Looking forward, IT will play a pivotal role as a major catalyst for the creative development and utilisation of knowledge, which will ultimately contribute to the improvement and innovation beyond COVID-19.
IT directly influences knowledge management and, in turn, effectively channels how knowledge management influences innovation. Forwardly-thinking, IT has a positive effect on innovation by channelling the knowledge management of a company and its employees by implementing proactive business strategy and continuity.
After what we’re currently experiencing this year in 2020 and potentially 2021, no industry or company can possibly survive without thinking forward and planning for what’s beyond the challenges of what we’ve experienced with COVID-19.
IT will be a catalyst for many companies because it’s an industry that continues to search for, discover, test and develop new technologies, products and services to ensure business success. IT has also been integral in defining companies’ new organisational structures in relation to working from home infrastructure and strategy implementation.
“Innovation” is traditionally about the realisation of ideas and aspirations. The role of IT in terms of knowledge management can affect the performance of a company in a number of different ways. Technologies are being developed faster and faster these days. In order for your business to keep up-to-date, you’ll want to pay close attention to the latest IT trends and utilise them wherever possible in your business.
So, what innovations in the field of IT will be in demand today and how should you apply these IT trends of the future to your business development? Take a look at some of the following areas that are currently experiencing a boom in innovation:
Artificial Intelligence: Solutions based on AI have already formed the basis of many IT trends for the future: from speech recognition, face recognition, and even imitation of emotions. Elements of artificial intelligence – machine and deep learning are now actively used in robotics. It’s predicted that artificial intelligence will become part of all modern innovations and business analytics by simplifying data collection and its processing.
Mobile Solutions Trends – Chatbots in Business: Experts predict that by 2021, the largest enterprises will spend more on chatbots than on creating mobile applications, and the chatbots market will amount to $3.5 billion. Chatbots themselves will acquire human traits – first, they will learn to communicate (as Siri already does), and then recognise and mimic human emotions. Experts believe that in a couple of years, chatbots will penetrate into all areas of communication.
Internet X: New communications technologies such as low-power wide-area network (LPWAN), low-power wide-area (LPWA) network and low-power network (LPN) as an alternative to Wi-Fi. LPWA will allow the signal to overcome long distances and obstacles. The development of this technology, along with the growing number of smart devices, will push the development of the Internet. And it, in turn, evolves into the Internet of X, that is, into a concept that applies to almost everything.
Pocket education: New technologies are appearing more and more often, in order to keep up, specialists in all spheres will need to periodically update their knowledge. Given this new way of life dealing with COVID-19, online learning platforms will gain even more momentum. Moreover, virtual education will have to be as accessible as possible, so futurists predict a boom in the creation of mobile learning applications.
User Experience: User experience helps to distinguish the company from competitors. Design based on user experience will continue to develop in parallel with the latest technologies. Traditional interfaces are transformed into or even neural, the so-called “brain-computer” and will also be actively used in robotics. The task of high-quality user experience will remain unchanged – to make technological innovations as convenient and understandable for a person as possible.
Big Data: Analysis of large amounts of data – important to the world of finance – is already actively used by many businesses. With the growing amount of information and the development of AI, not only will Big Data develop, but also the field of application of this technology. Opportunities for analysing large amounts of information will be applied in all areas. Big Data will be one of the tools of Internet marketing. This technology allows you to quickly process huge amounts of data based on consumer behaviour.
In light of all the innovative pathways explored above, IT certainly has the power to pursue many exciting avenues and redefine the world as we know it.
As tough as it’s been for us lately, unlike our forebears, we are fortunate to be living at a time where technology can assist us by making our professional lives easier by reshaping how we go about doing business.
The technology we already have at our fingertips will pave the way for us to innovate even further. Future technologies will have the potential to change our business lives forever, we just have to stay flexible and informed.
Therefore, life after COVID-19 may be better than ever before, so let’s work together to make your business a winner!