Digital Trends 2021: How Tech Industry Can Impact Tomorrow

  • Volatility -the dynamics of change;
  • Uncertainty -the degree at which it is possible/impossible to predict the future;
  • Complexity -a variety of factors that need to be considered;
  • Ambiguity -the mixed meanings of conditions when trying to understand an event.

The New Approach to Work & Business Relationships

As most team members have shifted to remote work and schedules have become more flexible, employers need more than ever to have tools that evaluate the impact of each professional on the company’s results. So, the number of hours spent on a task or project doesn’t have the same value as the delivered quality and goals that have been reached. According to Forbes, the main issue with the remote work is that the staff could be either under-challenged or over-challenged. This is a digital trend that companies will have to tackle in 2021.

Sharpening your communication skills and finding the most appropriate way to stay connected with your team could be a solid resolution for 2021.

At the same time, we can observe the rising demand for outsourcing services. During the next 4 years, the IT outsourcing market is expected to grow by $98 billion, while top outsourcing hubs in Eastern and Central Europe are expanding due to the high demand for low-cost high-performance dedicated teams in the tech industry.

Digital Transformation of the Tech Industry in 2021

Twilio reports that COVID-19 was the catalyst for the digital transformation processes worldwide and it has accelerated companies’ digital communications strategy by a global average of 6 years. In the same, data provided by Statista suggests that between 2020 and 2023 the global spending on digital transformation will double. As a result, further in 2021 companies worldwide will be forced to invest in the digitization of their businesses, including migration to digital platforms like apps, data analysis, augmented & virtual reality, or even chatbots.

Cybersecurity as One of the Main Digital Trends of the New Decade

Undoubtedly, we reached a new phase of the digital transformation at an accelerated pace, we can’t neglect the fact that cybersecurity is still under threat. The distributed nature of the Internet is one of the driving forces of cybercrimes. In the latest survey by PwC on cybersecurity, 96% of executives agreed that there is a need to shift the cybersecurity strategy of their companies as a result of the COVID-19 situation. The same report highlights that 55% of companies will increase their cyber budget.

Cloud Computing and IoT — Ways to Focus on Company’s Core Needs

According to recent reports, there will be 75.44 billion IoT (Internet of Things) devices installed worldwide by 2025, so it’s already clear that this phenomenon will affect our work, communication, and interactions with others. The IoT will help increase productivity of work from home employees and will enhance the way companies operate. Cloud computing will facilitate remote employment while offering unparalleled agility and scalability. Meanwhile, leveraging cloud computing will accelerate the process of data generation and analysis.

Businesses are focused on generating revenue and driving business growth — IoT solutions can help with that. Integrating workforce management in addition to IoT systems can enhance visibility and accurately determine profitable opportunities.

Artificial Intelligence (AI) Solutions to Challenges Presented by COVID-19

The importance of AI applications in the IT sector will continuously increase this year. PwC’s annual survey AI Predictions for 2021 emphasizes the fact that a quarter of the surveyed companies have already started adopting AI in their businesses.

  • AI will become a mainstream technology in 2021 for many companies. It has numerous benefits ranging from revenue growth to a more efficient decision-making process. Companies understand that the earlier they adopt it, the more advantages they will have in comparison to their competitors.
  • Strategic planning using AI, especially its automation capabilities, is the fastest way to get ROI. To use AI for strategic decision-making, companies increase investments in AI for workforce planning, simulation modeling, and supply chain resilience.
  • The first step to mitigating AI risks is establishing the right priorities for its application. A list of actions could help companies to ensure AI-driven decision making: reducing AI bias, monitoring AI model performance, ensuring AI compliance with privacy regulations, and improving AI’s cybersecurity.
  • The implementation of AI in the workplace takes time and requires effort. Team members will need some time to adapt to new rules. For example, in the case of AI, the standard approach won’t work here. The team will have to focus on testing, experimenting, and learning.
  • Companies will start integrating machine learning in addition to AI models and decision making will be more based on data. To reorganize the company successfully for AI, it’s recommended to add analytics and automation to the equation. There is an opportunity to build an in-house platform architecture that will suit your needs or invite third-party providers for this task.

Responsibility — the key to long-term success

In 2021, just using cutting-edge technologies is not enough, business clients and customers also care deeply about the company’s values, as well as its social and environmental responsibility.

Expecting the Unexpected in 2021

Deloitte’s 12th annual Tech Trends report outlines the fact that the world order got too complicated for the human brain to process on its own. For this reason, advanced analytics, automation, and AI gain popularity.

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Indrivo

Technology Solutions for the Digital Evolution. Information Technology and Agile Transformation Services.