Introduction
As part of the business or other enterprises, information technology (IT) is a rapidly progressing industry in the modern technology-based society. It implies the use of “computers and other devices for exchanging, retrieving, storing, and networking of electronic data” (Morkes, 2018, p. 23).
IT engages with various companies, ranging from start-ups to large international corporations, by providing them with the most efficient information technology systems. The critical elements of the IT industry include broad sectors such as hardware, software, services, infrastructure, and information, as well as business objectives. As an IT professional, one must attain strong analytical and problem-solving skills, flexibility, and stay current on the latest technology and trends due to ongoing changes and new implications of the constantly evolving industry.
The IT market in the United States is considered the largest and the most advanced in the international arena, earning $1.5 trillion in revenue in 2017 (Morkes 2018). Therefore, the steady growth of IT is inherently linked with the high performance from the major markets such as financial services and insurance providers. According to Vault, the demand for information technology consultants will increase up until 2021 due to the rise of mergers and acquisitions in other industries. Hence, it is essential to examine the crucial trends of the information technology industry for a proper awareness of the current situation and better performance results for the permanent development of one’s career path.
Blockchain
Blockchain is the emerging technology that can exclude large amounts of record-keeping, save money, and intrude the IT industry in a completely new way since Internet emergence. It is the distributed ledger database that manages an ever-increasing list of records that cannot be changed. Its mechanism implies each entry to be time fixed and connected to the previous entry. This technology can be either an open system that allows anyone to add the information or a controlled one for the users with permission. This is a dynamic trend in IT due to the raised interest in cryptocurrency, a digital cash system that is commonly used as a replacement or a complement to traditional currency.
Bitcoin is the most popular cryptocurrency in today’s business world. Hence, blockchain technology contributes to cryptocurrency transactions. Moreover, this technology can also be applied to other fields, such as the international shipping industry, finance, and even the jewelry industry. Loosvelt (2019) states that the ability to manage an initial coin offering, create new cryptocurrencies, and write proposal plans for technologies employing blockchain, are crucial skills for such industry (par. 3). It was reported that blockchain was the second amongst the top 20 fastest-growing job skills providing high-rate salaries for its specialists. Such a tendency was caused by the growing interest in blockchain technology; however, it is still in the early stages of development with specific obstacles.
Artificial Intelligence in Hiring Practice and Machine Learning
Artificial intelligence (AI) and machine learning are two separate notions; however, they are often used as interchangeable. As described by Maldonado (2019), “advances in artificial intelligence are driving the future of businesses” (par. 1).
Considering AI an older and broader concept, it implies the programmed machines that are able to perform tasks in a smart way by imitating human decision-making processes. This technology facilitates multiple possibilities and implications for every aspect of the company. AI is widely used to assist in the recruiting efforts, as it contributes to developing the problem-solving skills for computers, such as software applying machine learning to review the resumes and filter the applicants. Hence, AI might be a time-saving approach for the recruiters and HR tasks.
In the interview by Maldonado (2019) of the founder and CEO of Performia CIS, Vladimir Sidorenko, it was mentioned that the great number of AI applications are based upon the category of algorithms. Besides, gender and racial bias were noted in AI that is critical in the gap between men, women, and minorities in tech. Sidorenko classified four primary tips for HR teams aiming at overcoming the diversity gap, including “cultivating trust in AI, building a culture around skill-building, implementing diversity training initiatives, and reaching out to community organizations” (Maldonado, 2019, par. 5).
Furthermore, he is discussing the ways of improvement for the current AI landscape. Machine learning, on the other hand, is a method of data analysis that involves AI to promote studying data by computers, identify patterns, and take actions with minimal or no interference by humans. For example, machine learning applications can determine the text’s meaning or the music’s sentiments. Thus, the AI and machine learning advancements led to the enhanced demands for IT professionals with this expertise as well by providing top emerging job positions.
Conclusion
To conclude, the emergence of new products and trends, as well as new career opportunities, are arising from the technological achievements, modifying preferences of the consumer and business, and other progressing facets of the IT industry. The emerging technologies such as blockchain, artificial intelligence, and machine learning, are amongst the current trends of IT that are influencing the future of the technology-based business scene. These trends are based upon the critical constant of technology and tech careers, which is the change that results in multiple technological advancements, transforming or disrupting the modern IT landscape.
References
Loosvelt, D. (2019). What is Bitcoin and how do I get a Bitcoin job?
Maldonado, S. (2019). Is artificial intelligence widening the diversity gap in hiring practices?
Morkes, A. (2018). Vault Career Guide to Information Technology (2nd ed.). New York, NY: Vault, an imprint of Infobase.
Information technology (2019).