Many people check their yearly horoscope for the New Year. I am not an astrologer but a technical person so I thought I should predict technology trend 2020 and other concerns. I think RPA, AI, ML, Cloud, and Analytics will be on top.
1 RPA (Robotic Process Automation): By RPA technology any skilled person can configure software or a robot that can work as a human with better efficiency within the digital system to execute a business process. Gartner estimates that by 2021, 90 percent of the large and mid-size organizations will have at least one process supported by RPA.
2 Artificial Intelligence (AI): Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems. A properly trained A.I. system can understand customer requests in natural language
AI and RPA are two best technology and when used together, they can create new possible solutions that just don’t exist when those technologies are used individually and it can give a new trend in the future.
I am seeing the uses of RPA and AI in below fields:
“We are seeing a drastic change due to technology enhancement. Now upskilling is more important than ever to avoid a gap between the skills and the organization’s needs”
Robot harvester: This precision farm machine can shape the future of India’s agriculture. Intelligent and autonomous, the robot will de-weed, prune plants, carry out targeted spraying of fertilizers and harvest crops.
Precision agriculture uses AI technology to aid in detecting diseases in plants, pests, and poor plant nutrition on farms. AI sensors can detect and target weeds and then decide which herbicides to apply.
2.2 Education Industry:
RPA: Course Registration, Shortlisting and Enrolment Process, Attendance management, scheduling meeting, Timetable updates, Equipment reservations, Human resources, Admin, Increased compliance, Improved customer experience
AI can automate the expedition of administrative duties for teachers and academic institutions. Educators spend a lot of time on grading exams, assessing homework, and providing valuable responses to their students. But technology can be used to automate the grading tasks where multiple tests are involved.
2.3 Manufacturing Industry:
Improve inventory management, reduce bill of materials (BOM) errors, ERP Automation reduces cost by minimizing human errors, Minimize operational costs, Advance process effectiveness.
While humans are forced to work in 3 shifts for ensuring continuous production, while robots are capable to work for 24/7 in the production line.
Novel Opportunities for Humans:
As AI takes over the manufacturing plant and automates boring and ordinary human tasks, workers will get to focus on complex and innovative tasks. While AI takes care of unskilled labor, humans can focus on driving innovation and routing their business to advance level.
2.4 Information Security
Secure sensitive information: AI bots powered by RPA can easily implement the General Data Protection Regulation (GDPR) regulations without interrupting the information stream. They are also able to create back-up copies of essential processes in case of an emergency shutdown. Can reduce the number of potential cyber-attacks
Eliminate unauthorized accessibility:
software robots can allow only certain people with certain credentials to access sensitive information within the system. They can also add a layer of encryption for more secure data usage, which may prevent any malicious attacks from outside the company.
Other use cases are Spam Filter Applications, Network Intrusion Detection, and Prevention, Fraud detection, Hacking Incident Forecasting…etc. Artificial intelligence in cybersecurity is beneficial because it improves how security experts analyze, study, and understand cybercrime.
2.5 Banking Industry
RPA: Customer Service, Compliance, Accounts Payable, Credit Card Processing, Fraud detection, Report Automation, Account Closure Process, KYC, General Ledger, Underwriter Support…etc
Artificial Intelligence is the future of banking as it brings the power of advanced data analytics to combat fraudulent transactions and improve compliance. AI algorithm accomplishes anti-money laundering activities in few seconds, which otherwise takes hours and days.
If all the sector will use RPA then demand for RPA related skills will also increase which will include Technical + Sales/marketing. Artificial Intelligence to Create 58 Million New Jobs By 2022, Says Report.
2.7 Healthcare industry:
Simplifying patient appointment schedule, Claim Management.
Improving healthcare style. RPA bots can be used in accurate diagnostic and treatment.
Integrating AI into the healthcare ecosystem allows for a multitude of benefits, including automating tasks and analyzing big patient data sets to deliver better healthcare faster, and at a lower cost.
Analytics are playing an increasingly important role in the growth and measurement of companies across the world. Not only analytics can tell us if we are successful in our market, but they can also help us predict where the markets will move next. With cloud computing, IoT, and big data growing, data is getting murky and clouded. Analytics tools utilizing machine learning will be needed at a far greater extent than currently implemented to make sense of the data, identify issues, and even recommend actions.
4 Cloud Computing:
As per cloudreach.com, 83% Of Enterprise Workloads will be in the cloud by 2020, of which 41% of enterprise workloads will be run on public cloud platforms.
New technology Quantum Computing will allow computers and servers to process information at rapid rates compared to current standards. AWS, Google, Microsoft, and Alibaba are established as major cloud vendors. IBM’s acquisition of Red Hat and Oracle’s partnership with Microsoft in 2019 will be a discussion point in 2020. Securing data in the public cloud will be in focus after we have seen a security breach in AWS.
Impact of new technology: We are seeing a drastic change due to technology enhancement. Now upskilling is more important than ever to avoid a gap between the skills and the organization’s need. According to a Nasscom study, approximately 40% of the estimated four million people in India will need to re-skill themselves in upcoming years with new technologies. In the current scenario, upskilling and reskilling of employees is critical if they are not to be replaced.
I. What about the employees who will lose the job due to RPA, AI, ML? Maybe a few of them will get the job after skill enhancement or training but not all.
II. Computer and Mobile are essential for any business now, but Cyber Security cost is going to be a financial burden and fear factor for a company, banks, and the general public. Security product OEM and partner’s business growing better than that company.
Suggestion: We private sector IT Employees should have a UNION through which we can put our essential demand to Govt and through which we can help each other also. It should be the same as there is Bank or other unions. Job loss is a common thing in our sector and in that case, we only can help each other.