Most Effective Business Technology Trends for 2020

The year 2019 saw the rise of some interesting tech trends such as Augmented and Virtual Reality, cybersecurity solutions (and awareness), cloud integration, etc.; the year 2020 will be even more exciting. Namely, modern technologies have always had a profound impact on standard business processes and the industry in general. Failing to adapt to these changes quickly means falling further behind the competition.
To avoid such a fate, take a look at these tech trends that are expected to explode in the following year.

Automation of Menial Tasks

Let’s face it: nobody likes doing repetitive tasks; the least of all your employees. Luckily, at the moment, there’s an increasingly popular trend among companies for dealing with all non-essential processes — automation. Smart AI and the latest software are used to cut down on costs and boost productivity, allowing companies — particularly small businesses — to focus on development and growth.
Consequently, brands no longer have to pay thousands of dollars for someone to fill in Excel spreadsheets, log inventory, and take care of invoices and payrolls. According to Statista, by 2020, the global business process automation market is estimated to grow from an already strong $10 billion to $12 billion. So, say goodbye to menial labour and say hello to automation!

Cloud Services

As the year 2019 slowly comes to a close, we will see more and more businesses flying to the cloud. For many startups and small businesses utilizing cloud software is almost a must. At the moment, this is probably the single most cost-effective way of securing and streamlining your freshly-launched business.
Hence, new innovations in the sphere of cloud computing shouldn’t come as a surprise then. The so-called hybrid (multi-cloud) solutions are already out there, making cloud services truly a Heaven on Earth. Brace yourself as you’ll probably be hearing this new cloud ‘buzzword’ a whole lot in the near future.

Identity Verification

The Internet is filled with scammers and fraudsters — hence why an identification verification solution sounds so appealing to many a brand. One company, in particular, Data Zoo, uses the latest biometric verification technology to scan documents in real-time and capture its particulars (as well as photo particulars within the document itself). To verify your identity, you only need take a picture of yourself and the software runs a matching diagnostic to compare the image you’ve supplied with the picture within the government document; your DOB, name, and address are also verified and compared against third-party sources or government archives.
The end result: a technology that removes all the hassle connected with manual data verification that also lowers the risk of malicious and fraudulent use of personal data; just the thing brands need in this increasingly deceptive virtual world.

AI-Driven Decisions

Making business decisions is never easy — or is it? With the rise of smart AI, Big Data has come within our grasp. Data-driven decisions are the name of the game in the business sector as of now. As a result, corporations are constantly on the lookout for new ways to implement AI into their core business processes. The main goal is to create a digital oasis where man and machine will work together toward harnessing the awesome power of data-driven insights.
According to a report made by Deloitte, we are currently seeing only the tip of the iceberg; more of this ingenious technology is yet to come.

Chatbots and Sentiment Analysis

Robots aren’t the grim killing machines as they are so often depicted in movies. In fact, they’re quite the chatterbox I hear. Now, mind you, these bots aren’t exactly Wall-E level yet, but they’re good enough for your brand’s website and its audience.
Thanks to deep and machine learning, chatbots can now engage in more meaningful discussions with customers. The system that powers their new-found linguistic capabilities is called natural language processing (NLP). With it, they can perform human-like conversations and answer most inquires supplied by users. Currently, some 40% of large businesses have already adopted this technology (or plan to do so); time to follow suit.
Based on the evidence, we can only surmise that the year 2020 will be filled with new, exciting prospects and innovative technologies for business use. Let’s wait and see.