Innovation in digital technology is always happening, and companies need to adapt. Smart businesses are aware that not syncing with the tech advancements happening around them will adversely affect their prospects. It can put them steps behind their competitors in critical areas such as innovation and agility.
The global pandemic has accelerated the acceptance of digitization and automation by businesses across all sectors. They can remain resilient even as they face the continued need to follow COVID-appropriate norms in various parts of the world. Many have swiftly embraced disruptive technologies and altered their business models to comply with the new normal.
Undoubtedly, the effect of the pandemic will be felt for a long time, and the digital transition will continue. Businesses will have to keep pace with technological trends to remain relevant and competitive in their respective niches.
Let's look at seven of the top innovative technologies one should keep a close watch on in 2021 and beyond.
1. “Less Is More” Tech
This first innovative tech category may seem counterintuitive, but after a year of Zoom fatigue, there’s a definite market for lo-fi tech. During the pandemic, sales of vinyl records boomed, and retro games soared in popularity. Amidst all the digitization, low-tech technology provided comfort to pandemic-stressed consumers and employees alike.
This trend will continue in everything from internet-free kids phones to project management software featuring tried-and-true Gantt charts. Digital collaboration tools can even mimic old-fashioned blackboards and flip charts. Sometimes you just need a little analog to go with your digital.
2. 5G for Faster, More Efficient Business Processes
When you feel the need for speed, though, 5G will provide it. Its faster speeds translate to more business activity in less time. That’s what businesses need today, right? The much-awaited fifth-generation broadband network could be approximately seven times faster than the average 4G browsing experience.
5G will bring in a whole new level of connectivity. Obviously, there will be risks in this uncharted territory, but experts say that the good will far outweigh the bad for your business. You must be ready to use the technology when it rolls out so you can reap its benefits and remain competitive in the years ahead.
3. Blockchain Technology for Improved Efficiency
Since its introduction, blockchain technology has improved by leaps and bounds. Today, businesses in fields ranging from medicine to finance and many other sectors are keen to integrate blockchain into their infrastructures. Its unique decentralized ledger design and unmatched transparency make it a highly valuable asset for all types of businesses.
In the financial sector, blockchain delivers the benefit of faster transactions. In real estate, it can be leveraged to create a highly efficient and unified system of records. In short, it has something of value to offer for every kind of business.
4. Cybersecurity Mesh for Greater Security
If you are still clinging to the old ways of securing your digital assets, you are asking for trouble. Organizations with complex IT architectures must keep pace with the changing times. One technology that is going to make a lot of impact in 2021 is cybersecurity mesh. It offers more flexible, easily scalable, and highly reliable cyber control. The mesh can protect an IT perimeter or place a wall around particular individuals.
With remote work becoming the norm for many organizations, crucial corporate assets may often move beyond a company’s perimeter. Using cybersecurity mesh, the security perimeter can be extended to cover employees working remotely. We are sure to hear more of this technology in the remainder of 2021.
5. Augmented Reality and Virtual Reality for Broader Applications
Augmented reality and virtual reality are among the tech trends of recent years that have exploded in popularity. More businesses are adopting them for use in diverse fields and applications. AR and VR have massive potential in the areas of marketing, training, and many others.
They are so flexible that they can be used alongside and in tandem with other technologies. AR and VR can deliver a game-changing experience to employees, clients, customers, partners, and everyone else associated with your business.
6. Internet of Things (IoT)
Touted as one of the most important technologies of the future, businesses are already benefiting from IoT today. In 2021 and beyond, IoT will be used to create a massive web of interconnected devices. It can connect anything and everything that’s powered by the web.
IoT can ensure better safety, greater efficiency, and superior decision-making for businesses. Sensor-enabled machines can predict upcoming maintenance needs. Connected lights and thermostats can ensure efficient energy use at corporate facilities. These examples are just the beginning: IoT can offer benefits that are beyond the imagination of most of us.
Experts say there is no way you can avoid this trending technology. IoT will be prevalent in all of your business processes sooner rather than later.
7. Edge Computing for Next Level Cloud Computing
Once a trending technology, cloud computing is now mainstream. Companies looking for a higher level of cloud solution go for edge computing. By moving computation and data storage closer to data sources, edge computing promises better response times and more efficient use of bandwidth. It not only corrects the shortcomings of earlier technologies, but offers cutting-edge solutions. It will bring greater efficiency to all your key processes.
As IoT dominance increases, edge computing will also find greater acceptance. It will both boost productivity and help companies grow and expand, creating jobs along the way. In 2021, we can expect a surge in demand for edge computing as companies look to plug the gaps in their ever-expanding computing systems.
Conclusion
These are just a few of the dozens of new technologies that will be trending in 2021 and be widely accepted by many organizations. One commonality that emerges among these tech trends is that they connect in some manner. If 5G arrives in a big way, as it surely will, it will have a trigger effect on AR and VR, IoT, and others. Smart businesses should keep an eye on these technologies and be ready to adopt them when the time is right.
