Every year brings tremendous zeal in technology world with newer and better ways of doing things. Although 2016 had its share of ups and downs, 2017 looks set for a digital transformation. While cloud computing witnessed massive adoption and algorithms turned out to be new trendy expressions, new technologies like Augmented Reality and Artificial Intelligence revolutionized industries across the board. Tech biggies like Facebook, Google, Amazon, and Apple are already revving up to offer ultimate customer experience. By understanding the potential impact of these developing trends, business pioneers can integrate these findings into their strategic decision making, allowing them to plan operations and frame the business models accordingly.

Following are interesting trends that can dominate technology world this year:

Artificial Intelligence

From SIRI to Self-driving cars, Artificial intelligence (AI) is progressing quickly. While science fiction often portrays AI as robots with a human-like attribute, AI can incorporate anything from traditional algorithms and programs. It is made out of many technologies and techniques such as deep learning, neural networks, and natural-language processing. It has been on the radar of innovation pioneers since long time, and while we don’t yet have autonomous machines helping us to make decisions or execute complex tasks, most enterprises have received some or other benefit from AI.

Augmented Reality (AR) and Virtual Reality (VR) technology

According to the Gartner, one in five leading global retail brands will be using augmented reality (AR) as a essential innovation supporting the online experience by the end of 2017. As we know, Niantic’s Pokémon Go game introduced AR to worldwide audience, giving players an essence of how data and images can be overlapped on any image or setting to add content and even video to the real world. AR blends digital components and experiences with the real life. While virtual reality offers an exceptional medium to experience our general surroundings by realistic training simulations to interactive learning environments. With VR, designers and clients now have the ability to preview their designs before anything goes into production.

Internet of Things (IoT)

While in 2016, IoT was focused around reporting and sensor-based control, 2017 will see IoT really doing things instead of simply detecting. In fact, IoT will include robotics, automation and much more. It’s important for business and IT pioneers to assess all Internets of things alternatives and approach IoT activities smartly and in a cost-conscious manner. IoT revolves around three essential ideas of the ability to connect, compute and communicate. Growth will be seen in industrial IoT and Omni-channel IoT solutions.

Cloud ERP

With the rapid spread of the internet, cloud services could become more affordable for SMEs. Essential to Cloud ERP systems is a shared database that supports various functions used by different business units. That permits users in different divisions to access and rely on the same information for their particular needs. As indicated by a Gartner report, by 2018, at least 25 percent of new core financial application organizations in large enterprises will become open Cloud ERP. Data Centre business will prosper along with the cloud shift, as organizations will search for cloud service providers to reduce expenses and increase the adaptability of operations.

Digital Twins

Digital twins are virtual portrayals of a physical product. This dynamic programming model depends on sensor information to comprehend the condition of the product, respond to changes, enhance operations, and add value. It is a cloud-based virtual representation of a physical resource that can be used for resource optimization, product design, simulation, monitoring, and enhanced user experience in nearly all industries. These are capable digital objects that can be utilized to streamline the physical world, essentially enhancing operational execution and business processes.

Machine Learning

A variation of AI, machine learning is attracting investments from IT players. Machine learning is a strategy for data analysis that automates logical model building. Using algorithms that iteratively learn from the information, machine learning permits PCs to find hidden insights without being explicitly programmed where to look. Banking, supply chain management, healthcare, consumer services; and so on remain to gain extensively from machine learning.

Blockchain technology

Blockchain is a distributed and decentralized ledger technology database intended to record transactions. Instead of using intermediaries such as banks, state authorities or trading platforms to validate the transactions of certain assets such as digital properties, digital contracts, or even financial transactions via Block chain technologies like Bitcoins. It permits individuals to transfer these assets in an immediate, safe and secure way between each other. Blockchain’s integrity relies upon strong cryptography that validates and chains together blocks of exchanges, making it difficult to alter any individual transaction record without being recognized. In the year 2017, Blockchain or the distributed ledger idea will acquire more traction because of the promise it holds to transform the operating models in different ventures.

These most recent innovation trends are going to rule the information technology sector and will play an important role in business growth. It’s difficult to precisely anticipate how every innovation will impact your business, but it pays well to be aware of tech developments as they occur and work proactively to react to them before your competitors. To stay competitive, you will have to grasp the opportunities that this trend brings with itself and change almost every aspect of today’s conventional methods of working.