IT Trends In 2020: Risks And opportunities
A decade ago, when we were at the threshold of a technology revolution, not many anticipated the pace at which trends would evolve. The fast changing Information Technology has profound impact on enterprise business. It is the engine of growth without which they can neither perform nor compete.
If data is growing at enormous speed, the internet use has reached an unimaginable level. From shopping to booking hotels, everything happens on the Internet. A Cisco study says by 2020, there will be about 50 billion connected devices against 8.7 billion in 2012.
With rapid digitalization, it is very difficult to have a formula or a definition for future success. “Digitalization creates an accelerated technology-driven start up environment across the globe. Many of the vendors who are on top today, such as Cisco, Oracle, and Microsoft, may not be leaders in the Digital Industrial Economy.” said Peter Sondergaard, senior vice president at Gartner and global head of Research.
Those aspiring to be on the top need to have a futuristic vision, taking into consideration the potential complexity and the value on offer. In a kind of warning, IDC says that by 2020, a third of the data in the digital universe (more than 13,000 exabytes) will have Big Data value, but only if it is tagged and analyzed.
It’s imperative that organizations prepare for the future while treating the current trends as lessons. “With the onset of BYOD, the strain on IT organizations is multiplying manifold day on day. Research datapoints prove that mobility, if not addressed, can prove disastrous,” says Aravind Sankaran, Director of Global Marketing at Marlabs Software.
No physical stores at all
e-commerce is on the rise with emerging new shopping trends. The online buyers in India are expected to reach 39 million by the end of 2014 and 128 million by the end of 2018, says a study by Forrester. As online shopping catches up, the social media adoption is likely to change customer perspective, thereby compelling businesses to transform their businesses.
PWC says that by 2020, retailers need to adapt to an increasingly polarized world of greater channel fragmentation, non-store retail growth, smaller formats and retail footprints that may not involve physical stores at all.
Machine vs humans
Adoption of robotics and automation of processes is expected to be higher. By 2020, one in three knowledge workers will be replaced by enterprise owned smart machines. Peter Drucker in a 1967 McKinsey Quarterly article stated: “the computer makes no decisions; it only carries out orders. It’s a total moron, and therein lies its strength. It forces us to think, to set the criteria. The stupider the tool, the brighter the master has to be—and this is the dumbest tool we have ever had.”
What endorses his view is a new research by MIT’s Computer Science and Artificial Intelligence Lab (CSAIL) which suggests: Letting robots have control over human tasks in manufacturing is actually preferred by workers, who said robots “better understood them” and “improved the efficiency of the team.”
Internet of Things: Monetization options
Though it is not easy to list out the future trends, the ones that are most prominent with the power to transform businesses are the Internet of Things and artificial intelligence.
According to Aravind, the future trends include: Managing Mobility, IOT and digital engagement. “With the expanded internet, both enterprises and technology vendors have to speed up the offerings spectrum on IoT to monetize the opportunities,” he says.
Undoubtedly, the protential of IoT is something that enterprises can’t afford to ignore. More than allotting budget for adoption of IOT, they need to foresee the revenue options and how it can be part of their business models.
Simplified or complex?
In 2020, it is expected that the focus of CIOs would be on simplifying the processes.
Atkearney research pointed out: “It will be less complex due to standardization and operations will be leaner as outsourcing and offshoring become the norm.”
While innovations are heading forward at a revolutionary speed, the world is becoming increasingly inter-connected and internet is surpassing all boundaries. Despite those giant leaps, there still exist a potential of some basic fears like security that is likely to continue to haunt us even a decade later.
Whatever technology be, as technology is just an enabler, organizations need to ensure their values are intact . McKinsey says that business models built on transparency and responsiveness will not only satisfy customers but also help companies become more nimble, innovative, and credible with all their stakeholders. Don’t you agree?
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