There is a famous saying by Marc Andreessen, “Software is eating the world.” If software is eating the world, then its appetite is constantly evolving. Just like fashion, software development experiences its own transformation journey every year. So how is the vision 2020 for software products and platform companies evolving?
Independent Software Vendors a.k.a Software Product and platform organizations are the early adaptors of technology changes in the industry. They leverage those AI, chatbots and data intelligence by helping companies better connect with their users at a more personal level and improve the customer experience. These smart solutions, which will become standard tools everywhere, will bridge the gap between humans and computers, more closely mimicking the role of humans, and in some cases replacing them.
Artificial intelligence (AI) has long captured our attention. Do you know? Since 2011, 140 AI start-ups have been acquired by the likes of companies like Google, Facebook, Salesforce, and Apple. Of those 140, forty of them were acquired in 2016.
With technology validation coming in the form of million-dollar acquisitions, we are going to see more product firms invest their efforts into artificial intelligence projects. Apps related to Artificial intelligence is going to be layered on top of even the most mundane of business apps to make it more useful and efficient. Independent Software Vendors will work diligently to figure out how they can improve their existing apps and products with artificial intelligence.
The bots are taking over! Chatbots that is. Everywhere you look, it seems like companies are launching its new chatbot-powered apps. Back in September, American Express threw its hat in the ring and created a chatbot for its card members. Not to be outdone, 1-800-Flowers made it easier to order from their site with its chatbot this year.
Thanks to Facebook’s Messenger Platform, the technology barrier to create a chatbot has dropped dramatically. Products and platform organizations don’t need to create the technology from scratch, but rather just plug into an existing API. They can imagine all the possibilities of how a chatbot can make their life easier.
The power of data has become an important factor for any ISVs regardless of their size and market value. Advanced predictive analytics tools are enabling companies to not only measure the past, but also, as they learn from previous interactions, they can effectively create a road map for future decisions. Since these solutions are only as good as the data they accumulate, the role of data analysts and data scientists will become as critical as an HR manager, marketing head or CIO in the coming years.
PaaS becomes the next big cloud thing
The concerns about security and loss of control in the cloud will be a thing of the past. For a remote and highly efficient workforce, the cloud has become an attractive delivery model. Platform as a Service solutions will become the key accelerators of a new level of cloud growth since they provide a platform for customers to run and manage their applications in the cloud without the complexity of building the associated infrastructure or algorithms.
A consumer-led, digital-focused market has made customer experience a prerequisite for business users in 2017 and beyond. Because of this, the products and platform organizations will focus on new solutions that improve the business user experience, including intelligent apps which make it easier to perform every-day tasks in the office. Technologies, such as virtual personal assistants, security solutions and marketing solutions, will deliver this new level of business user functionality by incorporating cognitive learning and robotic process automation. Most of the world’s innovative Independent Software Vendors will use intelligent solutions to improve the experience of the business user in the coming year.
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