As the pandemic has exposed, embracing advanced technologies is not a choice anymore. The future is now and in order to be current, you need to be tech-savvy.
Business leaders know they must prepare for more disruptions in technology in the years ahead. It can be an overwhelming task to stay up-to-date with new technologies, their intricacies and predicting updates. We make it easy for you to keep track of what matters. Here are some technologies that can change the course of the industry and you need to be prepared for:
- Artificial Intelligence
Simulating human intelligence in machines used to be confined to science fiction. But in recent decades, AI is helping solve critical problems in transportation, retail, and health care. AI has come a long way. We have voice assistants such as Siri, Alexa and Google Assistant now. Soon it will be incorporated into robot servants. AI can impact chatbots, logistics, self-driving cars, virtual nursing assistants, learning systems, and even creativity in the near future.
The encryption technique behind cryptocurrencies like bitcoin, blockchains work as a secure digital ledger. Many startups are bringing it to voting, lotteries, ID cards and identity verification, graphics rendering, welfare payments, job hunting and insurance payments.
Blockchain has decentralized records. Unlike traditional records, which were stored in one location, blockchain exists on nodes spread across the system. It makes it almost impossible to tamper with or lose the data.
The full potential of blockchain hasn’t been explored yet. It could be used for patient records at hospitals, to secure voting in elections and also to track logistics across supply chains. We haven’t even touched upon its benefits in the banking and cybersecurity systems.
5g networks which allow more devices to connect and provide a more relaible signal, are 100 times faster than the once-fast 4g network.
The Internet of things(IoT) will be built on the backbone of the 5g network. The IoT basically expands the power of the internet beyond screens to objects of daily use in our surroundings.
Smart cities driven by an IoT system will become an ecosystem of interconnected devices and will change the way we work with data. In these smart cities, everything will be linked from phones and cars to apartments and buildings. The sensors everywhere will people’s living experiences, reduce waste, prevent traffic, and provide sustainable solutions for all. The data collected in real time will be sped up by the 5g network.
- Augmented reality and Virtual Reality
Just a few years ago, no one had any idea that augmented reality would infact, become a reality. But, here we are!
With the decrease in hardware costs, and simultaneous increase in processing power, the bigtech companies have already invested in AR. Thwy will soon bring it to the mainstream through the metaverse.
The retail experience will be revolutionized by this technology. With more widespread acceptance of augmented reality apps in smartphones, it will become easier to sell more of these advanced technologies.
- 3D printing
Many refer to 3D printing as the fourth industrial revolution. 3D printing got an early foothold as a method to design prototypes of just about anything. Manufacturers can now build plastic components that are lighter than metal, ans also with unusual shapes that can’t be made by the regular molding methods.
3D printing is changing the way we build homes, design cars, and products in a big way. The potential of its application could go even further. Medical institutions have 3D printed functioning organs that could be used in transplants. We can even 3D print foods and vitamins, especially formulated for different biological needs and health requirements. Additive manufacturing will even play a role in the creation of rockets that will get us to space and the colonies envisioned on Mars. As 3D printing costs continue to plummet, you can expect to see it everywhere.
- Quantum Computing
Although the computers that we use todaay are quite powerful, there are considerable limitations to them. This is moreso when it comes to challenging machine-learning problems. Quantum computers rely on quantum bits that carry information and can exist in a state which allows quantum computers to process challenging datasets better. Thus, it can help to solve otherwise impossible to solve problems and produce serious machine-learning breakthroughs.
Research in quatum computing is being funded by companies and nations alike. They’re hoping that this investment will open up possibilities in biochemistry, logistics, transport, materials design, finance, artificial intelligence and more. Through speedy simulations, quantum computing can make big data more manageable by cutting costly development time.
Navigating these changes will challenge business leaders for sure. These future technologies that will change the world are in some way interconnected and they show us that it is important that organizational leaders don’t have a one-track mind. To focus on just one emerging technology or one business model of the future is to risk the longetivity of your company. The question is not which advanced technologies will dominate, but what is the potential of each technology and how these may work together to benefit you.
The key is to keep an open mind and capitalize on emerging new technologies with the help of the right team. Afterall, it is the human factor that makes the biggest difference.
Which other technology do you think is going to be a big disruptor in the coming years?