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In today’s fast-changing and competitive environment, rising companies from all industries are growing at an impressive rate, and software engineering needs have skyrocketed. Looking back, when I cofounded my software outsourcing business, talent shortage was an issue, but development life cycles weren’t as demanding.

A recent study by Forrester Forecasts affirms that the global tech market will grow by 4.7% in 2019. According to Nasdaq, Latin America is ideal territory for rising innovative tech companies and stands out amongst other locations due to the favorable circumstances it offers to generate cutting-edge and efficient tech solutions.

Blockchain has been encroaching into all areas of life for more than five years now. Financial services are at the forefront of blockchain development, but logistics, utilities, security and government services are quickly gaining ground. An ever-increasing focus on efficiency and security make this the technology to watch. However, the interaction between the all-encompassing IoT and blockchain has been the subject of much debate, and this uncertainty is the reason many companies are reluctant to invest in blockchain technology.

The rise of the internet of things is clear. According to a study by Red Hat, 21% of organizations have already incorporated IoT projects into their business, 28% plan to do so in the next year and 70% over the next five years.

In a scenario where Latin America keeps growing as a provider of highly-skilled software engineers, BairesDev’s CEO Nacho De Marco published a book that analyzes the main problems faced by the industry: talent shortage, staffing efforts, and high production costs. After a year of thorough investigation, and backed by his personal experience founding and leading BairesDev, a software outsourcing company, the author presents “IT Outsourcing to Latin America: An Analysis of the Market and Opportunities in the Region”. It is a comprehensive study of the outsourcing market in Latin America, weighing its development, its composition and its competitive advantages in comparison to other regions.

In the last year, the eCommerce industry has expanded by over 25 percent, and this boom is projected to continue. With such a wealth of eCommerce businesses, and competition set to become even more fierce, staying visible and relevant has never been such a challenge for online retailers.

Artificial intelligence (AI) and machine learning (ML) have a rapidly growing presence in today’s world, with applications ranging from heavy industry to education. From streamlining operations to informing better decision making, it has become clear that this technology has the potential to truly revolutionize how the everyday world works.

When someone mentions virtual reality, the gaming industry is usually what comes to mind. However, in 2018, virtual reality started to appeal to industries beyond gaming and entertainment – for example, those in manufacturing, healthcare, and education. Many organizations started to pay attention to the compelling applications that virtual reality has to offer and began to implement virtual reality solutions to help them work more productively and efficiently.

While the financial industry has been successfully making use of blockchain applications for several years now, blockchain technology has the potential to transform a number of other industries as well, including retail. Recent blockchain-driven experiments by large retailers such as Walmart, Amazon, and Alibaba are proof of the many possibilities for the technology to solve age-old challenges in the retail industry. For instance, blockchain technology can help retailers improve how they store information about their suppliers, help seamlessly execute payments and contracts, and even reinforce product authenticity to prevent counterfeiting of goods.

The new product development cycle can be quite complex, especially when it comes to technology. There’s a lot of planning, testing and tinkering that must happen before a tech product is ready to hit the market, and sometimes it requires going back to the drawing board.

In 2018, the world witnessed the continued development of technologies like artificial intelligence and virtual reality. As these tools become more accessible and widely used among both businesses and consumers, many tech industry experts are speculating about what the next “big thing” will be.

A Juniper Research report recently affirmed that 57 per cent of large corporations are either actively considering, or are in the process of, deploying blockchain technology. In fact, 90 per cent of major North American and European banks are exploring blockchain solutions. The problem is 94 per cent of Fortune 500 executives with plans to implement blockchain technology also reported that they’re going to have problems locating the talent needed to make their plans a reality.