Successful businesses stay ahead of the curve, which makes it worthwhile to take a look at the predicted trends for the new year. Over the last few years, many of the trends have been moving slowly or seem to be continuously recycled. However, in 2020 you can look forward to new cutting-edge technology to make an appearance. Last year, ongoing digital transformations across many industries went from moderately important to necessary. Now more than ever, it is time to fully embrace digital transformation. One essential thing to not lose sight of is the importance of company culture and customer experience. Continuing to foster a culture of innovation and meaningful relationships with customers will create a stable base for success so that you can focus on the top digital transformation trends for 2020.
1. Investing in Analytics
At this point, it is almost impossible for any company to be competitive without fully using modern analytics tools. If you are not investing in analytics, now is the time before it is too late for your business. The insights obtained from customer data are critically important. In the tech world, analytics capabilities are being consolidated in 2020 for the most efficient real-time processing. To learn more about how analytics can help you drive innovation, view our “What is Continuous Improvement?” webpage.
2. Introduction of 5G
The talk is over, and 5G is set to be released in 2020. Big names in telecommunications, like Qualcomm, AT&T, Verizon, and Nokia, are working to ensure that global 5G deployments stay on track. This technology will bring faster broadband speeds, more reliable mobile networks, and also accelerate advancements in smart city, smart vehicle, smart manufacturing, and other technologies that have been waiting on 5G. The effects of this advancement will be felt far beyond the cellphone industry.
3. Faster WiFi
In addition to 5G, WiFi 6 will be released. This update in conjunction with 5G will bring ultra-fast connectivity to homes and offices everywhere. Download speeds will vastly increase, but the true value of WiFi 6 will be its ability to extend faster data speeds to far more devices. It is predicted that the number of devices connected to a single WiFi network will grow from 10 to 50 over the next few years.
4. Increased Digital Privacy
Privacy concerns are everywhere, and there have been more than a few public privacy failures seen from technology companies. Now, more companies are getting serious about privacy and data security issues. Privacy and transparency will set brands apart. Some companies will continue to secretly mine consumer data, but public tolerance for lack of transparency is continuing to lower. It is likely we will see the ability to opt in or out of data collection more frequently.
5. XaaS (Everything as a Service)
Having anything you need accessible at your fingertips has become a part of our culture, and this has helped XaaS rise in popularity. This movement will continue to gain momentum and go fully mainstream in 2020. Even Hewlett Packard Enterprise announced that they will offer everything in their portfolio as a service by 2022. It is wise to understand this trend now and make preparations as needed.
6. Blockchain Beyond Cryptocurrency
Blockchain was a buzzword in 2019 that yielded few results. This year it is predicted that blockchain will have uses beyond cryptocurrency. Example industries include food safety, intellectual property and royalties, and real estate/asset management. Amazon is integrating blockchain technology with their subscription based blockchain-as-a-service platform.
7. Robotic Process Automation Rebirth
Robotic Process Automation (RPA) is not new, but it has been a hot topic recently at tech and manufacturing conferences. As RPA continues to prove itself as trustworthy, this year might see a growth in RPA investments. Companies like Cisco are currently using RPA to teach new skills to their existing workforce. This will be very helpful for companies preparing for the future of work.
8. Expanding Public Cloud
The business world’s move to the Cloud has been a trend for a while. Now as the public Cloud adoption expands, focus will shift to enabling innovation. Cloud service providers are working on intelligent automation and service capabilities on analytics, AI and machine learning, and customer engagement capabilities. This will provide IT organizations with a way to leverage the Cloud to accelerate these processes rather than build them internally.
With new technology to look forward to and new ideas to discuss, digital transformation does not require you to just throw out all of your old technology and processes. Open communication and collaboration remain core values for a successful business transformation; and with the right platform and program in place to foster these core values, your organization will be prepared to tackle any digital transformation trend in its path—for 2020 and beyond. But the question still remains: how do you stack up against industry peers? Take our State of Corporate Innovation Survey and discover unique insights into the structural approaches to innovation management of leading innovative organizations, as well as the opportunity to learn the winning strategies and success stories behind their innovation activities and processes. Click here to learn more.