2020 Vision - how will technology influence your business strategy?

Every year, technology changes the face of business. Whether it’s data-led customer insight, better connectivity or smoother automation, technology is the source of innovation and efficiency in almost every industry. As the US President of specialist technology recruitment business Lorien, I understand the role that tech plays in all our clients’ businesses. Here’s my round-up of the top five tech trends you should be thinking about in 2020 and 2021. 

5G means rapid connectivity, with low latency leading to almost frictionless information exchanges. This means that not only can data and information be shared in real-time, but also that decisions can be made much more quickly. Combine this with hyperautomation and digital twin technology (see below), and we’re talking unprecedented efficiency to run a business. This level of connectivity will also result in faster innovation, especially as the ‘network effect’ (which means the more connections, the higher the value) takes hold – resulting in knock-on innovation and even more use cases. But that’s not to say that 5G is without its challenges – look out for our upcoming article on this.

Hyperautomation and digital twin technology
Hyperautomation combines the intelligent breakthroughs of technology – like artificial intelligence and machine learning – with cognitive and physical breakthroughs in automation, like robotic process automation (RPA). By combining this sophisticated technology, hyperautomation can be used to identify, analyze, predict, design, monitor and improve processes without human interference. 
For example, in digital twin technology (where a digital counterpart stands in for a real-life system or entity – such as an airplane engine - enabling us to monitor real-life conditions of the physical counterpart and implement solutions), hyperautomation can be used to not only track the environment and conditions impacting the physical twin, but also to predict outcomes and trigger actions in real-life. All without lifting a human finger.

Tech Citizenship
As demand continues to outstrip supply in the tech market, and tech tools become more sophisticated, we will see the rise of technology ‘citizens’ – businesspeople that are not tech specialists, but that with the right training and tools can replicate some of the more basic tasks of niche technologists. This includes analytics and data, application development and design. Have you ever heard of a citizen data scientist? If you’re looking for the fundamental skills of a niche data scientist, but either can’t afford the high rates or can’t locate the right fit, you might want to consider a citizen version (or give s.com a call!). 

Multi-experience is the intersection between physical and digital reality. Multi-experience takes Extended Reality (or XR – the catch-all for immersive technology like Virtual Reality, Augmented Reality and Mixed Reality) and combines this with multi-sensory and multi-touchpoint interfaces to create an even more enhanced experience.
For example, in multi-experience, a doctor could perform surgery using a robotic arm, using XR to visualize each step, and feeling texture and pressure for precision. Or we could superimpose digital images onto the real world, like technically complex blueprints, to enable engineers to build machines precisely – or even create 3D, interfaceable images that support pattern identification (think epidemiology). With the reach of IoT and the power of 5G, multi-experience could be even more impactful. 

AI, data and customer profiling
Progressive customer profiling remains key to competitive advantage. While consumers today expect more from companies in exchange for their data, the trade-off is that companies can also now do more with that data. The Internet of Things (IoT) has unlocked new ways of tracking customer habits and preferences in real-time, while artificial intelligence (AI) and machine learning (ML) can give more informed insights and predictions into consumer behavior. This in turn helps to create nuanced and individual customer journeys, that can be customized and developed over time as candidates move through buying cycles. And this process can be entirely automated – only alerting the sales team when a consumer is ready to buy.

There are a couple of trends that I haven’t covered here which no doubt may be on your list – such as blockchain, edge computing, distributed cloud or cybersecurity pressures. I have focused on the ones that I feel most closely linked and therefore in combination most likely to change the scope of business, but there are plenty more! If you’re interested in what the next couple of years will bring to your technology workforce, get in touch with the Lorien team at xxx. We’re a technology specialist with over 40 years’ experience providing tech and telecoms talent to leading brands across the US, UK and Germany. 

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