Look no further than the technology world for indicators of the future. In adapting to new technologies and industries, businesses are constantly being evaluated and updated. As a result, companies continuously improve their products and services to stay competitive. The market is also dynamic at any given time, with new challenges emerging all the time. This means it is important to have accurate indicators that help monitor the changes in the industry and their impacts on business strategies. To achieve this, we have developed five top-notch indicators that show where technology is headed over the next five years.
Digital transformation: What is it and how will it affect your company? This indicator measures three key trends within tech—digital transformation, mobile apps, and artificial intelligence (AI). While these trends may seem like non-existent developments long term, they are actually an essential part of becoming a digital leader in 2020. Here’s what you need to know about them and how you can adapt your business strategy accordingly.
1: Digital transformation: The future is digital
The digital transformation process starts with the adoption of smart devices, digital transformation software, and a digital transformation strategy. Digital transformation is the process of adapting your business strategy and products to the new digital environment. It includes adding new metrics and indicators that help to monitor the adoption of new technologies, as well as trends related to digital transformation.
2: Mobile apps: A must-have for any app store owner
The popularity of mobile apps is nothing but a positive indicator of the trend toward digital transformation. More than 90% of all app developers are fond of mobile apps, and only 21% of them are fond of digital apps.
3: Artificial intelligence: The future is embedded
Artificial intelligence (AI) is still a nascent technology in the market, but it can definitely help to forecast future trends and provide insight into trends that may not be apparent yet. In 2020, it is expected to make up between 15 and 20% of the market share of AI technologies in the general market, and it is expected to grow faster over the next few years.
4: Machine-to-Machine Communication (M2M)
In 2020, the number of machines reaching our fingertips will increase by 200 times. In the next five years, this number will increase by more than 1 million times. This represents an increase in the number of devices that can be used to communicate and interact with one another. This increase in devices poses several challenges for IT budgets, including improving collaboration and data management processes, as well as developing new Internet-of-Things devices.
5: What does M2M look like?
The number of devices that can be used to communicate and interact with one another has grown tremendously since the last survey. This means that the number of devices required to communicate and interact with a huge number of people has increased. As a result, companies will have to invest in more devices to manage a meaningful number of conversations. This investment will also have to be made in order to stay ahead of the curve.
In order to secure a competitive edge in the new digital environment, it is crucial for businesses to have accurate and updated indicators that help them monitor the changes in the technology market and their impacts on business strategies. Companies are constantly being updated on the state of the industry and the latest trends, and these five technologies help to monitor the adoption of new technologies and trends for potential investment opportunities. The future is likely to be filled with these types of technologies, and the industry has to prepare for the inevitable disruptions that may occur in the near future.