A Modern-Day Gold Rush
There is no doubt that as long as the digital realm exists, Information Technology (IT) will lead the charge in innovation. This sector has persisted in the face of recessions, market crashes, and even global pandemics. It’s robust, far-reaching, and ever-changing. And those that want to remain at the forefront of this innovative curve must be prepared to adapt.
In 2021, the global Information Technology industry is valued at nearly 5 trillion dollars and is expected to grow by over 104% by 2023. Between software, hardware, infrastructure, business services, and telecom companies, this market makes up a significant percentage of the global economy. Not only is it a massive staple of modern economics, but it’s also a key component in the success of most other business sectors. These industries wouldn’t be able to work effectively in the internet age without significantly investing in IT.
To remain informed on the leading edge of the IT sector, businesses must be mindful of market forecasts and emerging trends. But with such an obtuse term as Information Technology, where does one begin?
The Trends Transforming the IT Industry
The IT industry is an ever-evolving creature where trends can quickly shift and change. And as an IT professional, it’s crucial to stay on top of these changes to maximize efficiency, security, and relevance for your business. Some of the recent trends in this industry include
1. Cloud Computing
Cloud Computing is a system of remote networking that allows users to access resources that aren’t available in localized storage. These systems give businesses the power to minimize storage spaces and maximize efficiency across an extensive network. This sector has been booming for several years, with forecasts showing that 83% of all work will be done via Cloud Computing by 2020.
2. Mobile Apps
As we all know, mobile phones and tablets aren’t going anywhere anytime soon! Since 2011, smartphone use has increased nearly 77%! These powerful tools have taken over the world in a skyrocketing trend that doesn’t seem to be letting up anytime soon.
3. Big Data Analytics
Big data is a huge part of contemporary digital life and an even larger commodity. The examination of data for businesses has quickly grown into an enormous industry. With tools making analytics even easier to seek out and digest, more and more enterprises will buy, sell, and trade data for huge profits.
The automation of computer-based processes has also become a big IT trend. By automating software to collect important customer data from customers and vendors, businesses can maximize efficiency and profits by using data that once took years to research and understand.
5. Artificial Intelligence
AI has been an inseparable part of our society long before it was an actual working tool. Artificial Intelligence systems use advanced machine learning to make human-like decisions while simultaneously learning from them to improve their accuracy. These systems are causing a considerable stir in the business world, where companies seek this technology to improve their efficiency and maximize profits.
6. Virtual and Augmented Reality
Virtual reality has been a pipedream for many years but recently has made an enormous splash in many different fields, from architecture to the healthcare industry. Augmented reality is also experiencing a significant upward trend, with businesses harnessing technology consulting to enhance real-world experiences.
7. Blockchain Data
Blockchains are a secure method of transferring and securing cryptocurrencies. These systems have an extensive effect on shared data operations where protecting the original data is of maximum importance.
8. Cyber Security
Probably the most prominent IT profession, cybersecurity has always been a vital aspect of the digital world. Protecting businesses and their sensitive data will always be at the forefront of modern computing standards and only shows evidence of growth in the forthcoming years.
9. Edge Computing
Edge computing is a system of bringing data and processes physically closer to their original data sources. By doing this, users can receive faster, more stable, and reliable services. This system is also one method for a large company to distribute resources across a large number of branches and locations.
The Impact of AI on Information Technology
As we’ve mentioned, Artificial Intelligence is a massive part of our future. A few years back, this technology was relegated to Hollywood movies and pulpy science fiction. These days, AI is a part of our everyday life. From facial recognition to data automation, AI has taken over many traditional computing systems and altered the way companies conduct business. It’s prevalent in everything from financial sectors to modernized healthcare.
According to estimates, Artificial Intelligence is anticipated to become a market worth over 190 billion dollars by 2025. To put this in perspective, the entirety of America’s GDP is expected to rise by over 14% due to advances in AI alone.
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