Five technological aspects that have changed the IT market in the last five years

The search for efficiency, agility and practicality has led several sectors to leverage their services, such as banks, industries and retail.

IT market changes

It is no longer news that we are experiencing a new digital age thanks to IT market changes. Every day, we are surprised by new products, services and features that hit the market quickly. Being in tune with this new environment is more than necessary and has become essential to the sustainability of a company.

In the last five years, Brazil and Latin America have followed the consolidation and the rise of new technologies. The search for efficiency, agility and practicality has led several sectors to leverage their services, such as banks, industries, retail and, without being left out, the healthcare area. In this article, we will discuss five aspects that have moved the technology market in the last five years.

Open Banking for APIs

When we talk about transformations, we cannot leave out the sector with one of the most concrete changes in this context: banks. A hot topic in financial institutions, Open Banking has gained increasing strength in this ecosystem.

READ MORE: Learn why an API strategy is so important to Open Banking.

The new concept aims to enable banks to share customer information and technologies with third parties. This reality provides an integrated, secure experience that matches what the user wants to consume at that time. Through APIs, the financial industry has gained a multitude of new services that can be offered completely and affordably.

The consolidation of Mobile Banking

The search for agility and mobility has made the consumer make Mobile Banking one of their favorite channels for banking. Financial movements via smartphones grew by 70% last year, according to data from the Brazilian Federation of Banks (Febraban). This new user profile has led banks to invest more in technologies to ensure a good experience on this platform.

If we look at the scenario a few years ago, we will notice a significant change in the behavior of this user. A 2014 survey by Opinion Box, in partnership with the Mobile Time portal, revealed that many people did not use the bank’s online platform for security reasons. At the time, about 57% did not access mobile banking and 47.3% indicated that they did not find the environment safe.

Today, according to Febraban, 35% of banking transactions in Brazil are carried out on mobile phones, making mobile banking surpass internet banking. With this change in behavior, banks also had to adapt to a new customer journey to integrate all channels. Today, we already have solutions in the market that allow the customer to start an operation via a mobile device and finish the process in an ATM, for example.

Industry 4.0

We can already embrace the arrival of the fourth industrial revolution and, with it, the concept of industry 4.0. In this new context, the integration between robots and automation sensors became protagonists in the digital transformation. In full growth, this new industry working model demands real-time analysis and monitoring to reduce costs and ensure high productivity. But to continue on the path of evolution, the industry also needs to create paths for digital channels that enable collaborative integrations with business partners, as well as blending the potential of information technologies with those of integration.

Another important issue for Industry 4.0 is the use of the internet of things (IoT). The journey and benefits that this solution ensures that industries get higher production and competitiveness of a company. On a store, for example, IoT enables the connection of data and systems, forming an environment where you can have a complete and detailed view of the processes.

Technology for the benefit of the retail shopping experience

Winning the end consumer through experience has been a top priority for large, medium and micro retailers. In this context, there is no way to avoid technological investment in the operation and points of sale. The Retail Vision Study, released in 2017 by Zebra Technologies, shows that 72% of retailers around the globe are committed to bringing innovation to their business and 65% plan to invest in automation and supply chain inventories by 2021.

Retail has always faced the challenge of tracking and understanding the profile of its audience to enhance and ensure a robust management system. In recent years, new technological resources have become an important tool for the growth of this segment, whether in the process of identifying customer buying habits or in inventory control, for example.

This digital transformation is strongly linked to technologies that ensure operational intelligence. Investing in the modernization of data centers, distribution centers, and connected stores has become increasingly strategic for companies to be able to break new ground and track progress on operations from the beginning to the end of the process, and thereafter being able to make business decisions.

Digital medicine

Digital medicine has been steadily advancing, and we are not just talking about creating health applications and new electronic devices, but management and robotics. A surgical procedure, for example, can now be performed through automation.

Technology also brings several transformations in the relationship between doctors and patients. Through the integration of the health ecosystem—from public agencies, health plans, doctors, hospitals and laboratories to distributors and retailers—a patient can have more agile care and more easily released exam results, for example.  And we know that health agility can save lives. In the digital medicine landscape, information gathered through connected and digital processes enables a more assertive and beneficial business for every chair.

For the next five years, we will continue to strive for a major transformation in a hyper-connected world. We expect new technology trends to continue to emerge every day and organizations to keep moving to ensure smart processes and connected experiences.