IT plays a major role in digital marketing, data sciences, business intelligence and mobile currency ecosystems during the past decade. In fact, many have made their fortunes getting into business with IT-driven technologies to manage and streamline operations. Last year according to IT global think-tank International Data Corporation (IDC), revenues in information technology products and services has been estimated to be at $2.4 trillion, which is a 3.5% increase from 2016.
For many in the IT world, whether you are thinking about Virginia IT consulting firms or a solo IT support consultant, business has been booming and will continue to grow in the coming years. Industry experts forecast substantial project growth of 5% across the global tech sector for this year, which could further go up to 7% or more with promising advancements in IT technology. If all factors fall into place, the upside of the forecast could drive further growth by no less than 7% or more. Global information technology spending, according to another report from IDC, is expected to reach an all-time high of $4.8 trillion with the U.S. owning $1.5 trillion of it.
Conservative estimates point to a possible increase of about $2.6 trillion by 2020- talk about rising growth. Here are four of the notable cutting-edge technologies in IT that can help you think about leveraging for your business.
Machine-learning software platforms are getting into mainstream businesses other than manufacturing and retail. This is best exemplified in the strategic collaboration of ecommerce giant Amazon, financial giant JP Morgan Chase, and multinational conglomerate Berkshire Hathaway to establish a healthcare program with AI-driven operational systems. The business alliance found AI highly-effective for health-related processed based on numerous studies supporting it.
Numerous studies around the world have developed new-age solutions to speed up diagnosis of diseases and although many of which are still on the trial stage, the system holds a lot of promise for the future of artificial intelligence.
Light based wireless connection (LIFI)
LIFI will be setting the trend for lightning speed internet connection. This is a new light-based wireless system that guarantees data speeds a hundred times faster than Wi-Fi. It can bring high-definition virtual objects into stores. With Li-Fi and augmented reality controls, consumers can see limitless virtual inventory.
Operational automation and robotics
The future of mechanization and automation has finally become a reality. Only recently, SpaceX of Tesla’s Elon Musk developed rockets that would accurately return back to earth on its own on pre-determined landing locations and reused for future missions.
Software applications are starting to take a popular following. Robots are widely used in high-precision surgical procedures to eliminate risks of errors. Algorithms for deep-learning systems are also being used to automate operational and business functions, including customer service industries.
China has started to revolutionize the payment ecosystem by adopting a unique mobile payment system which has been estimated to have processed $ 3 trillion last year. This eliminates the need to carry cash or a wad of bills or credit cards.