In 2016, the world of business witnessed huge innovations and technological advancements in digital transformation. For starters, the internet of things (IoT) was further developed and we saw organizations demonstrate creativity in the solutions they devised. From sensors to energy grids, many private and even public sector organizations utilized IoT in order to become “smarter.” Looking ahead, Oxford Economics estimates that just over $1 trillion (USD) will be spent in the global IoT market by 2019.
Business leaders also continued to further explore the relationship between data analytics and artificial intelligence (AI). In fact, in their 2017 Tech Trends publication, Deloitte predicts that the digital universe is expected to increase in size. Data space as large as 44 zettabytes – where one zettabyte is equal to one billion terabytes – will be common space. It does not stop here!