2017 has been a significant year for digital transformation. Machine learning, AI and Big Data are some of the dominant technologies in 2017. Advances and improvements in these technologies will continue in the coming years, but what can we expect for the IT industry in 2018? Will AI be proven to be the creator or destroyer of jobs? Will global technology giants have to self-break to shape the new leadership opportunity? Will 2018 be a slow death for computer specialists?
Today, technological innovations are coming faster than most companies can handle. Too often, before an innovation is accepted and implemented, two more appear on the horizon. To cope with these endless innovations, CIOs in companies need to achieve and surpass the role of a business strategist first and foremost as a technologist, thus developing the right pace for digital transformation.
Innovation and progress rates will not slow down in 2018. That’s why we’ve put together some effective technology forecasts for 2018 to see and plan for:
Prediction 1: Global technology giants will deliberately disrupt
Global technology giants like Amazon, Facebook, Apple, Google, Microsoft, Alibaba, Baidu have brought innovations by exploring hitherto unexplored options such as conversation-UX, Chatbots, and voice and visual search. Eventually, their impact has increased so much that it is now difficult to find new outdoor areas to renovate. Thus, these technology giants could potentially disrupt their revenue bases to create new opportunities.
For example, the launch of Apple’s latest face-to-face ID is a touchscreen ID and AWS lambda compared to the usual cloud virtual machines, an example of the tech giant’s self-breach.
Prediction 2: Blockchain-based cryptocurrency will bring trillion-dollar business value to the banking industry
According to the CNBC report, the total value of all digital currencies (about 1,300 different cryptocurrencies) combined is more than $ 588 billion with bitcoin dominating the market. This value of market capital will cross $ 1 trillion in the face of growing market interest. Blockchain technology has a real place in the future of technology, regardless of the price of Bitcoins.
Prediction # 3: Rise in the roles of computer multifaceted
It is projected that in 2018, around the world, the IT sector is expected to have a huge turnaround, where it will add 1,00,000 new job profiles while removing only 80,000. The creation of AI-related jobs will net 2 million new jobs.
Today, IT specialists make up about 42% of the total IT workforce. According to Gartner, in the coming years, 40% of IT staff will be computer-adaptable, and we would see a drop of more than 5% in the hiring of technical IT specialists. The role of changing IT would be to be a business strategist, rather than a technologist, scaling a company’s digital business.
Forecast 4: Increase digital commerce to support visual and voice search for brands that innovate websites
Visual and voice search is transforming users’ engagement with digital channels. With the emergence of voice assistants like Alexa, Google Assistant, and Siri, voice search queries are the majority for the growing type of mobile search. Visual search, on the other hand, provides more accuracy in a search because an image speaks more than a thousand words.
The huge investments that technology giants like Apple, Google, Facebook, Microsoft are making in machine learning and AI would be evident as they accelerate their voice and visual searches in the coming years.
Prediction 5: Increase investment in bots and chat bots by eliminating mobile apps
Boots and chat bots are new aspects of AI. User attention is shifting from individual mobile apps that companies have to bots and chat bots. By 2022, more than 60% of all large companies are expected to deploy at least one Chat bot. Proper use of virtual assistants will increase customer engagement and can automate different tasks to free staff.
Accelerated improvements in Natural Language Processing allow current chatbots to better interpret the user’s intent than previous generations.
Forecast 6: Open source will continue to rise
A decade ago, Linux was in its infancy, while it is now dominant. In the early days, Google, Amazon, and Microsoft were forced to create their own tools because they did not have the software to meet their needs. Many open source frameworks are forming an integral part of the developers’ workflow. So this paradigm shift is changing what companies are investing in. Making open source software the biggest competitor to traditional software.
Forecast # 7: Convert IoT to BIOT
Combining IoT with Blockchain is expected to be a powerful mix of IT this year, where it will bring many new businesses and services. By implementing BIoT, real-time updates to the various sensors embedded in the products will allow all distributed strings to share views that they could not have previously received.
2018 will also include developments in 5G connectivity, AI-driven IT security, wireless charging and ARM-powered laptops. However, these technologies can help us better connect and communicate with our audience, but they have the potential to change the way we live and interact.
The article first appeared in Cygnet Infotech.