The buzz among IT consulting firms around the world is how technology has changed a lot during the past couple of years and much has been introduced in terms of advancements and breakthroughs.
Technology has indeed started to permeate into the lives of people and opens up a new chapter for the history of the world. Here are four IT advances that would surely catch your undivided attention.
The growth of Artificial intelligence
Artificial intelligence remains to be one of the most pervasive subjects in the tech world and even has dug deep into finance and business.
Aside from automation, AI is reshaping the e-commerce industry by bringing in smart and evidence-based solutions to get a leg up in a very competitive market.
During the last several months, AI has introduced some cutting-edge tools such as business process automation, prescriptive analytics, and operational efficiencies.
By 2020, the AI solutions market will be valued at $47 billion and an overall growth value of more than $200 billion.
The pain of Cybersecurity
From black hat hackings to online fraud, cybersecurity remains to be a challenging area in the tech world.
There’s still much to learn and address in cybersecurity, which is predicted to cost $ 6 trillion by 2021, which is more than double the amount back in 2015 which was at $3 trillion. The losses are so huge that cybercrime has become a business of its own.
By 2019, the cost of ransomware damage is expected to reach $11.5 billion, when broken down would indicate that it victimizes one business in every 14 seconds.
Security software developer Symantec reported in its 2018 Security Threat Report that malware-laden attachments were found in 88% of malicious emails out to trap consumers.
It seems like technology has been too focused on innovation that it placed cybersecurity in the backseat.
Internet of Things
It is all about interconnectivity and that is what IoT is all about. It aims to promote the AI-driven collaboration of devices which collect data to quantify and measure product performance and market or consumer nuances.
Currently, there are 15 billion IoT devices worldwide, with the number expected to grow more than 30 billion by 2020 and 75 billion by 2025. Investments in IoT are expected grow to $1.3 trillion by 2020, even more than that of AI.
The digital transformation
Today, everything is going digital as it everything sides up to advancing technologies. Current tech advancements are designed to suit digital systems which address compatibility across all sectors.
The shift in digital systems serves to align the capabilities of technology with the addition of data-collection features to enable business analytics for use in the development of better and advanced technologies for the future.
With these focus on the following tech trends, we may be able to predict where companies such as IT services Virginia beach or elsewhere would know where to focus their attention in order to measure up to the demands of an ever-changing technology space.