“We are at the point of a big transformation” – Patrick Gauthier, VP Amazon Pay.
Technology is powerful enough to change the world around us completely.
From the way we interact with businesses to how we socialize with others; everything is evolving with the advancement of technology.
There are many technological inventions which have some great potential to influence the way how humans live. Today we will discuss 7 such technologies which are evolving at a rapid speed while transforming the world around us.
Technologies That Will Change the World
Let’s see what these technologies are and how they are going to change our future.
Artificial intelligence
Artificial Intelligence is the most impactful technology of recent times. From being science fiction to an indispensable part of our daily lives, AI has come a long way in the last decade. Many industries have already started using this future changing technology.
AI has a great impact on every phase of human lives. From better customer service with chatbots to effortless transportation with self-driving cars, Artificial Intelligence is changing the industries for a better tomorrow.
The rise of Voice Assistants is one of the most powerful innovations of Artificial Intelligence. AI enables companies to analyze their data better for identifying customer needs and offer more powerful and robust search functionality for improving customer experience.
With the majority of the world’s largest economies investing in AI technologies, we are heading towards an era where machines are becoming smarter allowing the humans to do more creative jobs.
Big Data Analytics
Big Data refers to an extremely large volume of structured, unstructured and semi structured data sets. These data sets are too large or complex to be processed by traditional data-processing software.
From small websites to large eCommerce sites, every business with an online presence generates a large volume of data on a regular basis. Whether it’s your customer data, user feedback or sales records, you need to protect the data and be able to process it for getting meaningful insights.
Big data analysis uses predictive analytics, user patterns, user behavior analytics, or other advanced data analytics methods to extract value from unstructured data, and sometimes to a particular size of data set.
Big Data has huge power. We need to strike the right balance and use this future changing technology with the utmost care. In the future, Big Data along with Machine Learning will be extensively used in many industries like healthcare, marketing, agriculture and more.
Robotic Process Automation
Robotic process automation or RPA is the process of automating high volume, routine business tasks that were previously handled by humans. RPA is a part of the digital transformation journey of a business that uses software with Artificial Intelligence and Machine Learning algorithms.
Software robots are the workforce of the future. They can perform tiring monotonous tasks and boost employee productivity by allowing them to focus on more skillful work.
From transaction processing to IT management and automated online assistants, Robotic Process Automation can perform all types of repetitive tasks across various systems and applications.
Industries like healthcare, transportation, and telecommunications are investing big in RPA technologies. According to reports, the global RPA market is expected to reach over $3.97 billion by 2025.
Blockchain & Cryptocurrency
Blockchain is a kind of decentralized ledger or a Digital Data Management protocol that stores and transmits information while providing a secure and transparent way for tracking property ownership.
Cryptocurrency, on the other hand, is a digital form of money built on Blockchain technology.
It wasn’t too far when the value of Bitcoin, the first Cryptocurrency hit over $19000 per coin. Though the value of Cryptocurrency has fallen drastically after that, still it costs many thousand dollars.
The revolution in digital currency has already begun as many platforms are striving hard to connect the real-world assets with the global trading power of blockchains.
Virtual and Augmented Reality
Before we discuss the future changing impact of virtual reality and augmented reality, let’s check out what these two technologies mean.
Virtual Reality (VR) is the computer-generated simulation of a 3D environment in a way that the user with some special electronic equipment can feel and interact with it.
In the case of Augmented Reality (AR), a real-world object is overlaid by some computer-generated perceptual information. AR uses sound, display, and effects to enhance the user’s real-world experience.
With companies like Apple and Google investing a huge amount in Augmented and Virtual Reality, the future isn’t far behind when we will see these technologies replacing many conventional things we use today.
Cognitive Computing
Cognitive Computing is the ability of computers to emulate some of the cognitive capabilities of humans. This future changing technology can analyze a large amount of information and interpret patterns to get a meaningful explanation.
In earlier days, data was fed into traditional systems that were pre-programmed. However, decision making was fully levied on humans. But cognitive systems can demonstrate insights and interact with the human beings more naturally than of those traditional systems.
The potential of cognitive computing is boundless. From identifying life-saving treatments to enhancing customer engagement, this future changing technology is impacting the businesses at a large level.
IoT (Internet of Things)
“By 2020, there will be tens of billions of data-spouting devices connected to IoT.”
From cities to agriculture to healthcare, IoT or Internet of Things have some crucial impacts in almost all the areas of life today.
In simple terms, IoT is a web ecosystem that consists of web-enabled smart devices that can collect, send or act on the data found from our living patterns and environments using embedded sensors, processors and communication hardware.
IoT can bring a lot of benefits to human lives. Future is gradually changing where this new system is changing the way how things are done.
Conclusion
Technology is getting even better with each passing day. From the above discussion, it is evident that these technological innovations will greatly influence human lives in the near future. The day isn’t far away when these future changing technologies will go mainstream and change the world around us.
