The IT industry has experienced many changes in the last few years, and it will continue to do so at a faster pace. Upcoming technologies in the IT industry look to satisfy the changing needs and wants of users. Hence, IT and business leaders will have to work together to decide their next technology investment.
Listed below are the top trending and latest technologies in the IT industry that have the capacity to boost business performance.
1. Artificial Intelligence (AI)
Artificial Intelligence (AI) is an ongoing trending technology that focuses on simulating human intelligence with smart machines. This allows companies to use chatbots, recommendation algorithms, speech recognition and more in their day-to-day activities.
In the upcoming years, artificial intelligence will become a necessity for companies of all sizes and industries. Some industries may take longer to adopt AI into their key and support processes. However, industries such as transportation, media, education, healthcare, manufacturing and customer service are already benefiting from it.
Businesses should take into consideration the key processes where they can incorporate AI solutions. As a result, they can improve productivity, enhance user experiences, and make better business decisions.
2. Internet of Things (IoT)
Another ongoing trending technology is Internet of Things (IoT), which describes the network created by connecting technological devices to the internet and each other. This allows a powerful exchange of data with other devices and systems, which help businesses make more informed decisions.
IoT solutions provide valuable data obtained from consumers in real-time. Insights are then used to optimize product design, maintenance plans, user digital experience and marketing campaigns. Because of the massive network of connected devices, IoT allows for more in-depth data collection.
Blockchain is a powerful technology that stores transactional records or data, without the possibility of being changed or corrupted. Transparency and security are two of the main benefits of using this technology. Currently used mainly for cryptocurrencies, Blockchain can be applied in supply chain management, financial services, transportation services and more.
Every transaction creates a block of data that is connected to the previous one. Each block has a timestamp, and cannot be deleted. This allows for full transparency on transactions. For example, companies may use blockchain technology to traceback materials, products and records. The applications are endless, and businesses should take advantage of this technology to improve security, efficiency and speed.
4. Virtual Reality (VR) and Augmented Reality (AR)
Virtual Reality (VR) can deliver a fully immersive experience to the user based on only virtual information. Meanwhile, Augmented Reality (AR) adds computer generated elements that enhance the user’s view of the real world. Both of these technologies are very popular in video games. However, they can be useful for educational purposes, marketing, entertainment, fashion, design, and more.
Adopting technologies like VR and AR can actually help create interactive and valuable experiences for potential customers. Businesses can use these technologies to improve their products or services and customer satisfaction.
5. Cloud Computing
Cloud Computing is the technology that allows storing and accessing data over the internet. Most businesses have already incorporated this technology, leaving behind local servers with the goal of having better flexibility, performance and scalability.
Nowadays, companies can access their data and applications faster and easier than ever thanks to cloud computing. From small businesses to multinational corporations, the use of cloud computing is cost-effective, as companies only pay for what they need and use.
New technologies are emerging every year, with some evolving or even dying. These innovative IT technologies have applications in many industries, no matter the company size. Hence, business and IT leaders should work together to make the necessary technology investments that align with business goals.