Forrester: 5 key tech trends for the next decade
A new report from Forrester identifies five key trends in technology for the next decade..
The Top Trends and Emerging Technologies, Q3 2020 report looks at shifts likely to affect those working in, for or with technology.
The research organisation’s top level advice for CIOs for the next decade is that they will need to respond to digital acceleration and manage uncertainty. The report organises this change into seven domains – artificial intelligence; business automation and robotics; enterprise risk management; human experience and productivity; new compute architectures; next-generation communications; and zero trust security.
Forrester also pinpoints five key trends for 2021 and beyond:
Rising demand for ethical AI
Data ethics and data handling processes will become a core consideration for customers and businesses choosing data partners.
Recasting of automation roadmaps
Automation agendas will keep the momentum they have gathered from Covid-19, driving businesses into an era of unprecedented efficiency and expansion.
Moving toward hyperlocal business operations
Medium-sized businesses will have opportunities to expands their territory, employing centralised technology for efficiency while branching out into hyperlocal market.
Driving innovation everywhere using cloud-native technologies
Container platforms and serverless computing will usher in a new age of distributed enterprise software, including cloud providers, edge computing and software.
Shifting cloud strategies toward the edge
Breakthroughs in cloud-to-edge computing will see a shift to the mainstream for edge services that challenge the public cloud market.
Brian Hopkins, VP and principal analyst at Forrester, said, "The recipe for successful tech innovation is changing. The strategies that worked in the 2010s will not work in the 2020s. Firms that make big bets on new business models, new ways of working, and new talent will be more adaptive and resilient to the disruptive forces that will characterise the 2020s. To sprint forward, CIOs must renew their organization's resolve to digitally transform and turn these efforts into must-have foundational investments."
Find out more
Top Trends and Emerging Technologies
Read the report
Caption. Credit: Getty/xxx
Who Will Be the Next Tech Giant to Back Bitcoin?
PayPal was the first truly major tech giant to throw its weight behind Bitcoin, unveiling a cryptocurrency buying-and-selling service in October. Next was Tesla, which shocked onlookers in February by announcing the purchase of $1.5 billion in bitcoin, as well as plans to accept the cryptocurrency as payment.
Since then, things have calmed down as far as Big Tech and Bitcoin are concerned (although a number of banks have rolled out cryptocurrency investment services for their wealthier clients). This raises the question: when will another significant tech firm take the plunge and back bitcoin?
This is a difficult question to answer, if only because the bitcoin market is in something of a funk right now. At the same time, regulators worldwide are looking to restrict crypto in the name of curbing money laundering and other illicit activities. Nonetheless, rumours continue to swirl through the sector that a few other important names in the tech industry may be on the cusp of embracing bitcoin, with Apple being the most notable.
Is Apple Buying Bitcoin?
If you tend to spend any amount of time on Crypto Twitter, you may be aware of rumours to the effect that Apple has recently bought something in the region of $2.5 billion in bitcoin.
Such rumours were almost certainly a desperate attempt to boost the price of bitcoin. And given that the market didn’t witness a sudden, dramatic rise (but rather a steep loss), it seems pretty clear that Apple didn’t buy a substantial quantity of bitcoin in the past few weeks or so.
That said, there remains a good chance that Apple will enter the cryptocurrency sector at some point, even if it won’t be adventurous enough to buy crypto for itself. Back in May, it placed a job ad for a business development manager for “alternative payments.”
Such a manager would be tasked with cultivating partnerships with “strategic alternative payment providers,” implying that Apple may be weighing up the possibility of launching its own cryptocurrency-purchasing service (à la PayPal) via Apple Pay.
Needless to say, it would be huge for Bitcoin and cryptocurrency if the Cupertino company were to follow through with this.
Microsoft, Amazon, Facebook?
Rumours have also revolved around possible bitcoin interest from Microsoft, Amazon and Facebook, although there’s a little less substance to most of these rumours.
Back in October former Goldman Sachs hedge fund manager Raoul Pal predicted that Microsoft (along with Apple) would buy bitcoin in five years. Unfortunately, a CNN interview with Microsoft’s Brad Smith in February (shortly after Tesla’s bitcoin purchase) revealed that the company had no plans to purchase crypto, although Smith vaguely hinted that it might one day change its collective mind.
More interestingly, Amazon purchased three cryptocurrency-related domain names back in 2017: amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com. Nothing has been heard since then, while a job listing from February of this year revealed that the retail giant may be planning to launch its very own digital currency.
Facebook is another tech firm with plans for its own digital currency (Diem, formerly known as Libra). As for whether it’s likely to turn to bitcoin, a few relatively respected figures within the cryptocurrency industry (e.g. Alistair Milne) did spread rumours in April that the social media company would disclose bitcoin holdings on its Q1 financial statement. This didn’t happen, although Mark Zuckerberg did reveal in May that one of his pet goats is called “Bitcoin,” fuelling further speculation as to his and his firm’s interest in the cryptocurrency.
Risks and Rewards of Cryptocurrency
Again, it’s arguable that some or most of the rumours are generated largely to pump crypto prices. But if bitcoin and other cryptocurrencies do continue to appreciate in value and attract more adoption, it will become increasingly harder for large tech companies to ignore them.
But at the moment, it’s likely that most major tech firms will shy away from actually buying bitcoin, if only because it remains highly volatile and unpredictable as an asset. And as we saw with Tesla, buying a massive chunk of the cryptocurrency effectively turns you into a hedge fund overnight, something which can adversely affect your stock price if bitcoin goes down.
Even so, there’s clearly a considerable amount of money tied up in the cryptocurrency market. And with numbers of holders growing every year, it’s only a matter of time before other big tech firms attempt to siphon off some of this value for themselves.