Technology is all around us and it influences the way we live and work. Take a loom at the technology trends of 2018 that will also extend to the future.
Artificial Intelligence or AI and its subset machine learning are subtly but irrevocably influencing technology. Machine learning is making great progress. Witness the rise of Tensor Flow, Google’s second generation system for machine learning based on deep learning neural networks. These networks carry out operations on multi-dimensional data arrays known as tensors and Google has even built a tensor processing unit for machine learning to take advantage of Tensor Flow. Among its various applications are search queries where it can supplement or replace static algorithm based search results. It can be applied to video, images, sound and voice for increased accuracy. For instance, chat-bots can recognize sentences or automatically translate languages.
Bitcoin brought block chain into the limelight and this technology now finds greater adoption in business for data encryption and verification with higher security. Smart bonds and smart contracts using block chain technology enable automatic payment to holders of bonds and for contracts to self execute. Brokers find it useful as do insurance companies for claims processing. Car keys, smart-phones and real estate transactions are just a few examples where cryptography offers higher levels of security.
Internet of Things (IoT)
It is a connected world with the Internet of Things linking together devices and people. One of the most visible areas is smart homes where you have air conditioners, light, fridge and heaters as well as audio-visual equipments connected together through sensors. It just needs a smart-phone to program and control these equipments. IoT has even greater use in industry to link machines to centralized control equipments for monitoring performance. It is present in health care services, in automobiles and in wearables. IoT in smart cities will help in energy management, pollution reduction, security and communication as well as better transportation. A future without IoT is just unthinkable and industries that adapt it sooner will find themselves ahead in the race.
Bitcoin’s rise has sparked an interest in cryptocurrency. Cryptocurrency is gaining traction as a mode of payment on various platforms and trading has also increased significantly in recent times. Tim Draper, a venture capitalist, has written a book and predicts that Bitcoin is likely to increase in value to USD 250000 by the year 2022. He expects cryptocurrency may replace credit cards and actual currency. This should further spur investor interest in cryptocurrency. Whether governments like it or not, cryptocurrencies are here to stay.
There are terabytes of data flowing across the internet and deriving useful insights from big data can be extremely beneficial and it is also quite complex. Data mining does present challenges but with artificial intelligence and requisite hardware, data mining will make progress in the time to come. It is not just text where data mining will shine. Data mining extracts data from multimedia and from mobile devices to glean information about individual users.
4G LTE which is currently the latest technology may be supplanted by 5G by 2019. It is 10 times faster than 4g and it could change the way content is streamed and how businesses operate. Self driving cars will no longer remain only in concept but could become a routine thing one sees on roads. With 5G they can detect obstacles and follow maps as well as communicate with other cars. 5G will impact smart cities as well as internet of things. With 5G in place, AR and VR will work smoothly and entertainment as well as shopping will reach new levels.
Mobiles in enterprises
The ubiquitous smart phone could be seen as a point of convergence of diverse technologies since it can be used as a controller, as an information center and as interactive devices for communication and remote operation. Enterprises will likely make greater use of mobile workforces using mobile devices for interaction. Greater use of mobiles will naturally lead to micromoments that marketers will leverage to deliver personalized messages.
Software as a Service (SaaS)
SaaS is nothing new. It has been around for years but we could see a decided shift towards it in the future as developers focus more on offering hosted services instead of licensed versions of software.
Ecommerce is growing and there is no saying when it will plateau. Technologies such as AR and VR will give it a fillip since buyers of products can actually visualize the product in their home setting or run a demo before they buy.
Technology, in a world is becoming more sophisticated. Traditional developers will need to upgrade themselves and companies that want cutting edge solutions will look for developers with capabilities in IoT, VR and artificial intelligence.