Research shows that 65% of CIOs and Information Technology leaders have skill shortages within their teams. Our experience with small and midsize businesses (SMBs) is that the skills shortage percentage is even higher!
To compound the issue, skills in emerging technologies are scarce and the demand for these resources is accelerating. Let’s take a look at a few of the hottest emerging technologies of 2018.
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Download the 2018 Guide to Global Software Outsourcing Rates.
Hot Software Trends of 2018
A recent Entrepreneur article on emerging technologies declared that Blockchain technology adoption will grow at a compounded annual growth rate of 61.5% through 2021. While the largest change impact and benefit will be in the financial sector, we can see that other industries can also leverage Blockchain for financial activity such as invoicing and collections.
IoT (Internet of Things)
Moore’s law teaches us that the computing power of microprocessors is increasing every day. In parallel, the presence of IoT is expected to grow exponentially. At the same time internet bandwidth is increasing, and costs are decreasing. These advancements will help IoT expand and become more accessible to large and small businesses alike.
AI (Artificial Intelligence)
Artificial Intelligence is not new – with origins back in the work of “neural networks” in the 1950’s. As computational power has grown, and the ability to store large amounts of data has increased, so has AI technology evolved.
AI is no longer the exclusive domain of large organizations. Solutions such as Amazon's AWS, and Google's TensorFlow library and Amazon AWS have AI applications accessible within their cloud services. SMB’s can now leverage AI – if they have access to the technical talent to do so!
It’s Hard to be Competitive
Being competitive in the marketplace with emerging technologies such as Blockchain, AI, IoT, etc. is difficult. There’s a shortage of skills and the increased adoption of these technologies means that demand for available talent in your area will be at a premium. In short – emerging technologies talent will be hard (or impossible) for you to recruit for… and wage costs will be expensive.
If you’re like most companies, you already have a significant portfolio of existing systems using traditional technologies. These systems still must be maintained, and probably enhanced. Retraining your existing team on new technologies means you compromise your ability to staff projects to support your existing systems.
Global Software Teams Are the Solution
In contrast to your company’s situation, we know that companies who provide software development outsourcing can continually invest in new talent and train their existing staff for emerging technologies. These software development factories exist for the very purpose of bringing these skills to the marketplace for your company to utilize.
We Know Outsourcing
Accelerance knows the top outsourcing companies in the world with resources for your emerging technology needs. We have established global relationships to
help you match your needs to the right outsourcing partner.
- Offshore partners in Europe and Asia with proven capabilities
- Nearshore partners in Latin and South America. These companies also have solid expertise in emerging technologies with the added benefit of adjacent time zones to your company.
Want to Know More?
Contact us so we can learn more about your specific need.
Also, you can Download the 2018 Software Outsourcing Rates eBook below.