There’s never been any doubt that the tech sector is big. In fact, the industry’s top five (Facebook, Microsoft, Amazon, Google and Apple) were collectively worth more than the entire economy of the UK last year, valued at $3.5 trillion. What’s more, the monolithic importance of these companies and their sector doesn’t seem to be slowing, with growth of 6.7% in 2018 according to Forbes, the fastest growth since 2012.
With that said, the products and technologies coming out of the sector extremely important – and therefore, extremely sellable. To make the most of this exciting and fast-moving industry, it’s a good idea to know what techs specifically are in demand this coming year.
The first tech up on the list is, of course, Artificial Intelligence. A bit of a buzzword in its own right, AI is a tech that has been around for a while (since the 50s, in fact) and is now fully integrated into our lives. In fact, the tech plays a huge role in countless everyday products, from streaming services, navigation apps, home personal assistants and smart home devices. And beyond consumer use, AI plays a huge role in the maintenance of growth of many other professional industries, from scheduling trains in the rail industry, to assessing business risk and improving energy efficiency.
Branching off from AI, machine learning is, in short, creating computers that can learn to do something it isn’t already programmed to do using patterns and insights from data. Machine learning then also has its own branches within it, including neural networks, natural language processing (NLP) and deep learning. Each of these subsets are, themselves, growing and the wider tech is having an ever-increasing effect on countless industries, making a demand for both the tech itself and the professionals who can utilise it.
Robotic Process Automation
Robotic Process Automation, or RPA, is another tech moving us away from manual processes, categorised as the use of software to automate business processes like interpreting applications, processing transactions and accessing data. This therefore automates repetitive tasks, freeing up personnel for more skilled tasks. Despite the potential threat to some job roles, RPA will introduce a lower operational risk, improved internal processes and reduced costs, making it extremely attractive to many businesses.
Simply put, Blockchain can be described as data ready to be built on, but cannot be taken from or have its core base layer changed. Keeping the previous block the same is what makes Blockchain so secure and no one entity can take control of the data. This improved level of security makes blockchain particularly useful in cryptocurrency, where trading volume is expected to see another 50% growth this year. Beyond that, this useful tech can be used to protect medical data and improve the global supply chain.
Cloud and Edge Computing
Once a tech to keep on the radar, cloud computing has now become mainstream, with services such as iCloud, Google Cloud, Microsoft Azure and AWS dominating the market. The tech is still growing, however, as more and more businesses more over to cloud solutions. Beyond cloud computing however, edge computing promises to offer even more, expanding the capacity of the tech and bypassing the latency caused by cloud computing by storing the data closer to where the computing needs to take place. This new and improvement speed makes it particularly useful for dealing with time-sensitive data in remote locations, ultimately boasting a company’s speed and productivity. In fact, this tech is valuable that the global edge computing market is predicted to reach $6.72 billion by 2022.
Virtual Reality and Augmented Reality
A buzzword for gamers, VR is all about immersing the user in a new environment, with Augmented Reality, instead, enhancing it. Beyond its success in the gaming world, VR and AR are also extremely useful in training, with the likes of simulation software VirtualShip being used to train the U.S. Navy and is also playing a role in education, marketing and healthcare. The popularity of this tech is only growing, with major players in the market including Google, Samsung and Oculus, with valuable interest too coming from plenty of startups.
Despite not sounding like much of an emerging tech, cyber security is still expanding, with new technology being adapted all the time to keep up with new and emerging threats. These advancements include hardware authentication, cloud technology and deep learning. As the sector advances, the security we implement to maintain the efficiency and safety of out tech will only remain incredibly important, making this an extremely useful tech to sell.
Internet of Things
IOT enables devices to be exchange data via the internet, changing the capabilities of our tech. The number of connected devices reached 8.4 billion in 2017 and is expected to triple by 2020, meaning IOT is only getting more popular amongst developers and buyers.
As the tech industry continues to not only boom financially, but quintessentially shape our modern lives, the capabilities of this thriving sector in terms of sales should certainly not be missed.