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2020 Technological Trends Every CIO Should Know

Vallery Henings

January 20, 2020

Blog

Over the past years, we have witnessed different technologies emerging and taking different dimensions. In the same way, technology predictions 2020 are set to change in different ways. Just like any other thing, technological changes also faces problems, be it public or private. The business organizations should always be ready to face the problems and make changes where necessary.

Despite the issues arising, it does not imply that technology prediction 2020 will be bad enough to embrace the changes.

Technology is a continuous process that keeps changing by injecting new trends in businesses and doing away with incompetence trends. Let us discuss the trends below, which every CIO should know.

Slow adoption of Virtual Reality and Augmented Reality trends

One fact is that big companies in the retail, manufacturing, and building construction industries, among others, embrace the use of augmented reality; the entire progress is taking a long time to be effective. Most of the VR and AR projects are game-related, comprising 59%, according to XRDC research. However, in the training and education sector, VR and AR keep growing bigger and better.

VR

The rate at which augmented reality has been growing for the last 2 years is quite low, a trend that won’t change in 2020. However, the good news is that other AR trends are projected to improve the e-commerce business in the year 2020 with the help of new technology.

Most of the business brands are set to follow the steps of Instagram, which use AR lenses to create a digital experience for their products. The AR lenses and filters are growing fast, but developers need to be extra cautious when using them.

In mobile apps and web pages, augmented reality is projected to be of great importance because of its effectiveness and convenience for users.

In 2020, applications like Adobe’s Aero and iPad apps are expected to grow more. In Adobe’s Aero, developers will be able to create AR experience easily without coding. For the case of the iPad app, users will be given a guide, step by step, on how to create AR scenes.

Internet of Things

Internet of things involves the interconnection of devices with the help of internet services, which enable the devices to exchange data. The IoT trend has led to the growth of more devices and therefore increasing the ecosystem.

Internet of things

In the past years, many organizations have been collecting data and using the collected data from smart devices for their own advantage. However, in 2020 the internet of things is set to take a new dimension whereby organizations will be using the collected data to improve customizations and create intelligent systems. In the end, companies will be able to develop a robust system with easy and short steps.

Another area where the internet of things is expected to grow is the endpoint growth whereby devices such as smart air conditioning, smart meters, and smart lighting are projected to increase in the market in the year 2020.

Open & Decentralized Finance

In the year 2020 and the years to come, financial institutions such as banks are set to take a new direction to improve their operations. Technologies such as the idea of open-source finance, which is an ecosystem of shared services that brings companies and users together to make the operation more productive, will be the trend.

Decentralized systems

Distributed technology will make work easier for all the financial institutions when it comes to borrowing, lending and other related financial activities. Financial institutions such as banks will use distributed ledgers when releasing bonds due to the evolution of modern financial tools. On the other hand, payments will be made with permission-based strategies to improve speed and security.

Another fantastic trend in finance for 2020 is the facial recognition technique. In this era, a lot of smartphones already use this technology. Financial institutions are also in line to improve customer experience with the use of facial recognition. Customers will soon be able to verify their accounts when accessing different services from finance departments. Facial recognition technology is already effective in Mexico. This means that other countries will follow the same trend in 2020.

AI Trends

The media industry is a robust platform. The AI technology in media gives room for more positive changes on how to improve the media to produce great content within a short time.

AI

Dealing with fake articles has been difficult over the past years. However, improved technology like Computer Science and Artificial Intelligence Laboratory is set to improve the sector by fighting such fake articles. Other companies have joined the revolution, and we can expect a lot of changes in the year 2020.

Conclusion

Each year comes with different strategies on how to improve the technology sector in the field of business. The year of 2019 was the year of data security. In the year 2020, we expect a lot of improvements in the IoT, finance, and Media sectors.