a better overall customer experience and raise customer satisfaction. Spending for RPA software is expected to reach $1 billion in 2020.

 Spending for RPA software is expected to reach $1 billion in 2020.

7- Smart vehicles

We’ve been promised smart cars for quite a while, and we may actually see that promise fulfilled in 2020. Tesla may provide self-driving cars, but the technology is far from perfect (or completely safe). Imagine the possibilities in shipping and delivery with autonomous cars and drones. Pretty impressive, right?

 In 2020, we may actually see some progress in this direction. With 5G and other advancements, this type of technology may finally be possible. Uber is already partnering with car companies to design autonomous fleets, and Amazon is testing drone delivery. We may find ourselves living in the era of the Jetsons.

 8- Everything as a Service

You are already familiar with Software as a Service, Infrastructure as a Service, and Platform as a Service. In 2020, we will start to see Everything as a Service or XaaS. With Everything as a Service, businesses can generate more revenue by combining their products with services.

 A combination of the Internet of Things, AI, and new technologies are making XaaS a trend for 2020. Companies will be able to achieve faster innovation and provide more value and data to their customers. While this shift works better for some industries than others, many major players are looking into the possibilities XaaS can bring.

 9- Data Privacy

Major scandals have rocked companies in 2019 when it comes to privacy and security. Restrictions are being placed on technology companies with the General Data Protection Regulation (GDPR) from the EU, and more are likely to be established in the coming years. Brands who prioritize privacy will receive better responses from their users or customers.

 For 2020, transparency is going to be a trend when it comes to digital privacy. Consumers are more aware than ever of the data collected by enterprises and how that information is used. Offering insights into data collection and allowing for opt outs will provide a peace of mind consumers crave in today’s technology-focused world.

 10- Seamless user experience

With all of the advancements in AI and machine learning, it may seem like the robots are finally taking over. However, humans are far from obsolete. User and customer experience will be very important in 2020, and organizations will have a greater ability to serve their customers. However, the “smarter” things get, the more a human touch is needed.

 Whether an organization incorporates a chatbox or conversational AI, they will still need to provide a seamless experience when transferring customers to a human. Some tasks or situations are still too complex for AI or RPA, and humans are needed to pick up the slack. Smoothing out these transitions will be less jolting for customers and put them at ease while solving their problems.

 2020 is the year of more, faster, and better.

Conclusion

2020 is the year of more, faster, and better. Consumers expect higher levels of service than before. Businesses want faster technology and network speeds, and everyone wants technology to make life easier. It may not be possible for organizations to follow every trend, but it is important to select the right technologies and strategies that will enhance your customers experience and the service they receive. Companies who are quick to embrace this approach with the right mix of technology with world class implementation will win a competitive edge and help their businesses thrive in 2020.

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