Top trends that will reshape Australian businesses

IOT The Internet Of Things (IOT) won't just remain a buzzword with 5G being introduced. IOT which is a network of interrelated computer devices with...

Top trends that will reshape Australian businesses

March 6, 2019

IOT

The Internet Of Things (IOT) won’t just remain a buzzword with 5G being introduced. IOT which is a network of interrelated computer devices with the ability to transfer data over a network without human-human or human-computer interaction will greatly revolutionise banking, retail, food, transport, logistics, and emergency services.  Adding to that, 5G services are expected to be hitting Australia later this year.

5G networks

5G networks will be capable of download speeds as fast as 20Gbps. The exact speeds an individual user will get will depend on how the network has been configured, the number of devices on the network, and the device in their hands. The 5G specification states that individual users should see a minimum download speed of 100Mbps. The upgrade to 5G will also allow more simultaneous devices connected to the network.

Affordable Artificial Intelligence

Google and Facebook have enough data to offer to global marketers. The capabilities of AI are more than a dynamic change of prices of the services we engage day to day. For instance, e-commerce businesses have already started engaging chatbots to have a primary level of interaction. Only when a certain threshold is met, a real human starts to interact with the end user. Thus providing a seamless experience and at a low cost.

A push towards driverless vehicles

With driverless vehicles and delivery robots gaining trust at numerous events such as CES 2019, driverless vehicles will be deployed at a smaller scale within safe environments of production.

Interaction over social media

Active interaction of business over social media has already been there for close to a decade. Businesses have embraced it and found success. This will increase more.

Augmented Reality

It has already been more than a year since Ikea launched Ikea place which allowed users to choose types of furniture and move around the rooms. Now more businesses across domains like hospitality, fashion, automobile and retail have shown interest in implementing Augmented reality to give their customers a glimpse of their product and experience.

Interest in blockchain

Bitcoin may rise and fall, but blockchain stays. Tech giants like IBM have successfully collaborated with companies like Nestle, Walmart and Costco to blockchain based systems to improvise food supply chain safety.