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Future developments in analytics and AI – eCommerce magazine

The Covid-19 pandemic has shown that digitization can help to cope with the economic, social, ecological and health challenges. Which Technology trends in the areas of analytics, artificial intelligence, cloud and IoT will shape the year 2021.

With the Development of cloud computing the necessary computing power and scalability is available to use analytics and AI across the board. New technologies and applications, which until a few years ago still involved a lengthy procurement process and high infrastructure costs, can now be easily used via a cloud provider who provides the hardware and support services as required.

Technology Trends: Increasing Confidence in AI

The more insight those responsible into Results of AI the more confidence they develop in the decisions that the models provide. Human control and traceability of the models in every step of the decision-making process thus lead to greater acceptance of AI and automated decisioning.

Patient-centric pharmacy saves more lives

Clinical research will – after the experience with Covid-19 – focus more on the individual patient. Sensors, wearables and apps allow them to be cared for longer at home – 24 hours a day. Data-driven processes and advances in analytics advance drug development and open up innovative treatment methods.

Clinical trials bundle research for multiple drugs and thus deliver faster results. A wide range of current therapeutic approaches is available for the individual patient, so that he receives treatment that is precisely tailored to his or her special needs.

Consumers get more control over technology

Digital transformation is absolutely crucial for success. Consumers use a variety of applications: shopping, banking, communication, utilities, insurance, healthcare – there is now an app and community reviews for everything. Consumers expect tailor-made offers, simple payment options, same-day delivery, free returns and – overriding – of course, ease of use and outstanding service.

Businesses have to work hard to keep up with digital corporations by adopting more efficient supply chains, 24-hour customer service, and easy appointment scheduling. Analytics helps to implement these with the greatest possible effectiveness and efficiency. Only companies that can quickly read new customer trends from their digital touchpoints can win this race.

Technology trends: The smart small town is catching up

Since companies have mainly prescribed remote working, there has been a kind of reverse migration in many countries: the trend is increasingly moving away from the metropolis towards the medium-sized town. As a result, providers had to adjust their strategy in the areas of broadband internet, delivery services and other smart services, for example. All those responsible in a smart city (or community) must pull together to support this reverse migration so that remote working can also work in rural areas. This affects authorities as well as technology companies and service providers.

Data natives form the next generation of workforce

Two factors will determine the success of the next generation of data natives: individually tailored curricula and the ability to understand and use data in all its facets. As newcomers to the job market, graduates need analytical skills and a talent for storytelling, project management and an understanding of ethical aspects and compliance. Personalized learning paths that promote precisely these skills are the key to asserting yourself later in the workplace.

Technology trends: Traditional industries are reinventing themselves

The efforts to modernize their processes and services with AI and analytics have refreshed the reputation of public administration and traditionally oriented industries such as banks or the post office. Data-driven decision-making and the proactive shaping of public order against the background of Covid-19 has met with a positive response from citizens. Large banks that use AI to modernize their business processes are demonstrably improving their customer service and other areas.

SAS is a provider of analytics solutions and one of the largest software manufacturers with sales of more than three billion US dollars. Customers use innovative software and services from SAS to turn data into knowledge and make intelligent business decisions.

Also read: Technology trends: 7 key predictions for 2021