Man has trodden the path of ingenuity since the time of his genesis. For aeons he’s used his undying spirit of innovation to tame the forces of nature and bend them to his will. He has seen thousands of technology trends over the years.
Starting from the sharpening of stones, control of fire, clothing, agricultural ploughing, use of the wheel, etc. Right up to the use of steam engines, incandescent light bulbs, computers and the internet. However, no recent invention in human history has been as radical as the internet. Let me elaborate.
The advent of the internet has resulted in most people and places in the world to become connected. Be it financially, politically, socially or culturally. These connections have been established through the exchange of massive amounts of data.
The classification and computation of such data over time, has made way for some of the most revolutionary technology trends. Trends that have the potential to turn the world as we know it. Into something resembling the ones that we often read about in sci-fi novels.
Here are 5 such Technology Trends you can’t afford to ignore:
The blockchain technology involves a kind of distributed data structure which is tamper proof, permanent, and decentralised. This data structure is in the form of a ledger(chain), made up of blocks. And each block contains encrypted transaction data that is immutable and permanent.
Now, this ledger is visible to all the computers (or nodes) in the blockchain network. Which means, each node in the network has visual access to all the blocks of the ledger. Making it impossible for the ledger to be modified without intimation to all the nodes in the system.
Now let us understand how blockchains work:
When a person in a blockchain setup decides to make a transaction to another.
He first puts his transaction data in a box.
The contents of which are then broadcasted to all the nodes in the network, for validation.
After validation by the nodes, we can say that the transaction within has been verified, and the box, validated.
The validated box is then added to a chain of boxes containing other verified transactions.
Thus, completing the transaction in the process.
This chain being talked about is immutable, meaning no changes can be made to it, and it is completely transparent. Plus, there is no central authority which verifies the proposed transactions, making the network completely decentralised.
As for verified transactions, they can contain cryptocurrency, contacts, records and other information. Furthermore, the transactions have no intrinsic value of their own, and exist entirely in the network in non-physical form.
Thus, given that blockchains are secure, transparent, decentralised and cheaper. Its only understandable that it fills an important place in this list of technology trends we can’t afford to ignore.
Internet of things (IoT)
The IoT is a system involving digital and mechanical devices, computers, objects, and an internet cloud. It is basically a network of interrelated entities, each having its own unique identifier. With the ability to store and transfer data without human to human, or human to computer interactions. It plays an important role in the automation of various processes of various industries.
As more and more data are stored and transferred by increasingly smarter devices, the IoT networks grow stronger. The definition of IoT has evolved with the intersection with multiple other technologies. Few of them being real time analytics, machine learning, big data, commodity sensors and embedded systems.
Now let’s see how IOT helps in the process of automation:
First data from all interconnected devices are fed into an IoT cloud.
Then the data is classified and treated, taking into account real time events, previous user experiences and user profiles.
Then the data is orchestrated and computed using algorithms in the IoT cloud. Such algorithms contain conditions, states, rules and actions, according to which the desired output is generated.
The desired output then successfully creates engaging user experiences. Furthermore, user feedback is also taken as data to enhance future experiences.
IoT has proved to be indispensable for automation in many modern industries. Like communications, transportation, medicine, manufacture, military applications etc.
AI and Machine Learning
Artificial intelligence is essentially what enables machines to reason, perceive, plan and learn. All of which is done according to the data fed into them. With the increase in computational power and storage capacity of machines, AI is bound to grow.
Devices using AI also have the ability to take as data, their own experiences. This makes it possible for them to evolve without the involvement of human programmers. This is called machine learning.
To know more about how AI works and how it will be affecting out future. Read the article “How artificial intelligence will be transforming the future” on this website.
Extended reality involves the partial or total depiction of real or real-time environments, digitally. It basically refers to the various ways we can combine the physical world with the virtual, to enhance our perception. The extended reality technology uses computer generated graphics and simulations to enhance human perception.
It can further be broken down into three types:
Augmented reality: When computer generated graphics are overlaid on the physical world. The enhanced perception thus created can be termed as an augmented reality. An augmented reality is perceived usually on the screen of smart phones and tablets through the camera.
Virtual reality: This is a perception created when the user wears an immersive headset to experience a totally virtual world. This virtual world contains a 360-degrees view of a reality that is entirely computer simulated.
Mixed reality: This is a type of augmented reality also sometimes known as hybrid reality. This involves combining the real and virtual worlds and allowing them to interact with each other in real-time.
Extended reality as a technology trend is prevalent in various industries. E.g. medical, manufacturing, tourism, military, transportation, gaming, etc.
Robotic Process Automation (RPA)
Robotic process automation involves the use of artificially intelligent bots to carry out software processes. These bots have machine learning capabilities and can grow smarter with experience. They are often assigned functions within a software. Functions that involve high volumes of data and repetitive processes. Examples of which are calculations, managements of records and ledgers, monitoring, etc.
Using these bots, many software processes have now become automated. Consequently, saving the time and energy of the employees that previously had to handle the processes manually.
RPA has benefited many organizations by:
Hastening work and production.
Increasing efficiency by reducing scope of errors.
Improving compliance to rules and regulations.
Saving time by improved and fast maintenance and monitoring of data.
Have a nice day!!