Biggest Technology Trends And Challenges For Businesses in 2020

Technology has always been unpredictable, not in terms of safety specifically but in the context of trends and new conceptual applications. But, can we ever figure out how technology is really shaping the future? Maybe not. The Jetsons, an old popular TV show depicted that the 21st century will be filled with flying cars and robots. Most of that never really came true, but in a way, a new wave of technology and software started taking shape. 

The last decade has indeed been the golden age of modern technology. We have seen the rise of email, telecommunication, social media, and now artificial intelligence, robots, and cryptocurrency! Who would have thought that we would be using a piece of rectangular metal to interface with each other and the world? Companies like Uber, Airbnb, Facebook, and Google are all on the top of the tech pyramid and are drastically pivoting from what they initially began. 

Thus, this decade seems like an exciting one. 2020 has a lot to offer when it comes to technology that will help businesses grow and expand, while also throwing more than a few challenges at the same time. In this post, we will talk about the top technology trends and challenges businesses will experience and have to overcome. 

Top 3 Trends

1. Hyper-automation

Automation has been around for a very long time now, making lives easier for manufacturers and other production-based applications. With the advancement of technologies like machine learning and artificial intelligence (AI), automation has taken a newer and better personality. Hyper-automation is known to speed the general automation process to an exponentially higher level.

Software developers have computed various machine learning and AI concepts to automation tools. It has not only changed the generic automation as we have always known but has possibly made an ecosystem that sustains on its own while learning and correcting itself to be more productive. It is predicted that hyper-automation is going to take the spotlight soon enough.

Robot typing on keyboard

2. Human Augmentation

Human augmentation does seem like something out of a Black Mirror episode, but in reality, it is quite the contrast to that. This new technology is being developed by tech giants like Elon Musk, who claim to deliver cognitive and physical enhancements as a major part of how humans interact with each other and their surroundings. This new trend of technology will improve how we as humans react and make decisions in stressful and dangerous situations; giving us a new perspective with better developed cognitive and behavioral skills.

Currently, Boston Dynamics is working on devices that can be used in battlefields and other situations where humans are more vulnerable with their thinking and actions. Applications like wearables that will increase safety in mining industries, health and pharmaceuticals, travel, and in the future, possibly natural disasters, are also being developed.

3. Blockchain and Cryptocurrency

Blockchain technology has faced some heat in the past few years, but only because of the stigma attached to it for being a bubble that might actually fail in the near distant future. Practical blockchain, in reality, is the fusion of socialism and technology, where it lowers the cost of transactions and other paid applications across the world.

Cryptocurrency is one of the best applications for blockchain yet. Though it has taken its fair time to enter the market, its applications are resourceful, profitable, and flawless. The fundamentals of this technology work on a chain of highly encrypted data that is present in a decentralized network; making privacy better and cyber threats to a minimum.

Top 3 Challenges

With these kinds of ground breaking technologies, there is however an equal and opposing set of challenges that many businesses will have to deal with. Here are a few challenges that organizations might face when it comes to modern software and technology:

1. Data protection

The last few years have made us lose our trust with companies like Facebook. Data protection is a major challenge that businesses will face once the new wave of tech flows in. Governments will be changing many regulations and laws to ensure privacy for its users. Major firms today are already facing many problems when it comes to data collection for business purposes.

Data collection without the awareness and acknowledgment of the people is wrong, but at the same time, new laws will make it even tougher for any sort of collection of data that will help grow the business. Companies themselves might be vulnerable to this, and hence security measures can be a bit challenging.

2. 5G networks

The 5th generation network makes all its previous generations look like toddlers. 5G entered the market in late 2019, and 2020 seems to be all dedicated to bringing this technology everywhere in the world. Speeds With streaming, downloading, and uploading speeds in Gbps (rather than the present Mbps), we will, for the first time in the world’s history, be experiencing ultra-fast internet to conduct businesses.

However, 5G technology operates on high frequencies of EMF. The World Health Organization (WHO) has categorized this level of EMF as a Class 2B carcinogen, which means there is no solid evidence of what this type of EMF frequencies will do to humans and animals. Employees and customers both have a potential risk from this ultra-fast internet. So, using this at the workplace will be a challenge indeed.

3. Artificial Intelligence

Finally, we talk about what many sci-fi movies have warned us about. Giving intelligence to a machine that has higher computing powers than any other human being can prove to be a fatal catastrophe. Many people, including the late theoretical physicist Stephen Hawking, showed their concerns about experimenting with artificial intelligence.

There are plenty of theories out there that tell us that once the AI realizes its place on this planet, then there is no stopping it from enslaving us, the lesser beings. But, theories are theories. Things might not escalate so quickly, but from a business perspective, giving more and more power and freedom to such technology can be risky. Trusting a robot (who has more computing and processing power than us and cannot feel pain) cannot be so blind, we will have to take preventive steps to prevent any domination.