2019 is in all but full swing and industry predictions, forecasts and outlooks abound. People are beginning to consider what this year will bring and what it will mean for the future. Will this finally be the year that industry technology begins to catch up with the rest of the world? Deloitte released their 2019 Technology Industry Outlook and there are a few items to highlight.
Growth of AI and Cloud Environments
The initial appeal of cloud based environments was the flexibility and scalability to pay as you go. While that value hasn’t left the arena of what makes the cloud so important, it may be descending the ranks. Businesses are beginning to understand the growing agility made available by this approach. We are entering an era of Everything-as-a-service (XaaS) and the ability for companies to experiment, adapt and create at lighting pace is essential. In the world of XaaS cost of entry and level of risk is lower, leveling the playing field between small and large organizations. This reality is stirring and democratization of innovation which will only increase the pace of encountering the next best thing.
Building for the Future
Data Silos continue to be a significant obstacle for businesses. In 2018 it was determined that 90% of the world’s data was generated in the previous two years. It is no secret that data has increased exponentially in the last 5 years, but have businesses made any plan to manage all of that data – and beyond managing it, can they leverage it? Hiring a chief data officer (CDO) is forecasted to be the reality for 90% of companies in 2019 and it will be the task of the CDO and their team to implement solutions for managing and leveraging their company’s data.
Build vs. Buy… Or Do I Partner?
Historically, companies have approach innovation through one of two means: do I build, or do I buy? But what if instead you were able to bring together your best assets to partner with vendors and scale your technology endeavors exponentially? Hiring an IT company and trusting that they were managing company security and recommending the best products and tools was a good approach in the past. In-house IT, while a good idea, can never quite seem to keep up with the demands of the business and decision makers are seeking outside XaaS options creating a web of unknowns. As we continue to move into the world of XaaS, the opportunities for departments that could have never historically breached a company’s data security in their day to day work, to give away important data are multiplying (we’re looking at you marketing department).
Supply Chain Technology
Historically the TMS was nothing more than a label maker – a means to and end to close out the order process and get the shipment off the dock. SwanLeap is changing the role of the TMS and placing it at the center of the organization – connecting departments from procurement to payment – providing true visibility and connectedness to restore business intelligence.