Digital-Business Transformation Technology

The Next Digital Technologies That Need to be on the Watch-List

Digital transformation has already reshaped all aspects of the business. Especially is large a digital transformation in banking. However, this is just a beginning. Given the speed of digital technology developing, those who do not get involved on time will not be able to keep pace with others. Take a look what are the next digital technologies that need to be on the Watch-List.

Digital Disruptive Technologies

Evidently, disruption of the business became our daily reality. Changes are so fast that we cannot ignore them. In addition, technological changes bring so many advantages that you must implement them if your goal is the business success.

Digital disruptive technologies can be divided into strategic and tactical. Some of them are already entered into the market, while others are still emerging. If you adopt the newest strategic disruptive technologies, you do not need to worry about your future. However, you can also start with tactical digital technologies and then gradually implement the latest strategic digital solutions.

Digital Business Transformation Technologies

Digital transformation in Banking

Apparently, the largest digital transformation has happened in banking. Fintech has brought so many new inventions from mobile wallet to blockchain distributed ledger that banking is now totally different than before. Who knows what would be the next?! Disruptive startups have already made alliances with large companies to further develop blockchain technology. Blockchain market will worth $5.4 billion by 2023, while mobile banking is expected to rise to $1.7 trillion industry by 2022. In line with that is also the development of the mobile business apps. Although there are some issues to be solved, this industry will grow by 14% per year and earn $100 billion yearly by 2022.

Artificial Intelligence

Artificial intelligence (AI) is the top priority for both venture capital and companies. It is definitely the future of the business in which worth to invest. It is a part of the Fourth Industrial Revolution that merges physical, digital and biological realms in totally new ways. Artificial intelligence increases the analytical and data processing capabilities and allows automation and customer engagement. It provides collaboration of advanced learning machines and humans in solving extremely complex problems. Its time yet to come! The industry will grow by even 52% and reach a $36 billion market by 2025.

Internet of Things

Internet of Things (IoT) is another technology that will reshape our future. It is the system of interrelated devices that allows the global transfer of data and two-way conversation without human-to-human or human-to-computer interaction. Internet of Everything (IoE) has even higher strategic value since unites connectivity and intelligence in devices making them much smarter. The IoT market will worth $267 billion by 2020 and the IoE market $7 trillion.

Big Data Analytics

By combining tactical analytical solutions and strategical business intelligence in Big Data technology, companies can timely analyze an extremely large amount of data. The system provides accurate information about what your customers think, what they expect from you and thus allows you to find the way to satisfy them better. How this is valuable is showing the prediction that the industry will worth $203 billion by 2020.

Machine Learning

Machine learning allows learning from data through simulating human intelligent skills and abilities in machines. It uses a set of algorithms that run a smart predictive model which learns from data. The greatest benefit of this technology is that the predictive model continuously improves itself over time because it learns from a constantly updated dataset. Imagine how your performance would be if you would have almost the totally accurate predictive model for the future. Your business risk would be minimal. Therefore, it is no wonder that this technology is estimated to grow to $3.76 billion by 2021. Microsoft, Amazon, and Google already offer Machine Learning as a service.

Therefore, do not waste time. Keep pace with new digital business transformation. Implement the new tech solutions right now!

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