The year 2020 will witness the rise of the 4th Industrial Revolution. Evolving technologies enable faster change and progress; causing an acceleration of the rate of change until it will eventually become exponential.
Innovation is advancing quicker than ever. Companies and individuals need to be in pace with the advancing technologies to overcome the risk of getting abandoned. Here are four technology trends you should watch for in 2020.
AI as a Service
Artificial intelligence or AI is one of the most transformative Tech Evolutions of all time. But Designing and deploying an AI-based system can be an expensive proposition for most businesses. Cost reduction can be achieved using cloud services. The Cloud service companies provide API and services that can be consumed without the need for creating custom machine learning models.
For this reason, much of the AI-based applications will continue to be done through Cloud and AI service providers that provide the option to simply feed the data and pay for the algorithms or compute resources as a company uses them.
Generative design uses Artificial Intelligence (AI) software and the computing power of the cloud in order to redesign and create solutions that would never have been conceived by the human mind. Generative design is an evolution in the designing industry as it can create optimized design ideas just by feeding the design parameters.
Generative design has been used to design everyday objects, as well as it helped to solve larger engineering feats such as; Airbus used generative design in its A320 aircraft to redesign an interior partition. This technology and human combination helped to shave off 45 % of the weight of the parts.
- 77% of fintech firms expect to adopt Blockchain as a part of an in-production system or process by 2020 as stated by PWC.
- According to Gartner; by 2025 the business value added by blockchain will grow to slightly more than $176 billion, then surge to exceed $3.1 trillion by 2030.
Blockchain has the most significant potential to digitally transform businesses especially for the financial institutes. While prevalent in only a handful of industries right now, by the end of 2020 the world will see its mass adoption. In the year 2020, we might see the launch of Facebook’s own blockchain-based crypto currency Libra, which will create quite a stir.
The concept for digital twins has existed for quite some time, with the adoption of the Internet of Things (IoT) makes digital twins affordable. Digital twin’s uses data and algorithms instead of materials to create virtual replica of the things that exist in the physical world. Digital Twins technology was also mentioned in the Gartner’s list of top 10 technologies.
If you haven’t started your search to digitally transform your business growth, then get connected to PureSoftware. Our customer-centric approach and flexible processes create engagement models and deliver digital services that “drive cost and time reduction” in projects while maintaining the highest software engineering standards.