This year has been chock full of exciting tech innovations. We’ve seen the rise of robotics and personal assistants in everyday life, while Amazon Prime’s one-day deliveries have forever changed the world of eCommerce. With a new decade quickly approaching, technologies such as these are just the beginning.
When looking ahead to the 2020s, Forbes recently shared, “The next cycle of innovation will perhaps be the most consequential of all time. Why? The pace of innovation is at an all-time high and the technologies being released have broader impacts than at any time in history.”
With only a few months left in 2019, we are standing at a critical point in history. It’s time to ask ourselves: What emerging top tech trends are going to be the most significant in the coming year?
Next-generation 5G technology was one of the most talked-about technologies at the Consumer Electronics Show (CES) earlier this year. Although there has been some apprehension surrounding the safety and potential health risks of 5G wireless, this tech trend doesn’t show signs of slowing down in 2020. The elevated bandwidth of 5G WiFi networks will render faster internet speeds and an easier setup process, as well as further the use of exciting technology such as driverless cars and drones. It will continue to be a dynamic force in wireless technology, as both manufacturers and the world’s largest telecommunications companies, such as Verizon Wireless and AT&T, continue to deploy this exciting 5G technology.
Prescriptive analytics is currently one of the most earth-shaking big data trends to watch out for in 2020. Until recently, analytics tools have primarily focused on descriptive and predictive applications. These applications analyse historical data, enabling a better understanding of changes that have occurred. Prescriptive analytics, on the other hand, utilises both predictive analytics and descriptive analytics to determine the best actions to take now and procure the best possible outcomes or solutions for your business. In simpler terms, descriptive analytics answers the question: What has happened? Predictive analytics answers the question: What could happen? However, prescriptive analytics takes the data a step further by advising you on the outcomes and answers the question: What should we do?
Many credit card and insurance companies are already using prescriptive analytics to analyse consumers’ purchase histories and credit scores in order to predict their future actions. Keep an eye out for ways you can use prescriptive analytics to help your company make intelligent, future-focused business decisions next year.
Artificial Intelligence as a service
Artificial Intelligence (AI) has been centre stage for years, but we’re about to move into new territory—the growth of artificial intelligence in the public cloud. Providers of cloud services are getting ready to roll out a “comprehensive stack” that delivers AI as a service to the masses without costing a fortune. Many AI platforms currently offer services such as GPU-based processing for intensive workloads, and large companies—like Google, Amazon, and Microsoft—have already established programs offering machine-learning solutions and training materials. Combining AI cloud services and businesses to generate solutions to in-house problems will likely continue to develop throughout 2020.
Automation in banking and finance
Automation is currently a fundamental technological advancement for a majority of software companies. Technologies such as cloud computing, robotics, and big data are just a piece of the puzzle with automation in banking and finance on the rise. According to a recent report, the “Banking, FinTech, and Insurance industries will gain $512 billion as a result of Intelligent Automation” by the year 2020. We will also likely see more banks absorb FinTech startups and our society—especially larger cities—will continue on the path to a cashless economy.
By the year 2021, there are likely to be more virtual assistants in use in the world than people. Virtual assistants of the AI variety like Siri, Alexa, and Cortana have been mainstream for years, but the expansion of voice technology is projected to grow by billions of people in decades to come. In 2020, we will see voice technologies yield exciting, innovative ways to meet our human longing for personalised, relevant experiences. Going a step further, this technology will be able to hone in on our deep-rooted need for self-knowledge and substantial relationships. Consumers will come to see virtual assistants as a necessary companion and friend in the coming age.
It can be challenging to stay at the forefront of emerging technology trends in today’s fast-paced, ever-changing tech industry. The above list features a few of the top tech trends in Southeast Asia to watch out for in 2020. As established tech companies and youthful startups bring us new innovative technology, 2020 is sure to be a historic year.