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7 Technological Trends in Business This Year


This year a number of trends have begun to emerge in technology, which have had an impact on how people do business. So in order to keep your company up to date, you need to find the answer to a couple of questions; What have people been investing in, and what is currently shaping the future of business? As business leaders with technology constantly evolving, it can be overwhelming to understand the right path to take. To paint a clearer picture for you, here are some of the technological trends that have been coming about in 2020.

3D Printing

This is just an example of the advances in design and production technology that has really taken off. 3D printing is not just experimental anymore and used only for prototypes. In fact, it has moved on to high volume production. If your business is looking to invest in this groundbreaking technology you can get a quote on production engineering. Your investment will be compensated fully by increased production speed, efficiency, and accuracy.

Data Turnaround

It’s actually becoming a trend to make your date more disposable and accessible. People are suddenly very aware of the importance of data security and privacy. It’s been predicted that businesses will use secure technology to make their data available to third parties to complete services or transactions. In finance, the pressure is being applied to allow data to be shared with other providers, for example with Open Banking. The increase in data security enables this.

Alternative Payment Methods

The shift has been mainly from credit or debit card use to other forms of digital currency. There’s been bitcoin and cryptocurrency, and now account-account transactions are becoming more common. Tide is an example of a new app that enables users to make sales directly from a business account. Their main purpose being a time-saving device, business accounts will also save companies money by cutting out the middle man. Of course, as with any new payment service, there are predictable security risks such as identity theft.

Facial Recognition Technology

Facial recognition is becoming more common in a variety of fields and devices. Unsurprisingly it’s being used to allow admission to the Tokyo Olympics 2021 for example. So far the general public has been very accepting of facial recognition technology. Seen as it has been so well received, it’s likely to keep trending in a number of areas. This once futuristic seeming security measure has brought peace of mind and trust to a lot of people. 

Natural Language Generation (NLG)

Many citizens have happily brought this into their homes with the likes of Alexa and Amazon Echo. The technology is advancing beyond just being a talking radio, and it’s humanizing effect on data means it can now provide insights into everyday life, not to mention business. The NLG devices can be used to display data and information in real-time and by voice activation control. 

Edge Computing

The “edge” refers to the edge of your network where data is collated, rather than in a centralized data-processing warehouse. This means that large amounts of data are processed near the source where it’s generated. This reduces cost with high internet bandwidth usage and allows applications to respond in record time, even remotely. Because of its close proximity edge computing allows sensitive information to be filtered and is a much cheaper option. Read more about how edge computing has entered the mainstream

The Introduction of 5G

This has been a controversial topic already without a lot of polemic and misunderstanding around 5G technology. Currently, 5G is present in a number of mobile phone networks across the globe. It provides increased speed and high-quality video streaming. It’s possibly the future of connectivity in business because this is the way many companies are going.  Virtual conferencing has become the norm, with only technological issues such as a poor connection getting in the way. It also gives businesses the opportunity to save on overheads as employees can all work remotely. 

The impact of the COVID-19 outbreak on business has made the world see how much we rely on advances in technology. The way in which businesses have had to adapt quickly to the WFH transition has been pretty much successful due to digital resources. Without cloud backup and remote communication devices, it would have been more challenging for everyone to work from home. Changes have certainly been made on how people do daily tasks and this will only lead to interesting developments for the future of business.  




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