The mass adoption of digitization is bringing about a profound change in the way businesses and consumers interact with one another. Various analytics trends are influencing businesses and driving them to provide a better customer experience. These trends have already reshaped the way businesses function, gather insights and optimize processes, and will continue to do so.
Here are the four tech trends to watch out for in 2019.
Reshaping businesses, and connecting with customers at a deeper level with AI
Out of the many applications of AI, chatbots are currently making the most noise. Few years back, creating a chatbot was a tedious task but now with the advent of AI-innovation, deployment of enterprise bots has become much easier. AI-powered enterprise chatbots can automate a myriad of labor-intensive tasks for employees, smoothen administrative operations and streamline helpdesk operation. Additionally, chatbots with their 24X7 availabilities are gradually reducing the dependency on a human for customer care and reinforcing customer-business relationships.
Leveraging Augmented Reality and revamping business operations
Though people usually relate the term “Augmented Reality” with the gaming world, businesses have also started leveraging this technology to scale businesses. AR technology is enabling businesses to get an in-depth view of granular operations, provide customers superior experience and reduce chances of errors. For example, some product-based companies use Augmented reality apps to show the features and functionalities of an offering and provide 3-Dimensional views for clear understanding by a customer.
IoT Analytics: Silver bullet for every industry
Like 2017, this year too we are witnessing huge progress in “connectivity” with more and more devices being connected. There were a lot of investments and adoptions around IoT last year and this year too businesses are pouring funds into the promise of IoT. These investments around IoT analytics will allow the businesses to gain an insight into customer preferences and choices, thereby boosting revenues, providing competitive gain, and enhancing customer engagement. Industrial IoT would vastly impact preventive maintenance procedures and help reduce costs and deliver better gains on productivity.
Blockchain Technology: Opening new forms of data monetization
Termed as the backbone of a new internet, we might see blockchain going more mainstream with multiple sectors adapting blockchains to handle data and to prevent hacking & data leaks. With wide applications like systems for digital identity, tokenization, inter-organizational data management, smart contracting, and automated governance – governments and businesses alike would find blockchain technology interesting and valuable.
Though it is hard to say how fast these tech trends will manifest themselves in our lives, we are confident that 2018-19 will bring in new job roles and opportunities for the skilled workforce with niche competencies.