Every business is already an IT business today. Enterprises or SMEs, every workplace today accesses digital tools and solutions in the most organic way. We are adapting to futuristic technologies faster than ever, thanks to the disruptive year 2020. And India is one of the fastest growing IT markets in this race, after the United States and China. The IT industry here has grown over the past two decades and is expected to hit the $100 billion mark soon.
The Indian government has also pushed for rapid digitization, which has led to increased investment in the IT sector. In the recent Union Budget of 2022-23, the Government of India has made some announcements which will bring about major developments in India on the digitalization front. Apart from direct digitization in the banking, higher education and healthcare sectors, the country will soon have its own digital currency issued by the Reserve Bank of India, the country’s apex bank. In addition, the government has announced that data centers will be granted infrastructure status in the country, which will allow them to play a key role in building a digital economy.
Here are some of the major technology trends that will continue to transform the Indian IT industry in the current year: Internet of Things, Artificial Intelligence, Blockchain Technologies, Cloud Adoption and data security and cyber protection.
1. Internet of Things (IoT)
The Internet of Things is a network of devices, vehicles, appliances, and other things integrated with electronics, software, sensors, and network connectivity that allow these objects to collect and exchange data. In 2022, the IoT will be firmly embedded in people’s daily lives. The number of IoT-connected devices will triple by 2022, to 25 billion. Most cars and homes will be connected to the Internet by 2022. Individuals and businesses will benefit from this connectivity.
The IoT enables the autonomous collection of big data, which helps companies gain insights into customer behaviors and product performance. IoT also facilitates the continuous optimization and automation of business processes and even helps improve employee engagement and performance.
2.Artificial Intelligence (AI)
AI is one of the hottest technologies in recent years. This has led to significant advancements in many areas such as speech recognition, natural language processing, robotics, machine learning, and computer vision. According to Gartner, AI and machine learning (ML) will be used in more than 80% of IoT activities in enterprises by 2022. Hyper automation is one of the main results of AI, and this will be one of the drivers of digital transformation in 2022. Hyperautomation ensures the streamlining of processes to increase efficiency, accuracy and productivity. In 2022, we will see AI and ML increasingly active, infusing more automation and taking over most mundane tasks, allowing us to focus on activities that will require more human touch and intervention. . With artificial intelligence and humans working together, the workforce becomes an augmented workforce. AI will not replace humans, but will work together to add efficiency to our work.
Blockchain is a technology that allows digital information to be distributed but not copied. It is a large, globally distributed database that can be applied to everything from payments and banking to complex computer programs. A report by industry association IDC predicts that global spending on blockchain technologies will reach $9.7 billion in 2022. Blockchain is a highly disruptive force for enterprise software. One of the most intriguing applications of blockchain technology is supply chain tracking, which tracks products from their inception to when they are stored in warehouses and ultimately sold to customers.
Blockchain is also used to reduce fraud in digital contracts and create faster data retrieval for distributed ledgers. The technology is continuously being developed, with some of its latest applications being smart contracts and cryptocurrencies. In the future, blockchain technology will be used to manage personal health records, make payments, and even smart buildings.
4. Cloud adoption
Cloud computing has become an increasingly popular way to store and manage data, which means more sensitive information is in the cloud than ever before. Cloud computing is often seen as a more secure alternative to on-premises solutions. It’s also a better choice for most businesses because it reduces hardware and maintenance costs by only paying for resources when needed. By moving some of the infrastructure to the cloud, companies can also significantly improve their security posture.
Additionally, companies that previously used single cloud resources are now exploring multicloud options. Previously, with the single cloud, companies often suffered from vendor lock-ins, and it was also risky and expensive to store all data on a single server. Multicloud is a better option when it comes to disaster recovery. Instead of establishing a traditional on-premises disaster recovery capability, cloud resources can be utilized as needed. Since each vendor will come up with their own unique selling propositions, whether in AI, machine learning, or analytics, a multicloud strategy will give organizations the advantage of each platform’s competitive edge.
5.Data security and cyber protection
Security and data protection will remain the areas of greatest concern in 2022. Over the past two years, businesses have been riddled with constant threats of ransomware attacks, data breaches and major IT outages, which have become even more troublesome than supply chain disruptions or COVID-19. pandemic, all of which have had a significant impact on businesses over the past year. 2022 will be another challenging year, as there is still a significant talent pool to fill for effective cybersecurity management. Furthermore, it is estimated that cyber attacks will be relentless in attacking small and medium businesses.
End-to-end encryption is already becoming mainstream, along with zero-trust policies for network security and data access control. However, things will continue to look grim in the years to come as ransomware attacks loom ominously. According to research agency Cybersecurity Ventures, the frequency of ransomware attacks against a consumer or business will only increase every two seconds by 2031. Cybersecurity insurance premiums will increase as the number and number of complexity and it is more likely that Ransomware-as-a-service will only be growing darknet activity over the year, also giving rise to a gig-economy for hackers.
India is a rapidly developing digital economy, and all global technology trends will also impact India’s IT sector. As mentioned, digitization will pervade all industries in 2022, making every organization an IT business. Smart and immersive technologies such as AI, AR (Augmented Reality), ML, IoT will become mainstream and play a constructive role in improving business efficiency. Multicloud adoption will be on the rise, as will cybersecurity vulnerabilities. Together, 2022 will be an interesting year with technologies playing the main role in our lives.
By Vikas Bhonsle CEO Crayon Software Experts India