Article | December 20, 2020
COVID-19 has impacted every aspect of our lives including the way we do business. In fact, according to a recent survey by McKinsey, COVID has accelerated companies’ digital transformation journeys.
In a post-COVID world, there will be an even-greater acceleration of AI adoption by enterprises. AI business applications will be centered around automating tasks, forecasting supply disruptions, and enhancing customer behavioral analytics. There will be a rise in industry and sector specific AI applications where business domain knowledge and business content data are the main differentiators. However, increases in AI adoption rates do not necessarily translate into higher success rates. To avoid failure, business executives need to develop robust AI strategies and metrics, enhance data quality, and focus on AI integration and governance.
Key trends and applications for 2021 and beyond are as follows:
AI and Healthcare
Artificial intelligence played a crucial role in the detection of COVID-19. Indeed, we have seen the emergence of the use of AI at hospitals to evaluate chest CT scans. With the use of deep learning and image recognition, COVID patients could be diagnosed thus enabling the medical team to follow the necessary protocols. Another important application was the triage of COVID-19. Once a patient has been diagnosed with COVID, AI has been used to predict the likely severity of the illness so the medical staff can prioritize resources and treatments.
In a post-COVID world, we will see increased use of AI in detection of illnesses, triage of patients, and drug discovery. According to a recent market research reported by PRnewswire, the market size for global healthcare IT is expected to reach $270 billion by 2020. The increase will be driven by COVID-19, government policies, and the use of technologies such as artificial intelligence and big data.
AI and Supply Chains
Coronavirus has highlighted the need to re-think traditional supply chain models. There will be an increase in the use of technology such as artificial intelligence, Internet of Things, and 5G to make supply chains more efficient.
Artificial intelligence applications will focus on improving end to end visibility, analyzing data to detect anomalies, and forecasting supply and demand outlooks thus making supply chains more resilient.
AI and Retail
The pandemic has changed what and how consumers buy, with retailers forced to grow their online presence. E-commerce has been put at the forefront: in the first six months of 2020 consumer spending with US retailers increased by about a third compared for the same period in 2019 according to Digitalcommerce360.
According to new market research reported by PRnewswire, AI in retail will be worth about $20 billion by 2027. When it comes to retail and ecommerce, we can find AI applications in several areas including customers analytics for product recommendations, targeted marketing, and price optimizations.
For the latter, AI is applied to analyze patterns and data on customer profiles, their purchase power, product specification, timing of purchase, and what the competition is offering. The outcome of the analysis will set the pricing strategy. Several companies use AI to set their pricing strategy on a frequent basis, for example Amazon’s average product’s cost changes about every 10 minutes according to Business Insider source.
AI and Intelligent autonomous agents
COVID has highlighted the need to deploy intelligent autonomous agents that cannot catch diseases to fight against the pandemic. We have seen both robots used at hospitals to diagnose COVID-19 patients and drones deployed to monitor if the public is adhering to social distancing rules.
An ABI research showed that mobile robotics applications market size will increase to $23 billion by 2021. This increase is mainly due to applications that disinfect, monitor, and deliver materials.
The integration of AI with drone technology and robotics will create new application opportunities and will make them mainstreamed across several sectors.
AI and Education
Education is another sector that was badly hit by COVID. According to Unicef more than 1 billion children are at risk of falling behind due to school closures. The pandemic has highlighted the need for educators to adopt digital solutions to minimize learning vulnerabilities across the globe.
AI application in education will mainly focus on personalized learning where the technology is used to design and tailor training materials that matches the student’s ability and learning preferences. Other applications include the deployment of voice assistants to interact with educational material and the use of AI to support teachers in administrative tasks.
AI and Digital Twins
The pandemic has accelerated the adoption of digital twin technology. Digital twins are replicas of physical assets such as cities, offices, and factories. This technology became crucial in testing pandemic scenarios and emergency plans.
Digital twins technology is expected to reach a global spend level of about $13 billion by 2023 fueled by AI and machine learning according to Juniper Research.
When integrated with artificial intelligence and IoT, digital twin technology becomes very powerful when trying to test scenarios and predict bottlenecks, breakdowns, and productivity.
AI and Ethics
Over the last year, we had several prominent examples of AI ethics issues. The first example relates to facial recognition: after several calls against mass surveillance, racial profiling and bias, and in light of Black Lives Matter movement starting in the United States, several tech companies such as Microsoft banned the police from using its facial recognition technology. The second example relates to the use of an algorithm to predict exam results during COVID-19 period: after accusations and protests that the controversial algorithm was biased against students from poorer backgrounds, the United Kingdom government was forced to ditch the algorithm.
In the absence of regulations and tightened frameworks, ethics will continue to be the main concerns surrounding the use of artificial intelligence.
Article | December 20, 2020
Mayur Shah, senior director of product management at software company WaveMaker, said that low-code platforms encourage collaboration between business units and developers, which can have a long-term impact on a business. "This ability to bring stakeholders and software developers together to work on new applications iteratively is a particular strength of low-code platforms," he said. This visual approach to building software is moving beyond marketing and accounting departments and back to software developers. While some low-code platforms are designed for non-tech business units, WaveMaker is designed to help IT teams be more productive by simplifying the app development process.
Article | December 20, 2020
A significant number of workers across the globe have been forced to work from home due to the COVID-19 pandemic. Enterprises saw a temporary dip in workforce productivity; however, with time, employee productivity has surged. A survey with 42 Indian CXOs by Deloitte says that 60% of the companies have reported an increase in individual employee productivity. Many organizations who were earlier not in favor of remote working, have been forced to try it and have realized that with certain policy changes, a remote working model can be beneficial for their organizations.
Article | December 20, 2020
A successful event pays for all the hard work done by the company and the event management team. But along with excellent attendance, more things cater to the success of the event. The audience needs to have a memorable experience and zero hassles throughout the event.
The technology used in the event enhances its experience. Therefore, technology trends in event management play a vital role in the success of any event, plus it also makes the process of event organization relatively smooth and orderly.
Events are no longer just a gathering of people, presentations, speeches, or visuals of entertainment. Instead, there are more of an intriguing and personal experience. Event technology trends have changed the face of events for the audience as well as the organizers. For example, bar codes have replaced paper tickets to mark entry at events. This is a petite example of the use of technology.
AI, RFID, automation, gamification, wearables, project mapping, etc., are some of the event technology trends that have amplified the present event experiences. Let us look at the five major event technology trends in 2021.
Event Technology Trends
Facial recognition is a prominent security feature that Apple has used. It is a success in identifying the phone owner by intimately studying the iris and facial features.
This technology trend is widely used in events and is quite a breakthrough. A scanner is placed at the event gate, wherein the faces are identified for entry access. This experience can further be personalized by generating voice notes with the person’s name. The bottleneck of crowding at the entry is avoided with the use of this trend.
There are endless possibilities that this AI feature can offer. In the upcoming world, it is necessary to adapt to contactless techniques. Hence, facial recognition is undoubtedly going to gain momentum as a smooth and faster check-in method.
AR and VR
Artificial Reality (AR) and VR (Virtual Reality) have become prominent in marketing ideas. As a result, these event technology trends will play a prominent role in enhancing an event experience.
An AR and VR can provide the attendees with a plethora of experiences. Despite being confined to their homes, the audience can virtually visit the event area and have a 360-degree exposure. With the application of augmented reality technology for an event, you can wow your audiences by crafting stories in an entertaining way. This way of storytelling will make sure that your audience listens and experiences the account.
E3 held its conference by totally adopting AR and VR technology. This conference was a hit as it provided the attendees with a real-time view of the virtual reality world that E3 was promoting.
Event technology trends are evolving by leaps and bounds. Event automation is making it possible to plan an event and execute it with minimum manpower-handling and resources. This enhances the event experience and guarantees minimal errors. From designing the venue in 3D to contactless entries, from personalized experience to tracking behavioral patterns, everything is made possible through this event planning technology.
With the emerge of 5G, event experiences will be mesmerizing and involving. AR, VR, live streaming, chatbots will be seamlessly integrated and automated with the event's theme. Skipping the manual labor and shifting to automation provide incredible ROI and attendee experience. In addition, implementing 5G will assure that there are no event technology issues from planning to execution of the event.
Apple, Google, and Facebook have already proved the success of live streaming events. As a result, live streaming an event has become a necessity in the Covid-19 world.
This technology has various benefits. With the implementation of live streaming, a person can attend the event despite different geographical locations (which helps in attaining a global footprint). In addition, online streaming is more engaging and increases the chances of the person attending your events physically.
Live streaming should be available on physical venues. If the event is spread out in a larger place, the audience can attend their favorite event by live streaming. The audience will not miss the session even if they are far from that particular area. This makes the event a grand success.
Live streaming technology in the hybrid event creates a scenario that enables all the interested people to come together and enjoy the event. Although, hybrid events are not a trend, they are the future! Also, live streaming is the ideal solution for events with a tighter budget.
Gamified events see a 44% increase in audience engagement. Gamification is the best way to make the event interactive for the attendees. You can gain a lot of information when the attendees make their choices in the interactive games. This data-gathering process will help you in making your events more personalized for the future.
Rewards, coupons, and free food can be used as motivators for the attendees. Make your event unimaginably successful by organizing quizzes, treasure hunts, and some games relating to your brand.
All you have to do is set up a gamification corner or ask to download the app for a pleasing experience.
The Advantages of Incorporating Event Technology Trends
● It’s safe.
You have access to every place and person who is a part of your event. So, you can keep a lookout for any odd behaviors happening at the event.
● Enhanced guest experience
Your guests will have a magnificent experience as there are easy check-ins, attendance from anywhere, interactive games, personalization, and much more.
If you embrace the events technology trends today, you will be way ahead of the curve. Your audience will be awaiting your events online and offline. Embracing technology trends promises the best outputs and gains for the organizer and the attendees.
Adapting the latest event technology trends is sure to keep your audiences hooked to your brand. Project management tools, AI, and chatbots are meant for personalization of the events and make the task of event organizing simple. Check out all the various event technology, digital tools, and software available for event organization and keep yourself ahead of the race.
Educate yourself about which event technology ideas are the best for your conference, meeting, or event and implement them accordingly. Apart from giving your audience an event to remember, you will find yourself saving a lot of time that goes into event planning.
The pandemic has proved very challenging for the event industry. Thus, the above five event technology trends can be used to streamline the event planning processes.
After all, increasing the attendance, providing a pleasing experience, and building brand awareness are all that is needed for the success of an event!
Frequently Asked Questions
How is the technology used during an event?
Event organizers use technology to study the behavior of the attendees, collect data based on their actions, and then provide them with the best user experience. AI, chatbots, live streaming, and gamification are examples of technologies used during an event.
How is technology changing the events industry?
The use of technology in event planning has led to more personalization. The real-time data used to enhance the audience experience is a commendable use of technology. Technology has led to an increase in audience attendance and a remarkable decrease in the costs of organizing an event.
What are Event technology tools?
AR, VR, AI, Chatbots, Event Automation, Event Mobile Apps, and all the technology used in an event are event technology tools. In addition, there are tools available to manage an event right from planning, execution to asking for feedback.
"name": "How is the technology used during an event?",
"text": "Event organizers use technology to study the behavior of the attendees, collect data based on their actions, and then provide them with the best user experience. AI, chatbots, live streaming, and gamification are examples of technologies used during an event."
"name": "How is technology changing the events industry?",
"text": "The use of technology in event planning has led to more personalization. The real-time data used to enhance the audience experience is a commendable use of technology. Technology has led to an increase in audience attendance and a remarkable decrease in the costs of organizing an event."
"name": "What are Event technology tools?",
"text": "AR, VR, AI, Chatbots, Event Automation, Event Mobile Apps, and all the technology used in an event are event technology tools. In addition, there are tools available to manage an event right from planning, execution to asking for feedback."