Top Innovative Trends for 2022

January 10, 2022

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At the start of each year, businesses big and small look to understand the changes that will impact their business in the coming months. Understanding the innovative trends for 2022 will not only help your firm streamline existing workflows but also help create a competitive edge in the market. Here are the top trends that we believe will be critical this year.

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Data Fabric

Today, businesses generate, track, and process a vast amount of complex data to gain more visibility and competence. However, they use it in departmental silos, which weakens the growth of firms in the face of disruptions. Data fabric has emerged as a design concept that aims to overhaul how data is presented, accessed, and used to build organizations.

Data fabric analyzes existing metadata and comprehensively integrates it as actionable insights available to be accessed from anywhere. For data fabric to work, it's important to feed it contextualized data from all corners of the organization and allow it to build knowledge graphs to improve decision-making and save operational costs. Gartner mentions that a perfect execution can reduce data management efforts by 70%, which is why data and analytics (D&A) leaders are investing heavily in proprietary data fabrics this year.


Quantum Computing

While it's important to streamline existing data points, it's also crucial to recognize the need for a new breed of computational power to solve complex problems. For years quantum computing has been prophesied to bring the next generation of computational excellence, and in 2022 we'll finally see steps being taken in the right direction.

Big players such as IBM, Google, and Alibaba have invested heavily to optimize existing algorithms to facilitate the introduction of high-performance computing across the board. In 2022, we've reached the tipping point where the limitations of the existing computers can no longer restrict organizations. Quantum computing will first make its presence felt in cybersecurity and supply chain, but it's biotech that we think will gain the most.

Huge R&D investments are set in motion to meet the rapidly growing challenges of big data analysis, and accelerated computation is the answer to stay future-proof.

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Hyperautomation

Hyperautomation focuses on limiting human involvement in day-to-day processes by building interconnected networks based on triggers. The success of Zapier has pushed businesses to create large-scale, process-driven automation to reduce friction and streamline workflows. Hyperautomation will grow in prominence this year because it gives firms a cost-effective solution to scale quickly.

Organizations will build more comprehensive digital twins and automate internal tasks to expedite delivery. Hyperautomation is also partly fueled by the adoption of low-code/no-code programming. By stripping repetitive programming tasks to bare necessities and automating the rest, businesses can address the skill gap and shortage of labor. It's important to remember that do-it-yourself methods and automation will only succeed when tied to KPIs and used to digitally transform how we do business.

AI Governance To The Forefront

Organizations love using AI and ML to gain insights and offer superior customer service. But the invasive presence of AI in every facet of business operations and personal lives has started to impact how people perceive it. Without governance, AI can quickly develop biases that risk racial, gender, and cultural insensitivity.

A 2021 McKinsey survey reports that only 20% of AI models have well-defined regulations. In 2022, businesses will invest in and train AI models to promote transparency and reduce biases. Since we didn't have standardized documentation on business AI and ethical implications before, this will mark the start of a sustained transition in the coming years.

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Watershed Year For The Metaverse

Ever since Mark Zuckerberg pivoted towards the metaverse, businesses have been keeping an eye on the rapid development in this space. The concept of extended reality was always in the cards, but it will go from the fringes to the center this year.

Metaverse and non-fungible tokens (NFTs) have been consumer-driven trends, but 2022 is the year when businesses will look to expand their presence into virtual worlds. Metaverse is a conglomerate of virtual worlds where people can trade digital assets, buy virtual real estate and generate revenue via NFTs. Today, companies enable avatar-based meetings in the metaverse and turn their assets into NFTs built on blockchain, a decentralized and transparent ledger.

Metaverse is still far from being mainstream, and education seems to be the crucial first step in bridging the gap in 2022. Businesses must use social commerce and pick specific targets to enter the metaverse.

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We are so excited for the new year and the opportunities ahead. For more information about Peak Innovation, the services we offer, and the value we will bring to your firm, call us at (844) 300-7325 or fill out the form on this website.

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