2020 was a somber land, which no one imagined to wake up to. The hard realities of life crushed millions down as the clouds of coronavirus lingered over the globe. So, what are the lessons one discovered in these challenging times? Living in a digitally empowered world, where IT and AI are headed to a revolutionary peak, how did an invisible virus make its way here? These waves of uncertainty have swamped heavy breakdowns in almost every industry, company, and domain.
The global pandemic has affected all the segments be it small, medium, or large scale now organizations are under immense pressure to stay in the game and sustain for the long run. The lockdown has fueled the growth of digital transformations and now there is a need for more automated processes than ever before. According to a survey conducted by MuleSoft’s Connectivity Benchmark Report, IT projects are estimated to grow by 40% in the upcoming year and almost 82% of organizations’ IT teams will be looking forward to offering connected customer experiences considering the growth drivers of adaptability, stimulation, and holistic success. With such breakthrough numbers, let’s have a look at some of the technologies that are ready to hit the floor and define the new normal.
- The Arrival of the much Awaited 5G
The new ‘work-from-home’ routine has transformed the internet business drastically as there have been a record-breaking number of online users. With everyone turning into the digital space, the networks are now expected to become more advanced, efficient, and prompt to meet the current requirements. According to a recent survey, 5G is expected to reach a global economic output of $13.2 trillion and generate employment of 22.3 million jobs by 2035. The technological possibilities today are huge as we live in a data-driven world with thousands of software and applications.
With the advent of 5G, the digital domain is expected to leverage new power-packed capabilities. The 5G will renew all the existing processes and deliver far more accurate and fast outcomes, it will ease out the daily tasks of sharing data swiftly, cut down the processing delays, and help stimulate the various techniques. The 5G connectivity assures a constant and secure network connection anywhere and at any time. The numerous hiatus caused in the processes that used to earlier hinder the performance and execution will not be a problem anymore. This fifth-generation network will become a new era of communication and connection enabling productivity and quality. With the rollout of 5G in 2021 along with the advances in LP-WAN-based services, the data created by businesses is set to grow with leaps and bounds.
- A Digital Encouraged and Cherished Culture
Go Digital, Build Your Website, Create an Online Presence, Have a Virtual Platform these are some of the terms popular known on the internet for establishing a business. However, it was in 2020 when every organization understood these concepts and realized their spreading demands. Many companies have been at a risk, some are on the verge of shutting down, some have already shut down, in these crucial market times, organizations must digitize their services. This will help them find targeted customers, an excellent niche for the present period, and start gathering trustworthy networks. Moreover, this will monetize their business on a large scale and to a big audience generating them new revenue channels and faster yields. As consumer engagement increases, the clicks turn into conversions and more sales will start to pour in right from the initial days of customer interactions. These initial steps will become future strides establishing a brand entity and securing a name among regular customers; hence investing in the digital market is a boon at this point. Moving ahead, the several social media platforms are bestowing brands with the necessary resources to grow locally and globally with widespread audiences all under one roof. As online users continue to jam-pack the internet, 2021 will become a digital phenomenon. Also, according to stats, almost 77% of remote employees have experienced higher productivity rates during the lockdown and also 75% out of them wish to continue this work-from-home routine for time being. Hence, people are now getting used to the digital concepts and bending with the new work-life balance lifestyle.
- The Climb towards Automation
In 2020, Automation played a vital role as everyone experienced a 360-degree shift in our daily lives. With the new normal culture of wearing masks, sanitization, social distancing, and more, automation is changing the demographics with the hi-tech innovation models. As Salesforce states that 81% of IT organizations will delegate their tasks to automation and allow their respective team members to focus working on new advanced developments over the next 12 to 18 months. McKinsey records that 57% of organizations are looking forward to turning one or more of their business units and functions into automation as this is a key growth driver for digital transformation.
Also, Robotic Process Automation (RPA) is a leveraging automation technology for repetitive tasks. As every process has its own set of pros and cons, automation has some hindrances, where companies are willing to experiment and invest in automation across all industries. On the other side, there have been some interruptions like connecting systems, data and application breakdowns, and more. A good fit to solve such complexities is the use of API as it is a driving force for automation and scaling productivity. The concept of Hyper Automation is to automate everything in an organization that can be automated. This also raises the question of whether automation jobs will replace humans, well for right now only 5 % of the total jobs can be automated, and the rest 95% requires human development resources. Hence, that can’t be the case as automation will also help in job creation in the upcoming times.
Blockchain technology has gained momentum since the upswing of cryptocurrency as most people thought that it was related to bitcoin. However, that is not the case; blockchain is widely used to secure and store databases across the entire network of computer systems. Blockchain is immutable, that is all the databases are stored in blocks, which are further linked through each other in a chain. Hence, in the name blockchain, the data stored here is highly security-focused and there is no third party included for any transactions. Privacy is intact at all times between sender and receiver. As the crypto market continues to increase, blockchain technology is an ideal option for startups or some new business unit to invest in.
These are a few of the trends to look for in 2021. The COVID-19 pandemic has revived the world, businesses are now streamlining towards feasible solutions to become resilient, agile, and focus driven. The early birds that integrated the digital trends have progressed with desired outcomes through learning, adapting, remodeling, and growing with the futuristic times.