Last updated on February 6th, 2023
Technology is changing fast and we all must keep pace with it. With the new technologies come new business opportunities. Those who ignore technology trends are ultimately left behind in the competitive world. Those who make timely adjustments and adapt to the new ways of conducting business, take the lead immediately and get financial advantages as well.
So, if you run a business, big or small, find out which technological changes are taking place. Often these new developments happen unnoticed and we come to know about them only when the new gadgets are in the market. But those who are the first to take note of the new technological trends are the ones who are instantly ahead of their competitors in the market.
Businesses, especially small businesses can benefit immensely from modern technologies. The new techs will reduce the operational and other costs drastically, increasing the profit margins of the small entrepreneurs.
In fact, an increasing number of entrepreneurs are employing new technologies as part of their strategies for business growth. According to a survey, 76% of business decision-makers believe that Artificial Intelligence is a key to their organization’s success.
But which new technologies are gathering pace and attention of the world? There are actually many. We, in fact, come to know about emerging technologies every year. However, not necessarily all the new techs are here to stay for always. Many of them will fade away soon as the businesses will find them unviable.
Here Are The Top 8 Technology Trends For 2020
01. Virtual Reality
Virtual reality was not heard of commonly until the last two years. But technology has caught the imagination of the people. It is now gradually transforming into the mainstream. Many experts are expecting virtual reality to be the next big thing. Businesses have sensed an opportunity in the tech. Besides well-known VR headsets, many manufacturers have come out with their own products.
02. AI Personal Assistant
Artificial Intelligence is gaining popularity in many countries fast for its use in day-to-day works. In fact, such is the popularity and usefulness of the AI devices that companies such as Amazon and Google are offering their best AI personal assistance devices.
People at home can talk to these devices and ask about the weather, temperature, order switching lights on or off, suggest words for a particular situation, translate and so on. Google Home is an AI-based device assisting people in a number of ways in their daily life. Many manufacturers provide AI personal assistance devices and you can avail other tech equipments through various online providers such as Saim Deals.
Drone technology is another new technology trend picking up fast across the world. Till now used mostly for military purposes, this technology is now being used for commercial purposes. Recently Amazon conducted its first commercial use of drones.
In the coming months, the technology is only going to be adopted by a number of companies for delivering messages, orders, and more. In 2020, Walmart is also expected to start using drones for delivery purposes.
Drones are nowadays being used strongly for surveillance and other purposes because of a powerful combination of optical character recognition technology and Position Detection System. This combination helps in providing accurate information regarding a location and activity.
Moreover, nowadays business organizations which have not a sufficient budget to buy the new IT equipment for their staff. Now they can easily hire iPad, VR, Tablets on a rental basis to meet their needs by staying within limits.
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04. Augmented Reality
Augmented reality is the new technology that businesses are going to use in many ways to their advantage. The world came to know about this technology when people started playing Pokemon Go.
Now, businesses are all set to explore the tech for many purposes such as simulating 3 D models in real world. Augmented reality for B2B allows the users to get a simulated model of their businesses and then print it to distribute it to the sales team.
05. Smart Homes
More and more people are adopting smart home technologies to protect their homes from any theft, damage, and break-ins. The technology allows homeowners or property owners to keep a close tab on the property and take care of the safety aspects.
But the technology is not just about safety and security. It also works as useful assistance to the people for a number of works such as heating and air conditioning a home. Many companies sense a business opportunity in this fast-emerging technology. They have lined up smart home products.
For example, the most trustworthy VPN software not only provides a networking facility for your entire home or office, it also helps keep your home secure from any possible threats. One can keep a track on such emerging technologies by following various Tech News sites.
06. Driving Without Driver
Another new-age technology that has caught the attention of people and business owners is driver-less driving. Driverless technology in fact is seen as a big business opportunity. In the coming years, we will be witnessing self-driving hardware in vehicles. Google, Uber and Ford have already shown their intention to manufacture self-driving vehicles in a big way and the competition is heating up already. This is among the major technology trends in 2020.
07. Sentient Tools
Sentient tools technology is yet another field of business that the manufacturers are fast picking up. The sentient tools are being used for social interactions, contests and the environment. The tools will be used in smart homes and smart cars soon. Collaborative robots, OCR Technology, etc. are amid such tools that we will be seeing in the coming days.
08. 3D Printing
Consumer grade 3D printing will be everywhere and prices of the printer will come down starting 2020. The 3D printer prices have already fallen from $200-$300 to as low as $99. With the cost driving down further, the technology will be commonplace. It may be that in 2020, people start giving 3D printers as gifts. People will be printing more than buying the things. 3D printing technique is also already in use for printing of company logo designs.
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So, these are the few technology trends, that we think will continue to be dominating the scene in 2020. Many more technologies are emerging up, creating new business opportunities.