Technology Trends for Businesses in 2020

What does this year hold for companies and what technology trends should you be aware of? Here are some of the most important technology trends that we believe will make a difference for businesses this year. 

 

Practical blockchain

While blockchain has been around for a few years, the technology’s commercial deployment and scalability is slow. Blockchain has the potential to reshape industries by creating more trust and transparency in supply chains and in money transactions, lowering fees, shortening transaction processing times and more.

In particular, experts assume that with the start of the integration of complementary technologies such as artificial intelligence and IoT, blockchain will see enormous growth in companies.

 

Hyper-automation

Hyper-automation takes automation to the next level. It is the use of advanced technologies such as artificial intelligence (AI) and machine learning (ML) to automate processes (not just tasks) in a way that is much more effective than traditional automation functions.

Hyper-automation requires a combination of tools that help replicate tasks that involve people. This trend started with Robotic Process Automation (RPA), but will increase through the combination of process intelligence, content intelligence, AI and other innovative technologies.

 

IoV – Internet of Voice

The Internet of Voice is gaining ground and will lead to far-reaching changes! Some experts compare the topic of “Voice” with the invention of the Internet.

Yes, there are always some exaggerated expectations and hype. However, there is also no doubt that the Internet has changed our lives forever, permanently transforming our search for information and communication behavior. Could voice technologies and voice assistants have the same impact?

There are many indications that the Internet of Voice will be similarly revolutionary. Here are some fundamental effects of the Internet of Voice:

• Users carry out search requests by voice (voice search).
• Customers get real-time answers without having to work through multiple search results.
• Most search queries are made without a screen, the answer can only be given by voice or in combination with calling up media on a connected screen.
• In the case of simple informational queries, users receive a single, concrete answer (e.g. “Alexa, what is blockchain?”).
• Users can make purchases with a simple voice command.

These are just a few of the many changes we will see through voice assistants. However, one thing is clear, the Internet of Voice is coming and first movers will have an advantage as always.

 

Chatbots, voice assistants and AI,
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Artificial intelligence & data modeling

If you take a look at the predictions, you can clearly see that great expectations will still be placed on the topic of artificial intelligence in 2020. Improvements in natural language processing as well as in data analysis and automation are expected.

Especially in customer service and marketing automation, the challenge of making collected data machine-readable without restriction is omnipresent. Knowledge graphs support the preparation and modeling of data and will play an important role here. Publicly available knowledge graphs will also help to access a wide range of content and, accordingly, to better understand data, tasks and interactions.

To learn more about Knowledge Graphs and how they impact Conversational AI – check out our whitepaper. 

 

The uses of AI are almost limitless, so this technology can affect all areas of the company.