In a recent study, a closer look was taken into what has been driving business and technology trends this year. Technology trends have been at the forefront of business conversations. According to experts, it would be worthwhile for organizations to stay up to date on these trends and they have a highly disruptive effect on the growth and development of businesses.
“In 2018, business conversations will be dominated by several key subjects: science fiction becoming a reality, the clash of technology and governments, rising consumer concerns about technology, and state-sponsored technology,” said Lauren Taylor, Visionary Innovation Group Principal Analyst at Frost & Sullivan. “60% of companies will not see a 10-year anniversary. As platforms, business models, and technologies collide in nuanced ways, and categorization becomes challenging, these insights can be an essential reference tool for companies to devise short-term strategies as well as set long-term implementation goals.”
Here are the Top 5 Technology Trends of 2018 according to Frost & Sullivan’s report “The Power of Technology and Technology Companies”:
1. The Innovation Tug-of-War:
On the road between innovation and implementation there are regulations. It is expected that with the multitude of technological innovations that will come into existence there will be more barriers put up by organizations and governments to regulate them with the aim of protecting consumers.
2. Quantum Arms Race:
There will be great strides made in the field of quantum computing with areas of focus including encryption, AI, materials, and qubit generation. Outperforming traditional technologies will the be the goal of these innovations.
3. Flying Personal Transportation:
Drones and flying taxis have made headlines in recent months, and will continue to do so as competitors in the space increase.
4. The Rise of Enterprise Behavioral Science:
In order to increase worker productivity and influence consumer driven outcomes, companies have been putting more focus on adopting economic and social science principles based in behavioral science.
5. Shift Away from Platform-only Models:
While platform-only models (Uber, AirbnB, etc.) have contributed to a lot of business’ successes, diversification (such as acquisitions and partnerships with asset providers) of business models has become more crucial.