In an increasingly digitised world, disruption by way of technological innovation is inevitable. It has become essential for all the organisations to stay up-to-date with the latest developments, at the same time carefully examine which of these are relevant for their particular business. While there are a number of new and advanced technologies on the rise, including Blockchain, Augment Reality, Virtual Reality, Robotic Proces Automation (RPA), IoT; Artificial Intelligence is proving to be the starting point that majority of enterprises are aiming for today. Enterprises will be experimenting with emerging technologies for consumer and enterprise use. Focus in 2020 and beyond will be to make business more intelligent through digital transformation, security hygeine and data driven dynamics.
Let’s take a look at some of the disruptions expected in 2020 as result of advances in new technologies and results of experimentation in some of the it:
- Automation to Hyper-automation
The key goals of automation have always been to reduce the cost of human capital, reduce errors and improve process efficiency. While complete automation is required to truly realize the benefits, the reality is far from it. With hyper-automation though, this will change.
Hyper-automation will include robotic process automation (RPA) and intelligent business process management suites with integration with AI tools to manage business processes. Allowing businesses to visualize how functions, processes and key performance indicators will interact to drive value. This will provide continuous intelligence about the organization and drives business opportunities. Take the sales and marketing functions as an example, where automation is fairly mature. In marketing, hyper-automation will drive personalized customer engagements. On the other hand, in sales, the use of hyper-automated Customer Relationship Management (CRMs) will enable organizations to prospect probable consumers leading to desired sales outcome.
In 2020, increased deployment of hyper-automation platforms will enable organizations to get closer to their transformation and optimization initiatives. Accepting and adapting to these changes, both in spirit and in practice, will be imperative for organizations to fully realize the benefits of business transformation initiatives.
- Increased Customer Engagement by integrating AI with Mixed Reality
For many industries, Augmented Reality (AR) and Virtual Reality (VR) have been emerging driver for customer engagement (and eventually sales).
In 2020, AR/VR experiences will become even more immersive by integrating AI to provide multi experience. This will allow businesses to not only create customized offerings but also offer a personalized experience to consumers. Most VR experiences will allow users to interact with the construct through natural language processing (NLP) capability. AI will also power AR experiences, with mobile handsets using multi sensory and multi touch interfaces to engage with contextual contents.
The key beneficiary of this disruption will be the Retail industry. By integrating AR/VR experiences with personalized offerings, the industry is already witnessed an uptick in consumer interest. With AI-powered AR/VR providing increased customer engagement, retailers will be able to identify deviations in customer’s behavior and accordingly modify their outreach campaigns.
Going forward, retailers should be able to engage customers across the journey cycles, improve in-store experiences through dynamic planogram designs integrated with actionable data to drive sales.
- Advanced Augmented Analytics for Decision Making
Organizations need to continue to uncover insights hiding in their data to thrive. Business Intelligence and related analytics have transformed in last two decades and will continue to enable businesses in coming future. In next wave of Augemented Analytics, AI – ML and NLP will play major role. Analytics will be immersed with machine learning and interfaced with NLP to advance entire analytics life cycle – smart data discovery, personalized and sharable insights across ecosystem.
In future, augment analytics and insights will become interigal part of enterprise applications to automate discovery and interactions. Users will be able to access insights from data that matters them most, tag other users in dashboards and create feedback loop for smarter and faster decision making.
- Digital Ethics and Privacy
While technology is advancing, there should be a constant look out to evade trust crisis. Consumers are now becoming more aware of how their data is being collected and used. Businesses are more aware of their vulnerability towards data breach and cyber-attacks
In 2020, Digital Ethics and Priviacy will take centre stage. Organizations will need to set governance and experiment and execute technology advances by doing right things to gain and maintain customer trust and succeed.
In Sales and Marketing, smart data discovery and enabling sales while maintaining data privacy will be crucial. Organisations will need to be cautious in using consumer data and focusing on need based sales. Consumer needs to be onboarded and aware of entire sales journey. Instead of push, pull strategies using technology advances need to be considered in order to maintain digital ethics and privacy.
In 2020, data service platforms complaint with privacy laws and constantly engaging with consumers through pull strategy will be prevalent to generate revenue.
Cloud tech services are expected to be utilized by 90% of global organizations by 2022. With this tipping point, the connected platform economies will gain further steam, thereby making cloud a strategic enabler for this change in digital business.
With benefits such as simplification of operations, improvement in reliability and availability, and cost-effective operations, the connected cloud will be the next disruption in cloud computing. In 2020, organizations will start restructuring their distributed cloud infrastructure to support operations on like-for-like cloud services. With a promise of low cost-high scalability, this disruption will be particularly suited to SMBs. With a level playing field, SMBs will be able to test new technologies with reduced deployment time, enhance their market penetration, optimize their resources, and maximize their returns.
The way forward for operational leaders is to manage their cloud ecosystems to encompass the workforce, customers, partner ecosystem and infrastructure. The aim should be to meet the increasing customer expectations and be agile enough to adapt to the changes in the markets.
Technology today is evolving more rapidly than ever before and with the increasing adoption of these across multiple applications and functions, the business environment will become even more dynamic. As a result, for organizations to succeed, the relevance of business priorities with quality of customer experiences will have to be the focus in 2020. Companies that are able to adapt and upgrade themselves and emerge stronger, will be the one to benefit from these disruptions.
DISCLAIMER: The views expressed are solely of the author and ETCIO.com does not necessarily subscribe to it. ETCIO.com shall not be responsible for any damage caused to any person/organisation directly or indirectly.