According to Gartner Hype Cycle 2018, Artificial Intelligence, Machine Learning, Virtual Reality, IoT Platforms, Software defined security are the key mainstream technologies to create transformative impact in the next 2 to 5 years.
The research firm tracked and evaluated more than 2000 technologies and has come up with a list which shows promise in delivering a high degree of competitive advantage over the next five to 10 years. Compared to last year’s hype cycle, Gartner added eight new technologies into the hype cycle, which includes Artificial General Intelligence (AGI), 5G, Edge computing, Deep Learning, and Server less PaaS. The hype cycle buckets the three mega trends in technology into
- Artificial intelligence which covers Deep Learning, Machine learning, Cognitive computing, etc.
- Immersive experiences which cover 4D Printing, Augmented Reality (AR), Connected Home, Human Augmentation, Virtual Reality (VR), etc.
- Digital Platforms which cover 5G, Digital Twin, Edge Computing, Blockchain, IoT Platform, Quantum Computing, Server less PaaS and Software-Defined Security.
Let us explore the major technology trends which are poised to create a transformative impact in the next 2 to 5 years with increased mainstream adoption.
Artificial Intelligence Everywhere with Cognitive Computing, Machine Learning and Deep Learning in the Center Stage
Beyond the hypes and heightened discussions, Artificial Intelligence is marking its strong presence in almost all the business sectors. The Gartner report says “AI technologies will be the most disruptive class of technologies over the next ten years due to radical computational power, near-endless amounts of data and unprecedented advances in deep neural networks”. Some of the breakthrough technologies associated with AI are Natural Language Processing, Robotic Process Automation, Machine Learning, Deep Learning, Cognitive Computing and Chatbots which are widely getting adopted in industrial sectors including Retail, Travel, CPG, Education, BFSI, and CPG. With the evolution of technology in the coming years, we can expect that AI will soon be acquiring the capabilities of the human brain and will address complex business challenges which traditional IT cannot handle. It will take the businesses to the next level of operational excellence, customer experience and more ROI with efficient utilization of the data collected and analytics applied on it. Forrester predicts a 300% increase in AI investments in 2018 compared to 2016 and IDC believes AI will be a $47 billion market by 2020 creating a huge market potential for the AI service providers.
The recent insights from Boston Consulting Group market regarding the future of Internet of Things (IoT) adoption and spending reveals that ‘The IoT platform market is projected to grow at a Compound Annual Growth Rate (CAGR) of 40% through 2020 and around 40% of today’s IoT customers prefer to use traditional and well-established software companies for their IoT solutions’. IoT is one of the most prominent technologies which play a key role in digital transformation. IoT holds power to redefine business in terms of improving existing business models, bringing in innovation and optimizing the business cost while reducing inherent risks. Realizing the huge potential, many global enterprises desire to implement IoT in their key strategies. However, due to the complexities relating to IoT technologies and its implementation as well as the lack of understanding on where to start/ how to start the IoT journey, a sizable percentage of them are holding back from IoT implementation plans. This opens up a huge market potential for IoT Platform offerings, and IoT Managed services using exclusive IoT Operations centers by reliable service providers, in the coming days.
Virtual and Augmented Reality
The Virtual and Augmented reality is the next evolved form of communication, which allows the consumers to receive a magnified experience by submerging the senses and eliminating real world distractions. In the consumer centric business world, VR-AR holds greater potential to change the way we search, shop and experience web. It reshapes the shopping experience in retail by providing a much more immersive and personalized experience. Shortly, the implementation of VR and AR into the Omnichannel retail channels is expected to reshape the stores of the future. The massive adoptions of VR applications like Google’s card board, PlayStation, HTC Vive, Samsung Gear, etc. shows the widespread interest and acceptance of VR in the business landscape and consumer space. With the listing of this technology in the Gartner Hype cycle, we can expect that the adoption rate will increase in the next few years bringing in a new era of customer experience and engagement. This also brings in huge opportunities for organizations playing around retail in- store transformation solutions with VR and AR at its core.
Software Defined Security
Software defined security is one of the other major technology trends which Gartner expects to be getting increased adoption in the next 2 to 5 years. In this age of rapidly evolving technologies, maintaining an effective security posture is a huge challenge for organizations of all sizes. Organizations are rethinking their security strategies to get themselves covered from increasing instances of cyber-attacks and threats including Ransomware attacks, Advanced Persistent threats, DDoS attacks, and botnets. To increase the speed and agility of IT enabled services organizations are from their physical on premise data centers to Software Defined Data Centers where they rely on Software Defined Networking SDN and Network Function Virtualization SDN/ NFV. In this scenario, like the other data center requirements the organizational security also demands a software defined nature where the applications require automatic security controls in place and update them on time irrespective of whether the systems are in on premise or private/public cloud. SDS is a new concept to support increasingly dynamic and adaptive new generation data centers. Software Defined Security brings reduces hardware costs to a greater extent and brings in a much more centralized management of security with dynamic mitigation of cyber threats and attacks.
All these emerging technologies covered in the Gartner Hype Cycle 2018 brings in a lot of hope in the global IT sector. Given the sheer pace of these technology advancements, organizations need to be better prepared regarding the strategies, implementation road maps and adept resources to stay ahead of the competition. Are you ready?