Technology has been growing at a rapid pace. It has now become an indispensable part of the society and has enabled quicker changes and faster progress, thereby accelerating the rate of change. Businesses are well aware of how important it is to adapt to technology as it evolves.
In this scenario, it is advisable to stay up-to-date with the current trends. Organizations that do not know these significant technology patterns may be left behind, risking low growth or none at all.
Technology Trends 2020 Statistics and Facts
We will get a better picture of where the technology trends are leading to in the near future and what we can expect from them by backing up the trends with actual facts.
- According to the NY Times, AI services are used by five out of six Americans on a daily basis. This includes streaming services, navigation apps, smartphone assistants, personal home assistants, ride-sharing apps, and smart home devices.
- USA Today claims that automation could reduce 73 million jobs by the year 2030, as well as create jobs at the same rate.
- The global edge computing market is expected to reach a whopping $6.72 billion by the year 2022.
- According to Techcrunch.com, the second-fastest growing category of jobs happens to be blockchain-related. There are 14 job openings per blockchain developer.
Latest Technology Trends That Will Impact Businesses in 2020
The fifth generation of mobile communications is called the 5G technology and is a major cloud telephony trend. It aims at bringing superfast mobile internet in the spotlight along with reducing the costs involved. The world of business is on course of being taken up by the storm due to the steady development of the fifth generation of mobile communications.
Regardless of the reduction in the prices of mobile data, it has been expensive for quite a few applications. The network competency will be enhanced with the use of 5G due to the fact that it works at a high speed while still maintaining lower latency.
Despite many advantages, the adoption rate for the 5G technology may be slow because it requires new hardware to function at par with its capacity. 5G is one of the most sophisticated technology trends for 2020.
- Artificial Intelligence
Artificial intelligence is more than just the latest buzzword in cloud telephony. It is now virtually impossible to go forward without artificial intelligence for many. The efficiency of call centres can also be boosted with the help of AI as it will help the machine analyze and answer the frequently asked questions. This brings down the need for any human intervention.
Chatbots on websites, too, work in the same manner and improve visitor experience that might lead to conversions. Businesses can also predict customer behavior and get a more in-depth insight on how to increase their profit margin. Business operations can also be streamlined using AI, while enhancing customer experience alongside it as well. Certain providers may be willing to allow businesses to pay for algorithms and resources based on their usage even if the cost of their usage may be on the high side.
- In-app communication
Unified Communications can help integrate all the communications that are being used by a business. This way, the overall productivity can be maximized, the cost can be reduced, and the efficiency of in-app communications is enhanced. A centralized interface can be used to integrate contact numbers and instant messaging applications with Unified Communications Systems to make them more effective.
Today, it has become a matter of focus to integrate services such as video and audio communication with desktop apps, real-time video, and cloud. In-app communication will make it an easier task to communicate across distant geographic locations while enhancing the work productivity of all employees.
Unified Communications as a Service is often shortened to UCaaS to make it easier to be referenced. Corporate communication earlier prioritized traditional telephony, postal service, and email, rather than cloud telephony. Large enterprises spent excessively on outdated technology to make use of automated attendance and call monitoring features that lacked integrated communications. This typically led to slow responses and brought down corporate growth to a large extent.
UCaaS outsources communication infrastructure to a cloud phone system, bringing down the overall costs for businesses as they can have a third party to manage their systems. This is a better alternative than paying for an in-house hardware business. Moreover, you can access audio and video communication or any data with the help of a device having an internet connection. Cloud Storage makes it all possible to be accessed at anytime and from any place as long as an internet connection is available.
- Edge computing
Edge computing aims at diminishing latency by keeping traffic local, as well as circulated. Data wellsprings have now become closely associated with content collection and information processing through the influence of the current technology trend. Edge computing incorporates all the innovations and developments on the IoT or Internet of Things.
The technology trends 2020 boasts empowered edge to drive an increase in such devices and shape the establishments for a smarter space. It moves services and applications closer to devices, thereby individuals who use them on a routine basis.
- Mobile Unified Communications
The latest VoIP trends include Mobile Unified Communications, which aims at exploring the heightened functionality of app-based phone numbers in the virtual space. Businesses can use these app-based virtual phone numbers to make business calls, conduct team meetings, and conferences.
The launch of 5G technology has increased the functionality of mobile applications to a whole new level. This is a major development for businesses and individuals who work in remote locations and will be a gamechanger in overcoming constraints such as location. For advanced support, VoIP providers now also provide an embedded support system for apps.
- Blockchain Technology
Blockchain technology offers security that is efficient in ways more than one, and this is not just related to cryptocurrencies. In a blockchain, you can only add data and not take or change it, thereby making a chain of data. No entity can control the data that is entered because it is consensus-driven and secured. This eliminates the need for a third-party in order to validate your transactions.
- Smart VoIP assistants
Artificial Intelligence is playing a major role in automating processes such as answering calls. With the advance in VoIP trends and language processing, virtual assistants can now interpret commands better. This allows better customer interaction by easily handling questions that are already present in the FAQ category. It also increases efficiency as the manual intervention will only be required for complex issues.
Resolution rates can now be increased while excessive time spent on basic tasks can also be reduced to a minimal state with the use of smarter VoIP assistants. Resolution rates can be increased while any excessive time spent on basic tasks can be reduced to a minimal state with the help of smarter VoIP assistants, .
- Internet of Things (IoT)
Siemens issued a report claiming that by the year 2020, an estimated 26 billion internet of things objects will be available that will replace the need for a mobile phone. Phone numbers that have VoIP enabled on them can connect to other devices with ease. Moreover, there will be very little room for errors to take place as all these devices will have zettabytes internet connectivity and can perform tasks at the fastest speed.
- VoIP and WebRTC
Google launched WebRTC in the year 2011, and since then, it has only been growing with a lot of potential. VoIP and WebRTC are two communication systems that make a great merger. VoIP was initially considered as a predecessor to WebRTC. WebRTC will now help in sharing peer-to-peer files and will also enable calling from web browsers. Through this technology, businesses can forget the hassle of downloading additional plugins or widgets in order to carry out specific actions. Mobile Apps can now directly handle this through the use of virtual numbers.
Despite multiple technologies evolving in the current scenario, the above-mentioned technologies are set to take the business world by storm in the foreseeable future. Cloud Telephony and VoIP trends are not expected to slow down anytime soon, making them an excellent option for business investments. However, make sure that you have an outline of your business requirements before investing in technology to make sure that it is the right fit for you.