Gartner 2017 Symposium/ITxpo in Orlando, Florida tapped on a wide unexplored digital world. The bottom line lies around how immersive experience, artificial intelligence, constant adaptive security, and event-thinking lay the foundation for next-generation digital businesses.
In this event, Gartner has highlighted the top 10 trends of strategic technology that will be trending in 2018 and onwards in several industries, especially in the E-Commerce industry.
These trends are summarized below:-
1- ARTIFICIAL INTELLIGENCE
The use of artificial intelligence is creating hype in the corporate world. AI carries the high potential to execute multiple tasks effectively. AI is useful to utilize mass data effectively for decision making and also plays a vital role in reinventing ecosystems and business models.
According to a research survey of Tractica, the trend of adopting artificial intelligence in the business world is increasing. In 2015, the net worth of the AI market was 11.1 billion USD. And the net worth of adopting AI systems will be 11.1 billion USD by 2024.
In this context, organizations should move toward adopting AI. They need to invest in human resources, training, and development, IT skills, equipment, processes, and model creation to transform their business processes into the Artificial Intelligence mechanism.
In this way, organizations can increase their productivity across all departments effectively.
2- ANALYTICS AND SMART APPS
Along with AI, the trend of using smart apps and analytics is growing as businesses are becoming digital time by time. There is some amount of AI present in every app.
Gartner focuses on exploring smart apps that can highlight use cases and augment human actions across business processes, advanced analytics, and fresh user experiences.
Gartner also identifies augmented analytics that exploits machine learning to automate the preparation of data, as a zone of strategic importance.
3- SMART THINGS
Gartner also talked about IIOT. The growth of IIOT has encircled several things. Beside IIOT, machines and AI facilitate business processes to function semi-autonomously or autonomously. For instance, a robotic vacuum cleaner having computer vision can clean and navigate the home with negligible intervention. As technology excels, there will be lots of smart things that will function collaboratively to accomplish the goal.
4- DIGITAL TWIN
Gartner spoke about the significance of digital twins in the business world. Digital twins are digital copies of physical world mechanisms. They can effectively use digital replicas for physical processes, systems, and assets. Digital twins usually work parallel with IIOT. They play a crucial role in responding to change, improve operations, and capable to cut the cost of operations and maintenance efficiently.
IIOT and digital twins are widely used across several industries. Digital twins and IIOT provide medical data and biometrics to doctors. It can also work as a digital twin for the town. It can offer useful information to cities and state planners about maintenance and operations.
5- CLOUD COMPUTING
Gartner concentrates on achieving cloud computing capabilities so that organizations can put their servers, data, and electronic resources on cloud computing systems to cut acquisition, space, and maintenance costs.
6- CONVERSATIONAL PLATFORMS
Conversational platforms are online channels where users interact with the digital world. It refers to sophisticated conversational software technology for the customer base and employees. These platforms will be more advanced so they would not need any human support on the backend.
They engage in conversation with the user and translate the communication into furthermore personalized formats which can be useful data for research and development. Conversational platforms can play a decisive role in designing a strategy for business growth.
7- IMMERSIVE TECHNOLOGIES
These technologies are blurring the boundary line between the digital and physical worlds. Virtual reality (VR) puts the consumer in a rendered digital environment. Augmented reality (AR) dissolves the thick line between the physical and digital world by overlaying digital information in the physical world.
These technologies when emerging with IIOT and conversational platforms will bring a significant shift to immersive and ubiquitous computing in the digital business world.
The blockchain is a tokenized, distributed decentralized and shared ledger that eliminates business friction via independent individual participants or applications. It is a digital ledger that contains the feature of incorruptibility. It does not program to record only financial transactions, but it can be widely used across several business processes and operations.
9- EVENT-DRIVEN ARCHITECTURE
It is a pattern of software architecture that promotes consumption, detection, and production of events. The EDA pattern can be applied via the implementation and design of systems and applications that broadcast events among coupled software services and components. The EDA is an effective technology to track and monitor every event of business processes.
The event-sourced real-time situational awareness is foreseen to be a must-have characteristic for up to 80% of digital businesses by 2020. Whereas, 80% new business ecosystem will demand event processing support.
10- CART (CONTINUOUS ADAPTIVE RISK AND TRUST)
The E-Commerce industry evolves into a complex security environment. The employment of sophisticated tools has also increased the threat and security concerns to the digital world. CART facilitates decision making that is trust-based in real-time and allows highly specialized adaptive responses to the security system of the digital business.
However, conventional security techniques exercising control and ownership will not seem to be working efficiently in the digital world in the long term.
These ten strategic technologies are vital to increasing productivity and cutting costs.
However, digital entrepreneurs and B2B marketplaces have to anticipate the right fit of strategic technologies to their organization. It is not essential that every technology is the right fit for you and you are the right fit to adapt to every technology.
There are several constraints such as will your organization bear the cost of implantation of technology? Does this technology be relevant and useful to your organization structure, industry, and product?