Five App Development Trends for Young Entrepreneurs A recent research revealed that most Indians use up to 24 apps on their phones daily. Hence, it is important that young entrepreneurs, irrespective of the industry they work in, create a favorable experience for their customers.
By Tao Li •
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Smartphones are an integral part of our lives and mobile apps are a crucial part of customer engagement and experience. In 2019, many different app technologies have surfaced. The year 2020 will mark the growth and development of these technologies. A recent report by market research firm techARC revealed that most Indians use up to 24 apps on their phones daily. Hence, it is important that young entrepreneurs, irrespective of the industry they work in, create a favorable experience for their customers.
Artificial Intelligence and Machine Learning
A rising trend is the development of deep artificial intelligence and machine learning stacks to create a seamless customer experience. Today, customers expect companies to keep track of their preferences. Apps that have the analytical ability to collect data about user behavior to create personalized communication will be essential for entrepreneurs. The technology will also pave the way for a more sophisticated application of chatbots to deliver an intelligent and swift query resolution for customers. The two – personalization and chatbots – together, will help retain customers.
Internet of Things
IoT technology is the best form of smart technology available right now. I anticipate a series of apps to be solely based on IoT. With the emergence of smart homes, IoT is also becoming extremely popular in B2C industries. The future of the technology is substantiated by a Gartner study, which predicts that IoT will connect more than 20 billion devices by 2020, with an industry value of over $300 billion.
Blockchain Technology
As digital currency gains momentum, blockchain technology has made an impact on the mobile app industry. Entrepreneurs can create products and services that can use this technology for virtual wallets. Tracking transactions, transparency and security will be the need of the hour, and blockchain technology will be an important tool. As the technology develops and integrates with the ecosystem, it will pave the way for money wallets, improving the peer-to-peer lending landscape.
On-Demand Apps
On-demand apps have become engrained in the service industry, especially within the grocery, food and entertainment industry due to their unmatched convenience to customers. The year 2020 will see on-demand apps being integrated with travel, fitness, healthcare and similar industries allowing entrepreneurs to woo their customers. Entrepreneurs, however, must be able to respond to these needs promptly; else the on-demand apps can fail.
Augmented Reality and Virtual Reality (AR and VR)
AR and VR were nothing short of game-changers when they were introduced. Both technologies are here to stay for a few years. AR and VR also allow for a lot of imagination and creativity at the developer's end and open new doors for the industry. They can also be used for experiential customer services and by non-profits to strengthen support from patrons.
Imagine a healthcare app, offering personalized communication, with a nursing chatbot, giving on-demand medicines. The app can go on to become a one-stop healthcare shop for the customers, making it a huge success for the entrepreneur. A retail app can provide a personalized experience for the customer through its on-demand delivery and machine learning stacks. The possibilities are endless. The only word of caution is that the expectations of the customers are on the rise, and they do not expect anything short of 100 per cent satisfaction.
