Deloitte has announced the key technology trends that will impact business in the next 18 to 24 months in its annual Tech Trends report.
The report, now in its eleventh year, looks at the opportunities for new technologies in business, the risks that they pose and the companies acting as pioneers for their use.
Nick Smith, the partner in technology strategy and transformation at Deloitte, explains: “Digital transformation promises to overhaul business in unpredictable ways.
“Technology leaders must assess the opportunities landing on their doorsteps, and act decisively on those which have the potential to solve their business challenges. Fundamental to successful digital transformation will be employees and customers being confident in using new applications, and trusting the way data is being handled.
“Many of us in 2020 are still using systems built in the 1980s. The legacy of technology leaders will be designing systems that are relied on for decades to come.”
Deloitte’s 2020 Tech Trends include:
Macro technology forces
- For a decade, Deloitte has been tracking the growth of emerging technologies including analytics, cloud, digital reality, and blockchain. To reap the benefits of new technologies, organizations are now exploring how they can work together to create even more value.
- This is becoming more important as businesses prepare to tackle technologies on the horizon: ambient experience, exponential intelligence, and quantum.
Ethical technology and trust
- Leading companies are realizing that every new technology application presents an opportunity to gain or lose trust. Business leaders are re-evaluating how their products, services, and the decisions they make—around managing data, and training employees, among others—build confidence.
- Companies that embed organizational values and tech ethics across their organization can create a long-term foundation of trust.
Finance and the future of IT
- More IT and finance leaders are working together to develop flexible approaches to build new applications incrementally, in an Agile approach, in order to defend against disruption, or enable digital transformation.
- The CIOs and CFOs that are among the first to work in this way will enjoy the competitive advantages that come when finance funds innovation at the speed of Agile.
Digital twins: Bridging the physical and digital
- Organizations are developing digital twins, a digital simulation of physical systems, assets or processes. As their capabilities grow, digital twins are being used to optimize processes, make data-driven decisions in real-time, and design new products, services, and business models.
- Digital twins have the potential to increase efficiency in manufacturing, optimize supply chains, transform predictive field maintenance, aid in traffic congestion remediation, and much more.
Human experience platforms
- Human experience platforms are one of the biggest, most important opportunities for companies.
- In the coming months, companies will ramp up their responses to a growing demand for technology to better understand humans and to respond to instructions more appropriately. Combining AI and human-centered design techniques, human experience platforms will be able to recognize a user’s emotional state and the context behind their actions to then respond properly.
- Technologists will take more responsibility for services and systems. Likewise, they will become involved in system operations. The goal will be to move the most experienced architects into software development teams to design complex technology.
- Investing in technology architects and architecture will grow the importance of the IT function and its place as a competitive differentiator in the digital economy.