15 Business Technologies That Will Shape The Future
The World is shifting to a place of total technology take over, and many businesses are gradually going digital. There are various technology trends in the market today, and future trends are also rising. We may not be living in a different planet or going to work using jet packs, but there’s no doubt that the coming years will be more of technological advancements.
A time will come when we’ll look back at these years and wonder how we survived without technologies in our lives. Technology has become our daily life practices, from answering messages on emails, to surfing the internet, and a lot of other technological improvements.
Below are some of the business technologies that will shape the future.
IoT is one of the emerging technologies that offers the greatest opportunities to develop new revenues and businesses. IoT provides data that is needed to improve marketing, decrease costs, increase sales, and record reports. IoT can be confusing and overwhelming, even though it is common in the world today. It can mean different things to different people, but it can also mean the start of new businesses for any organization that cares to add it to their operations. When implementing IoT in your business operations, you do not have to start from the scratch. It makes business operation easier, faster and cheaper.
Blockchain helps to solve the problem of managing and securing transactions across the internet. It is a growing list of records, called blocks, that are used to link cryptography. Each block comprises of cryptographic mixture of the previous block, which can be a timestamp or transaction data. Blockchain is an open, distributed ledger that records transaction between two parties accurately and in a permanent way. A blockchain is governed by a peer-to-peer system completely attaching to a procedure for internode communication and validating new blocks. Blockchains are secure and illustrate a distributed computing system.
- Artificial Intelligence (AI)
Artificial Intelligence is already influencing the way individuals interact with businesses through intelligent bots and websites. AI improves data security, employee trainee and output, it also helps to increase decision making process and brings accuracy. Many businesses are using these tools for their daily activities, and it is affecting the way we relate with them too. Companies with AI technologies can greatly increase their efficiency and productivity. It helps to reduce costs, while still getting quality products and services.
The rise of 5G is seen in our ability to do things on wireless platforms- moving, manipulating, and analyzing data. 5G is set to fully roll out in the coming years, and it will give rise to the development of more complex apps to solve problems and increase growth in all industries. In a recent release, Michael Haines, the community chair and director of partner incentive strategy and program design for Microsoft said, “The development and deployment of 5G is going to enable business impact at a level few technologies ever have, providing wireless at the speed and latency needed for complex solutions like driverless vehicles. Once fully deployed geographically, 5G will help emerging markets realize the same ‘speed of business’ as their mature counterparts. Solution providers that develop 5G-based solutions for specific industry applications will have profitable, early-mover advantages.”
Robotics involves the process of using machines to make businesses faster, cheaper and more efficient. The world is moving to a world where robots are doing the jobs meant for humans. They can even achieve some tasks that seem difficult for humans to do. As much as it will help improve the efficiency of business, it will also put humans out of business in some industries. But we still can’t deny the fact that it is needed in the world of technology to make life easier and better.
- Virtual Reality(VR) and Augmented Reality (AR)
VR and AR technologies can help organizations improve efficiency and individual productivity. With VR, you do not have to be physically in a place before you have a feel of the experience. It was only used in the entertainment industry before, but now, it has been implemented by many other industries like medicine and automobile worlds. It can be used to perform a virtual surgical operation that seem difficult and any mistakes would be costly. It is used as sort of a template for know how to go about the real procedure. It is also used in the military world where you can train one-on-one without actually being in harm’s way.
Biometric sensors includes face, fingerprint, and retina scans. They are mostly used by banks to access individual accounts. It is becoming the major tool for verifying identity. Before, you need to carry debit cards around to be able to perform a transaction on an ATM, but with the use of biometrics, you do not need them anymore. It will reduce the risks transaction fraudulent activities, as your fingerprint or face would be needed to access your account. It also doesn’t require you memorizing passwords.
Drones are a form of robotic operations. They are used in situations where flight can be considered too risky or difficult. They are used to cover an event from the sky, without being there physically. All you need is to control the drone and it covers whatever you need it to. You can also view what is going on where the drone is through the monitor. Drones are a high development in the world of technology and are gradually taking over businesses. It will shape and change the way we do things in the coming years.
- Cloud computing
Cloud computing is a means of storing data on other computers and accessing them through the internet. Through this app, individuals can access data on the internet without having to go through stress. Edge computing also helps to store data on mobile phones for easy access whenever needed. Companies and businesses are using it to store important data and customer information. The World has gone from the use of pen and paper to store data, and it cloud computing has actually come to stay.
The introduction of chatbots has led to better customer satisfaction between businesses. Chatbots serve as guide and instructors on an app to help users find anything on businesses websites. They serve as the link between customers and industries. It had helped attending to customers easier and faster. You no longer have to go to a bank for enquiries and complaints, as you can easily do that through chatbots.
- Computer vision and facial recognition
Since machines can talk, technology has improved by making them see as well. This technology allows machines to visually interpret the world around them. Facial recognition is an example. Once the system reads your face, it can tell you what is going on in your health and even in your mind, and solutions that can help. This form of technology has come to stay, as many other inventions are coming out of them. It is even used in medicine to diagnose problems now, and procure solutions.
- Autonomous vehicles
The world of transport has also improved with the use of autonomous vehicles. The next decade will see more of these vehicles that are totally independent of human involvement. Autonomous vehicles are cars, robotic cars, that are capable of sensing the environment and moving safely with little or no human involvement. This technology will reduce the risk of accidents and traffic congestion on the roads. Many countries are employing this technology already and we expect to see more of it in the coming years.
- Gene editing
The increase in technology has risen to the level that analytics and computing can be used to better understand the human gene. It can also be used to alter the genetic structure of living organisms to suit certain conditions. For instance, it can be used to correct DNA mutations that can lead to cancer. This technology will shape the world of medicine, as it will reduce the case of dangerous diseases and illness in the human body. It will also help doctors understand better how the man gene works, and ways it can be manipulated.
- Machine co-creativity and augmented design
With the use of AI technology, machines can do so many things, and this includes creating artwork and designs. This technology can create design and arts to shift towards greater affiliation with machines. Machines can now create amazing designs in 3D where adjustments and corrections are easily made.
- Digital platforms
Digital platforms are those like Uber, Facebook, and Airbnb that enhances connections, communications, and exchanges between people. Digital platforms are now the major ways through which we do our daily transactions. This has caused many business to move from traditional to platform based. You no longer have to physically go a store to get groceries, or to meet someone for a meeting, all these can be done through digital platforms. The world has gone digital, and will go even more in the years to come.
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