Top Adored IT Trends Businesses Can't Think of Avoiding in 2020

Modern technology has changed the world and has provided more convenience to mankind. Businesses need to pay attention to the latest technology to keep up with the growing trend and leverage competitive edges in their field. According to a recent Statista report, IT spending globally has amounted to around 3.74 trillion U.S. dollars in 2019. This data is enough to prove that more and more businesses are investing in modern technology to leverage various advantages for their business.

And if as a business entrepreneur, if you fail to keep up with the new trend and technology, then it's sure your competitors can beat you punch of failure and move ahead in the race. Thus make sure that you keep up with current changes, it can help you to satisfy all the needs of your prospective customers in real-time, improve business sales, and much more.

Latest Technology Trends to Consider for Your Business

Businesses need to understand the importance of key trends as it can help them to prepare themselves for the future and grasp various opportunities for their business. If you fail to understand its importance of technological trends that your competitors might be using in conversation, then it becomes much harder for you to become a part of that conversation. There are a few of the IT trends which you need to consider for staying ahead in the race and reaching more customers.

Artificial Intelligence

This technology has created a huge buzz in the business market these days. The global artificial intelligence software market is expected to jump high and expected to reach around 118.6 billion by 2025. More and more businesses have started leveraging the use of artificial intelligence, it helps them to predict various issues for their business so that they can find an effective way to overcome them and make their business ready for the future.

According to Markets and Markets research, the AI market is expected to grow from $16.06 billion in 2017 to more than $190.61 billion by 2025. With the help of AI, businesses are accessing data that help to know what their prospective customers want from them and how they can satisfy all their needs in real-time. While Gartner predicts that 40% of new applications will be developed using artificial intelligence technology.

Businesses use virtual assistants and chatbots technology to deal with their customers and provide more effective service to them. They hire developers to help them with involving the latest technology like a chatbot for their business website or application. AI-driven tools possess great potential, which helps to identify effective business strategies which in making even more perfect decisions in the future.

Internet of Things (IoT)

The Internet of Things (IoT) is one among other technology which has created a huge buzz in the market. Its popularity has grown dramatically, and applications developed using this technology have become more tangible than ever before. This latest technology is not only connecting different systems but also boosting the quality of lives we are living, not only that it is also helping society by providing more convenience to them whenever they demand.

All the potential elements of IoT are correlated with the traditional perception of reality, thus more and more customers have started using the IoT enabled device in their day to day life. The number of connecting devices is expected to become a new trend its number will grow rapidly by 2020. Recent report represents that the total installed base of the Internet of Things (IoT) connected devices is amounted to reach around 75.44 billion worldwide by 2025. (Source)

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While another McKinsey report represents that the potential economic impact of IoT might be equivalent to 11% worldwide by the year 2025. There are numerous ideas and solutions which are here to upgrade business standards, thus businesses need to consider the latest technology like IoT for their business if they really want to keep up with the going trend.

Blockchain

Blockchain can be considered as the trendiest trend that is expected to grow in the upcoming years. Bitcoin value increased from $1000 to $20000 in 2017, Bitcoin saw massive price increment of $14000 while it's value decreased by $8000 in November. Besides this, blockchain technology poses significant potential in providing an effective trust model for banking, government, and many other organizations. (Source)

Blockchain helps to keep a systematic record of each transaction, which is done using Bitcoin as a currency. By managing and maintaining these transparent records, businesses can easily win the trust of their prospective customers and can convey them to become a part of the fundamental structure of bitcoin.

Bitcoin can be considered as one of the best examples of blockchain technology, in the past few years, many of the entrepreneurs have entered a cryptocurrency market to leverage many advantages offered by it and also to provide completely digital experience to their targeted customers.

Voice Technology

Nowadays, users prefer to perform all their searches through voice technology. It allows them to interact with machines and helps them encompass their views about computer keywords, monitors, digital dashboards, and much more systematically and easily.

The use of voice technology has increased a lot in recent years after the advent of Siri, Google Assistant, and Amazon Alexa. According to the report, more than 50% of searches will be performed through voice searches by the end of 2020.

It is expected that verbal innovations like Alexa and Google Assistant are expected to grow more in the nearby future. Hence it becomes important for businesses to consider it for their business as it will help them to reach more and more customers worldwide. It will even reduce the chances of errors, and it will also improve the way of interaction with customers.

Ending Note

Besides the above-listed tech trends, there are some more which businesses have to consider. This modern technology will not only help to meet all the needs of the business but will also help businesses to keep up with the current market.

Technology also allows them with various benefits, it makes it quite easy for them to know what their customers exactly want from them, which tactic must be adopted by them to fulfill all the demands of their targeted customers, and much more.