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Top 10 IT Innovations of 2020

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Top 10 IT Innovations of 2020

Technology in the current era is evolving in such a rapid pace that no one knows that what will be the revolutionizing buzzword tomorrow. The year 2020 has witnessed the same - new development, innovation and advancement in technologies. As the IT industry trends such as cloud computing and SaaS become more pervasive, the world will look to brands who can deliver with accuracy and real-time efficiency. Technologies like AI and 5G has created a huge impact in businesses, also across the globe. The Internet of Things (IoT), augmented & virtual reality along with biometrics, blockchain and robotics also amazed the world. Though the year 2020 has witnessed the century’s largest pandemic, still it’s the year when the world saw transformational changes in how technology can impact our lives. Let’s have a look at the top 10 Information Technology (IT) trends that created a remarkable impression, and are further expected to simplify the lives of the human being in coming years.

3D & 4D Printing
The business applications for 3D printing are endless. 3D printing can help make construction more eco-friendly, there is zero waste, you can cut down on transportation costs, and items can be recycled for a more sustainable future. The ability to customize a product according to personalized specifications will allow businesses to provide nearly limitless possibilities. In recent years, providing this kind of customization required either significant reprogramming or manual intervention. With 3D printing, personalization is now one more task that can be automated. Though, 3D printing technology has existed for almost 30+ years now. Yet, as the additive manufacturing industry is discovering new applications, new materials, and new 3D printers, another technology is arising, called as the 4D Printing technology and it is coming straight from the future. While still in its early phases, 4D printing technology has shown huge potential to transform organizations with customized and adaptive solutions for various challenges. 4D printing does not involve travelling in the fourth dimension of time, unfortunately, at least not yet, but it implicates the engineering of a new type of structure that can remember its original shape. The technology can be used in various domains and if leveraged meticulously, it can revolutionize the industry.

5G Technology
Internet connectivity is one of the most approachable and important technology in the current era. And 5G is the most innovative and latest technology that is going to disrupt the world. Where 3G and 4G technologies have enabled us to browse the internet, use data-driven services, increased bandwidths for streaming on YouTube and so much more, 5G services are expected to revolutionize our lives. 5G technology is expected to bring more instantaneous communication and a seamless, faster system. Tech firms, banks, hospitals, and other data-intensive companies will have the bandwidth to move enormous amounts of information in real-time. In the case of healthcare, 5G is the pathway to digital therapeutics, allowing patients to get treated at home with the help of VR, AR, and mixed reality; doctors will use remote robots to visit patients in faraway hospitals. By enabling services that rely on advanced technologies like AR & VR, alongside cloud-based gaming services like Google Stadia, NVidia GeForce Now and much more. It is expected to be used in factories, HD cameras that help improve safety and traffic management, smart grid control and smart retail too. 5G services are expected to launch worldwide in 2021 with more than 50 operators offering services in about 30 countries by the end of 2021, making it a new technology trend you must watch out for, and also save a spot in. Though it will take a couple of years for 5G to cover the entire world, when it does, data will flow freely between more people, more places, and more devices at speeds and volumes we have never seen before.

Artificial Intelligence (AI) and Machine Learning (ML)
Artificial Intelligence (AI) has already received a lot of buzz in the past decade, but it continues to be one of the new technology trends because of its notable effects on how we live, work and play are only in the early stages. AI holds significant potential for businesses. The technology is already known for its superiority in image and speech recognition, navigation apps, smartphone personal assistants, ride-sharing apps and so much more. As is often seen with social media, AI, combined with machine learning, can be a powerful combination. Businesses can use AI to achieve cost-saving benefits, streamline workflows, enable more efficient communications, improve customer satisfaction, and provide insight into purchasing behaviour. The AI market will grow to a $190 billion industry by 2025 with global spending on cognitive and AI systems reaching over $57 billion in 2021. With AI spreading its wings across sectors, new jobs will be created in development, programming, testing, support and maintenance, to name a few.

Machine Learning (ML) the subset of AI, is also being deployed in all kinds of industries, creating a huge demand for skilled professionals. ML is changing the world by transforming all segments including healthcare services, education, transport, food, entertainment, and different assembly line and many more. It will impact lives in almost every aspect, including housing, cars, shopping, food ordering, etc. Technologies like the Internet of Things (IoT) and cloud computing are all growing implementation of ML to enhance objects and gadgets into ‘smart’ for themselves. ML offers potential value to companies trying to leverage big data for customer satisfaction. The hidden pattern buried in the data can be very useful for business.

Blockchain Technology
It’s a common belief of many people that blockchain is a technology that is just related to crypto-currencies. But in reality, this technology is beyond that. To be specific, blockchain can be described as data you can only add to, and not take away or change. So, basically, blockchain is a technology that strengthens the security realm. Not being able to change the previous blocks is what makes it so secure. In addition, blockchain technology is consensus-driven, so no one entity can take control of the data. With blockchain, you don’t need a trusted third-party to oversee or validate transactions. Blockchain could make it easier to treat health problems by radically improving the accuracy and availability of your medical history. By creating an accessible, permanent blockchain record, owned by you, you could instantly reveal the ailments, allergies, and lifestyle factors that help doctors diagnose and treat you. It’ll also verify your identity, ensuring you’re not confused with the other John Smith in the waiting room. Several industries are involving and implementing blockchain, and as the use of blockchain technology increases, so too does the demand for skilled professionals. In the coming years, blockchain is going to be in the top of the list of the buzzwords. The demand for this technology will be on rise, and a huge number of job vacancies are expected. So, if you are interested to get into the blockchain, all you need is to have is a hands-on experience of programming languages, the fundamentals of OOPS, flat and relational databases, data structures, web app development, and networking.

Cyber Security
Cybercrime is a bigger problem than ever. Damages from cybercrime are expected to exceed $6 trillion by 2021, and cybercriminals have gotten more brazen in their targets. Even the health care industry has been targeted recently. However, with the rise in cybercrime, there has also been a rise in security awareness. The cybersecurity industry has helped lead the way in giving individuals and companies alike the information they need to better fight back against cybercrime. And you can be part of this industry with the right skills and education. Cybersecurity might not seem like emerging technology, given that it has been around for a while, but it is evolving just as other technologies are. That’s in part because threats are constantly new. The malicious hackers who are trying to illegally access data are not going to give up any time soon, and they will continue to find ways to get through even the toughest security measures. It’s also in part because new technology is being adapted to enhance security. As long as we have cyber-attacks, cybersecurity will remain a trending technology because it will constantly evolve to defend against those hackers. As proof of the strong need for cybersecurity professionals, the number of cybersecurity jobs is growing three times faster than other tech jobs. Also, the need for proper cybersecurity is so high that by 2021, $6 trillion will be spent globally on cybersecurity.

Edge Computing
Formerly, cloud computing has become mainstream, with major players AWS (Amazon Web Services), Microsoft Azure and Google Cloud Platform dominating the market. Now, Edge computing reclaims much of the storage and power that cloud computing took on over the years. Edge computing has ushered in the age of real-time computing, smart devices and remote computing. This technology has allowed the possibility of computing capability near the devices. This has helped increase versatility and almost real-time decision making for critical scenarios. The future of edge computing will improve alongside advanced networks like 5G and satellite mesh and AI. By having more capacity and power, better access to fast and widespread networks (5G, satellite), and smarter machines within computers (AI), you’ve suddenly opened up the world to some seriously futuristic possibilities. Edge computing will increase as use of the Internet of Things (IoT) devices increases. By 2022, the global edge computing market is expected to reach $6.72 billion. And this new technology trend is only meant to grow and nothing less, creating various jobs, primarily for software engineers.

Internet of Things (IoT)
The IoT is vastly changing our world, whether this is at home, in the car, at work or even in the street. As our lives are becoming more centred on technology and are seamlessly connected to one another we look at what impact IoT has on our daily lives. The IoT is the future and has already enabled devices, home appliances, cars and much more to be connected to and exchange data over the Internet. We are able to lock our doors remotely, preheat our ovens on our way home from work, track our fitness on our Fitbits, leveraging the innovative technology - IoT. For businesses, the IoT can enable better safety, efficiency and decision making. It can enable predictive maintenance, speed up medical care, improve customer service, and offer benefits we haven’t even imagined yet. The technology is getting stronger day by day, and it is just the initial stage of IoT. Forecasts suggest that by the next 10 years, around 50 billion IoT devices will be in use around the world, creating a massive web of interconnected devices spanning everything from smartphones to kitchen appliances. The global spending on the IoT is forecast to reach $1.1 trillion in 2022. New technologies such as 5G is expected to drive market growth in the coming years.

Quantum Computing
Quantum computing is the next remarkable technology trend, which is a form of computing that takes advantage of quantum phenomena like superposition and quantum entanglement. Quantum computers aren’t just about doing things faster or more efficiently. They’ll let us do things that we couldn’t even have dreamed of without them. Things that even the best supercomputer just isn’t capable of. This amazing technology trend is also involved in preventing the spread of the coronavirus, and to develop potential vaccines, thanks to its ability to easily query, monitor, analyze and act on data, regardless of the source. Another field where quantum computing is finding applications is banking and finance, to manage credit risk, for high-frequency trading and fraud detection. Huge brands like Microsoft, AWS, Google, Splunk, Honeywell, and many others are now involved in making innovations in the field of Quantum Computing. The revenues for the global quantum computing market are projected to surpass $2.5 billion by 2029. To adapt and etch a mark in this new trending technology, technocrats need to have experience with quantum mechanics, linear algebra, probability, information theory, and machine learning.

Robotic Process Automation (RPA)
Robotic Process Automation is a technology that uses either computer software or Robot to stock up, construe, and manipulate data for large-scale labour purposes. RPA is the use of software to automate business processes such as interpreting applications, processing transactions, dealing with data, and even replying to emails. It helps organizations with their labour requirements and reduces huge cost. Huge volumes of labour need a large amount of transaction. RPA software helps with this segment, cutting down on cost and time necessities. Furthermore, it boosts the company’s production and conversion. RPA has a huge potential to fundamentally change the way we work. In times when digital transformation is taking the centre stage, RPA and other cognitive technologies are here to stay. Not only does RPA automate the old, rule-based processes, but it increases efficiency, saves costs and optimize business processes. In other words, it takes the sting out of tedious, repetitive tasks to streamline back-office assignments.

Virtual Reality and Augmented Reality
Virtual Reality (VR), Augmented Reality (AR), and Extended Reality (ER), are the next technology trend. VR immerses the user in an environment while AR enhances their environment. VR is currently nearing the cusp of global adoption. It's been on an upward climb for viability over the last decade and it's finally reaching the point that highly practical and profitable applications are arising. Virtual reality isn’t just for gamers anymore. Forward-thinking designers, teachers and video producers realize the immersive experience drives higher user engagement than traditional video. As a result, innovators are adding new depth to TV broadcasts, corporate training and other businesses, including ones that aren’t filled with deadly zombies or killer squads. In 2021, we can expect these forms of technologies being further integrated into our lives. Usually working in tandem with some of the other new technologies we’ve mentioned in this list, AR and VR have enormous potential in training, entertainment, education, marketing, and even rehabilitation after an injury. Either could be used to train doctors to do surgery, offer museum-goers a deeper experience, enhance theme parks or even enhance marketing. In year 2019, around 14 million AR and VR devices were sold. The global AR and VR market is expected to grow to $209.2 billion by 2022, only creating more opportunities in the trending technology, and welcoming more professionals ready for this game-changing field.