New technology is not good or evil in and of itself. It's all about how people choose to use it - David Wong
The landscape of technology keeps evolving with the introduction of advanced tools every now and then which is responsible for transforming the way in which industries operate. Interactive technological advancements have become the major driving force behind the success of any business.
Organizations need to hire reputed outsourced developers who help them in building reliable and scalable software solutions to streamline their complex processes and workflow. Forrester compiled 15 emerging technologies which will have the biggest impact on businesses in the coming years. These technologies include Artificial Intelligence (AI), IoT, AR/VR, Voice, etc. that are blessed with the power to make the world even faster and connected.
But how to ensure that these advanced tools are helping programmers to build better software products for entrepreneurs? Let's look at a few of the major ways in which developers are exploiting these technologies to let your business survive the intense competition in 2019 and years beyond that.
Blockchain: A Tool To facilitate Complete Transparency
As per Statista, the market for global blockchain technology is anticipated to evolve at a rapid rate and reach 2.3 billion U.S. dollars in 2021 which is amazing growth in comparison to 339.5 million U.S. dollars in 2016.
Programmers are creating blockchain solutions in order to provide businesses with 100% transparency in transactions especially to sectors such as banking, manufacturing, healthcare, real estate, legal, etc. Moreover, this technology allows developers to create solutions with which companies can safely transact with third parties without any mediators.
Blockchain products are used to stop data breaches, simplify complex management processes, and minimize costs for businesses. It's expected that this advanced technology will soon impact other verticals of the industry such as supply chain and administration with modern tools that can streamline the entire workflow and increase productivity.
Artificial Intelligence (AL) & Machine Learning (ML): Twins That Create Intelligent Software Systems & Virtual Assistants
AI, ML, and data analytics are working in harmony which is making data scientists and AI developers the new hero of the digital era. These technologies work with advanced algorithms and models which help programmers create a strategic roadmap and build highly reliable AI-powered solutions.
These products have the potential to automate complex business processes, maximize operational efficiency, save time, enhance productivity, and offer real-time support so that business managers can increase their profit margins.
To our surprise, a massive amount of data gets produced every day. But it's impossible to gather and analyze this much data manually. Therefore, developers use data analytics and ML to study market trends and empower entrepreneurs with efficient tools that can help them in formulating future strategies in order to serve customers in a better manner.
In order to provide entrepreneurs with the essential insights into customers and market trends, programmers are leveraging ML in combination with Augmented Analytics which is a subset of data analytics. This technique makes it easier to collect, organize, manage, and analyze a huge amount of data with the help of better tools and algorithms.
Moreover, AI programmers also use other technologies like natural language processing (NLP), deep learning, and neural networks for creating smart systems that are trained to perform specific functions by analyzing powerful datasets.
Smart Robots & Chatbots That Perform Monotonous Jobs & Provide Efficient Customer Support
AI is facilitating the development of robotic solutions that can perform tedious tasks and allow professionals to concentrate on more important issues. Also, there are voice/virtual assistants or intelligent bots that provide customers with instant support and have become one of the most integral customer service and marketing tools for entrepreneurs.
As per research, the estimated number of people using virtual assistants across the globe is expected to reach 1.8 billion by 2021. Amazon Alexa, Apple's Siri, Microsoft’s Cortana, and Hipmunk’s Hello chatbots are a few of the most popular innovations in the realm of AI.
These advanced tools are blessed with an intuitive interface and built by experienced programmers to work with algorithms and provide end users with real-time information and support.
Virtual Reality (VR), Augmented Reality (AR), & Mixed Reality (MR): Shaping The Future Of Immersive Experience
VR, AR, and MR are the three integral technologies that are letting developers build software solutions that have the power to provide customers with immersive experiences. Nowadays, there are several tools and platforms available in the marketplace which entrepreneurs are using to enhance the way in which customers interact with their products or services.
Tango is such an AR platform built by Google which works with 3D mapping that allows app developers to create seamless user experiences. These advanced technologies allow programmers to build environments that facilitate pervasive settings. Also, these tools help managers to strengthen remote participation and virtual business training sessions.
Oculus Virtual Speech is a VR platform that helps professionals to sharpen their public speaking skills in a virtual setting. Similarly, eBay and Amazon have developed their own virtual solutions to enhance the shopping experience for their customers. Such systems help these brands in streamlining their funnel and building a sales pipeline with quality leads that can be easily converted.
IoT: An Opportunity To Establish Seamless Interconnectivity
IoT has become an exciting territory to explore and soon it can come into the mainstream. It allows developers to build interconnected environments with different systems linked to each other with technology for delivering efficient customer interactions and impeccable experiences. Nest Smart Home is an IoT-powered app that allows users to keep an eye on each of their IoT devices at home.
Moreover, this technology is also used for creating innovative solutions for entrepreneurs so that they can gather and analyze the precise data and make well-informed business decisions. Also, these solutions help them in ensuring a high level of security to keep their ideas intact. Brands like Airbus, General Alert, Harbirk, GMT, and SABIC are deploying this technology in order to improve their processes.
IoT & AI are also getting used to creating event-driven apps that have the potential to act in response to actions produced by the user. Such apps are highly flexible and responsive that can provide users with a much better experience.
Big Data: A Technique To Organize & Analyze Unstructured Datasets For Producing Real-Time Insights
Big data experts have the knack of working with tools efficient to collect, arrange, analyze massive unstructured datasets. It allows them to create solutions that offer real-time insights to businesses and help them in decision making.
Industry giants, as well as SMBs, are using this technology to build systems that can provide them with the right information which can be used to acquire new clients, exploring new markets, and boosting sales.
Starbucks was one of the first key players in the industry that leverage Big Data in order to recognize customer behaviour, demographic trends, and foot traffic patterns to simplify decision making and introduce multiple outlets in the same vicinity without hurting the traffic to the existing store.
Cloud Computing, Facial recognition, & Biometrics: To Fight Against Security Threats
Security of customer data is one of the major priorities for the business. Programmers are deploying cloud computing technology which helps entrepreneurs move all their data to the cloud and keep it safely in a centralized repository. Also, it makes the data 24*7 accessible to authorized professionals. Office 365 is a SaaS cloud computing platform built by Microsoft to provide users with seamless subscription services.
In addition to cloud computing, facial recognition and biometrics are also two advanced technologies that allow businesses to build secure products for their end users with robust verifying mechanisms. The first one verifies a person's identity with the help of his face while the second uses his iris or fingerprint to serve the same purpose. DeepFace and FaceNet are two of the most popular recognition systems developed by giants like Facebook and Google respectively.
Advanced tech tools can be the best way to let programmers craft highly scalable and efficient software products which can prove to be the lifesaver for businesses. Just there's a need to find the right development partner who can build solutions in accordance with your specific business requirements that can add value to your brand and bring in more customers.