Top 10 Technology Trends with Lasting Impact on the Software Industry – Part 2
13 December 202118 September 2019 | Software
We resume our discussion about the most influential technology trends for the software industry in 2019 and beyond.
The second half of the top 10 technology trends that will have a lasting impact on the software industry that we propose includes:
- Augmented Analytics
- Autonomous Objects
- Human Behavior Modelling
- 5G Enabled Smart Phones/High-Speed Devices
6. Augmented Analytics
We consider augmented analytics the place where big data and machine learning meet. For those who are not familiar with the term, machine learning is the scientific study of algorithms and statistical models that computer systems use to perform specific tasks.
Big data is a term used to describe massive sets of structured and unstructured data that are difficult to process with conventional methods. Augmented analytics can extract actionable information from data that used to be too costly to process.
With the rapidly increasing volumes of data stored online, drawing this meaningful information puts considerable pressure on our computer systems. The gain in popularity of the IoT sector requires more computational power, which we will get from stronger hardware like quantum computers and better software.
We can teach our machines how to direct all the unsolicited emails to the spam folder or to extract meaningful patterns from complex financial data. Likewise, we can teach computers to forecast our online behavior and serve us with the most appropriate response at any given time.
If one browses through certain types of items on an e-shop, they will most likely receive recommendations for similar products. The same goes for searches on reservation sites like booking.com. One’s actions on such sites trigger email recommendations for properties at the same or a nearby location and for the period of the year used in searches.
Medicine is one of the fields that will benefit greatly from the convergence of big data and machine learning. Diagnosis and treatment selection are complex tasks that require access to the entire patient’s dataset and the precise recollection of all the clinical signs and symptoms of many diseases. To further complicate things, many diseases have identical symptoms. In addition, some patients experience only a few or none of the most frequent symptoms of the disease they suffer from.
Based on the patient’s dataset and a symptom checker application, the computer can recommend the most likely diagnostic and customized treatment. The patient’s chart may include the chronic diseases they suffer from, the history of previous conditions, genetic information, workplace risks, diet, and so on. Exploring all the possibilities without the assistance of AI can be impossible at times or at least take too time-consuming. In addition, old-fashioned clinical evaluation can lead to misdiagnosis.
Augmented analytics can identify hidden patterns in the data and removes the personal bias and limitations from the decision-making process.
According to Gartner, more than 40% of data science tasks will be automated by 2020. As more and more enterprise applications will have augmented analytics and insights embedded, companies will benefit from this trend. These features will increase the speed and precision with which companies generate analytics insight.
7. Autonomous Objects
Already mentioned in the paragraph on Artificial Intelligence, autonomous objects will become increasingly present in our lives. We can purchase household cleaning robots on Amazon.com, find self-driven loading and unloading platforms in most warehouses and land into the self-driven cars that make Dubai’s police proud.
The intelligence incorporated in some of these devices reached levels we would not have dared hope for a few years ago. Drones “teleported” from Sci-Fi movies into our lives in next to no time are present in almost every piece of land used for recreational purposes.
There are five categories of autonomous objects at the time: robots, vehicles, drones, appliances, and agents. According to T. Bösser, “Autonomous agents are software programs which respond to states and events in their environment independent from direct instruction by the user or owner of the agent, but acting on behalf and in the interest of the owner”. The environment can be not only physical but also digital.
Common to all these types of objects is the ability to do what they are taught, coordination and intelligence. Some need human assistance, while others can operate completely autonomously. The road from today’s systems to the fully autonomous robot that can clean all floors and stairs of a multi-story house may be a long one. It will also be full of surprises and rewards and give software companies plenty of exciting projects to work on.
8. Human Behavior Modelling
Many computer applications are now designed to build our digital identities. They do this by analyzing the data that we disclose in our profiles and tracking our behaviors inside them. The convergence of AI, IoT and data augmentation will improve the behavior models derived from those profiles and our actions, helping businesses build lasting customer experiences.
The current e-Shops and reservation websites can predict our current buying intentions. Based on these predictions they can serve us the information that is most likely to trigger our purchase. Their improved versions will anticipate where we would like to travel 6 months later, what type of property we prefer and how far from the main roads the property should be located. Armed with this information, they will make us truly personalized offers.
Today’s behavioral models work relatively well for individual transactions. Their next generations are expected to help build lasting customer experiences by providing personalized recommendations and choices.
Keeping the digital identities of their customers updated and understanding and predicting their perceptions will allow organizations to deliver personalized services at any given time.
Forbes predicts that perceptual process programming will become a focal area in software development.
9. 5G Enabled Smart Phones/High-Speed Devices
The promise of wireless access to the internet within our homes and offices seemed too good to be true until recently. With 5G, network providers promise gigabit speeds, at which even the most memory consuming graphic applications will run great.
We will be able to run cloud-based VR and AR applications, video games, and machine learning algorithms from a remote server. While the network infrastructure is almost ready for the big leap, the first 5G enabled mobile phones will only be launched by the end of 2019. Mobile phone developers like Samsung, Huawei, Motorola, OnePlus and Xiaomi announced their first 5G models.
Like with any breakthrough technology, we will pay premium prices to take the ride. Both the devices and the data transfers are expected to make a dent in our pockets. Given the pace at which wireless technology has been evolving, we expect 5G to become affordable in a very short time.
The leap to 5G has the power to re-shape our behaviors in significant ways. We expect an unprecedented surge of requests for telecommuting. Who would not want to work from a remote chalet or an isolated beach? With 5G on your mobile devices, nothing will stop us from mixing business with pleasure.
Wise business owners will not see anything wrong in this behavioral shift since a relaxed atmosphere induces happiness and increases productivity. We will want more money to afford this lifestyle and work harder for that.
With the increased speed and reach of wireless internet, demand for mobile applications will mount. We are addicted to our smartphones, even with 4G. Imagine the “madness” that 5G will bring. We will run nearly any type of computer application from almost anywhere on earth.
We live in a world that is increasingly ruled by machines connected to the internet. Each such connection is vulnerable to attacks from hackers. AI, extended reality, IoT, autonomous objects and 5G are on the rise and require access to the online space to work. Add to this the unprecedented spread of digitally driven businesses and it becomes obvious that the opportunities for cyber-crime will keep growing for a long time.
What can be done to address this situation? The individual can use better and up-to-date anti-virus and anti-malware protection, coupled with strict firewall rules. While this may sound far-fetched for most people in their forties or older, younger generations are better equipped to draw the most from such applications.
Many schools have already adjusted their curricula to prepare the students for a world ruled by machines. The others will have no choice but to follow suit. Organizations must collaborate with their entire ecosystem of clients, partners and collaborators to minimize their exposure to risks.
The products and services provided online by organizations are all potential targets for cyber-attacks. Furthermore, each network connection in a digital ecosystem is a possible point of attack. To address and mitigate these risks, all its members must work together.
No single organization can tackle cybersecurity. With the increasing complexity of the online space and organizations’ digital ecosystems, only cooperative action can produce the desired results.
According to the State of Cybersecurity Report 2018 by Wipro, 88 records were lost or stolen every second in 2017. Technology was the worst hit of all the industries.
We all want to feel secure at any given time. This basic need of human nature creates opportunities at an unprecedented scale for software companies specialized in computer and network security. Countless software houses can thrive in a market of such size. Even software providers that do not wish to specialize in security must address the vulnerabilities of the applications that they produce.
The trends presented in this article create countless opportunities for software development companies.
Applying augmented analysis to fields that require complex and fast decision making is one of the most lucrative paths that software companies can choose. These fields may be medicine, trading, autonomous programming, predicting human behavior to build lasting custom experiences or drawing upon the niches that the 5G technology will open.
Another equally profitable area is cyber-security, as companies need to address the omnipresent and intensifying threats from the digital space.
Building smart strategies around these trends will give software companies the chance to thrive in the most dynamic business environment mankind has witnessed so far.