What can we predict for the IT industry in 2018?

2017 is a significant year for digital transformation. Machine learning, AI and big data are some of the technologies that dominated in 2017. Advances and advances in these technologies will continue for years to come – but what can we predict for the IT industry in 2018? Will AI prove to be job-creating or destructive? Do global technology giants have to sacrifice themselves to create new leadership opportunities? Will 2018 prove to be a slow death for IT experts?

Today, technology innovations come faster than most enterprises can adapt. Often, before one innovation is adopted and implemented, the other two appear on the horizon. In order to deal with these endless innovations, the CIO of the enterprise must first act as a business strategist and secondly as a technologist and acquire the skills that will lead to the right pace for digital transformation.

The rate of innovation and progress will not decrease in 2018. So, we’ve put together some influential technology forecasts for 2018 and planned for:

Prediction # 1: Global tech giants will deliberately self-destruct

Global tech giants such as Amazon, Facebook, Apple, Google, Microsoft, Alibaba, Baidu have come up with innovations by exploring previously undiscovered alternatives such as conversational UX, chatbot and voice and visual search. Eventually, their influence became so great that it was now difficult to find new outlying areas for innovation. Thus, these technology-giants potentially self-destruct their income bases to create new opportunities.

For example, Apple’s recent Face ID launch vs. Touch ID and AWS Lambda vs. the traditional cloud virtual machine set an example of self-defense for tech giants.

Prediction # 2: Blockchain-based cryptocurrencies will contribute to the trillion-dollar business value of the banking industry.

According to a CNBC report, the total value of all digital currencies (approximately 1300 different cryptocurrencies) is over $ 588 billion, with Bitcoin dominating the market. This market capitalization is forced to exceed $ 1 trillion, looking to increase market interest. Whatever the price of Bitcoin, blockchain technology has a real place in the future of technology.

Prediction # 3: Emergence of the role of IT versatileists

It is predicted that, globally, the IT sector is going to face a huge job churn in 2018, where it will add about 100,000 new job profiles, excluding 80,000. AI related job creation will touch 2 million net new jobs.

Currently, IT specialists account for about 42% of the entire IT workforce. According to Gartner, 40% of the IT workforce will be versatile IT professionals in the coming years and we will see a 5% reduction in hiring IT specialists. The role of a versatile IT specialist will be more than a business strategist, not a technologist, to scale an enterprise’s digital business.

Prediction # 4: Brands that redesign their websites to support visual and voice search increase digital marketing

Visual and voice searches are transforming users’ engagement with digital channels. With the advent of voice assistants like Alexa, Google Assistant and Siri, voice search queries have become the majority for fastest growing mobile search. Visual search, on the other hand, adds more precision to a search because, a picture speaks more than a thousand words.

The huge investments made by tech giants like Apple, Google, Facebook, Microsoft in machine learning and AI will make it clear that their voice and visual searches will accelerate in the coming years.

Prediction # 5: Increasing investment in bots and chat bots, sidelining mobile applications

Bots and chat bots are new aspects of AI. User attention is shifting from separate mobile applications of enterprises to bots and chat bots. The predictions claim that by 2022, more than 60% of all large enterprises will have at least one chat bot installed. Proper use of virtual assistants will increase customer engagement and automate various tasks to free up staff.

Accelerated enhancements to Natural Language Processing enable today’s chatbots to better articulate user intent than their predecessors.

Prediction # 6: The open source ladder will continue to rise

A decade ago, Linux was a novice when it is mainstream today. In earlier days, Google, Amazon, Microsoft were forced to create their own proprietary tools because they did not have any software to meet their needs. Many open source frameworks are becoming an integral part of the fast developing workflow. Thus, this paradigm shift is changing what enterprises are investing. Creating open source software, which is the biggest competitor to traditional software.

Prediction # 7: IoT will convert to BIoT

The combination of IoT with blockchain is predicted to be an empowerment blend in IT this year, where it will launch a whole host of new businesses and services. With the implementation of BIoT, delivering real-time updates from various sensors embedded in products will empower everyone in the chain with insights they may not have received before.

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

The article was first published in Signet Infotech.