The new year brings unexpected challenges and opportunities. The market can change in an instant and you’ll be left hanging far behind trends. We want you to stay ahead of the competition by being the first to know “what’s up” in the year 2020. Wedialab has compiled a list of forecasted trends that will definitely be a hot topic for the upcoming year. So what you’re waiting for, onwards we go!

Mobile Commerce 

Convenience is a key factor to this rising trend. As the days go by, more and more people are relying more on their mobile phones to shop and make transactions. It’s easier than opening up your PC and going online.  Even in traditional retail stores, peopel are already using their mobile phones and apps such as Apple Pay and Google Wallet to make purchases. Most developed countries are already heading towards a fully cashless world in making financial transactions. Countries such as China use Alipay and WeChat to pay for almost everything and has made life simpler for many. 

5G Network 

Started from the bottom and now we’re at the number 5. Most probably you’ve heard about 5G WiFi, the lightning fast internet cellular network. All the mobile network providers are already tapping into 5G and improving it. The increased bandwidth will give even faster internet speeds. Besides that, 5G will also be implemented into the use of drones and driverless cars, allowing them to rapidly communicate with other smart devices. 

Prescriptive Analytics 

There are currently two major models of analytical tools which are descriptive and predictive analytics. 

• Descriptive analytics gives insight into what has happened with historical data. 
• Predictive analytics helps forecast what might happen. 
• Prescriptive Analytics however aims to find out the best solution or outcome among various choices by taking advantage of the results from descriptive and predictive analytics.

Currently, prescriptive analytics has already seen application in the oil and gas industry as well as healthcare. Sooner or later, this model will eventually creep in to many more industry sectors that involve analytics. 

AI as a Service 

We have the Saas business model whereby providers host applications and make them available to customers over the Internet. What’s going to be happening now is the combining of the SaaS model with AI services in hopes that  AI can be available to the masses without heavy price tags. While the concept of AI is racing ahead in some areas and lagging in others, there are already some AI provider platforms offering services such as processing-intensive GPU workloads. Large companies such as Google, Amazon, Microsoft already offer machine-learning solutions and other training materials. AI is definitely going to be more advanced and more in demand from days to come. 

Alternative-Cryptocurrency Collapse

Cryptocurrency has always been a love hate relationship amongst masses. Many believe in it and many don’t. Whatever side you’re on, one thing can’t be denied. The main dominating crypto market is still bitcoin. Bitcoin now has a market dominance of around 69 percent after being as low as 35 percent in January 2018. The surge in price has raised questions of whether Bitcoin could really be a new kind of digital gold. Blockchain technology has already seen practical applications in healthcare, asset management and intellectual property. But whether Bitcoin and the blockchain will radically change the way we live, it is still currently in a working progress. 

If this knowledge still isn’t enough for you to win over your competitors, we have another thing that will defintely be your secret weapon. Read about Performance Marketing and get your mind blowned. Or you can also come talk to us directly on our website www.wedialab.com so that we can help you achieve your goals!