Top Trends for Businesses in 2020

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With every waking day, we find out that some new technology has been introduced into the market that can potentially change the world, as we know it. There have been many advancements that have truly transformed the way we do things. These revolutions have come into every aspect of our lives, like personal lives, social, and work lives. The same is true for the industry. Almost every industry that we look at has been transformed by the technology, whether it is agriculture, construction, marketing, manufacturing or any other industry that you look at. This advancement is happening at a very fast pace, and only the businesses and individuals that keep up with it have a chance of survival in the future.

Don’t Get Left Behind

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As a business owner, you definitely don’t want to be left behind while your competitors move forward into the limelight and capture all the business. The key to keeping abreast of all that is happening around the world with respect to technology is to keep an eye on the rising trends. Understanding these trends can really help you move your business into the future and onto a solid platform.

There are a lot of opportunities to be had if you have a keen eye for upcoming trends and know how to manipulate them into creating opportunities for you and your businesses. You can do it yourself, or you can follow the tech experts and futurists that have taken up the job of predicting the future of technology and its impact on various businesses. One of the things that most businessmen fear is the cost of continuously updating their business. This is a genuine concern, but there are options for you that you can use to keep yourself and your business integrated with the latest technology like Fastcapital360 and others. Secure loans for your company and make sure that you are on top of your game at all times.

Here are some of the most vital trends that you should know about in 2020.

AI-as-a-service

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One of the most prominent and most vital technologies to hit the market in our times is Artificial intelligence. It has really transformed the scenario with regards to a lot of industries. A lot of companies are already on the bandwagon and are trying to use artificial intelligence to their advantage. AI can help you with various tasks, like improving your customers’ experience and streamlining your daily business activities. And this is just the beginning.

The more we move forward, the more opportunities we get from AI. But the one problem with AI that almost every business faces is its huge cost. It is still not up to the level where everyone can afford it. That is why AI as a service is on the rise. You can contact any of the various providers of AI like Greycampus, and they will allow you to just enter your data into their cloud-based systems and choose the algorithm that you want to use, or make one for yourself and just pay for the resources.

This way, you won’t be burdened with the cost of actually having AI in your office, but will be able to afford the activities that you want to use. Right now, only a handful of companies are offering these services like Google, Amazon, and Microsoft, but as we move forward, we will see more companies get in on the game, and the opportunities will increase. You will also start finding more services that offer tailor-made services for specialized tasks.

5G data networks

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The other trend that is quickly on the rise and is set to leave its mark on the world is that of 5G. The 5th generation of internet connectivity is here, and it is offering a host of services like ultra-fast speed, download and upload, and better and more stable connections. Although this technology has been a part of the scene since 2019, at that time, it was still very costly and covered only a limited area. As more time passes, 5G will be introduced around the world, and more affordable plans will be presented. This will greatly improve coverage around the globe and business will be able to benefit from 5G.

With 5G, people will be able to communicate and use the internet at higher speed and better quality than ever before. This is also beneficial for mobile access as it will become faster and more reliable than the wired connections that we currently have. This speed and reliability will directly affect the business operations as well as customer handling. The business will be able to handle more data, and other technologies like IoT will thrive.

Autonomous Driving

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Self-driving cars have already entered the market, and a lot of companies are testing them around the world. They are still not at the stage where you can easily travel in one or even observe one in action, but there has been a lot of excitement and thrill around this technology, and that is just going to increase. Even if completely self-automated cars are not in the near future, there will be an advancement in the number of vehicles that offer a lesser degree of autonomy.

This will include vehicles that will automatically brake if there is a sudden hurdle in the path or vehicles that can change lanes, among others. Other autonomous elements in the vehicles will be those that are not directly related to the actual driving. These are the security features of the cars as well as the entertainment features. Recently Waymo, a sister company of Google, launched a trial of taxis that were fully autonomous and in just one month, they reported transporting more than 6000 people to and from various places safely and in a timely manner.

Don’t think that this technology will be restricted to cars alone. In the future, expect to see big rigs, trucks, and even shipping become autonomous to a certain degree if not completely automatic. The more this happens, the more excitement it will generate and the businesses that are or can integrate this technology will be on an upward arc.

Extended Reality

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Extended reality or XR as it is called, is an umbrella term that encompasses all technologies related to an immersive experience. These experiences include Virtual Reality (VR), Augmented Reality (AR) and Mixed reality. With virtual reality, you can offer a completely immersive experience to your customers and others, digitally. Using the latest headsets and remotes or gaming consoles, you can enter a different world. It could be a fantasy world, or it could be real-life scenarios.

Augmented reality offers a different experience to its users. It basically layers real-life objects with digital objects so that when you use your mobile phone or any other handheld device, you will start seeing things that aren’t there. A good example of this is Snapchat and the various filters that they offer.  Mixed reality is a lot like augmented reality in that it can allow a user to interact with a digital object that has been layered on top of the real object. You can think about someone playing a digitally created piano placed in a real room by using a headset.

Up till a few years ago, these technologies were mostly in the use of the entertainment industry, but lately, they have burst out and made their way into almost every industry imaginable. This includes manufacturing, construction, shopping, and more.

Conclusion

As a business owner, you have to keep your eyes peeled for the latest and state of the art technology so that you can use it to your advantage and propel your business forward. As far as 2020 is concerned, these are the top five technology trends that you need to understand and integrate with your business for better results and long term boost.

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