Technology develops at exponential rates, and this means that profound changes are beginning to impact the way that the planet operates, and the way that companies work.
There are extraordinary opportunities available to individuals and companies if you can understand the burgeoning technologies that will become prominent over the next decade.
If you are interested in learning more about the hot technologies that are changing the world at a rapid rate, please continue reading this article.
1. The Internet of Things
Get ready to hear a lot more about the Internet of Things (IOT) over the next decade. This is one of the most exciting new technology prospects to emergy since the emergence of cheap personal computers.
IOT is the concept that all of the devices both within and outside your home should be connected to the internet. In essence, this would create a seamless world of smart devices which continuously talk to one another.
The data and information that all of these devices could create together could have a profound impact on certain industries. IOT would be a dream for digital advertisers and marketers, would who gain new insight into the habits of consumers.
We are already beginning to see the first signs that IOT is taking hold. Home devices such as Amazon Alexa and Google Home have reset consumer’s concepts of what a gadget can do in their home life.
These are just the first of what will be an increasing stream of connected devices.
2. 5G Connectivity
The speed upgrade between 3G and 4G mobile data networks was perhaps one of the most significant today. This change in mobile data speeds enabled millions of people around the globe to access information like never before.
The jump between 4G and 5G mobile data is set to be even larger. 5G will reportedly offer ten times the speed of 4G in peak conditions.
The impact this will have on communication capabilities across the will cannot be overstated. Large amounts of data will be available instantly, bringing employees in different countries closer together.
It should also be remembered that this will depress the price of 4G mobile data significantly as well. This may give your company opportunities in the developing world, especially if you are running a service industry company.
Forget about the controversies you’ve heard about 5G in the past. When it arrives, it will change everything.
3. Robotic Process Automation
A new form of IT solution is going to take advantage of automation to save businesses vital time. The time and cost implications of this new technology are significant.
Robotic Process Automation (RPA) is an automation technology that has been designed to mimic most human user actions.
These computers are able to copy and paste information, move files and folders around and other tasks that used to be the domain of humans.
There is an immediate cost benefit to using RPA. The cost savings, when compared to a traditional IT solution, is significant, allowing resources to be used elsewhere.
There are a number of RPA products already available on the market. One of the most advanced RPA products available is this solution.
4. Machine Learning
Artificial Intelligence (AI) has moved from being the stuff of science fiction to science fact in a matter of years. Machine learning will have to advance the capabilities of AI at an incredible rate.
Machine learning is the ability of an AI system to improve itself by learning from data and information, without needing any additional programming.
With all of the data that is available today, a computer can spot trends and identify patterns. This information, in turn, will allow the machine to make new decisions and continue to improve itself.
Self-learning machines will begin to provide data insights in industries throughout the world. Expect financial service institutions, healthcare providers and multinational advertising agencies will all use this technology.
5. Virtual Reality (VR)
Initially, VR was mainly viewed as a technology to be used solely for video games. However, this is no longer the case, as a number of industries have taken notice.
VR can be used as a brilliant training tool for healthcare applications, and elsewhere. Why take any risks when teaching someone to drive when you can set them up with a simulator to get familiar with driving first?
Expect to see VR headsets in most offices by the mid-2020s.
6. Cryptocurrency
Not even paper money and credit cards are immune from the march of technology. As we move towards a cashless society, a new form of currency is beginning to take hold.
Cryptocurrencies are a means of exchange for goods and services (like money) that is based on the internet. The key difference between cryptocurrencies and all others is that there is no central bank controlling it.
The value of the currency is simply derived by supply and demand. There is no influence of a central bank, which can manipulate the value of the currency for political reasons.
Cryptocurrencies announced themselves to the world in the form of Bitcoin in 2017. Fast forward two years and there are now a whole host of viable cryptocurrencies for you to invest in.
7. Touch Commerce
Touchscreen technology may not seem like new technology, as it has been available in Apple products for several years now.
However, many of their competitors are now catching up. This will mean that consumers around the world will be able to make quick purchases with a swipe of their finger.
Services like Samsung Pay have now launched, and we can expect more to emerge as time goes by.
All of These Hot Technologies Will Be Available Soon
What is so exciting about the various hot technologies discussed in this article is that they will be available much sooner rather than later.
We are already seeing several fairly sophisticated examples of machine learning and IOT. Within five years these will look primitive compared to the new applications that become available on the market.
All of these technologies will provide huge opportunities for businesses to reach new customers and earn new revenue streams.
Which new technologies are you looking forward to taking advantage of for your business? Think about this and how it could be integrated further into your business in future.