IT Industry: what trends will give you millions of dollars

Not so long ago such things as VR, artificial intelligence, and robots appeared only in sci-fi plots. Now they are more than real. The tech industry is thriving: new technologies, tech startups, and, of course, tons of money. However, due to the tight competition, developing a tech company is easier said than done. Hence, it’s essential to be aware of the tech tendencies in order to be one step ahead.

Analysts assure those are not just popular technologies, but a business roadmap where each of the trends provides a competitive advantage. They develop and enhance each other. The following tendencies are expected to remain relevant over the next 3-5 years at least.

• Data Fabric

The technology provides data source integration between platforms and users. This way it makes the data available everywhere it’s needed. The fabric value is its ability to analyze and recommend changes, which may reduce by 70% the efforts to manage data.

• Cybersecurity Mesh

This is a flexible resilient system that combines fragmented security services. It also allows the best autonomic solutions in the sector to work together for increasing the overall security.

• Privacy-Enhancing Computation

They provide data processing in unreliable sources and use different methods of confidentiality protection. In doing so, the technology enables us to extract the data value meeting regulatory requirements.

• Cloud-Native platforms

The technology gives a possibility to create new fault-tolerant and flexible app architectures which are capable to react to swift changes. This improves a traditional phased approach to Cloud which doesn’t allow to implement all the advantages yet and complicates the service.

• Composable applications

They are created from business-oriented module components. This helps to facilitate the use and re-use of the code, accelerates the entry of new program solutions into the market.

• Decision Intelligence

This smart system can maintain and expand the process of human decision-making. They allow automatizing the process by means of using expanded analytics, modeling, and artificial intelligence.

• Hyperautomation

This is a business-centered approach that enables us to quickly identify, verify, and automatize business and IT processes. The technology provides scalability, distant work, and helps move away from traditional business models.

• AI Engineering

The technology can optimize the production of AI solutions via the automatization and updating of data, models, and apps for integration.

• Distributed Enterprises

This refers to a digital ‘remote’ business model which allows to improve distant staff interaction, digitalize the points of convergence with consumers and partners, and improve the product interaction.

• Total Experience

This is a business strategy that combines the experience of employees, clients, and users in several integration points. The aim is to accelerate the growth, enhance the trust, satisfaction, loyalty, and support from customers.

• Autonomic systems

These are self-driving physical or program systems. They learn from external data and dynamically change the algorithms to optimize the behavior in complex ecosystems.

• Generative AI

The technology examines artifacts on the basis of data and creates innovative things which resemble original ones without copying them. Generative AI possesses the potential for making up new forms of creative content like video or letters. Besides, it can accelerate the cycles of research and development in different fields.

How companies implement tech tools

• Artificial intelligence

AI has been penetrating each and every sphere of our life. The technology analyzes users’ habits through a sent text. Based upon the derived data, AI provides it with necessary information and goods at the right moment. The algorithm is used in bots in order to identify users’ requests and generate particular responses to them.

Facebook Messenger has integrated AI in its smart assistant. It can share the location, send stickers, request payments, call a taxi, etc.

Pic2recipe has applied artificial intelligence in daily life. The app uses neural networks in order to define the ingredients and recipe from a photo. The algorithm identifies the meal to within 90%.

• Big Data

This is a huge amount of information where you can find implicit patterns for boosting business efficiency. The technology allows us to liberate human resources for a more creative and complicated job and income increase.

Cambridge Analytica conducted a campaign for the brand of modern clothes for women. Though the company sold goods at physical stores, they had limited knowledge of their customers.

Cambridge Analytica aimed to identify the consumers with a high propensity to purchase their products. Then, they ‘activated’ the customers by means of the forecasted analytics and unique adaptation of messages through social nets. Eventually, the campaign paid off.

IT industry worth

In 2020, the global tech sector took was slightly decreased in terms of overall revenue. In August 2020, consultants estimated the revenue of $4.8 trillion for the year, compared to their previous estimate of $5.2 trillion. Despite the IT industry was coping with the pandemic challenges much better than others, it was still exposed to considerable loss.

Currently, the technology industry is expected to reach $5 trillion in 2021. Looking into the future, experts forecast the pattern is likely to remain, estimating a 5% compound annual growth rate (CAGR) for the industry until 2024.