What are IT trends? IT trends are innovations in information technology that are rapidly gaining ground and are increasingly being used by many segments. At the last Industrial Revolution, Silicon Valley has gifted the world with Computers. They were huge in size and could take a room and store only a few kilobytes. Over the years, with advances in electronics and miniaturisation, computer components are now smaller and today we have powerful devices so small, they can fit in our hands – the smartphone.
With constant improvements on hardware and software updates, coupled with a network of open source contributors, the market is flooded with devices that is making it easy for anyone to play with to give life to an idea. The likes of Raspberry Pi and Arduino have made it easy for kids to conceive an idea and build it using these little devices. Nonetheless, as technology continues to progress at a breakneck pace, even the most desired innovations is becoming obsolete at one point and has to be replaced.
We can expect the pace of innovation in the IT landscape to intensify as we move along in 2020, disrupting businesses across the globe including Mauritius. Read on to know about some of the IT trends that could impact businesses in Mauritius.
Following the Mauritius Vision 2030, which calls for modern and prosperous Mauritius and encourages the main value of digital transformation for growth and profitability, the Digital Mauritius 2030 Strategic Plan focuses on the creation of a creative, efficient and productive public sector while at the same time creating an enabling atmosphere for market facilitation.
The Fourth Industrial Revolution (4IR) is the avenue for Mauritius to become a technology-driven society. From 4IR, panoply of technologies has emerged including: Cloud Computing, Blockchain, Artificial Intelligence (AI), Internet of Things (IoT) amongst others. Other technologies like FinTech and Big Data Management are now gradually transforming conventional Mauritian business practices into innovative ones.
In order to help you keep up with the IT trends, we’ve listed some of them as follows:
Cloud computing uses a network of remote servers hosted on the Internet to store, manage, and process data, rather than a local server or a personal computer.
As more and more businesses turn towards remote infrastructure, a cloud-powered future is beginning to form. Managing growth in the cloud seems to be one of the top priorities for 2020 for the businesses. It enables both users and businesses to run software without installing it, providing redundancy, stability, and security. Cloud computing eliminates the need to purchase and maintain hardware. In Mauritius, many IT companies provides cloud computing. We also observe that businesses are embracing this technology as it eliminates the need to have a physical server. This is especially true for large businesses that have several sites across different geographical location.
Furthermore, with the COVID-19 outbreak, the white-collar workforce is now working remotely. In such instance cloud technology has been many businesses’ saviour. In this challenging time, cloud computing services are enabling employees and students to interact virtually. This gives them access to the tools that allow continuation of collaborative work and online classes.
The Mauritian government lays importance on Data Protection, therefore the prospect of using blockchain technology would be valuable in protecting data. A blockchain is a growing list of records, called blocks, which are linked through encryption. Each block contains a cryptographic algorithm of the previous block, timestamp, and transaction data. By default, the blockchain is resistant to data manipulation.
As an initial step, the state has implemented a Sandbox Licence recognising Crypto currency as a digital asset. It is believed that sandboxes are a way for fintech startups and businesses to conduct testing in a controlled environment. They may operate within a sandbox for a set time period without having to go through the usual authorisation processes as set out. Although Cryptocurrencies are not yet regulated in the country, the Financial Services Commission (FSC) consider a Cryptocurrency as a digital store of value.
In the education sector, Universities are also looking at adopting blockchain diploma certification to limit fake credentials. Institutions like MIT (Boston), Holberton School (San Francisco), Imperial College (London) and ESCP (Europe), have already adopted the digital diploma for their graduates.
Financial technology, short for FinTech, is another buzzword in the Mauritian business arena. FinTech alludes to an innovation that aims to compete with traditional financial methods in the delivery of financial services. It is an emerging industry that uses technology to improve activities in finance. In addition, the recent budget focuses on the promotion of FinTech services. This helps to establish Mauritius’ position as a leading FinTech hub in the African region. Two popular examples of FinTech services are Juice by MCB and MyT Money. These allow consumer to pay using their smartphones.
Artificial Intelligence (AI), an increasingly hyped concept, is in fact still a growing trend in Mauritius. AI refers to the simulation of human intelligence in machines programmed to behave like humans. It also emulates their actions such as learning and problem-solving. Additionally, it has since been the basis for hundreds of technological advancements such as face recognition, data processing, voice recognition, and so on. In addition, technology can also be used on the market front, such as AI-powered customer service.
Supportive of the Artificial Intelligence technology, the Ministry of Technology, Communication and Innovation had organised The World AI Show and the Blockchain Summit on 28th November 2018. Indeed, AI could enable possibilities in the Mauritian healthcare sector, where surgeries could be assisted by AI. Besides, with the vision of building Smart Cities, AI could boost urbanisation while designing efficient transportation (traffic control) and reducing pollution.
Last but not least, with all the steps the Government is taking, it is evident that Mauritius is looking forward to the development and implementation of those technologies. This initiative will redefine many sectors on the island. Nevertheless, investment in technology never seem to diminish; as new technologies emerge, old ones become the basis for newer trends.