Technology makes the world go round today. As user interactions with technology evolve and become more complex, the future looks more promising and almost magical to think about. But, magical does not mean that it is not attainable. In fact, it is very much tangible, and as close as next year. So, what does the magical world of technology has in store for us in 2018? Here’s a thought on what 2018 may have in store for everyone. Let the vision for the future begin in 3…2…1…
Voice & Visual Searches will Become Even Bigger
Voice and visual search technologies are already available in the market. Augmented reality, voice personal assistants like Siri, artificial intelligence, biometrics authentication, and more are a reality today. These technologies are already present and customers are using it. As more and more businesses redo their websites to accommodate voice and visual searches, they will experience a boost in sales. It is predicted that by the year 2021, websites that accommodate such searches will add 30% in online sales. The voracity with which companies like Amazon and Google are marketing their voice devices (Amazon Echo and Google Home respectively) is only an indication of the things to come. According to an estimate, the market for such voice devices will touch the $3.5 billion mark in 2018.
This is a big one. Five of the seven top tech companies will indulge in self-disruption. Major players like Google, Amazon, Facebook, Alibaba, Baidu, Microsoft, or more will disrupt themselves in order to create new opportunities and arenas of leadership. It is really not a surprise, and it will become a norm moving forward. Today, companies do not know from where the next bout of competition is going to emerge. Without constant experimentation and innovation, big companies can disappear in no time. And that’s already happening. Amazon disrupted its own business model of sending-books-via-mail by introducing Kindle. Apple disrupted iPod using its own phones. The examples are many and this will become a regular thing as technology progresses.
The False Information Epidemic
One of the scariest predictions for 2020 is the epidemic of false information that is going to envelop mature economies. Artificial intelligence can easily create new information or very successfully distort information. It is predicted that before the year 2020, there will be major financial frauds in developed markets, which will be primarily fuelled by prevailing false information. Clearly tech companies will work to develop effective solutions to contain such events. This will also lead to iron-clad laws in developed nations to try and stop the false information epidemic.
Of Banks and Cryptocurrencies
Blockchain based cryptocurrencies are growing and are growing fast. By 2020, banks will be earning over $1 billion in revenues from these virtual currencies. The market for cryptocurrencies is far bigger right now and a billion might sound like a highly pessimistic number. But, a billion is the additional value that the banks are predicted to create by 2020. In the world of our IT Assets, will the currencies eventually be considered and counted in the new operations? That’s a thought to move this conversation into the technology team for consideration for sure.
Marked Change in How Businesses Operate
By 2020, there will be a lot of changes in how tech companies work. AI (artificial intelligence) will become a huge job creator. A total of 2.3 million jobs will flood the market, while eliminating the need for 1.8 million jobs. It is still a net increase. IT staff will also hold a variety of jobs. The interesting part is that their job profiles will be more related to the business side of things rather than being purely technical in nature. That is where the solutions and integration between the business and technology teams like those at RAY ALLEN INC will continue to play an important role for the enterprises of tomorrow.