Although it may not be flying cars or frequent visits to Mars, this last year has certainly been an exciting one for the tech industry.
We saw advancements in using big data analytics to observe customer behavior, cloud-based technology to streamline business processes, cybersecurity measures to protect the countless number of people working remotely, and many, many more.
So, as we gear up for 2021, leaders all over are excited to see what’s coming next, whether it’s accelerated adoption of hospitality tech, AI solutions in the e-commerce space or the rapid introduction of new hardware.
To get a quick pulse of the tech trends they’re hoping to see front and center in the new year, Built In LA asked leaders at three local companies to share their thoughts and explain how it’ll impact their respective industries.
Adoption of Hospitality Tech
“No one would have said ‘contactless’ last year, and now it feels a bit cliché to say that, but it’s true — external forces have made it the number one tech trend for many industries, including restaurants, retail and travel,” Lynch said. “Tons of companies have spent 2020 investigating solutions and making large tech purchases in hopes of having contactless service available next year for their customers. In 2021, we’ll get a much clearer picture of which contactless solutions are worth the cost — and which vendors can successfully deploy their technology on a global scale.
“There’s also been a resurgence when it comes to tech that has struggled to break through and become mainstream, namely wearables and voice technology. In hospitality in particular, there’s been renewed interest behind the scenes during COVID-19 that could push innovation and relevancy forward for both.
“Historically, hotels have been much slower than other businesses to transform the customer experience with tech. The pandemic changed everything, and with the surge in adoption of contactless tech, there’s no going back for the hospitality industry. Now, it’s just about which tech providers will be able to survive the pandemic, deliver on their promises and position themselves for the future.
“Adoption of all types of hospitality tech will just continue to accelerate in 2021 and beyond. What properties and brands are going to realize is that having a stable, innovative technology partner is crucial to their success. Experienced vendors that provide more than one type of solution and that are constantly adding to their offering will thrive because no one wants to hire 15 different vendors when they can work with one instead.”
Matthew Lynch is the VP of product at INTELITY, a software company that connects the service industry workforce directly to their customers.
Effective AI Solutions
“I’m watching how machine learning and artificial intelligence continue to get incorporated into daily business,” Roizen said. “So much of modern life depends on our data systems working together effectively, and machine learning is helping us bridge gaps in those integrations. Automation used to be all about increasing productivity, but now there’s a capacity for decision-making that we’ve only recently tapped into. Many of our manual processes are being phased out for AI that is not just faster, but also smarter.
“AI and machine learning will reduce the barriers to entry for buyers and sellers in the e-commerce landscape. For example, Google is using machine learning to identify creative assets from company websites and automatically generating marketing videos with them. As another example, when it comes to product data management, effective AI solutions are helping retailers and shopping sites categorize their products more accurately and efficiently. Not only does this speed up the process of getting thousands of products listed online, but it also improves the overall online shopping experience by helping people find the products they want without putting in the extra effort. Online shopping will only continue to grow in 2021 and beyond.”
Brian Roizen is the co-founder and chief architect of Feedonomics, an e-commerce software company.
Innovative Hardware Products
“Everyone has been impacted in 2020 with COVID-19 restrictions,” Marr said. “So software and streaming companies and mobile services that deliver products remotely have been more in the news in 2020. I anticipate 2021 will bring an amazing burst of innovative hardware products coming to market that were incubated during this quieter year. I think it will be a big year for hardware disruption that couldn’t find its way to market sooner.
“The rapid introduction of new hardware will accelerate growth across the industry, not only for us but for our competitors. This will drive customer demand to a greater availability of choice. We look forward to this unique opportunity to bring to market the many innovations we have been working on.
“Digital transformation is here, and a lot of what we are doing used to take place via analog systems. Now with digital systems, we are unlocking vast amounts of data to flow back to us and our customers — making us all smarter and with the ability to respond faster. This virtuous cycle will continue to accelerate year after year.”
Bo Marr is the CTO at Epirus, a hardware company specializing in agile development of defense systems.
