Digitization of businesses and industries requires a more advanced way of functions and processes to meet the ever-changing needs of the market. Now, loads of data and information is our fingertips away to accelerate the processes through improved technological advancements. The Technology and Development Trends in businesses has distorted the difference between physical and digital spheres.
As we are entering into another year of digital and industrial revolutions, taking a look at major technological evolutions in 2019, 2020 is expected to bring more development in technology.
Artificial Intelligence and Emotional Intelligence Converge
Every customer has some basic needs that need to be fulfilled in order to get satisfied. Customers want to feel important, get heard and respected by the seller. This results in the emergence of “empathetic AI.” This practice is expected to be increasingly implemented in customer service. The use of Empathetic AI in customer service also helps to monitor customer engagement in the product and shop. Accenture recently reported that AI is capable of adding $957 billion in the overall revenue of industries using it by 2035. We expect this trend to get in fashion in 2020. More and more companies will leverage empathetic AI in their businesses to accelerate their benefits to the next level by making improved user experience and increased productivity.
Workers Looking to Save Time will Kick Demand for AI into Overdrive
2020 will bring major changes related to the workplace, and we expect to see better Technology and Development Trends in the workplace. As we are moving ahead in a technological era, technology has benefited us with better assistants. Now more people prefer AI assistance over humans as office assistants. Since the workers are now getting more receptive to automation and AI, more changes are expected. For instance, millennials mostly cover the workforce of current times, and they are comfortable in using AI instead of incorporating with humans for assistance and work needs. Moreover, when it comes to consumers from this generation, they prefer to get customer support and automated product recommendations. They are more comfortable with AI to enhance their experience while watching their favorite shows and sports.
A majority of people have shifted their trust in AI to work with and get their routine tasks automated. This will eventually lead to better productivity and increased economy. Employees would need to leverage automation in industries and workplaces to make them more productive and beneficial.
Machine Learning Moves from an Innovation to an Everyday Function
Every day, individuals, businesses and industries are getting fascinated by the innovation of Machine Learning. However, moving into 2020, machine learning will be seen as more of a mainstream form of technology proliferating under tech services everywhere. It will also largely impact everyday workflows and systems.
We can say that it will be felt less and impact more in our everyday lives. No matter how minor or major your needs are, from task scheduling, processes, and expense reports, machine learning will be used in performing a portion of tasks or even complete tasks. Tasks done by using machine learning are more accurate and fast than when they are done by human beings.
There will be better solutions that are capable of predicting expected expenses for a particular location based on previous visits of people with similar taste and status. This will enable a fast process of filling expense reports with predictions. Top machine learning companies will benefit from this familiarity of machine learning among common people, and more and more people will start working on machine learning. Moreover, the ease of use and familiarity of machine learning is expected to enable humans to turn their interest and put more efforts into more productive and creative tasks. This trend will fetch more assistance and advantages in 2020 and beyond.
Data will Become a Decision-making Tool
Along with other major changes, 2020 will make use of data as a real-time decision-making tool. This will give fast growth to several business functions. The upcoming years will provide more and more organizations with the realization of the potential of their data to make intelligent business decisions. The data will be used to reach higher levels of success and achievement. Looking ahead of 2020, businesses making use of data will be able to know whether potential suppliers’ policies follow international laws and social ethics or not. Leveraging data will also enable them to a heap of potential supply chain disruptions, for instance, a small number of suppliers concentrated in a region vulnerable to weather or manmade disasters.
Safety will be improved with increased Employee Satisfaction
Employees’ safety will be granted protection by 2020. Employees and contradicted or under-represented groups ask for their safety while traveling for work-related and personal trips. In recent years, trip security has seen as an issue for employee satisfaction. workers are expected to largely demand more information and resources to ensure their travel security.
Wakefield recently reported that a large proportion of women are harassed while they are on their business trips and thus they want more support and guidance from their companies. Therefore, in 2020 and beyond, companies can use the latest technology to ensure their employees’ safety during traveling. Traveler safety resources can include features like Uber’s emergency button and TripIt’s neighborhood safety scores. It is predicted that 2020 will bring a good change in travelers’ security with the infusion of automation technology and thus, they will become a common part of travelers’ experience instead of an added benefit.