Companies are facing massive disruption. Innovation and agility have become paramount for every industry.
According to the Forbes Technology Council, one of the most important disruptors is Artificial Intelligence.
At the center of all the technological trends that will disrupt industries in 2019 is data. Even though last year we created 90% of the world’s data, we’ve only used 1% of it effectively. Machine learning allows for accurate data tracking and helps companies utilise these insights to understand how consumers use products, how to improve them and how to automate specific processes better.
Artificial Intelligence has the potential to disrupt business communication. AI-based devices like voice interfaces can take notes during meetings; virtual assistants organise schedules and record tasks. These devices make video meetings more productive than in-person meetings.
User behaviour is shifting from on-screen interaction to voice interaction. As a consequence, many companies are investing in voice interfaces to offer clients seamless user experiences and to meet the increasing demand fueled by the first interactive intelligent devices, Amazon Echo, Google Home, and Apple Home Pod.
TV and broadband companies have been disrupted by streaming services like Netflix, Hulu or Amazon Prime. However, it won’t be the streaming services that will eliminate TV, but the aggregation and distribution of content through outside sources.
Machine learning helps companies collect and make sense of data fast and accurately. It distils consumer insights that are fundamental for identifying patterns and predicting future behaviour.
In medicine, Machine Learning brings immense value because it allows institutions to collect data that is instrumental in medical research. Big data is used to identify patterns in diseases, to increase the diagnostic accuracy, and to eliminate the need for surgical procedures that can have negative consequences on patients.
In Finance, algorithms lower loan risk with better precision than traditional methods. Users manage their finances better through applications that know their financial history and the available budget.
In 2019, companies will adopt blockchain technology to meet the increasing demand for security and transparency when it comes to how data is stored and used. The encryption method offered by blockchain technologies will be crucial for companies in the financial, investment or medical sector. In a Forbes article, Daniel Newman writes about the Blockchain technology as something that is still under development and not fully understood. There will be at least two to three years until blockchain will start to be used at its full capacity.
In the Deloitte report about the technologies that will disrupt industries in 2019, cloud computing is considered to become indispensable as companies strive to innovate their business models and operations. Even though companies used cloud computing for cost reduction, over the years, factors like increased agility and the democratisation of innovation created an expansion of the cloud’s value proposition: Everything-as-a-service (XaaS). This solution makes it easier to experiment and innovate, and the journey to create a superior customer experience significantly faster.
Another advantage of “everything-as-a-service” simplifies the user access to technologies like AI and IoT-based solutions.
In an article about digital transformation, Alison DeNisco Rayome writes that by 2019, 60% of businesses are expected to run the majority of their IT operation through the cloud.
New payment options
With so many new payment providers like Amazon, Samsung, and Apple, we’ll see an increase in the competition between payment solution providers, which will determine an increase in customer benefits.
In 2019, understanding how AI works will be one of the skills required to understand how the world around us functions. Digital Transformation will continue to change businesses across industries. We may not be able to see the potential of all these technologies right now, but they have the power to impact businesses, societies, the way we work and socialise.