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Trending Technology in 2020

Artificial Intelligence. Blockchain. Augmented Reality and Virtual Reality. Cognitive Cloud Computing

Technology is playing a big role in shaping our future, considering how far we have come thanks to it. These technologies are giving us immense power to do things we couldn’t in the past. With everyday passing by, the human race is more and more dependent on technology, be it smartphones, artificial intelligence or anything the Internet facilitates. Machines and technology have changed our lives and will continue to bring interesting developments in the near future.

Are you a tech geek? A business owner? Do you know how technology effects marketing? Are you constantly looking for solutions to make your processes easier? Well, then you need to be well versed with these upcoming technology trends. As this is the era of digitization, we must know about current and upcoming trends in technology. Businesses and individuals are already implementing these trends in daily life to stay ahead of the competition.

Here are some of the most interesting current and upcoming future trends in technology:

Artificial intelligence

The coming decade will see the rise of artificial intelligence when machines would have taken over humans. By this, we mean the simplification of processes that were earlier carried out by human beings. For example, chatbots. Artificial intelligence will play a big role in the marketing domain.

In simple terms, artificial intelligence is nothing but the development and efficiency of machines to perform humanly tasks and that too with little room for errors. The usage of artificial intelligence is visible in almost every industry. Businesses are now leveraging its power to make AI driven processes more efficient.

There are many examples to quote the application of artificial intelligence like Apple’s voice-powered personal assistant Siri and the self-driving cars that are helping simplifying tasks.

Blockchain

Are you one of those who is curious about the hottest trends? Then you've most probably come across the term “Blockchain”. But how many of you actually understand the term in its true sense?

To put it in simple words, it is like having a digital safe which has its unique identity number to identify it. Anyone can put any amount, and can see the amount in the account. Although, when money is transferred to an account, your identity is concealed. Only your unique identity safe number is known.

As explained by a Blockchain expert, the concept is similar to that of a word file. When user A is working on a word file it cannot be accessed by any other user as it is locked for editing by user A. So, basically two users cannot access the same word file simultaneously. With Blockchain platform the access to a file is not limited to a single user. No single user has the complete control of the document. As for businesses, this technology can simply exclude the need for middleman whether it's a transaction for advertisement or any other service.

Blockchain technology is making the digital assets more secure and feasible, by removing the middleman in a financial transaction. A private key cryptography gives the possession of ownership, sparing the person of sharing more personal information which becomes an opportunity for hackers.

Big data

Every internet user who avails the Internet for gathering information knows that on a single day, data is generated and promoted in millions and has different sources of origin. That counts for a huge number! So how do organizations know whether the data is appropriate for their audience or not.

Big data refers to a huge volume of data that might be belonging to various domains and is complex. So whether your organization deals with healthcare or manufacturing, big data plays an important role in every possible industry. It is definitely a huge bargain in the marketing domain.

Why is big data needed for better marketing campaigns? Because it enables you to explore deep insight into the data and risk associated with it. This in turn helps the organizations and marketers market themselves appropriately. This future technology trend is definitely taking the world by the storm.

Augmented reality

The popularity of augmented reality cannot be overlooked! In simpler terms, augmented reality is the addition of virtual effects in the real time situation of a user, enhancing real time presence.

Snapchat users out there, all the filters you have been using are available thanks to this technology! The latest one being where an animated character comes to life in the virtual world! An example of this technology is Google glass. Another popular by product of this technology is a game called PokemonGo.

To brief you on the difference between augmented reality and virtual reality, augmented reality adds virtual effects to the current reality, without changing our real time situation. On the other hand, using virtual reality supported gears enables you to experience reality that is not real. You could be sitting in your office and be on top of Mount Everest! However, virtual reality only changes the state of real time.

Virtual reality

Have you ever thought of something that you cannot do? Maybe something like swimming with a shark or running as fast as a bullet train? Well this paves the way for virtual reality and is something we believe will take the market by the storm. Virtual reality means experiencing things that do not exist in reality, but exist in the virtual world.

In literal terms it means seeing and experiencing anything, anywhere and anytime! With this technology at our disposal, we can practically touch anything anywhere. A good example that showcases the effectiveness of this technology is Facebook’s Oculus, which makes anything look possible. It makes possible to play games in the virtual world, giving 360 degree experience, and basically giving the control in your hands.

IoT (Internet of things)

If you’re well versed with the happening around the world, we’re sure you’ve heard of IoT – the Internet of Things. IOT is bound to transform our lives by simplifying tasks for humans. According to a recent report by Cisco, IOT will generate $14.4 trillion in value covering all industries. Business owners are looking forward to the IOT as a great opportunity to get deeper insights into consumer psychology and the process of buying.

It is basically a network of physical devices, digital machines and other objects that allows for a smooth transfer of data over the network without any real time interaction. For example, Nest, a smart thermostat studies your family routines and adjust the temperature based on it when you are even away. Have you heard about smart homes? With IOT, users sitting far from home can manage their homes through the Internet. August smart lock is another example that displays the effectiveness of IOT, you don’t need real time keys anymore, all the control to your door lies on your phone.

The future trends in technologies are taking the market by a wave. And as we have seen in the past, technology has facilitated greater marketing techniques! Therefore, it becomes important to stay updated about the prevalent trends in marketing!