New prediction says Blockchain will power web3
|Richard Harris in Blockchain Tuesday, January 12, 2021|
Manjusha Madabushi, CTO, and CEO Nitin Shimpi from Talentica Software predict that in 2021 microservices adoption will decrease, low code platforms will consume 30% of IT budgets, there will be an increase in Lean AI approaches, blockchain will power web3, and ML algorithms and MPC techniques will move to mainstream business applications.
In the coming year, companies will modify their approaches to developing technology and products. The hype of Artificial Intelligence, Microservices, and Low Code – No Code platforms have played out and companies will make adjustments to decrease complexity and increase efficiencies.
Microservices Adoption to Recede in 2021
Microservices will see a decline in adoption where managing triple constraints of time, cost, and quality is a prerequisite. As an architectural pattern, it is overhyped. It introduces unnecessary complexities and should be adopted for large technology teams only if agility to business trumps over the iron triangle.
Low Code – No Code Platforms will Consume 30% of IT Budgets
Enterprises and entrepreneurs will turn to Low Code / No-Code platforms for small and medium complex implementations without investing in a development team. This approach gives companies the freedom to try new things, automate what is being done and circulated through excel, and stitch workflows - all without any coding knowledge. While the applications built by these tools might not have the most impressive user experience, they will have a substantial impact on the IT spend and could consume 30-40 percent of IT budgets over the next couple of years.
Startups Will Adopt a 'Lean AI' Approach
In 2021 and beyond, we will see more startups following a 'Lean AI' approach by starting with traditional statistical methods for problem-solving and then move on to machine learning and deep neural networks as they collect more data.
Blockchain will Power Web3
Blockchain technology will start to play a major role in the decentralization of the web in 2021 and beyond. We will see Blockchain powering Web 3.0 and the Semantic Web by ensuring a highly connected secure web that is decentralized.
Extracting Insights without Challenging Privacy Regulations to Go Mainstream
Multi-party computation (MPC) techniques and ML Algorithms over encrypted data will move from academic research to mainstream business applications in 2021. With increasing privacy regulations, these techniques will find more takers for their ability to deliver useful insights while maintaining acceptable data privacy.
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