As the new year approaches, businesses start thinking about the annual investment plan. Past years have shown that markets become more competitive. New startups rise, new technologies appear, and existing enterprises face new challenges.
Particularly, financial and insurance sectors feel severe disruption. Banking startups attract more clients forcing traditional banks to evolve or disappear. Insurance product development teams of the new generation also offer more convenient services with a focus on millennials and Gen Z. Other market segments experience similar changes.
This guide was designed for all open-minded entrepreneurs and managers. If your company feels the need in the fresh air, study the following lists. They include both existing and emerging technologies that will be demanded in 2020 and later. Just choose carefully based on your industry and the company’s goals.
Familiar yet Essential Tech
The first section represents technologies that are known for a certain time already. Still, they remain highly competitive and profitable. Different industries benefit from products/services based on the following examples. If you want to invest in something tech-oriented but time-proven, these five areas will be a good choice.
1. 5G Networks
The new connectivity standard is expected to flood the world in 2020 but it’s also available now in different countries, e.g. in the UK and Germany by Vodafone, India by Nokia, and the USA by AT&T. 5G standards enable faster connection, increase bandwidth, and allow to exchange information quicker and simpler. This leads to wider opportunities for IoT devices, robots, drones, and driverless vehicles. Investors may look at NXTG and FIVG ETFs.
2. Extended Reality
Many experts think that virtual (VR) and augmented reality (AR) technologies have missed the momentum. Mostly, they are known thanks to entertainment driven by video games, movies, and other immersive experience things. Just remember Oculus and Pokémon Go. However, the idea of combined extended reality (XR) may save the game. It’s potentially applicable in various industries, from surgery to aerospace to architecture.
3. General AI
Artificial intelligence (AI) is well-known for businesses, too. Based on large data packages and the ability to master specific tasks regularly, AI-driven systems become professionals in certain areas like customer support, computing, tracking, etc. Some AI development directions are familiar but still worth your attention and investments. Here are a few examples:
- Conversational platforms.
- Machine learning.
- Neural networks.
- Virtual assistants.
4. Internet of Things
Well, this one is really recognizable. Overall, the idea of IoT provides for the networks of interconnected gadgets that store, process, and exchange data. They also connect to the Internet, obviously. As a result, devices can handle various tasks, particularly in smart home environments: control temperature with sensors, record everything using cameras, open/close doors, etc. As systems become smarter, we expect more interest in this field in other industries.
5. Voice Tech
Emerged on the edge of AI, IoT, and mobile tech, voice interactions are everywhere now. Actually, they take the idea of traditional talk between humans and expand it to the world of software. Thanks to voice tech, we can talk to Siri, Alexa, and other assistants; google what we want; control smart home gadgets. Advanced voice recognition will lead to even smoother interactions and boost security with new authentication options.
New Emerging Technologies
The second part focuses on more innovative stuff. Emerging technologies aren’t tested or carefully implemented by the majority of market players. That’s why investments in them are riskier. With them, you will have a chance to become the most recognizable adopter but there’s always room for failure due to lack of demand or poor implementation.
1. Advanced AI
Apart from general AI, there are more promising technologies. Gartner reveals five emerging fields that will be actual in 2020:
- Adaptive machine learning.
- Emotion AI.
- Explainable AI.
- Generative adversarial networks.
- Transfer learning.
Also, experts say that it’s worth investing in augmented intelligence that helps businesses to implement the best strategies with the balance between AI and human work. As well, edge AI is named as a priory industry. It provides for processing on local devices instead of full focus on one AI core.
While augmented intelligence also affects the human domain, we’re more interested in direct modifications. The most familiar technology here is augmented workspace with a high level of personalization and immersion. It may include furniture designed for each worker exclusively, elements for people with disabilities, AR/VR devices, and more. Also, human augmentation is emerging now as we see more biotech implants, chips, and synthetic body parts.
3. Digital Ecosystems
The idea of digital ecosystems was introduced in 2002 but it’s still in its infancy. Inspired by natural environments and concepts of decentralization, digital ecosystems are self-organized and scalable. Of course, they are based on digital technologies. In such systems, users get more control while businesses reduce misconceptions and wrong decisions. Examples include fields like DigitalOps, DAOs, and synth data.
4. Machine Vision and Autonomy
Based on emotional AI, computer or machine vision should be familiar to you. Smartphone cameras that recognize faces and Apple’s Face ID tech are the brightest examples. But now we see a wider integration of computer vision ideas into autonomous systems. Driverless cars that can identify pedestrians, robotized assemblers that find defects, cameras to spot criminals, whatever. This industry is highly prospective.
5. Postclassical Computations
Traditional computers are pretty powerful and they will evolve further. Nevertheless, innovators may look at the postclassical approach. Things like quantum computers, low Earth orbit satellites, and already mentioned 5G networks can change the whole approach to computing and comms. The catch is that these technologies are too expensive now and have a limited use range. That’s why study the directions carefully.
Apart from tech sectors, you may be interested in direct investment opportunities. We’d suggest monitoring rising companies that attract new customers today like Beyond Meat. Experienced teams with new promising products like CD Projekt with Cyberpunk 2077 are viable, too. You can find more stocks’ examples in the report by Bloomberg.