What can we predict for the IT industry in 2018?

2017 was a remarkable year for digital transformation. Machine learning, AI and Big Data are some of the dominant technologies in 2017. Progress and improvements in these technologies will continue in the coming years – but what can we predict for the IT industry in 2018? Will AI show up as a job creator or destroyer? Will global technology giants have to self-destruct in order to shape their new leadership opportunities? Will 2018 be a slow death for IT professionals?

Today, technological innovation is coming faster than most businesses can handle. Too often, before an innovation is adopted and implemented, two more appear on the horizon. To cope with these endless innovations, enterprise information technology directors must pursue and surpass the role of business strategist first and second as a technologist, thus developing the right pace for digital transformation.

Levels of innovation and progress will not slow down in 2018. Therefore, we have collected some impactful technology forecasts for 2018 to look at and plan:

Forecast №1: Global technology giants will deliberately self-destruct

Global technology giants such as Amazon, Facebook, Apple, Google, Microsoft, Alibaba, Baidu have brought innovations by exploring previously unexplored options such as UX conversations, chatbots, and voice and visual search. Eventually, their influence has become so great that it is now difficult to find fresh external areas for innovation. In this way, these technology giants potentially self-destruct their revenue bases to create new opportunities.

For example, the recent launch of Apple’s Face ID against its Touch ID and AWS lambda against traditional cloud virtual machines provides an example of the technology giants’ self-inflicted violations.

Forecast №2: Blockchain-based cryptocurrencies will contribute trillion dollars in business to the banking industry

According to the CNBC report, the total value of all digital currencies (about 1,300 different cryptocurrencies) together is over $ 588 billion, with the value of bitcoin dominating the market. This market value of capital will exceed $ 1 trillion, given the growing market interest. Blockchain technology has a real place in the future of technology – regardless of the price of bitcoins.

Prediction # 3: Increasing the roles of IT universalists

Globally, the IT sector is projected to face a huge slowdown in 2018, adding about 1,000,000 new job profiles while eliminating only 80,000. AI-related job creation , will affect 2 million net new jobs.

Today, IT professionals make up about 42% of the entire IT workforce. According to Gartner, in the coming years, 40% of the IT workforce will be an IT universalist and we will see a drop of over 5% in hiring IT technicians. The role of IT universalists would be a business strategist rather than a technologist scaling up a company’s digital business.

Forecast # 4: Increase digital commerce for brands that update their websites to support visual and voice search

Visual and voice searches transform users’ engagement with digital channels. With the advent of voice assistants such as Alexa, Google Assistant and Siri, voice search queries hold the majority for the fastest growing type of mobile search. Visual search, on the other hand, provides greater search accuracy because the picture speaks more than a thousand words.

The huge investments that technology giants such as Apple, Google, Facebook, Microsoft are making in machine learning and AI will be apparent based on how smoothly their voice and visual searches accelerate in the coming years.

Prediction # 5: Increase investment in bots and chatbots, eliminate mobile applications

Bots and chatbots are new aspects of AI. Consumers’ attention is redirected to bots and chatbots from individual mobile applications that businesses have. Estimates say that by 2022, more than 60% of all large enterprises will have at least one chatbot. Proper use of virtual assistants will increase customer engagement and can automate various tasks to free up workforce.

Accelerated improvements in natural language processing allow today’s chatbots to interpret users’ intentions better than their previous generations.

Prediction # 6: Open source will continue to climb the ladder

A decade ago, Linux was a newcomer, while today it is mainstream. In the earlier days, Google, Amazon, and Microsoft were forced to create their own proprietary tools because they didn’t have the software to meet their needs. Many open source frameworks quickly form an integral part of a developer’s workflow. In this way, this paradigm shift changes what companies invest in. Making open source software the biggest competitor to traditional software.

Prediction # 7: IoT to be transformed into BIoT

The combination of IoT with Blockchain is expected to be an empowering combination in IT this year, where it will introduce a whole range of new businesses and services. By implementing real-time BIoT updates from various sensors built into the products, they will enable everyone in the distributed chain with insights they could not have received before.

2018 will also witness the development of 5G connectivity, AI-driven IT security, wireless charging and ARM-powered laptops. Although these technologies can help us connect better and communicate with our audiences, they have the potential to change the way we live and interact with each other.

The article first appeared in Cygnet Infotech.