Savvy entrepreneurs and executives pride themselves on their own vision. Excellent leaders are always looking forward, looking to see how markets, technology, and consumer behavior will change over time. An excellent leader also embraces the fact that things are constantly changing. They use it to their benefit and do not resist the change.
The first quarter of a new year is an excellent time to envision how markets and innovations will change over the year ahead. What technologies will be devised, and which ones will hit mass adoption?
These questions can allow you to isolate the core tendencies for a brand new year, and anticipate how they could improve or interrupt your business, or create new opportunities that most people don’t see yet.
Artificial Intelligence (AI)
This is the most obvious addition for a reason: AI is everywhere. The main reason AI is exploding is that its applications are almost limitless. It has the power to impact every digital marketplace: from cybersecurity to healthcare.
Expect to see AI-driven solutions continue to get gigantic attention in fundraising, acquisitions, and competition over talent. LinkedIn said that AI specialist positions were one of the fastest-growing job titles heading into 2020.
Some of the more visible applications of AI include smart assistants, chatbots, and self-driving cars. Yet savvy entrepreneurs and executives ought to be considering how AI will alter their business, or create new ones. You should also be thinking about how AI can interrupt you when you already own a business.
Edge-computing for video
Requirement on server infrastructure continues to increase as a growing number of devices are connected to the internet and each other. This is particularly true for movie camera-based solutions that need continuous video streaming.
By moving the computation to the border, video providers can significantly reduce server costs and include core functionalities that weren’t previously possible. Investors see this and are flocking to startups that offer platforms for artificial intelligence, computer vision, and machine learning.
Lots of these are on the cloud, so search for a change to edge computing. That is where the trend will probably go for price mitigation purposes and to add new capabilities.
This new category of the automotive sector dominated CES 2020. The sheer industry size and growth potential are drawing the attention on automobile companies and technology suppliers. There are loads of opportunities in B2B and consumer markets.
While it’s likely you won’t be driven by a computer within the next couple of years, this sector continues to attract enormous investment and high talent. It’s also probable that the business will experience consolidation. One thing is sure: this industry is going to be a yearly top technology trend for the near future.
The obvious place to focus is on the driving technology, however, do not lose sight of the new opportunities created by passengers no longer having to concentrate on driving. Watch for new services and features which will cater to health, focus, entertainment, comfort, and productivity while somebody is pushed in the car.
5G is the perpetual buzzword in the technology community. It is being hailed as the latest industrial revolution (even though it’s more of an evolution of technology versus a revolutionary new technology), and proponents are around each corner to urge for the new and speed capabilities it provides.
The tendency to watch inside 5G is the way the carriers and phone manufacturers continue to put money into, and successfully roll out, 5G infrastructure in their phones and networks, respectively. Also, consider how a mobile signal could be as fast as Wi-Fi may empower your products and solutions.
Finally, expect what new alternatives will be possible and ascertain how to build now for this future.
Finance will continue to decentralize
Initially, you might hear”finance” and”decentralize” and instantly think of cryptocurrencies. That certainly applies to tendencies for 2020, yet there is also another trend to watch in the fields of investments and finance.
In conventional finance, we are seeing a shift in power toward individual investor empowerment. Startups like Robinhood are bringing waves of fresh amateur investors (particularly millennials) and the majority of the significant traditional brokerages (Schwab, TD Ameritrade, etc) have dropped or will fall, commissions, and fees for trading stocks.
Once you also consider new robot-trading solutions can outperform stockbrokers and hedge funds, it’s easy to see that we are entering a new wave of fund which is more decentralized than ever. The power is shifting to the retail investor.
There is no question that conventional retail continues to be significantly impacted by Amazon’s dominance in e-commerce. It looks to be an almost foregone conclusion that retail is dead.
Computer vision, machine learning, and artificial intelligence is now able to analyze data from sensors and cameras to re-invent the purchasing experience and drive new efficiencies.
San Francisco based startup, B8ta, has shown that technology can create a new shopping experience. Their retail locations use a range of technology to not only enhance the offline retail experience but also to find out more about customer involvement and merchandise sales.