10 Strategic Technology Trends for 2021

Current trends, studies and research on technology and IT

Technology has not only been an important factor for financial service providers since digitization. In the Bank Blog you will find studies on the most important trends and developments.

Strategic technology trends have the potential to both create new opportunities and cause significant disruptions. Successful companies therefore start evaluating them at an early stage and align their innovation strategies accordingly.

The market research company Gartner sees ten technology trends with substantial disruptive potential for 2020 that are emerging and gaining in importance or have already started to establish themselves in companies. These trends are characterized by profound effects on people and the spaces in which they live.

1. Hyperautomation

Automation uses technology to automate tasks that previously required people. Hyperautomation is concerned with the application of advanced technologies, including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes and support people.

Because no single tool can replace humans, hyperautomation includes a combination of tools, including robotic process automation (RPA), intelligent business management software (iBPMS), and AI with the goal of increasingly AI-driven decision making.

2. Multiexperience

Multiexperience replaces people with technology skills by technology with people skills. In this trend, the traditional idea of ​​a computer is developing from a single interaction point to multi-sensory and multi-touchpoint interfaces such as wearables and advanced computer sensors.

New human-machine interfaces play a crucial role in this. Voice assistants such as Amazon Alexa or Google Assistant will continue to spread as natural language control options for devices and machines. Virtual Reality (VR), Augmented Reality (AR) and Mixed Reality (MR) are also changing the way people perceive and interact with the digital world.

3. Democratization

Democratizing technology means giving people easy access to technical or business expertise without extensive (and costly) training. It focuses on four key areas - application development, data and analysis, design and knowledge.

4. Human augmentation

Human augmentation is the use of technology to improve a person's cognitive and physical experiences. Examples can be the implementation of a chip or intelligent clothing and devices (wearables).

The following four areas can be distinguished for physical augmentation:

  1. Sensory augmentation (hearing, seeing, perception),
  2. Augmentation of limbs and biological functions (exoskeletons, prosthetics),
  3. Brain augmentation (implants to treat seizures) and
  4. Genetic augmentation (somatic gene and cell therapy).

5. Transparency and traceability

The development of intelligent technologies also leads to a crisis of confidence. As consumers become more aware of how their data is being collected and used, businesses are also realizing the increasing need to securely store and collect data.

As artificial intelligence and machine learning are increasingly used to make decisions instead of people, the crisis of confidence continues to develop and increases the need for ideas such as explainable AI and AI governance.

This trend requires a focus on six key elements of trust:

  • Ethics,
  • Integrity,
  • Openness,
  • Accountability,
  • Competence and
  • Resistance.

6. Edge computing

Edge computing is a technology that places information processing and content gathering and delivery closer to the information sources with the idea that local and distributed traffic rates reduce latency.

This includes all technology in the Internet of Things (IoT). Empowered Edge is studying how these devices are growing and building the foundation for smart spaces, and moving critical applications and services closer to the people and devices they use. By 2023, there could be more than 20 times as many intelligent devices on the edge of the network as in conventional IT roles.

7. Distributed cloud

Distributed cloud refers to the distribution of public cloud services to locations outside of the cloud provider's physical data centers, which are still controlled by the provider. In the distributed cloud, the cloud provider is responsible for all aspects of the architecture, provision, operation, management and updates of cloud services. The development from a centralized public cloud to a distributed public cloud heralds a new era in cloud computing

8. Autonomous things

Autonomous things, including drones, robots, ships, and devices, use artificial intelligence to perform tasks that are normally performed by humans. This technology works with a spectrum of information that ranges from semi-autonomous to fully autonomous and in a variety of environments including air, sea and land.

The best-known example is probably autonomous driving , which affects not only cars and trucks, but also ships and planes. But robots, drones and various other devices can also act autonomously.

While currently autonomous things mainly exist in controlled environments, such as a mine, a factory or a warehouse, they will also operate in open public spaces in the future.

9. Practical blockchain

The full blockchain model consists of five elements:

  1. A shared and distributed ledger,
  2. An unchangeable and understandable ledger,
  3. Encryption,
  4. Tokenization and
  5. a distributed public consensus mechanism.

Blockchain has so far remained immature for companies due to a number of technical problems, including poor scalability and interoperability. Therefore, corporate block chains today take a practical approach and implement only some of the elements of a complete block chain.

In the future, real blockchains will have the potential to change industry and ultimately the economy, as complementary technologies such as AI and IoT begin to integrate alongside blockchain. This extends the type of participants to include machines that can be used to exchange a variety of assets - from money to real estate.

10. AI security

Advanced technologies such as hyperautomation and autonomous things offer transformation opportunities in the business world. However, they also create security gaps in new potential points of attack. Security teams need to address these challenges and understand how artificial intelligence affects them

Infographic: Top Ten Strategic Technology Trends for 2020

The following infographic shows an overview of the ten strategic technology trends for 2020:

Infographic: Top Ten Strategic Technology Trends for 2020

Top ten strategic technology trends for 2020.

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