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IoT makes it possible to collect and analyze data in a way that optimizes various processes. Its importance will increase with the growing popularity of Web 3.0.
Many firms are in the middle of a digital transformation – companies that want to increase efficiency and improve their competitive advantage need to stay up to date on current trends. Smart digital technologies have the potential to change the way work and business occurs, especially the way firms interact with employees as well as customers.
Experts at SoftwareHut, which is part of the TenderHut technology group, have explained to Digital Journal about several key trends that are likely to dominate the software industry in 2023.
Low-Code/No-Code – saving developers time and companies money
The drive for faster deployment of software solutions and reduced costs are increasing willingness to use Low-Code and No-Code platforms among companies. Low-Code platforms are designed for developers who want to save time and reduce the cost of implementing a given project, while No-Code is designed mainly for business users who, thanks to drag-and-drop interfaces, can create solutions that suit the specific needs of a job – i.e. stock market analysists or marketing specialists. According to the latest forecasts from Gartner, the global market for Low-Code technology will reach $26.9 billion in 2023, up 19.6 percent from 2022.
Karol Rogowski, Head of Engineering at SoftwareHut tells Digital Journal: “We are seeing growing interest among our customers in low-code / no-code solutions. Used properly they can bring significant benefits to businesses. We support the companies we work with in selecting solutions that are best tailored to their specific needs. We are also significantly improving our skills in Microsoft Power BI – so that we can better help businesses make decisions based on the data they collect.”
Super apps or multifunctional apps
Another key trend identified by Gartner is related to super-apps, which the company says will be used by more than half the world’s population on a daily basis by 2027. The answer to having a loyal customer is being able to solve as many of that organization/person’s problems as possible, as quickly as possible.
This idea – originally created by developers in Asia – is equally applicable in other parts of the world. Super apps have a single interface that combines elements of different technologies (for example: social network + online shopping platform + mobile payment provider). This way people can pay our bills, shop at a “brick-and-mortar” store, and book hotel accommodations – all in one app.
According to Marcin Bartoszuk, Chief Operating Officer at SoftwareHut: “Most of the currently-available super apps are mobile apps – and this will certainly continue to be the tendency given our lifestyles. It is worth noting, however, that this concept can also be applied to desktop applications such as Microsoft Teams or Slack. The key will still be the same – combining and replacing multiple applications with one – for the benefit of the customer or employee.”
Artificial Intelligence (AI) and Machine Learning (ML)
Use of AI in the business world is increasing. One of its most popular applications is in voice assistants. These bots allow companies to interact with customers “instantly” and also significantly reduce their operating costs. Soon, as the possibilities offered by AI-based and ML-based technologies increase, chatbots will be used in various different and new cases. Grand View Research predicts that by 2030 the global chatbot market will reach $3.99 billion (it was previously valued at $525.7 million in 2021) with an annual growth rate of 25.7 percent.
Piotr Rarus, AI/Python Developer at SoftwareHut states: “Chatbots are used in many different areas of business. They can be integrated into a website, communication platform or mobile application and effectively support customers. They can also streamline a company’s internal processes related to communication and task automation. With the development of machine learning and artificial intelligence they will be used to handle jobs that will be increasingly difficult and help humans more effectively.”
Internet of Things (IoT)
The Internet of Things (IoT) is a very broad term which encompasses all networks of smart devices connected to the Internet. Today we associate it not only with smart watches or refrigerators which do their own shopping but also smart cities. According to Statista, the number of IoT devices worldwide will reach 38.6 billion by 2025. By 2030, on the other hand, it is expected to rise to as much as about 50 billion. McKinsley estimates that the global IoT market will reach $12.5 trillion by 2030.
Rogowski explains that “IoT makes it possible to collect and analyze data in a way that optimizes various processes. Its importance will increase with the growing popularity of Web 3.0 – the next-generation decentralized Internet – which will combine IoT-based and ML-based technologies to provide users with a more personalized experience.”
Finding a way to secure the gigantic amount of data circulating on the Internet is something that keeps many IT professionals – who are aware of the potential dangers related to – up at night. Blockchain, which first became popular as a technology used on the Bitcoin and cryptocurrency markets, is here to help. Data collected in sections (blocks connected in a chain) can be modified or deleted.
Blockchain is secure, easy to access, anonymous and maintains data privacy. It is also transparent and highly efficient. Today, we use it to record information about online transactions, store records, identify luxury goods or verify identities.
Marek Powichrowski – Database Tech Lead – explains: “It’s ability to provide a data history that can’t be tampered with makes Blockchain an ingenious way of recording valuable information that’s simple to implement and can’t currently be broken into. Blockchain can be used in the financial industry, world of scientific research and even to optimize legislative processes. The number of areas where it will be applied is certain to grow and it will surprise us on numerous occasions.”
The new digital age requires gigantic amounts of computing power that will be able to collect and process information more efficiently. The technologies described above won’t develop to their full potential without the right computing power. Having the right computing power isn’t possible without access to the right infrastructure. Moving forward we need to work hard on adapting existing infrastructure to the ever-growing needs of state-of-the-art technology.
Bartoszuk concludes: “More computing power will lead to the development of increasingly advanced software and applications as well as make it possible to process larger amounts of data faster. This, in turn, will drive innovations and open new avenues in areas such as artificial intelligence, machine learning and big data analytics.”
Dr. Tim Sandle is Digital Journal’s Editor-at-Large for science news. Tim specializes in science, technology, environmental, and health journalism. He is additionally a practising microbiologist; and an author. He is also interested in history, politics and current affairs.
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Tech trends: Seen through the eyes of developers – Digital Journal
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