Jawahar Lalla

7:41 PM, 13th Mar 2018

New Year 2018: Futuristic path ahead for the adoption of latest technology & its impact on various Industries

As the self-service products & IT technology business consulting company we would expect some new technologies being incorporated and all would be centred around digital transformation and its impacts on various industries. 

These predictions & compilations’ are based on various market research firms trends & analysis. 

Economies are growing. Stock markets are climbing. Business growth is emergent. GDP is poised to rise in coming year these are all positive signs of the coming year 2018. 

The technology and companies would revolve around Customer experience (CX) & it would become the centrepiece of their business strategies. 

Make room for new emerging and upcoming technologies like IOT, Data Analytics, Blockchain, AI, VI, Chatbots Robotics Cloud Mobility, Cyber Security to name the few. The adoption & implementation of these technologies would bring the new business revenues streams and deliver real-time business insights to companies. 

IOT 

IOT would continue to rise, it has been projected to reach 50.1 billion things in 2020, and there is estimated to be 44 trillion gigabytes of data from all those connected things. 

We would witness high tech self-service types of equipment & solutions using upcoming technologies like facial recognition, vein recognition, Palm biometrics etc. 

There would be a gigantic use of the big data in coming years. 

With GDPR taking effect in May 2018. Customers in every industry will be granted increased power over how their data is used protected and secure over internet and other communication mediums, 

The Internet of Trust would take centre stage. By the year 2020, up to 50 billion devices will connect to the Internet of Things (IoT), generating data and analytics in support of automated and policy-based decisions.

The blockchain market size is expected to grow from USD 210.2 million in 2016 to USD 2,312.5 million by 2021 

In the coming 2 years, 45 percent of all data created by IoT will be stored, processed, analyzed, and acted upon close to or at the edge of the network. And in just three years, 5.6 billion devices will be connected to an edge computing solution.  

Data Analytics and Ownership 

Data Ownership would be the next big thing. 

Data Analytics would be big business. Worldwide revenues for big data and business analytics will l grow from nearly USD 122 billion in 2015 to more than USD 187 billion in 2019. 

Banking 

We would see the slowest growth of ATMs and richest growth of Micro ATMs, Aadhar enabled pos and Digital payments shooting up in the coming year 2018. 

We would see a lot of self-service digital banks branches coming up in India. 

There would be a lot of outsourcing from technology products and solutions which banks and other companies may want to outsource and embrace new cloud-based applications and ASDs (Assisted Self Service Devices) software. 

Self-Service 

Self-service kiosks will become commonplace in 2018 and brands will place a greater emphasis on the experimental use of robots, chatbots in both front and back of the house to increase overall customer experiences. 

In 2018, consumers will continue to expand the usage of banking cards, mobile wallets & internet mode of payments for their various purchases. We would see UPI & Bhim integration happening very fast realizing its ability to create a fast and seamless experience, consumers will opt to replace their credit cards for alternative digital payments options available in the marketplace. 

In 2018 we would witness the technology improvements to mobile wallet and related technology like NFC, Blue Tooth QR Codes & it will drive the on-demand economy. 

In the Hotel Industry we visualise lot of guest check-in kiosks coming up and booking would be done thru mobile check INS, hotel Guests would  use their mobile devices to conduct core functions with hotels such as making reservations, checking in and out, personalised keys entry thru guest check-in kiosks, ordering room service, controlling room functions such as entertainment, thermostats’, lighting, booking additional amenities and services etc. 

In 2018 we would witness restaurants food being ordered with QSR, Restaurant ordering self-ordering kiosk, & through the web and mobile ordering mechanisms. 

Upcoming Years 

2018 would be consolidation year of confirming the dominant Operating System and its ahead development path. existing legacy applications would have to be rewritten.” 

By the year 2021, early adopter brands that redesign their websites to support visual- and voice-search will increase digital commerce revenue by 30% 

By the year 2020, five of the top seven digital giants will wilfully "self-disrupt" to create their next leadership positions. 

By the end of the year 2020, the banking industry will derive $1B in business value from the use of blockchain-based cryptocurrencies. 

By the year 2021, more than 50% of enterprises will be spending more per annum on bots and chatbot creations than traditional mobile app developments 

By 2020, Io T & 3D Printing technology will be in 95% of electronics for new product designs.
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