AI, 5G, ML, and IoT are the technologies to watch in 2022, according to a recent research from the technical professional association IEEE. Artificial Intelligence (AI) and Machine Learning (ML) are the technologies that almost one-third of respondents (32%) are most enthusiastic about in 2022, according to the study. 5G and the Internet of Things (IoT) came in second and third, respectively, with 20% and 14% of the vote. Chief Information Officers (CIOs) and Chief Technology Officers (CTOs) from the United States, the United Kingdom, China, India, and Brazil were among the responses. Manufacturing (19%), healthcare (18%), financial services (15%), and education (13%) respondents were the most enthusiastic about these futuristic technologies.
The explanation is simple: CTOs and CIOs predict that, combined with 5G, these technologies will have the greatest influence on recovery, growth, and competitiveness in 2022.
Most businesses had a difficult year in 2022. The covid-19 epidemic wiped off much of the advances gained in recent years, causing most businesses to postpone new launches, slash marketing costs, and make other difficult decisions that impacted bottom-line measures such as sales and profitability.
Many businesses see 2022 as a time to make up lost ground and get their businesses back on track to profitability.
More than 52 percent of CIOs and CTOs intend to spend the year working with Covid-19 recovery, according to the IEEE report. Covid-19-related difficulties are at the top of the list, including transitioning to a permanent hybrid remote and office work structure, reopening offices and facilities, and managing remote workforces.
The four technologies, AI, ML, IoT, and 5G, give businesses the tools they need to reclaim profitability. AI and machine learning enable automation in a variety of aspects of the business, easing the burden on the company’s shrinking personnel.
The two also improve accuracy while eliminating duplication, resulting in higher production. Meanwhile, IoT and 5G give us the capabilities we need to facilitate distant work and improve customer service.
Although most businesses will focus on recovery in 2022, virtually all of them will also be looking to expand. CEOs are always considering new strategies to enter new markets, launch new products, and maybe increase market share.
These objectives are still in place, despite the ongoing pandemic. Depending on their circumstances, some companies may opt to pursue both development and recovery goals at the same time, while others would prioritise rehabilitation.
This helps to explain why the CTOs and CIOs polled are also considering other technologies like cloud computing and faster 5G adoption.
Although most businesses will focus on recovery in 2022, virtually all of them will also be looking to expand. CEOs are always considering new strategies to enter new markets, launch new products, and maybe increase market share.
These objectives are still in place, despite the ongoing pandemic. Depending on their circumstances, some companies may opt to pursue both development and recovery goals at the same time, while others would prioritise rehabilitation.
This helps to explain why the CTOs and CIOs polled are also considering other technologies like cloud computing and faster 5G adoption.
Personalization/customization and marketing intelligence are two features of artificial intelligence that are likely to provide you a competitive advantage. You may use AI to obtain the knowledge you need to adapt your content, emails, and offers to fit the demands of your customers.
You’ll be able to offer superior customer service as well. More crucially, you may employ AI robots (software) to watch your competitors more carefully and more cost-effectively in order to uncover possibilities to exceed them.
Machine learning provides you a competitive edge by allowing you to perform more in-depth and faster analyses, as well as greater consumer comprehension, tagging, and enhanced search. The influence of more in-depth and faster data analysis is the greatest of these.
Data will play a significant role in the future. Breaking down enormous volumes of data from consumers and turning it into meaningful information may mean the difference between winning and losing clients for businesses.
Finally, the importance of the Internet of Things and 5G in establishing a competitive edge is clear. Globally, there are more linked devices than ever before, and the number is growing by the minute.
It will be vital to have a strategy that allows you to trace your customer’s journey across multiple devices and platforms. It allows you to improve products, lower pricing, and improve the consumer experience.
Finally, CIOs and CTOs are adopting AI, ML, and IoT in large numbers because they see the need to improve customer service in 2021.
For starters, several studies predict that 2021 will be the year when customer service becomes a sales tactic. Aside from pricing and goods, businesses will compete on service, with the best business winning the consumer.
Adopting an omnichannel approach will become increasingly important as the number of devices and internet platforms grows.
Companies may leverage the four technologies, including 5G, to address pressing customer service issues and, as a result, increase customer loyalty.
Take customer complaints, for instance. Even mid-sized organizations receive thousands of customer complaints every day, and many have done an excellent job addressing them.
But managing several thousand complaints a day can be overwhelming even for a well-staffed customer service department. It’s also relatively expensive for the organization.
That’s where AI, ML, IoT, and 5G come in handy. Through AI, organizations can devise chatbots and other robotic assistants that address some types of complaints.
ML can help sort the complaints into different categories based on keywords or phrases and even judge the tone, allowing the customer department to personalize the automated responses. At the same time, IoT would provide the analytics and 5G the speed of response.
Everything in the world has changed. “Things aren’t going to be the same,” says Carmen Fontana, an IEEE member and Centric Consulting’s cloud and new technologies head. We need to adjust to the new circumstances.
Artificial Intelligence, Machine Learning, the Internet of Things, and 5G give businesses a set of capabilities to help them recover quickly from the covid-19 epidemic. If you’re unfamiliar with some of these technologies, reach out to Sharptechnica Solutions for assistance.