Contributor: Charles Martin
The innovation of incredible technological trends like Artificial intelligence (AI), cloud solutions, digital twins, and continuous adaptive security contributed to a sort of “flywheel momentum” where the advancement of one trends yields benefits in another technologies leading the faster movement of the flywheel. These trends have underpinned the digital platform for the upcoming generations of digital business models and ecosystems with setting a viable stage for businesses and their operations.
Earlier, technological trends were the talk of the town and technology geeks were expecting more flexibility,but, with the evolution of intelligent technologies, life has become much easier, such as- the innovation of “Swarm intelligence” helped designers to make cars safer with accessing vehicle-to-vehicle communication that allows one car to pass information to others in the vicinity. In case of accidents, for instance, alters could be passed on to other cars miles back helping them to operate collaboratively and intelligently.
Such strategic trends with its broad industry impact develop significant potential. This continual process of evolution utilizes new digital models to bring physical and digital worlds on the same platform for employees, partners, and customers. In fact, the year 2018 will be going to witness technology embedded in everything.
The Intelligent Digital Mesh
The “intelligent digital mesh” is of utmost importance for tomorrow’s titans of business as it fosters human interactions, gathers information and access applications by interconnecting all the mediums that people uses to communicate and search information online- wearables, IOT sensors and device contents. Evidently, this digital support is going to invigorate business operations due to its prominent innovation.
The each part of this collective – “intelligent,” “digital” and “mesh” underlines a theme that focuses on different areas. And in order to master these areas, you need to implement everything from programming on the backend to the visible blending of digital and physical worlds and the security support needed to manage those connections.
Intelligent Trend: Artificial intelligence (AI) Foundation
In the year 2017, numerous start-up’s have delved into the AI environment with considering its applications and development, to enhance decision making, reinvent business models, and reinforce customer experience and is expected to grow largely in 2018. More than half of the organizations are even still enquiring to adopt AI environment which is evident from the fact that this ingenious technology has witnessed a steady increase in the inquiry calls.
AI has become advanced so quickly over last few years that now computers are undertaking more and more human tasks. While implementing AI into the business, owners should focus primarily on narrow AI systems that target a specific task with selecting the optimized algorithm with leaving the General AI systems to the researchers due to its preeminent ability of performing any intellectual task and dynamic learning skills.
Trend: Intelligent Apps and Analytics
In next few years, you would see AI incorporated in every application and service at some level. New applications will be released while allowing AI applications to run modestly in the background. Since, AI has proved its utmost importance in software and service markets, businesses are challenging their packaged software and service providers, and analyzing if AI is actually benefitting them in the form of advanced analytics, intelligent processes and advanced user experiences.
Intelligent apps, on parallel, potentially create a new intelligent intermediary layer between people and systems and, thus transform the nature of work and the workplace structure. But users should ensure that they are using intelligent apps only to augment human activity, and simply not to replace people.
Digital Trend: Digital Twins
In reference to the IoT space, digital twins is rapidly becoming the first choice for the businesses to digitalize their physical world. With combining data and intelligence, it represents the structure and behavior of a physical system of any type and offers an interface to understand operations. With implementing this, one can optimise the physical world, and can improve operational performance and business processes. Almost 21 billion sensors and endpoints are expected to be connected by 2020, giving rise to digital twins for billions of things in the near future.
Outside of the IoT, digital twins can potentially link to entities other than “things.” In fact, in coming years you will find improved operations and advanced simulation in every aspect of the world which is connected dynamically with their real-world counterparts and is infused with AI-based capabilities.
Trend: Cloud to the Edge
Edge computing is another IT trend which is likely to grow more in 2018. In this technology, information is processed and delivered at the network’s edge and is kept closer to the information source. The enhanced edge connectivity and greater functionality favours distributed models. For the enterprises utilising IoT elements, should consider implementing edge design patterns into their environment.
Few people consider cloud and edge computing as different approaches, but the reality lies in its concepts. Where edge computing is a computing topology where edge pushes most of the data processing out of the network edge, close to the data source, cloud delivers technology services with using internet technologies, but it’s not a centralised or decentralised system.
Mesh Trend: Blockchain
Undeniably Blockchain is an inventive technology that, being independent, removes business abrasion. With this technology, non-trusted parties can exchange commercial transactions. It holds the promise of disturbing digital information, but not allowed it to get copy. Though initially it was designed for the digital currency, now it also benefit government, healthcare, supply chain, content distribution and many more industries. Conversely, there are still many unripe, untested and unregulated technologies in the market.
Blockchain technology practically demands to understand business opportunities, the capabilities and limitations of blockchain, and the skills of implementation. So, before embarking on this technology, make certain that your team has specified skills to understand what is and isn’t possible.
Digital businesses are always in a position where they can sense and exploit new digital business moments. Event-driven architecture (EDA) defines the production, consumption of, and reaction to events. It reflects a significant change in business events, such as completion of a purchase order. Some business event calls for some business moments like a situation that requires some specific business action. Some of the significant business moments have implications for multiple parties, lines of business or partners.
With implementing AI, the IoT, and other technologies into the business environment, detection of business events could be done and analysed more quickly and in greater detail. Businesses should consider employing “event thinking” as part of their digital business strategy. By 2020, you will find real-time situational awareness as a required characteristic for 80% of digital business solutions.
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