How 8 Trends Will Steer Infotech in 2020 and Beyond

AJINKYA BAGADE | April 28, 2020

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The tech industry is almost always playing the balancing act by continuing to drive innovations and at the same time grappling with the side effect of those innovations in the global economy. Though every industry faces this challenge as it becomes more mature, the challenge is unique for the tech industry with the scale that tech is able to achieve and the evolutionary aspect of mixing digital and physical worlds.

Technology is evolving at such a rapid pace that it may go out of trend even before it is mentioned as a trending technology. But with the tremendous potential they bring with themselves, both for business and technology, it is time for the technology industry to make good use of it. While there are major questions around safety, privacy, sustainability, and trust, these questions can be answered by combining technical expertise with social awareness.

We’ll discuss how the impact of latest trends in 2020 will support and progress the infotech industry.

Table of Contents:
- Tech-Washing Fades in Favor of Real Strategy
- Growing Demand for Workforce Diversity
- Redefining IT Infrastructure with the Internet of Things
- Artificial Intelligence
- Demand for Automation
- Cybersecurity
- Deep Fakes, 5G, and the Data Management Challenge
- Changing Reality of Emerging Technologies

1. Tech-Washing Fades in Favor of Real Strategy

With the vast influx of user friendly technologies it can now be said that every company is a tech company. Though the fact that technology is everywhere doesn’t necessarily change the underlying business model. A company cannot simply create new growth avenues by slapping a tech label on their product and expect to reap profits, which can be true for larger companies going public and struggling with the reality of the market.Then there are smaller businesses that are falling prey to marketing hyperbole. New trends like artificial intelligence and blockchain require significant investments and change to workflow. The smaller companies slowly realize the difference between buying new technologies and truly integrating them with their work culture.

Businesses will show more intent to integrate a technology into their work culture for strategic returns rather than buying a technology to use it as a crutch.
 

2. Growing Demand for Workforce Diversity

The technological workforce has been under the scanner for lack of diversity due to the unconscious bias along with other behaviour that is far more conscious, such as barrier to access for low-income students and even reports of outright abuse. In 2020, the call for improved diversity will continue to pay dividends, even if fully diverse and inclusive environments still lie further in the future. Going beyond the common conception of diversity, companies will also seek to bring in skill diversity. Companies are now increasingly seeking diversified expertise across all areas of IT framework – infrastructure, software development, cybersecurity and data.

In addition, companies now look for individuals that have some degree of work experience which indicates unwillingness to hire freshmen. Business are also looking for professionals that can speak the language of business and collaborate with other departments in order to drive technology-fuelled business results.

3. Redefining IT Infrastructure with the Internet of Things

The Internet of Things has emerged as one of the technological trends, along with cloud computing and mobile devices that will now be a permanent part of modern technology landscape. Digitization of environment and operations has gained pace due to the data value that comes with it. IoT is also bringing positive results for companies with both major and minor level IoT-related sales in the last year. Today, IoT as a managed services play is driving the most revenue in this category, but looking ahead to the next two years companies are predicting that analytics on data captured by IoT sensors – then shared with customers – holds the most financial promise.
 

I&O must get involved in the early planning discussions of the IoT puzzle to understand the proposed service and support model at scale. This will avoid the cascade effect of unforeseen service gaps, which could cause serious headaches in future.

- Ross Winser, Senior Research Director, Gartner


The next wave of IoT will require expert understanding of digital BizOps. Business will have to treat IoT projects more like an expansion of infrastructure.This will dictate networking structures, storage options, data policies, and security decisions. The stage for IoT, as for cloud computing and mobile devices, is set and ready to bring in advance IoT digital transformation.


4. Artificial Intelligence

Cloud computing lowered the barrierdeveloping software and distribution, while mobile devices extended the reach of software, thus increasing the software’s ability to drive activity. This created a new challenge in conducting said activity and acting on the data being collected. Artificial intelligence with software-driven routines and compute resources that can run advanced algorithms, takes software to another height. It is clear by now that AI needs a different kind of oversight compared to other software given the challenge of programming bias and unreasonable outputs. Like any other software, AI requires solid inputs and these inputs are often massive datasets rather than highly specific data points. But, there is still a need to maintain the data quality. AI opens up new opportunities for businesses as well as job roles as it continues to disrupt the infotech landscape.

5. Demand for Automation

SMBs require automation mainly in the areas of integration of platforms, application and data, while the large corporation who also focus on integration, have more internal resourcesto lean on. But, whether the integration is in-house or outsourced, the next step is automation. Today’s automations open doors to new opportunities like cloud systems offers tools from the provider; IoT gathers inputs from varied sources, and AI suggests insight-driven actions. With a number of technologies disrupting the tech landscape, companies can build complex automation. But as automation goes more complex, AI will play more a monitoring role.

6. Cybersecurity

Cybersecurity is not an emerging trends but it has been around for a while. Though the technologies revolving cybersecurity are upgrading as new threats keep appearing. Hackers keep finding news way to exploit the toughest of measures.

The attitude towards cybersecurity has shifted drastically from defensive to a more aggressive approach. Another drastic change has come in enterprises now treating cybersecurity more as an important component of business and not another function of IT. At large enterprises, this usually takes the form of a CISO managing a team of resources, and the division is more clear.

The first step, which many enterprise overlook, is to define the risk tolerance. The next steps is to fill the skill gap that exists due to a varied areas that come under the security umbrella. Finally, there must be metrics to measure the return on a more significant investment.

READ MORE: HOW TO MITIGATE ROBOTIC PROCESS AUTOMATION IMPLEMENTATION WITH LOW-CODE DEVELOPMENT

7. Deep Fakes, 5G, and the Data Management Challenge

Deep Fakes have the potential to wreak havoc on the society, personal lives, politics, careers, and beyond.Forging video and voice software appear to convincing people of doing things that they normal won’t do. Such software in the hands of bad elements would mean inviting trickeries and handing over important personal information to strangers. As long as deep fake applications exist – and they will continue to exist and proliferate – the need for sophisticated data management will skyrocket in the coming years. And data volume, already completely exponential, is only going to mushroom with the more expansive rollout of 5G networks next year and beyond. The entry of 5G will increase the absorption of data exponentially.
 

In addition to bringing us all faster broadband speeds and more reliable mobile networks, the proliferation of 5G will also accelerate advancements in smart city, smart vehicle, smart manufacturing, and scores of IoT-intensive technologies hungry for 5G. Just about every industry that touches our daily lives will be transformed – for the better – by the technology evolution that will define 2020.

- Daniel Newman, CEO,Broadsuite Media Group


The two trends will bring new data management challenges. There will be increasing need to identify data with its true source as well assecure the mountains of information speeding along these networks.


8. Changing Reality of Emerging Technologies

The excitement around emerging technologies is highand even though the impact on an operational levelhas been positive for business for building better practices for evaluating early-stage topics and accelerating adoption, its been chaotic at a tactical level. Companies have had less time to observe and evaluate which technology is profitable, while the constraints of resources and skill gap exacerbates.

The trend has been that companies in the business of technology are starting to pull back on adopting new technology as part of their portfolio. This slight tap on the brakes suggests that classic situation where companies move too quickly into a new technology discipline or business model only to have a reality check in year two or three. Though companies are excited about new technologies including AI, IoT, 5G, drones, blockchain, and quantum computing, they reserve their excitement since new trends can still take off overnight.


READ MORE: HOW TO LEVERAGE IOT IN MANUFACTURING TO USHER IN INDUSTRY 4.0

Spotlight

Viatek Group

Viatek is a services-based organisation delivering tailored business solutions across all aspects of print, IT and communications. Established in 1984, Viatek is proudly Australian owned and operated. With 23 offices across regional and metropolitan areas, our experienced, local teams are committed to providing innovative solutions to help Australian businesses maximise productivity and drive down costs. With a comprehensive service portfolio, extending across managed print and IT services, cloud solutions and unified communications, we have the power and expertise to deliver bespoke solutions that will adapt to our customers’ changing needs.

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DIGITAL TRANSFORMATION

Silicon Industry Post COVID – What to Look Forward To

Article | December 1, 2021

The pandemic has bought in new normalcy in various aspects of our life. Post-COVID will experience a different way of life than it was before. The silicon industry experienced a lot of trends shift from pre-COVID time to COVID time and post-COVID time. The trends and opportunities have taken a long turn to a different perspective than before. With the rapid jump in technology demand, the IT Industry, which majorly served organizations is now impacting individual lives and society as well. This article discusses the transformation that the Technology Industry has picked up during the pandemic which changes the overall future shape of the industry. Extensive Digitalization The onset of COVID saw extensive digitalization in various fields. This is predicted to be carried along and after the pandemic to a larger scale. As the COVID eased along the last few months, the Technology industry saw a boost in hiring numbers with the requirement for more freshers and experienced heads. 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These highlighted the fragility of various computer systems and pinpointed the fact that they are vulnerable if targeted against. The lockdowns catalyzed the need for cybersecurity specialists. Post-COVID and above, there is a large demand for digital security and its application among various sectors to protect user data. With a rapid rise in digitalization, the need for cybersecurity also rises due to mass user interaction and data generation. The dark web during lockdowns witnessed the greatest number of hackings and user details posted on the dark web for free. Major attacks against tech giants showed that we are never alone in the online world. Although various digital security measures have been kept in place, it is not a full-stop fix to the problem. A major application of digital security is in financial institutions like Banks. 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Make Sure You Have the Hard Skills for the World of AI Marketing?

Article | November 25, 2021

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There is more room to grow: Drivers and Barriers of AI Adoption

Article | November 24, 2021

So far AI is being used in virtually every sector. Still, its full potential has not been realised. Like in all sectors, AI technologies are permeating financial services around the world. It seems that following the premise: “maximizing the benefits while minimizing the risks” is not that simple. Though, banks have continually adapted the latest technology innovations to redefine themselves as the AI-first institutions, there is a long way to go. And it is usually the case that many banks are struggling to move from experimentation around select use cases to scaling AI technologies across the organization. Then, why is this so? Is there a “recipe” for adopting AI technologies as the foundation for new value propositions? This article portrays the driving forces and challenges to guide bank leaders discover an insight to creatively meet increasing demands for scalability, flexibility and speed that today characterise digital-native companies. In order to address this core issue, first of all, we will categorise and describe the main “drivers” into three big headings: re-imagining engagement, facilitating cost-efficiency and de-risking risk management. Drivers • Re-imaging engagement: “anticipation, personalisation and differentiation” As digitalisation is advancing in the financial ecosystem, customers are “raising the bar” developing higher expectations in the demand of performance, personalisation, quality and services. Giving customers a more integrated banking experience across business applications is key. By aggregating data from separate sources, banks will be in a better position to proactively offer personalised products to suit customers’ needs as and when required, also adjusting to the customer’s life stages and, in that way, easy the journey within and beyond bank channels. Understanding their customers’ behaviour, preferences and product needs banks will raise their competitiveness. Banks will require a clear strategy, that is, to adopt a design-thinking lens as they build experiences within and beyond the bank’s platform. • Digitalization and virtual banks: Facilitating cost-efficiency In an ever-changing market competition, it is crucial for banks to adopt a more economical and lower risk approach that will enhance their cost efficiency and overall profitability. An intelligent infrastructure might be the answer: cloud-based platforms allow for the higher scalability while reducing costs for IT maintenance, which -in turn- enables self-serve models for development teams, which means rapid innovation cycles by providing managed services. • De-risking Risk management In a complex and fast-moving environment, banks need to adopt a new approach towards risk management. Build AI models that are consistent with the company’s values and risk appetite might be challenging but also an “enabler”. Early solution-ideation process to understand the potential risks and the controls to mitigate them reduce costly delays by embedding risk identification and assessment. Of course, in practice it means creating a detailed control framework that sufficiently covers all these different risks, which is a granular exercise. Barriers Identifying and addressing barriers to the deployment and scalability to become the AI-first will be critical. We will focus only in four threats but there are many more. • The black -box threat: lack of explainability and poor human judgment Explainable AI: Turning a “black box” into a “clear box”. The importance of explainability as a concept has been reflected in legal and ethical guidelines for data and ML. 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Partnerships are the most common approach, which involves external consultants, innovation hubs, incubators and academic institutions. A suitable solution that brings other concerns: proprietary vs. open-source algorithms, cost of maintenance and intellectual property rights. • Data availability and quality Financial institutions have a lot to gain from overcoming their information readiness challenges. By creating a complete view across their structured and unstructured data, institutions will be able to analyse, understand and manage their digital ecosystem more efficiently. Achieving this comprehensive view across all their data is the first step. Only then will financial institutions be able to apply advanced AI-powered analytics across their data to extract real-time insights and increase automation to drive operational efficiencies, maximise revenue and create a more personalised customer experience. • Regulatory framework: Data privacy and protection requirements. 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FUTURE TECH

Why Use of Technology in Businesses is Important?

Article | November 20, 2021

Whether it is R&D, payroll management, human resource management, accounts, or finance, technology has considerable benefits for your organization. Whether you run a small, mid-size, or big business, technology is your leading source of knowledge that offers both intangible and tangible advantages to make money and meet customer needs. Today’s society is already experiencing a total integration of the internet, mobile devices, smart appliances, etc. The current business world is not the same as the last 100 years (that didn’t change much despite the industrial revolution). Now the rate at which technology is adapting, expanding, developing, and mutating, every business will face its effects, whether it's ready for it or not. The advantages of technology in business are infinite. Its role in organizations is already spreading its wings and will continue to grow in the future. 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Instead, they should view technology as a tool that uncovers new ways of running a business. But what technologies are we talking about? And, how can organizations benefit from them? Keep reading to explore! Effective Use of Technology in Business for Growth Around a decade ago, businesses had the following challenges (and they were severe!): No availability of voice searches or Internet of Things (IoT) No centralized work communications No new marketing platforms (like social media) No availability of high-speed internet Situations are (fortunately) different today. The use of technology in business has transformed operations; the pace of this transformation has been excellent. The following uses of technology in business can change how your organization operates and ultimately result in more efficiency, profits, and growth. Use of Artificial Intelligence (AI) Apart from being a mainstream thing of our day-to-day life, AI is reshaping the landscape of the consumer market and businesses of all sizes. From security, CRM, finances, and accounting to buyers tracking, inventory management, and predictive analysis, AI can handle everything and eventually offer a competitive edge to your business. Many businesses around the world have already implemented AI into their operations. It is pushing those companies in the correct direction while offering their customers the best user experience. For example, Spotify uses AI to recommend music to its users. Uber uses it for route optimization, fraud detection, pairing riders and drivers, risk evaluations, and several other parts of its app. Use of Robotic Process Automation (RPA) RPA is being increasingly utilized to carry out time-taking tasks. It can replace employees in manual and repetitive tasks and is thus perfect for industries where such actions are identifiable. For example, many retail businesses use RPA software for customer support management, business & sales analytics, product categorization, store planning, payment processing, and more. Companies that deal in construction use it for estimate generation, contract generation, resource allocation between construction sites, construction site cost monitoring, etc. Even telecom companies use RPA to simplify customers’ document verification, increase First Call Resolution (FCR) rate, optimize customer onboarding, and boost SIM card allotment processes. Use of Technology for More Knowledge In 2022, technology will continue serving as a right hand and source of knowledge for businesses. Technology and knowledge are directly proportional to each other as technology allows producing better decisions, making accurate predictions, and innovating based on the knowledge it generates. Knowledge, undoubtedly, is one of the biggest benefits of information technology in business. With the right blend of technology and knowledge, companies can effectively make the most of databases, querying & reporting, search engines, CRM, and whatnot. “CIOs and CISOs have such a unique opportunity right now in driving the enterprise forward. Be that through shaping corporate culture or guiding the company through their digital journey, technology leaders have a strong upper hand . . . it’s a great time for the enterprise but it’s also a great time for technology leaders to position themselves for space in the boardroom. This is a career-defining moment.” Hunter Muller, President & CEO, HMG Strategy Frequently Asked Questions How does technology help businesses? The use of technology in business can offer many advantages. Here are the top five of them: Improved data security and customer experience Better communication means Time and cost-efficiency Enhanced business agility Increased streams of revenue What technologies will dominate the future? As a business, you need to keep your finger on the pulse of emerging technologies because the use of technology in business is your ultimate way to achieve the desired growth, efficiency, and profits. The following are the technologies that will dominate in 2022 and beyond: Internet of Things (IoT) 5G Blockchain Artificial Intelligence (AI) Customized & Intelligent Management Systems Automation Why should SMBs (small & medium size businesses) use technology? Technology has the power to transform all SMB operations. In any industry, technological advancement can impact aspects of small businesses such as internet capabilities, computers, web-based applications, online storage, etc. With the right adoption of technology into the environment, entrepreneurs and SMB employees can enjoy the following benefits: Improved collaboration and data sharing Instant connection with consumers Efficient employee training Flexible work environments Improved online visibility { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "How does technology help businesses?", "acceptedAnswer": { "@type": "Answer", "text": "The use of technology in business can offer many advantages. Here are the top five of them: Improved data security and customer experience Better communication means Time and cost-efficiency Enhanced business agility Increased streams of revenue" } },{ "@type": "Question", "name": "What technologies will dominate the future?", "acceptedAnswer": { "@type": "Answer", "text": "As a business, you need to keep your finger on the pulse of emerging technologies because the use of technology in business is your ultimate way to achieve the desired growth, efficiency, and profits. The following are the technologies that will dominate in 2022 and beyond: Internet of Things (IoT) 5G Blockchain Artificial Intelligence (AI) Customized & Intelligent Management Systems Automation" } },{ "@type": "Question", "name": "Why should SMBs (small & medium size businesses) use technology?", "acceptedAnswer": { "@type": "Answer", "text": "Technology has the power to transform all SMB operations. 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Spotlight

Viatek Group

Viatek is a services-based organisation delivering tailored business solutions across all aspects of print, IT and communications. Established in 1984, Viatek is proudly Australian owned and operated. With 23 offices across regional and metropolitan areas, our experienced, local teams are committed to providing innovative solutions to help Australian businesses maximise productivity and drive down costs. With a comprehensive service portfolio, extending across managed print and IT services, cloud solutions and unified communications, we have the power and expertise to deliver bespoke solutions that will adapt to our customers’ changing needs.

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