Technology has been growing at a rapid pace. It has now become an indispensable part of society and has enabled quicker changes and faster progress, thereby accelerating the rate of change. Businesses are growing more and more aware of how important it is to adapt to technology as it evolves.
Nowadays, it is highly advisable to stay up-to-date with the current trends in technology. Organizations that do not keep up with the latest technology risk getting left behind, resulting in a low rate of growth or none at all.
Technology trends in 2020
In this article, we will discuss the latest trends in technology that are likely to impact businesses in 2020.
Statistics and facts
Let’s take a look at some actual facts that are backing the recent trends in technology.
- According to the NY Times, AI services are used by five out of six Americans daily. 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 job category is blockchain development. 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 5G technology and it is a major cloud telephony trend. It aims at providing superfast mobile internet along with reduced costs. It is all set to revolutionize the world of business.
Even though the cost of mobile data has been declining, it is still quite an expensive investment. 5G is all set to enhance network competency with its high speed while still maintaining lower latency.
Despite many advantages, the adoption rate of 5G technology is relatively slow because it requires new hardware to function according to its capacity. 5G is one of the most sophisticated technology trends in 2020.
2. Artificial intelligence
Artificial intelligence is more than just a buzzword in cloud telephony. It is now virtually impossible to get much done without artificial intelligence. AI* has also boosted the efficiency of call centers. It analyzes and formulates answers to the most frequently asked questions. This minimizes human intervention.
Chatbots on websites, too, work similarly. They improve the visitor’s experience and create higher conversions. Businesses can also use AI to predict customer behavior and get a more in-depth insight on how to increase their profit margin.
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 higher side.
3. In-app communication
Unified communications can help integrate all the communication channels that are being used by a business. This way, the overall organizational productivity can be maximized, costs can be reduced, and the efficiency of in-app communications is vastly enhanced.
A centralized interface can be used to integrate contact numbers and instant messaging applications with a unified communications system to make them more effective.
Today, it has become extremely important to integrate services such as video and audio communication with desktop apps. In-app communication makes it easier to communicate across distant geographic locations while enhancing the productivity of all employees.
Unified Communications as a Service is often referred to as UCaaS. Earlier, corporate communication relied on 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 the communication infrastructure to a cloud phone system, bringing down the overall costs for businesses as they can let a third party manage their systems. This is a better alternative than paying for in-house hardware and equipment.
Moreover, you can simply access audio and video communication or any data with the help of an internet-enabled device. It allows you to run your business on the go.
5. Edge computing
Edge computing aims at diminishing latency by keeping traffic local, as well as circulated. Data wellsprings have now become closely associated with the content collection and information processing owing to the influence of the current technology trends. Edge computing incorporates all the innovations and developments in IoT or the Internet of Things. This technology has been giving a technological upgrade to even the most mundane, everyday objects.
6. 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 taken 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 helping businesses overcoming geographical constraints. For advanced support, VoIP providers now also provide an embedded support system for apps.
7. Blockchain technology
Blockchain technology offers security that is efficient in more ways than one. 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 to validate your transactions.
8. Smart VoIP assistants
Artificial Intelligence is playing a major role in automating processes such as answering calls. With the advancement in VoIP trends and language processing, virtual assistants can now interpret commands better. This allows a virtual assistant to manage customer interactions easily by referring to a set of frequently asked questions. It increases operational efficiency, reserving manual intervention for only very complex issues.
As a result, resolution rates can be increased while automating mundane repetitive tasks with the help of smarter VoIP assistants.
9. Internet of things (IoT)
Siemens issued a report claiming that by the year 2020, an estimated 26 billion IoT objects will be available, which will replace the need for a mobile phone.
Phone numbers that have VoIP enabled on them will be able to connect with other devices easily. Moreover, there will be very little room for errors as all these devices will have zettabytes internet connectivity and will be able to perform tasks at the fastest speed.
10. VoIP and WebRTC
Google launched WebRTC in the year 2011, and since then, it has only been growing while showing much potential. VoIP and WebRTC are two communication systems that make for 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 to carry out specific actions. Mobile apps are now directly able to 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. The rate of growth of cloud telephony and VoIP and their emerging trends are not expected to lose their pace anytime soon, making them an excellent option for business investments.
However, make sure that you have clearly outlined your business requirements before investing in new technology to ensure that it is the right fit for you.