Top five emerging technologies to look out for in IT & Consulting
“Emerging technologies of the future are changing the dynamics of the businesses and reshaping the world into something not many envisaged a couple of decades ago.”
The world is not the same again. With the emergence of the COVID-19 pandemic, it has changed in unimaginable ways. What looked impossible a few decades ago now look feasible. What felt difficult now seems easy, and what seemed complex now became simplified.
Call it the repercussions of the pandemic or the rising opportunities that came as an aftermath.
Still, there is nothing denying that evolved ways of businesses have become the new normal, and digitization and digital transformation have occupied the driver’s seat.
According to research from Statista, global digital transformation spending will reach USD 3.4 trillion by 2026.
Factors such as the need for digitized business practices, the surge in internet penetration, and the growing significance of digital transformation across industries are fuelling market spending of digital transformation.
Let’s look at the top five emerging technologies knocking on the door of businesses in the upcoming years.
1.Data Sharing Technologies
Data sharing has become an essential element of businesses across sectors. The data defines the future with digitally driven decision-making, adding value to actionable insights made by business leaders.
Combining the data with technologies such as FHE (fully homomorphic encryption) and differential privacy, organizations can now share the encrypted data and perform computations, enabling data sharing while preserving data security and privacy.
Cloud is the future of businesses. With the growing advent of digital technologies, organizations are storing their data in clouds, where cloud-based technologies have become more critical.
In response to the advent of COVID-19 pandemic repercussions, cloud giants and software vendors are developing an array of cloud-based solutions and APIs for easy adoption and to create digital differentiation.
3.Blockchain for Businesses
Blockchain holds the potential that is enough to transform any business.
The surge in the usage of cryptocurrencies has brought the importance of Blockchain to the limelight.
Cryptocurrencies and NFTs (Non-fungible tokens) and DLTs (distributed ledger technologies) are creating opportunities for new business models and are driving productivity by fundamentally changing the nature of doing business across organizational boundaries.
4.Automation at Scale
Still, many organizations follow the traditional methods of doing repetitive tasks manually, and that’s where the significance of automation becomes imperative.
Automated processes are consistent and auditable, which helps organizations monitor the reviews and respond to tickets created by their customers.
Business leaders across the companies are leveraging the investments made by cloud providers to accelerate their journeys and serving the customers.
5.Cyber based AI
Despite making significant investments in cyber security technologies, organizations continue to suffer from cyber breaches in one way or the other.
This is a dire state for business leaders to protect their organizations’ IT infrastructure against cyber threats and embedding AI with cybersecurity to create a more resilient working environment against cyber threats.
For instance, organizations such as Sapper Labs, Canada based leading sovereign cyber defense and intelligence company, focused on the provision of products and services is collaborating with government agencies to develop a multi-layered threat detection system that fuses information and data from satellites and land and sea-based sensors to add valuable insights to their customers and overall businesses.
Moreover, the above-discussed emerging technologies are not just the survival guide for organizations in such testing times but an opportunity for them to thrive in the longer run.
Businesses are evolving, organizations are shifting to new ways of carrying out their operations, and companies are focusing more on digitally driven solutions.
In such instances, companies are becoming more focused on these technologies that enable them to focus on not only the technology part of businesses but also making them make actionable insights that help companies drive their business profitably, both in the short term and in the long run.