Business and technology trends impacting enterprises in 2019

Empowering the business outcome in a digital enterprise environment is quite challenging for the brands in 2019. Tech companies are driving continuously to exceed to their customers' expectations during this fast-tracking change. Companies are trying to show how technology can help deliver on their customers’ objectives, improve agility, security and impact, or they risk being disrupted to ease the operations. Start-up industry has also observed growth in technology-driven ventures. The existing small businesses are slowly taking their steps forward to adapt the latest tech breakthroughs.

IoT service is an amalgamation of multiple individual services. Speaking about the developments in the tech industry, IoT is one of the aspects, which is accelerating at a rapid pace and transforming the world, completely. With the rollout of highly anticipated 5G, IoT will cover major strides and reshape the world of tech. Autonomous vehicles, connected cars, IoT, Machine Learning and so forth will be largely dependent on 5G. Since the era of 5G is already upon us, let’s take a close look at other tech trends that will dominate the IoT landscape in the year ahead.

As IoT is emerging and growing rapidly, M2M will arise with a bunch of security issues to deal with such as address security, new attacks coming from new devices, security barriers. Therefore, IoT and M2M security policies will be undertaken since almost everything will be connected to the internet that will provide control. According to Dept of Telecommunications Govt of India, DoT is working on framing policy of M2M communication.

National Drone Policy-The new policy called 'Drone Regulations 1.0' classifies a remotely piloted aircraft and delineates how they can be flown and sets the restrictions under which they will operate.

* Co-Existence of Disintermediation and Data Broker

Blockchain technology is poised to disrupt traditional business model, especially in the banking and finance industry. There will be a high level of disintermediation going forward, as it will allow enterprises to communicate, share data and information directly, rather than through a gatekeeper.

Apart from blockchain, another interesting trend is the emergence of the data broker. It will play an important role in domains where multiple custodians of diverse data sets exist. Trust issues will foster the emergence of data broker entities that will create platforms for analysis and insights, data monetization and trading.

* IoT Monetisation:

There will be focus towards monetizing automated assets as well as data sets from the assets, democratizing noncompetitive information through use of higher process automation and AI. This will also spur the adoption of adjacent technologies such as Robotic Process Automation.

* Digital Supply Chains

Confluence of Digital and IoT technologies such as Connected vehicle, Transport Fleet and Condition monitoring and Warehouse Management Systems will evolve further to provide an integrated picture to the customer as well as various stakeholders. This connected ecosystem will address the challenge of having multiple information silos for each of the supply chain functions. This enables high degree of actionable intelligence through data accuracy, synchronization and transparency. It ensures that stakeholders are all working with the same data when making decisions and allowing assets to make operating decisions.

* Edge Computing

The collection, sending and processing of immense quantities of data lets companies to act more intelligently, quickly and make better-informed decisions. However, sending all that data to traditional cloud networks can lead to latency. Edge computing is evolving around the developing need to move much the processing nearer to IoT sensors themselves to decrease that latency and improve efficiency.

IoT devices exist in areas where connectivity is variable. Edge computing reduces the time it takes to store and process data from IoT devices. The data can be managed before traveling all the way to the cloud or data center. Edge computing is impactful for IoT devices and applications especially when they rely on machine learning, and, by extension, large amounts of data, such as facial recognition, intelligent navigation or spatial awareness.

Though, the cloud is still frequently used as the datacenter for firms, it is simply a secondary hub where data is stored after it is processed on the edge, or where non-time-sensitive processing takes place.

* Blockchain enabled cybersecurity

Even though nothing is 100% secure, blockchain is designed to be unassailable and independent. In 2019, we will be able to see focus on blockchain enabled cyber-security via three defining characteristics:

Decentralization - The most stirring characteristics of blockchain technology is that it is completely decentralized, rather than stored in single central point. This eliminates the need for powerful central authorities and instead, hands control back to the individual user.

Cryptography - If decentralization is the bones of the blockchain, cryptography is the muscle – the sinewy, complex mathematical algorithms that deflect attacks.

Consensus - Consensus is the brain of the blockchain where it chooses which blocks to add by pitching nodes against each other in a cryptographic race.

Jurgen Hase
CEO, Unlimit