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Innovation in the software industry is at an all-time high, with emerging technologies such as AI, XR, edge computing and more. In fact, 89% of executives are increasing their IT budgets to invest in emerging tech.
Knowing the latest software development trends is a must for businesses who want to maintain a competitive edge. Here we’ll explore the biggest technologies shaping the software industry today, as well as benefits, challenges and best practices surrounding them. Plus, we’ll highlight how our nearshore tech talent at TECLA can support you in leveraging emerging technologies in software development.
Top Emerging Technologies in Software Development
Emerging technologies in software development are those at the cutting edge of innovation today. These next-gen technologies are “emerging” because they’re still in the early adoption phase, with companies learning how to integrate and improve them.
1. Artificial Intelligence & Machine Learning
AI has taken the business world by storm. In essence, AI and machine learning in software involves algorithms trained on vast amounts of data. These models then identify patterns and predictions without explicit human direction. AI is used today across business tasks, including chatbots, data analysis, process automation, content creation and more.
Even as an emerging technology, 62% of companies have increased their budgets for AI this year, more than any other technology. Early estimates suggest that AI could boost ROI by a whopping 3.7x.
2. Blockchain Technology
Blockchain has been a buzzword for years now, but it’s still in the early phase of adoption. It’s a decentralized, digital ledger that securely tracks assets.
It can’t easily be altered, which makes it the ideal technology to combat fraud and support data integrity for areas such as smart contracts, cryptocurrency, insurance and supply chain. It’s no wonder that 81% of the top 100 global companies are using blockchain in software development today.
3. Internet of Things (IoT)
The Internet of Things (IoT) is another technology that has gotten a lot of traction recently. IoT development uses sensors that connect in real time to systems via the internet.
This technology powers a range of smart devices that can enable efficient, real-time monitoring. Key examples of IoT software trends include wearables, smart thermostats, smart appliances, voice assistants, smart assembly lines, autonomous vehicles, smart irrigation and more.
4. Cloud-Native Applications
Benefits of cloud-native architecture:
- Sets up operational efficiency
- Boosts UX and performance
- Results in cost savings
- Enables wider availability
- Enhances data ecosystem
- Powers innovation
- Fits well with agile methods
Cloud computing is now an integral part of modern business architecture, with 78% of businesses adopting it in some way within their organizations. Cloud technologies such as AWS, Azure and more are behind the widespread transition to cloud environments.
Cloud-native technologies allow businesses to reap benefits such as operational efficiency, cost savings and wider availability. They’re also the core technology behind developing microservices, APIs and containers.
5. Extended Reality (XR)
Extended Reality (XR) is the latest in-demand tech for integrating immersive user experiences. Whether fully immersive via a headset, or through images overlaid with the real world, XR has huge potential to across diverse industries. In fact, 60% believe XR will be a mainstream technology within five years.
Best use cases of XR include games, GPS, virtual try-ons, virtual field trips/tours, VR training, Computer-Aided Design (CAD) and more.
6. Edge Computing
Edge computing is an early next-gen technology that enables devices in remote or complex environments to work without depending on a central network. It also speeds up response times and enables stronger data and insights.
This technology relies on edge devices (such as smart cameras, sensors, drones and other IoTs) connected to nearby gateway servers.
Overall, 54% of businesses find the idea of edge computing interesting. It’s especially useful for applications such as remote warehouses, agriculture, transportation, healthcare and beyond.
Benefits of Adopting Emerging Technologies in Software Development
Adopting latest software development trends like AI, blockchain and more can give your business key advantages such as the following.
Improved Efficiency & Productivity
Software innovation trends are often focused on making your business more efficient. Processes such as DevOps and technologies such as process automation, IoT devices and edge computing are directly related to upticks in productivity.
Enhanced Customer Experience
Your customer experience is a top priority with new tech. Whether through chatbots, wearables, virtual tours or other features, emerging technologies in software development can elevate UX and drive sales.
Robust Data Ecosystem
Next-gen technologies tend to be integrated with data, which allows business to make well-informed decisions. By adopting the latest software development trends – through cloud-based systems, IoT data exchanges and more – you can set up a richer data ecosystem.
Competitive Advantage in the Market
Most importantly, incorporating emerging tech into your business early can give you a huge head start. Companies that take advantage of integrating these technologies will boost their user experience and win over new customers.
Challenges in Adopting the Latest Software Development Trends
Staying on the cutting edge of software innovation trends comes with its risks. As you consider adopting these technologies, be sure your strategy addresses these challenges.
Skill Gaps & Training Needs
It’s not enough to adopt new technology – your staff also needs to get on board. Have an organization change plan in place to undergo a smooth transition and minimize staff resistance. For example, hiring IT consultants for regular training sessions can help during the initial adaptation period.
Integration With Legacy Systems
Setting up an interconnected digital ecosystem may not be 100% possible with certain legacy systems or technologies. To make the most of emerging technology, you may need to completely revamp your architecture to support it. This adds a layer of complexity (and cost!) to next-gen adoption.
High Initial Investment
Harnessing emerging technologies may be a cost risk. Often technologies such as AI involve a degree of uncertainty in terms of ROI. You’ll have to carefully analyze your customer needs, market dynamics and development costs to understand if the investment is worth it.
Potential Security & Regulatory Risks
Additionally, you’ll need to evaluate the potential security and regulatory risks of emerging technologies. Try not to rush into adoption until you understand how the technology may reveal security vulnerabilities or require support to stay compliant with data regulations.
For this reason, it’s especially important to have top-tier QA developers on your team in order to continually check for security and performance issues.
Best Practices for Leveraging Emerging Technologies
Leveraging emerging technology can feel like a big undertaking. As you get started, cover all your bases with these best practices recommended by our experts.
1. Conduct Thorough Feasibility Assessments
First, know the risks of adopting the emerging technologies that you’re interested in. Hire specialists to conduct feasibility and market assessments to clarify business value. Try to keep an open mind during this process, so that you follow the data instead of going on gut feeling alone.
2. Gradually Integrate & Scale Technologies
No need to fully develop a technology all at once. Begin with a small, realistic scope that lets you get to know the technology and better plan for long-term needs. Fortunately, next-gen technology is often very scalable, so you can gradually integrate phases with minimal disruption.
3. Continuous Training & Upskilling of Your Team
As part of your development roadmap, include training and upskilling for your team. Before the technology launches, your staff will have to learn how to efficiently use it. Earmark a portion of your budget for training sessions with IT professionals, so everybody is on the same page.
4. Leverage Agile Methodologies for Smoother Integration
Last but not least, the road to developing emerging technology may have unique obstacles. That’s why it’s crucial to utilize the agile methodology to constantly assess, iterate and improve your product during the life cycle. Establish results-driven agile processes, such as daily stand-ups, regular feedback sessions, a learning mindset and more to maximize project outcomes.
Future Outlook of Software Innovation Trends
The world of software is constantly evolving. While it’s hard to predict what advancements may be coming down the road, there are certain trends that will likely continue to gain momentum.
Software Process Trends
- AI code generation — Developers will likely leverage AI to handle repetitive coding and speed up development.
- A focus on DevSecOps — Continuous delivery processes such as DevSecOps are set to become more dominant as companies require ongoing security checks.
- Green coding — This software innovation trend considers the ecological footprint of building products, especially as related to reducing inefficiencies and storage demands.
Software Product Trends
- Low code/no code solutions — The low code option saves your business costs and enables highly scalable and efficient development.
- Multi-cloud adoption — Most companies have adopted the cloud in at least one way, but multi-cloud usage will become more commonplace as user and data needs grow.
- Quantum computing — This technology is still in very early phases. The idea is to solve extremely data-intensive problems using the concepts of quantum mechanics.
As you can imagine, it’s important to stay open-minded as you adopt emerging technologies in software development. Continually adapting and learning from new tech will allow your teams to pivot towards success.
Discover how TECLA can help your business integrate cutting-edge technologies effectively — now and into the future.
Keep Up With Software Innovation Trends Via TECLA
Revolutionize your business with our top picks for emerging technologies in software development. By understanding the benefits and challenges of adoption, you can develop groundbreaking technologies that fit your customer needs and elevate your business.
At TECLA, we know your challenges firsthand. 55% of companies are worried about finding skilled talent to carry out projects with AI and other emerging technologies. We bridge that gap with our elite network of 50,000+ developers from Latin America, who are ready to advise on the latest trends and support your adoption efforts.
Contact TECLA to integrate the latest tech trends into your software development strategy today.
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