4 Tech Trends Your Business Needs to Adopt in 2020

By on February 5, 2020
Tech Trends

If you want your business to not only keep up with the ever-expanding competition but to actively overtake its counterparts and set the bar in its industry, you need to be willing and ready to take on the latest and greatest in tech trends and innovations. 

From augmented reality to blockchain applications to the fifth-generation cellular network technology (or 5G as it is more readily referred to), which will soon be reaching its full potential across the globe, here are the top five tech trends you can’t afford to ignore. 

  • Increased business intelligence

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A vital trend for SMEs and larger corporations alike, business intelligence tools are set to get a lot cleverer in 2020. Analyzing big amounts of data has always been a problem for smaller businesses, and even larger ones can struggle to know what to do with the data that is given to them. 

However, this is all going to change in 2020 with new applications and advanced analytical tools that will help companies optimize their data as well as access ongoing reports much faster. You will even be able to exhibit your data in more visually attractive and user-friendly formats.

  • The arrival of 5g networks

With some 5G networks already launching this year and the excitement of the technology going global in 2020, businesses would be foolish to overlook this huge development in communication. 

5G will offer unprecedented speed (up to 1000 times faster than 4G), meaning your business can work much more efficiently and with much greater productivity. You will be able to share large files faster without needing to be connected to Wi-Fi, run multiple applications at once, and your devices will have their battery lives extended by up to ten times. 

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However, it is worth keeping in mind that the rollout of 5G could have a negative impact on your company’s bottom line initially, so it may be worth talking about how you will cope with this change with a financial services provider such as a Vista credit union who offers credit to their members at a highly competitive rate. 

  • Blockchain applications

Although already impacting several industries including banking, healthcare, and education, 2020 is the year that this revolutionary technology will really come to life and help optimize your business’s working practices

Smart contracts will enable you to enforce conditions of a contact automatically without the need of a third party; saving you time and money as a business. Plus, these contracts are more accurate, transparent, and are permanently stored for future reference. 

Blockchain can also help your business protect its sensitive data and intellectual property as well as improve your money-related and social administrations. 

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  • Virtual reality 

This is nothing new, you might be saying to yourself, but this interactive and exciting technology has nowhere to go but forward with new developments and unexplored potential being discovered left, right and center. 

Specifically for companies, VR and AR can work wonderfully at attracting new customers and showing off your brand’s creativity and forward-thinking approach to business. 

Imagine if you could you work remotely and communicate with your employees via a holographic image, or if you could create ultra-realistic product prototypes to show to your customers before launching a new product design. That’s the kind of market research that you could only dream of a few years ago. 

Even if you just embrace one of these trends going into 2020, you will quickly notice the positive impact that it has on your business and your customers; so go on, take a leap of faith and try something new.

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4 Tech Trends Your Business Needs to Adopt in 2020