With technology rapidly evolving, businesses need to keep track of the latest trends and implement them prudently to achieve transformation and a competitive advantage. Here are the technology trends reshaping business transformations across the globe.

 

 

Artificial Intelligence (AI) and Machine Learning (ML) encompasses the application of human-intelligence powered software into various industries, including Automated Companies, financial markets, business operations, governance, law, research, education, healthcare and games. It gathers and analyses data, seeking out patterns to automate tasks, drive decisions, and streamline processes across all verticals. Some examples include using predictive analytics to anticipate future events that have not yet occurred, yet automated systems can predict based past data patterns, while intelligent (deep learning) automation can make decisions based on data analysis, such as fraud alerts or sharing test results.

 

 

Cloud computing remains a disruptive force for all types of firms. By scaling up or down, customizing and lowering costs, the cloud gives organizations the chance to innovate faster and more affordably. Migration to and optimization of the cloud ensure that firms capture the opportunities for faster time to market, greater collaboration and access to data. 

 

 

As criminals increasingly use advanced software attacks to exploit networks, the role of sound cybersecurity cannot be underestimated. It is the only way companies can continue to protect their intellectual property and maintain their customers’ trust. Industry analysts such as Gartner predict that all elements of a robust cybersecurity solution will be critical, both now and in the future: threat detection, risk management and incident response represent how companies can secure their entire system and data against ever evolving threats.

 

 

It is no longer a choice. Companies must now transform digitally to effectively compete and survive in this industry. A digital transformation is about radically changing how a business operates in what is known as the digital-first world. This means introducing new processes, new business models and new opportunities for engaging with customers. Embedding the latest technologies and automating existing processes can help companies become more efficient. It can also improve customer experience for digital-savvy clients and competitors.

 

 

As a result of the Internet of Things (IoT), more and more things and systems are being connected which will provide businesses with unprecedented insights and control. Caterpillar tractor IoT deployment, among others, support smart factories and connected healthcare, but logistics and supply chain management are becoming the brightest areas of IoT. Implementing IoT vision promises more efficiency, cost reduction and opening new revenue channels.

 

 

Since Bitcoin was released in 2009, blockchain technology has been integrated in different applications independently of cryptocurrencies. In this context, blockchain technology has been used to promote transparency in transactions, serve strategic objectives and improve operational integrity, such as in the area of supply chain management, security in transactions, or protecting digital identity.

 

 

In addition to the trends themselves, a culture of innovation is needed to capitalize on these developments. Training, collaboration, and a general enthusiasm for innovation need to be fostered.

 

 

Understanding and capitalizing on technology trends can be challenging. That’s where we excel at Altruas. We help businesses stay on top of technology trends and transform for the digital age. Contact us to find out how we can enable your organization to use these key technology trends to navigate impactful business transformations.