We’re starting July with a trend analysis of technologies – past, present, and future. Why? Because it’s important to know where we’re coming from, so we can make the right moves at the right time moving forward. The last ten years in the technology sector have been groundbreaking with the cloud, internet of things, and mobility, among others. We have started to see the potential of huge technologies like artificial intelligence and machine learning, both of which we’ve had great expectations of for decades due to the imagination of Hollywood and the entertainment industry, but we haven’t seen the full potential those have to offer just yet. So now that we’re halfway through 2019, what can we expect to see for the rest of the year, and into the future?
Deloitte put together this piece covering the trends for the year (the piece is in Spanish but the embedded video is in English), and we’d love to dive deep and share our point of view from the experiential, customer side in regards to what they want to see, and when it will come to life.
In general, Deloitte’s Global & US Chief Technology Officer sees the past ten years in technology as centered around three main principles, rather than the technologies themselves – with the technology trends being cloud, analytics, and the digital experience. The business priorities that these technologies centered around include:
- Core Modernization: another name for digital transformation or automation, where we take existing business infrastructures and get them ready for the innovations coming as a result of customer needs.
- Risk: we’re living in the era of cloud and digital, and that comes with its share of risks. For the past decade, the conversation has centered around whether information is truly safe, privacy, encryptions, etc. and now we’re moving towards a more strategic pre-issue conversation.
- Business of IT: every thriving business right now has a strong focus on tech advances and leveraging them to remain at the forefront of innovation. Companies are navigating unchartered territories trying to achieve unprecedented milestones and attempting to do less with more as budgets are reduced, and every manager is expecting more results with less resources.
These pillars have been at the center of the conversation for the past 10 years, but they’re not going anywhere for now. We will continue to talk about digitalization, data security and innovation, but things are taking a shift due to the trends of what we’re expecting for the next five years:
- Blockchain: blockchain technology comes as if to directly address the concerns of data privacy and security, especially for transactions. In an era when huge companies are being hacked and millions of data records have been compromised, this technology will continue to grow in adoption rate to protect customers at all costs.
- Cognitive: how do you move forward when you’re asked to do less with more? You need to leverage what you already have. The cognitive aspect of business means that now that businesses have years and maybe even decades of data, it’s time to not only pull insights, but to bet on predictive and improve on stock operations, sales cycles, etc. by leveraging all the knowledge that we have collected thus far. Studying the past holds the key to unlocking the future.
- Digital Reality: with the cognitive component and adding the digital reality (virtual and augmented realities) to businesses, we’ve reached our favorite topic: IPA or Intelligent Process Automation. We will be champions of this area because we believe in its potential. If your business moves into IPA, the future is yours.
There are many other technologies that are up and coming on the trends department like 5G (with existing use cases in the UK and New York already), but it all comes down to the three areas we discussed, and we’d like to know your story. Is your company ready to step into the next five years of innovation and technology? Tell us about your digital project, and we’ll show you how Lagash can be the catalyst for your transformation to start 2020 on the right foot.