7 Technologies That Will Impact Businesses In 2020

Here are seven technologies that will impact businesses in 2020.

1.      Blockchain

Blockchain has immense potential, but the average consumer does not understand what blockchain is. With Facebook launching its cryptocurrency called Libra many other players will join the fray soon. Companies like IBM are working hard to develop other applications for blockchain technology so that it can be used in financial services and logistics. 2019 was an excellent year for blockchain and 2020 will be even better.

2.      Spatial Computing

Virtual Reality and Augmented Reality has changed the way we perceive things. Spatial computing harnesses the power of mixed reality, which combines both AR and VR. This technology focuses on how users interact with it instead of an object. Users can use hand gestures, voice commands and eye movements to control. What’s even better is the fact that it is much cheaper and more accessible. It will transform the way we use to interact with different interfaces.

3.      Chatbots

Thanks to the improvements in natural language processing and sentiment analysis, engaging with chatbots now seem more natural and closer to humans than they have ever been. Yes, they are still not “perfect” and there is still a lot of work to be done before they can become the preferred choice for customer support. But things are moving in the right direction.

This also allows businesses to collect actionable insights and improve their service based on that information. More importantly, implementing chatbots reduces customer acquisition costs, increase customer retention rates and help you deliver a more personalized experience. That is the reason why more and more companies are jumping in the chatbot bandwagon.

4.      Quantum Computing

Quantum computers are a rare breed. They use quantum mechanics, which allows them to perform computations more efficiently. Companies are still working on developing affordable computers, so technology can go mainstream but have not succeeded yet. 2020 will be the year when we might see that happening.

With tech giants like Google, Microsoft and IBM investing their time, effort and money on this technology, we can expect a positive outcome anytime soon. Quantum computing will change the face of cybersecurity as everything needs to be redesigned. The techniques you use to secure your best dedicated servers from cyberattacks will no longer work.

5.      Smart Spaces

The lines between physical and digital environments are blurring. Humans and technology will continue to interact with one another to deliver immersive customer experience. Smart spaces will go mainstream. David Cearley, Vice President of Gartner said, “This trend has been present around elements such as smart cities, digital workplaces, smart homes. We believe the market is entering a period of accelerated delivery of robust smart spaces with technology becoming an integral part of our daily lives, whether as employees, customers or citizens.”

6.      Connected Cloud

With public cloud providers such as Amazon and Alibaba shifting their focus to private and hybrid clouds, we might see the dawn of a new era of connected clouds. Using multiple clouds will become the norm as it delivers benefits such as much improved cloud security, storage, networking and app deployment facilities. Depending on your business needs, you can choose a multi-cloud setup and manage the load more efficiently.

7.      Voice Economy

The rise of voice assistants, smart speakers and other voice-based gadgets have made it easy to find answers to our questions just by speaking instead of typing. Unfortunately, there are still some questions that Alexa, Siri or Google Assistant can not understand. In 2020, this will change thanks to advancements in natural language processing.

These voice assistants use natural language processing and machine learning to recognize human voices. As technology improves, new applications will emerge. The day when you will be able to shop around with your voice is not far away. We are surely moving towards a voice economy where you don’t have to type anything. Just speak your heart out and you will get what you need.

Which technologies do you think will make the most significant impact in 2020? Feel free to share it with us in the comments section below.