What Does Innovative Technology Look Like in 2020?
The Expansion of Voice
While VoIP calling and communications alternatives are today fully integrated into our daily lives, further expansion in voice is inevitable. There are hundreds of VoIP-based providers that continue to help improve processes for businesses including: Nextiva, Telzio, JustCall, Jive, Skype, and so many more. In the meantime, voice recognition technology is making huge strides. You’ve already spoken your text messages, talked to your spouse over your car phone, and given live voice to Siri (Apple), Echo Dot / Alexa (Amazon), and Google Assistant for some time now. Imagine using voice for all of your web browsing, performing online banking via secure voice, or establishing a chatbot to manage your customer services organization. Expect both live and automated voice to continue to replace many manual processes with the upcoming expansion of voice.
The Home Shopping Evolution
As shoppers go online for nearly every item from home furnishings to appliances, eCommerce providers strive to continue to outperform. From the Amazon Prime’s new 1-day delivery goal to same-day grocery shopping delivered direct to your door, the evolution is not about to stop. Online retailers will compete to offer ease in shopping experiences including same-day deliveries, social deals, free shipping, simpler-than-ever returns, and easy low-cost payment options. It’s early to tell how the home shopping evolution will impact the future of local box stores and shopping malls.
The Payment System Outbreak
The digital payment system is an epidemic, and consumers are enjoying many competitive options over traditional methods to send and receive payments. New electronic payment systems are surfacing to offer better rates, easy payment transfers, and integration with local banks. Not only that, mobile banking is on the rise, particularly among new generations of consumers. Retailers are more eager to take digital forms of payment than cash or coin. Finally, cryptocurrency is proving to attract a certain audience and is expected to become a more viable means of currency exchange. The payment system outbreak is to the advantage of businesses and consumers in every part of world.
The 5G Explosion
By now, you’ve heard about the 5g hype—the fifth generation in cellular technology that promises to soar and resolve the last annoying issues with bandwidth, efficiency, latency and connectivity. It’s true that 5g expects to be 10 to 100 times faster than its 4g predecessor, boasting 32 gbps in its infancy (although keep in mind it does not replace 4g but will rather work with it). Companies in every industry may want to begin asking key questions about a 4g upgrade to their environment (if not already there) in order to prepare for the 5g wave. This wave is expected to impact businesses’ mobile technology, online communications, and worldwide remote capabilities. Consider 5g technology improvements for: 1) online video, conferencing, and live chats, 2) business education connectivity, worldwide meetings, and high-end conferencing, and 3) traffic control, medical conferencing, and remote surgeries, to name a few. The 5g explosion is certain to fix lingering cellular issues over time and improve worldwide communications opportunities like never before.
The IoT of the Future
Imagine an Internet of Things (IoT) worldwide event with over 12,000 exhibitors and sponsors. If you really want to know where IoT is going in 2020 and beyond, you may want to attend Internet of Things World, April 6-9, 2020, at the San Jose Convention Center.
According to an article by Serge Koba, Lead Solution Architect at MobiDev, “The Internet of Things is actively shaping both the business and consumer worlds… smart tech finds its way to every business domain there is—from retail to healthcare, from finances to logistics—and a missed opportunity strategically employed by a competitor can easily qualify as a long-term failure.”
While there are many promising developments for IoT using AI, digital twin technology, blockchain, WebRTC, biometric authentication, and 5G, there is a definite shift from home-based, voice-enabled products to enterprise solutions. For example, the industrial sector is beginning to take advantage of hands-free controls and wearables for rapidly tracking processes, which is expected to lower costs. In this way industrial IoT offers businesses easier methods of communication between devices and users. Authentication in the form of biometric security is also highly desirable in the industrial environment. The IoT of the future is certain to broaden beyond our expectations.
The best way to prepare for the innovative technology opportunities of 2020 is to upgrade your company’s information technology infrastructure. Consult with a RackCo team member to learn more about how you can be prepared for the technological advancements of the future. It is an exciting time for new IT verticals and strategies. Staying current is one of the best approaches your company can take.