Table of contents
- Top Strategic Industry Trends for 2024
- Total Experience
- Generative Artificial Intelligence
- Privacy-Enhancing Computation, PEC
- Composable Applications
- Decision Intelligence
- Distributed Enterprise
- Data Fabric
- How Can Businesses Leverage the Tech Trends?
- Total Experience Strategy in Retail
- Composable Application for E-Commerce Businesses
- Hyperautomation in Manufacturing
- Privacy-Enhancing Computation in Healthcare
Tech experts are continuing to forge ahead with the development and promotion of new improved technologies. This is especially noticeable when the world is undergoing great changes and disturbances, as it was during the outbreak of the coronavirus pandemic.
The pandemic and the lockdown that followed have changed all industries beyond recognition. The suspension of production, disruption in supply chains, the closure of offline stores, and other factors affected the profits of both large corporations and small and medium-sized businesses in any industry.
But there is also the flip side of the coin. The coronavirus pandemic has not only accelerated the digital transformation of enterprises, as many have had to move almost all processes online, but also forced scientists to develop new solutions and find new ways to use innovative technologies for businesses.
Top Strategic Industry Trends for 2024
Experts from Gartner, a research and consulting company specializing in information technology, analyzed and announced top strategic technology trends for 2024. Let's find out what these technologies are and how industries can draw maximum benefits from them.
Total Experience
Total Experience (TX) is a strategy that creates superior shared experiences by interlinking the customer experience (CX), employee experience (EX), user experience (UX), and multiexperience (MX). The goal of this approach is to increase trust, satisfaction, loyalty, and support for both customers and employees. According to Gartner, organizations will boost sales and profit through establishing responsive and sustained TX business results.
Generative Artificial Intelligence
Generative AI is a machine learning technology that enables using existing content like text, audio files, or images to create content. In other words, generative AI enables computers to abstract the underlying pattern associated with the input and then utilize it to generate similar content.
The possibilities of the tool are endless. Generative AI is used to create software code, in drug development, and targeted marketing. According to the Gartner experts, generative AI will account for 10% of all data created by 2025, up from less than 1% currently.
Privacy-Enhancing Computation, PEC
Gartner predicts that PEC methods, which protect personal and confidential information at the data, software, or hardware level, and ensure the secure exchange and analysis of this data, will be used by 60% of large companies by 2025.
Composable Applications
During crisis and uncertainty, companies need to be able to quickly adapt their business to the new reality. To make the process of adaptation easier, they need a technological architecture that will allow applications to change quickly, safely, and efficiently.
The composite architecture of applications empowers such adaptability. As the Gartner analysts say, companies adherent to a composite approach will grow 80% faster than their competitors.
Decision Intelligence
Decision Intelligence is an engineering discipline that augments data science with theory from social science, decision theory, and managerial science. Such technology builds up the ground for large-scale machine learning applications.
As Gartner predicts, over the next two years, a third of large organizations will use this method for strategic decision-making to improve their competitive advantage.
Distributed Enterprise
Distributed enterprises are enterprises that have several locations or branches, often worldwide. This development approach is mostly applicable and beneficial for organizations switching or already switched to remote work.
Gartner predicts that by 2024, 75% of businesses having a strategy for distributed enterprise will grow 25% faster than their competitors. As remote and hybrid models are becoming more popular, the distributed enterprise is gaining traction.
Data Fabric
Gartner defines data fabric as a flexible, resilient integration of data across platforms and business users. A data fabric utilizes continuous analytics over existing, discoverable, and inferenced metadata assets to support the design, deployment, and utilization of integrated and reusable data across all environments.
As the number of disparate data centers and applications has grown significantly in recent years, at the same time, the number of employees either remained the same or even decreased, the demand for data fabrics is only growing. With their help, you can improve the accuracy of information processing through built-in analytics while reducing data management efforts.
How Can Businesses Leverage the Tech Trends?
It is a fact that IT technologies can significantly accelerate the development of almost any business. However, there are not so many companies that can boast of the real results of several IT solutions and an integrated approach to the development of the company's IT structure.
Emerline is ready to share its experience of IT projects implementation and its understanding of the advantages and prospects of using IT technologies for business development.
Total Experience Strategy in Retail
The COVID-19 crisis continues to force retailers to seek new creative ways to attract customers. The idea that businesses need to offer customers more than just products has been around for a long time.
A total experience strategy implies combining UX design, marketing content and strategy, and customer and employee experiences to deliver a seamless, consistent experience with your brand. Companies that are able to treat all points of interaction that humans have with a company as a unified whole will be better positioned to operate in remote work conditions and will be able to expand their digital revenue streams by creating rewarding experiences for customers.
Let’s take the example of a coat store that has both a physical outlet and an online store. If the company has adopted a Total Experience approach to its marketing and business strategy, customers will be able to place an order for a product on the company’s website, then receive automated updates through other media channels on the status of their order. At the same time, the customer can be targeted with additional marketing CTAs fine-tuned according to the experience that led to their first choice of a product.
Composable Application for E-Commerce Businesses
Composable Commerce allows e-Commerce organizations to select and assemble best-of-breed commerce solutions and compose them to satisfy their unique business needs.
Rather than adopting a one-size-fits-all eCommerce functionality to meet company demands, Composable Commerce leverages innovative technologies and approaches like MACH (Microservices, API, Cloud, Headless) and JAMstack (JavaScript, APIs, and Markup) to adapt to the ever-changing market dynamics of today and tomorrow. With such Composable commerce principles as business centricity, modular architecture, and open ecosystem, companies can achieve the following results:
- More agile delivery.
- Faster time to market.
- Improved experiences across all touchpoints.
- Implementation of new business models.
- Creation of a unique experience.
Hyperautomation in Manufacturing
Hyperautomation allows manufacturers to automate every process and task that can be automated.
By bringing these tools and technologies together, hyperautomation can be used to strengthen the productivity of workers and automate virtually any repetitive task that they perform, including the more complex and long-running ones that previously required exception processing and human intervention. Hyperautomation technologies can be employed to maintain control over the back-office and operational processes, and can also support the core functions of an industrial process.
Thanks to hyperautomation, the producer of electrical switchboards managed to create automation for preparing documentation, which freed workers from routine and tedious work and allowed them to focus on other more rewarding tasks.
Privacy-Enhancing Computation in Healthcare
The growing demand for modern EMR and EHR systems that allow physicians to remotely monitor patients' health and allow people to more easily manage their health data resulted in the importance of ensuring the security and confidentiality of data contained in electronic records.
Modern Privacy-Enhancing Computation technologies can help with this. With new and advanced privacy-enhancing technologies, healthcare companies can improve the security of their customers' data and thus gain and strengthen their trust.
The eLearning industry is one of the industries where generative artificial intelligence can be used most actively and efficiently.
The creation of educational materials is a great example. Traditionally, for subject matter experts and instructional design professionals, creating courses is one of the most time-consuming tasks. Fortunately, leveraging generative Artificial Intelligence in eLearning helps to make the course creation process much simpler, faster, and more agile without having to sacrifice quality.
An automatic translation and localization feature is a great example of how Artificial Intelligence is enhancing the eLearning development process, offering more speed and efficiency.
Emerline specialists always keep abreast of the development of new technologies and are ready to implement innovative solutions into your business processes. So if you are looking for ways to stand out in the modern market with innovative technology solutions, we are here to help you. Contact us at any time for a free consultation.
