The development of innovative technologies has become a major branch of the economy.
The IT market is currently growing very dynamically. In 2018 its value will exceed 3.65 billion dollars, which means that the annual growth rate will be 4.3%.
What technologies will be developed in the coming years, what factors will be most significant on the market in 2018?
Robert Strzelecki, vice-president of the TenderHut capital group, talks about the newest trends in the industry.
1. Internet of Things
The development of consumer electronics towards the Internet of Things (IoT) will continue to be a significant trend for the next couple of years.
By 2020, 95% of new electronic devices will be equipped with a module enabling data exchange.
An interesting fact is that the coming year may bring the development of the Internet of Things to a higher level, where devices will not only transmit data, but also communicate with other devices. All because of the Bluetooth 5.0 technology and the mesh functionality, which makes it possible to connect to devices equipped with this feature. Additionally, besides consumer electronics, there will be additional applications of this technology in retail trade, health care and logistics. One of the examples of applying intelligent devices outside consumer electronics is their popularization in marketing, which has been developed online until now. Today, we can observe the transfer of marketing from web to mobile platforms. Companies are working on the optimal commercialized personalization of their solutions, and the Internet of Things may be a key to success –says Robert Strzelecki.
Additionally, the IoT generates a large amount of data, thus creating new challenges for analysts, who at the same time are systematically being replaced by artificial intelligence and machine learning solutions, which are capable of processing such large amounts of data.
2. Artificial Intelligence (AI)
Last year was very interesting with regard to information about artificial intelligence – both its supporters and opponents struggled with each other in the public discourse.
The AI market will be worth approximately 5.05 billion dollars in 2020. Also, Sophia, the first digital citizen, emerged, a cyborg that was granted citizenship by Saudi Arabia.
It’s true that both the advantages and the risks of uncontrolled AI development are being widely discussed. However, 2018 is not yet the time when we have to worry. The coming year will bring us broader popularization of AI algorithms in everyday life. A good example is allowing deep learning programs to take over the processes of portfolio management, 20% of which are already being managed by artificial intelligence. This is just one of the elements of applying AI solutions in the FinTech industry – explains Strzelecki.
According to Market Reports Hub, the global blockchain market will grow to2.3 billion dollars in 2023 from the current 210.2 million dollars. This technology emerged as a link between finance and the virtual world and is developing dynamically.
Blockchain is an example of a solution that has, in fact, surpassed the product it was designed for, namely bitcoins. Payments via blockchain technology are a kind of certificate of fair trade principles. It is free of fraudulent transactions and transparent. The solution has astonishing results in the area of data encryption security. It is still a relatively new technology, which means that the required legal regulations have not been established yet. In 2018, relevant proposals of legal acts will be presented in order to deal with this issue. What’s interesting is the fact that Poland is working on its own digital currency, named Digital PLN (dPLN), which will be based on the Blockchain technology –says Robert Strzelecki.
4. Intelligent app
Over the last few years, we have observed a trend in developing apps, which ensures that solutions are more personalized in order to meet the client’s expectations.
2018 will be the same, but the solutions will additionally be upgraded by AI algorithms. Apps will become more and more intelligent. They will be capable of learning users’ preferences, habits or methods of spending free time. This will allow us, the users, to get what we are looking for. However, these solutions come with a price. The virtual currency of which I am speaking is data concerning us, the users, which is being gathered into packages (excluding personal data) and used by companies in order to create products and services meeting the client’s preferences. This is why data security is such an important issue – says the expert from TenderHut.
We are surrounding ourselves with technology, which has numerous advantages but also poses risks to our personal safety.
Since the 25th of May 2018, the European Union implemented a regulation concerning data security (GDPR), which defines how companies should store, process and secure personal data.
Here, like in other industry branches, artificial intelligence will be used. AI algorithms will anticipate and identify attacks. What other issues will be significant in 2018 regarding cybersecurity? New challenges, such as the ongoing development of IoT and methods of securing this data. Safety on networks and improvement of protection are a challenge for many organizations that encounter this issue –adds Strzelecki.
6. Bots – always ready to help
Chat-bots are becoming more popular every year. According to a survey by Oracle, 80% of marketers are planning to use chat-bots in the next 36 months. Currently, approximately 36% declare use of this technology.
While the older generations still prefer to contact a real person, Millennials or members of generation Z converse with chatbots every day in order to acquire information or for entertainment purposes.
That is why in 2018, companies will try to make chat-bots more human. How? Again, by using Artificial Intelligence and machine learning. In order to make bots more human, it will be important to improve voice synthesizers, like the Polish Ivona from the Ivo Software company, which was taken over by the American giant – Amazon. The company is currently implementing a Text-to-Speech solution called Amazon Polly. This shows the potential of the market and an obvious trend to make bots more human. Our company, SoftwareHut, designed a TravelBot, which checks in to flights for the passenger and communicates with them via Skype. It is an app for airport check-ins and part of a R&D project for business and leisure tripsthat uses Machine Learning services to communicate with the traveler– explains Robert Strzelecki.
7. Virtual and Augmented Reality
Numbers speak louder than words when it comes to this technology. IDC indicates that the virtual and augmented reality market will grow to more than 162 billion dollars in 2020.
Poles are also working on improving this technology. As an example, we can mention a company called Solution4Labs, which adapts HoloLens – AR goggles from Microsoft in order to support performance in modern laboratories.
This fantastic technology is still expensive for a typical user. That is why in 2018, a trend of renting AR/VR equipment will occur. This will allow more users to have access to this technology. I’m certain that the first cinemas or rooms where we will be able to experience virtual reality will be created in 2018. Data from this commercial application will be used for developing other services. Currently, Facebook, Samsung, Microsoft, HTC (Google and Apple are a little behind) have advanced projects in this field, but the technology is also becoming more popular in medium enterprises from different industries. What does this mean? In 2018, we will learn about new capabilities of such solutions that can simplify our life. This can mean a bright future for VR/AR in the industry of engines, 3D printing, fitness and laboratories – says Strzelecki