The emergence and rollout of new technologies are anticipated to be vital for many sectors around the globe
CB Insights highlights 14 tech trends that are expected to drive 2020.
- Deeper quantum commercialization. Quantum computers work by stringing together particles that are in a special state thus representing multiple lines of data at the same time. Nevertheless, the tech’s ability to crack codes could pose a threat to many of the encryption protocols that underpin modern communication.
- AR/VR office. These technologies are anticipated to bring a new type of virtual office, thus bringing remote workers directly into a physical space. Such big companies as Microsoft, Google, and Apple are reportedly creating headsets to catalyze the shift to virtual offices.
- Focus on healthcare products and services. Tech giants will boost their involvement in routine healthcare management. For instance, Amazon has tamed up with healthcare providers to build Alexa skills for healthcare, including checking the status of prescription delivery and scheduling urgent care appointments.
- Increased risk of cyberattacks. In 2017, a YouTube video called “Slaughterbots” showed reality in which microdrones, armed with GPS, facial recognition, and wide-lens video cameras, execute targeted assassinations worldwide. The report also focused on the ransomware attackers, who freeze computer systems and then extract cash payments from victims to free them up again.
- AI bias as a top regulatory concern. 2020 is expected to ramp up AI bias regulation at the governmental level, by implementing bias policies before any legislation is passed.
- Biohacking popularization. It covers non-traditional medicine activities including implantable computer chips and injections of CRISPR-edited DNA. The goal is to manipulate the body to push its limits and boost performance.
- Rise of the robots? Despite a big push in the robotics sector, robots’ gripping and mechanical capabilities are still limited. They are unable to carry out delicate manual tasks, meanwhile continuing to fail at basic movement-related challenges. 2020 is expected to bring nimble and gentle robots relevant to healthcare, food service, consumer electronics, and environmental monitoring.
- The new wave of investment from Saudi Arabia & Russia. For instance, Saudi Arabia’s Public Investment Fund (PIF) has made notable investments in tech startups, including a massive $3.5 billion investment in Uber in 2016. The fund also has backed tech startups including Slack, Kabbage, Paytm, 10x Genomics, GM Cruise, etc. Meanwhile, the Russian Direct Investment Fund has made tech investments from ride-hailing apps and AR to Richard Branson’s hyperloop transportation initiative.
- Innovations increase lifespans. The increasing size of the aging population raises the demand for tech aimed to improve their health and wellness. 2020 is expected to witness a boom in investment in companies focused on helping people live longer.
- Role of empathy in product design. The empathic design will continue gaining steam in 2020 since political and social pressure push tech companies to account for humanistic concerns.
- Cradle-to-cradle supply chains. They are designed to cover the entire lifecycle of a product, from input materials to manufacturing processes, distribution, promoting reuse, and recycling. Typically, the intent is to better manage waste and efficiency.
- Livestreaming as a new shopping trend. It enables users to experience the product’s look and feel before purchasing. Livestreams could be especially valuable in categories like makeup, jewelry, apparel, as well as for bigger purchases such as furniture, electronics, and sporting goods.
- More M&As in 2020. This year is expected to bring more mergers & acquisitions on a peer-to-peer level among smaller players.
- The emergence of digital currencies. We’ll be witnessing a growing interest among Central banks in experimenting with digital currencies.
We’ve reported that the fact that businesses fail to embrace digital ecosystem models can damage the company’s digital strategy.