Technology, like money, is a driver for company growth. Businesses are continually reinventing and upgrading their processes to embrace the latest innovations. If you want to stay competitive, you must be aware of what is coming next. So that you can prepare for the future. In this post, we’ll look at some of the important themes that we believe will have a significant influence on technology over the next decade with a technology review Blog.
Augmented Analytics with Big Data
Big Data refers to extremely huge and complicated data sets. .Those are so large and complex that typical data-processing technologies cannot handle them. Having said that, these vast amounts of data are beneficial since they can be utilized to address business challenges. That we would not have been able to address previously. We employ Augmented Analytics to get into this wealth of data. Augmented Analytics uses NLP (Natural Language Processing) and machine learning (ML) to automate and optimize analytic processes across the data lifecycle. From data collection, filtering, and sorting through analysis and interpretation.
This technology trend is frequently seen in businesses that benefit from swiftly and efficiently processing massive volumes of data. Such as the stock market and airline firms, as well as smart cities, healthcare, and agriculture!
Blockchain and Distributed Ledger Technology
Blockchain is a system for recording, authenticating, and protecting information on a network of computer systems. It does that in such a way that it makes hacking them nearly impossible. Each block comprises several transactions, which are recorded in the ledgers of all participants. A Distributed Ledger is a decentralized database that is controlled by several people.
Blockchain technology is used to store data in banking and finance, cryptocurrency, healthcare, supply chain, and logistics, digital property records, smart contracts, and many more fields. Blockchain technology has a plethora of advantages. And we are just now beginning to see its full potential outside of bitcoin. All crypto wallets are built-in blockchains that could be used to trade crypto using a bitcoin wallet. For that, you’d need to download a Bitcoin Wallet.
Edge Computing and Cloud Computing
Cloud computing is the transmission of computing services via the internet on a public cloud, whereas Edge Computing is the processing of real-time data in remote areas. The cloud allows people to access data stored on other computers that are linked to the central cloud server. Whereas edge computing processes time-sensitive data on phones and other smart devices.
These technological developments may be found in autonomous cars, smart grids, traffic management, cloud gaming, and a variety of other applications. Businesses, in particular, may use a mix of these technologies to alter and improve the efficiency of their operations.
Cobots and robots
While robots are meant to replace people in risky or repetitive occupations, cobots, or collaborative robots, are created to work alongside humans. Cobots are low-maintenance and cost-effective, and they can also ‘learn’ on the job.
Thousands of industrial enterprises throughout the world use cobots to do monotonous jobs. And we can expect to see businesses of all sizes use them to better automate their operations over the coming decade.
Natural Language Processing (NLP)
NLP is a subfield of AI that deals with the interaction of humans and computers via the use of natural language.
NLP Technology is used by language translation tools such as Google Translate, word processors such as Grammarly, and virtual assistants such as Siri, Alexa, and Cortana. Further study on this topic will help robots get better at detecting and responding to human languages in the future years.
Voice User Interfaces and Chatbots
A chatbot is a simple software program that is used to conduct online discussions using text or text-to-speech. Rather than giving direct contact with a real human agent. Voice user interface (VUI) technology, on the other hand, is speech recognition technology. It allows people to communicate with computers, smartphones, and other devices via voice commands. You’ve interacted with a chatbot if you’ve ever seen a pop-up on a website asking if you have any questions. And Alexa and Siri are popular examples of VUI technology in action.
These technologies, when combined, provide an effective communication solution for any organization, large or small, and they represent the future of brand engagements and consumer experiences.
Vehicles Self-Driving Vehicles
An autonomous vehicle, often known as a driverless car, runs by executing required activities without the need for human intervention. It can perceive its surroundings, and Tesla is a well-known example of an autonomous car maker.
Although Big Oil has a death hold on the automobile sector, we anticipate that their rule will end and that vehicles will ultimately be electric and have some autonomous functions. While we frequently think about this technology in terms of individuals, there are many economically feasible applications for it as well. You could see self-driving semi-trucks on the highway next to you one day!
Co-creation by Machines and Augmented Design
Machine Co-creativity refers to AI’s capacity to aid humans in the creation of artistic works such as music or paintings. Augmented Design is a subset of Machine Co-creativity that focuses on enhancing the design process by combining AI and humans.
Platforms for Digital Content
Uber, Airbnb, Facebook, Amazon, Square, Social Finance, GitHub, and Waze are some notable examples of digital platforms that promote business interactions and exchanges between providers and customers. Because of the success of digital platforms, more conventional firms that do not have a digital presence are considering shifting their business models, and we do not anticipate this trend to stop anytime soon.
Cybersecurity and Resilience in the Cyberspace
A Cybersecurity or Cyber Resilience Framework is an essential part of every organization. Organizations now face a variety of data security concerns, including phishing and malware. Companies should earn the status of cyber resilient to secure their clients’ data and gain their trust.
Businesses that are cyber resilient can consistently produce the required output in the face of a cyber-attack. As a result, every organization should prioritize being cyber resilient. Accenture, for example, has transitioned from being Cyber Secure to Cyber Resilient. This will also help the war against scams, it will help bot protection, which currently is a huge problem. Btw, you can check your IP reputation here.
Voice User Interfaces and Chatbots
Voice interface design (VUI) technology, on the other hand, is speech recognition technology that allows people to communicate with computers, smartphones, and other devices via voice recognition. You’ve engaged with a conversationalist if you’ve ever seen a pop-up on a website asking if you have any questions, and Cortana and Siri are popular instances of VUI technology in action.
Micro-moments and mass personalization
The term “mass personalization” refers to the practice of providing individualized products and services to large groups of people. Micro-moment, on the other hand, refers to reacting to client demands at precisely the appropriate time. To do this, marketers must become more helpful to satisfy their clients’ real-time requests, which is only feasible with the support of AI, ML, and Big Data technology.
As the world returns to the office and work, concentrating on business architecture will be more important than ever. Leaders will be identified by the brilliance of their technical decisions rather than the success of their commercial plans.