Over the last few years, information technology has quickly become one of the major forces in business. From big corporations in Manhattan to local, family-owned enterprises in Rialto, California, companies are investing in IT to save money, improve their efficiency, boost their bottom line, and protect their assets from both external and internal threats.
And technology is only getting better, promising even greater outcomes for any business that will incorporate them into its operations. These innovations, in particular, are regarded among the most promising new business technologies of 2020:
- 5G
- AI and IOT
- Serverless computing
- Cybersecurity trends
5G
The latest evolution of mobile networks is called 5G. Compared to previous generation networks, 5G promises higher speeds, lower latency, greater capacity, and increased reliability. There are claims that 5G will be light on power requirements as well.
The biggest difference between this new generation and previous “Gs” will be in terms of speed. A 5G-capable device will be able to register speeds of up to 10 gigabits per second (Gbps), while one that runs on 4G can only reach a maximum of 100 megabits per second (Mbps).
Furthermore, 5G promises much lower latency rates than the generations that came before it. Latency refers to the amount of time it takes for information to travel between devices. With 5G, you can achieve mobile connection speeds comparable — or even superior — to what your Wi-Fi or modem connection can provide. That means a seamless gaming experience or the ability to stream UltraHD movies almost instantly on your mobile device.
The advent of 5G is expected to support new technologies that will make life better. These include good ol’ television, AR and VR, and even driverless cars, to name a few.
But 5G will benefit not just casual internet users, but businesses as well.
What are the potential benefits of 5G on business?
“The 5G Economy” says 5G will turn mobile into a “general purpose technology” on par with the likes of electricity, mechanization, artificial intelligence (AI), computers, and the internet. Experts believe mobile will change or improve business in the following ways:
#1. It will enhance productivity, flexibility, and efficiency
With fast internet on a mobile device you carry everywhere, nothing can stop you from working remotely and finishing your tasks on time. You will also be able to take conference calls with little to no trouble.
Faster mobile internet could also make way for more flexible and efficient office spaces. Using sensors powered by 5G and connected to the Internet of Things (IoT), you can use your mobile phone to keep track of and control factors like lighting and temperature, helping you save energy and money as a result.
#2. It will bolster cybersecurity
One distinct feature of 5G is that it allows operators to split a single physical network into several virtual private networks. These networks can be isolated from one another, so that a cyberattack on one doesn’t affect the others.
#3. It will empower businesses in rural areas
With 5G being faster and having wider coverage than previous generations, it will allow people in rural areas to open their own online businesses. They will also have access to educational materials and be able to communicate with vendors and clients better.
AI and IoT
As its name implies, AI is a man-made intelligence, but it’s designed to imitate or supersede human intelligence and behavior. It allows robots, computers, and other machines to think and mimic humans’ ability to rationalize and make decisions.
IoT, on the other hand, is a network of interconnected people and processes linked together by the internet. Each component of this network is identified by a unique identifier (UID) and has the capability to transmit and gather data.
These two technologies have had business applications for years now, and they will become even more useful in 2020.
What are the potential benefits of AI and IoT on business?
These two technologies have much to offer in terms of improving efficiency. In particular, they can do the following:
#1. They can enhance productivity and workplace safety
AI powers robots used in the manufacturing sector. Robots do not need sleep like humans do and only require short cooldown and maintenance periods, so these are able to produce more and with greater consistency within a given time. These machines can also be used to handle repetitive and potentially hazardous tasks for your employees’ safety.
IoT devices help you keep track of your inventory in real time, minimizing the occurrence of unexpected production hiccups. By using interconnected security devices, such as surveillance cameras and smart locks, you can keep your staff and your workplace secure even without a human guard.
#2. They can improve customer satisfaction
Your customers want a quick and customized response to their inquiries, something that AI-powered chatbots are designed to deliver. The more chatbots interact with people via messaging apps, the more they learn and the more customized their responses become.
IoT can be used to gather data about your customers and your staff. With this information, you can understand your clients and their behavior, and address their needs better.
#3. AI can help you get the best people for your business
Using AI to review applicants prevents bias and discrimination and ensures that only those with the appropriate qualifications are shortlisted for an interview.
#4. They can reduce your expenses
Let’s face it: procuring and maintaining machines are, in the long run, cheaper than hiring people who can do the same work. AI-powered automation also minimizes human error that may result in expensive production mistakes.
IoT also gives you better control over your resources. Sensors keep track of heat, occupancy, and power consumption, and allow you to control these and other such factors to maintain optimal production conditions for both staff and machinery.
Serverless computing
Applications need a server, also known as the backend, to manage and control their functions and how they interact with other apps. In traditional computing environments, app developers had to procure their own server hardware and software. They also had to manage, provision, and maintain the server.
Serverless computing is almost always used interchangeably with Function-as-a-Service (FaaS). In this setup, cloud providers now handle all aspects of an app’s backend. All developers have to focus on is the front end of the app, or the part that users actually interact with.
Furthermore, the app is broken down into individual functions that correspond to an event, such as input from the user, and performs one action. Instead of a fixed fee based on memory storage used by the app — a scheme used in similar cloud computing services — FaaS charges per function, ensuring that developers pay only for the resources their app actually uses.
What are the potential benefits of serverless computing on business?
A serverless setup reduces the amount of resources developers have to invest in to launch and run an app. In particular, it offers these benefits:
#1. It speeds up time to market delivery
Because developers no longer have to worry about their app’s server side, they can launch and run applications within a shorter span of time.
#2. It enhances flexibility
As your business grows and its needs change, you may need to incorporate new features or target a different audience. Breaking down your app into smaller, separate functions makes it easier to perform modifications without compromising other segments or starting from scratch.
#3. It makes launching an app more cost-effective
In a serverless setup, you don’t pay for resources your app doesn’t use. It doesn’t necessarily mean you’d pay less than what you’d pay for in a traditional structure, only that you’re definitely not wasting any money.
Cybersecurity trends
The internet will be just as crucial to business as it had been in the past few years. This is all the more reason to stay updated on emerging cybersecurity-related technologies and trends. These developments, in particular, will have an incredible impact on your business and its ability to thwart cyberattacks:
#1. BAS will be more in-demand than pen testing
Breach and attack simulation (BAS) technologies examine your business’s overall cybersecurity posture instead of focusing on a single app or just your network, as traditional penetration testing does. BAS simulates various types of no-holds-barred attacks, providing you with a solid picture of your preparedness for actual cyberattacks. The demand for BAS has been increasing recently as businesses seek comprehensive methods that can help boost their cybersecurity.
#2. MFA will be more prevalent than 2FA
Compared to two-factor authentication (2FA), which requires just one additional factor besides your username and password when you log in, multifactor authentication (MFA) may ask for two or more. These could be anything from a one-time password (OTP) to your fingerprint. With phishing now granting hackers the ability to bypass 2FA, MFA’s popularity is surging among businesses looking to protect their own or their customers’ data.
#3, Deepfakes are revolutionizing phishing
As deepfakes enable users to create fake — but realistic — videos and audio files, businesses must find ways to confirm the validity of calls and video messages.
#4. ML will play a greater role in cybersecurity
More vendors are considering incorporating machine learning (ML) into their offerings in 2020. ML is a subset of AI that teaches machines to make decisions based on previously gathered data. Its possible applications involve identifying malware and hacking attempts and stopping them prematurely.
With technology’s increasing usage in business, it has become more and more crucial for companies to augment their performance and their bottom line by investing in the right technology. At Zeta Sky, we can help you identify the innovations you need to protect your business from hackers and other cyberthreats. Discover how our services can empower your business by scheduling a Discover Session today!
