Top 9 New Technology Trends
3. Edge Computing
4. Q&A with Bill Gates
5. 5G Networks
6. The Future Of Wireless Connectivity
7. Augmented Reality
8. Blockchain & Cryptocurrency
The Internet is growing at an exponential rate and it is estimated that it will be worth over $13 TRILLION by 2025. This is a huge amount of information to process through the current technology system. These incredible advancements are enabled by data centers and cloud computing which provide better accessibility to these vast amounts of information, resulting in more opportunities for businesses to improve their digital presence, generate revenue and grow their business model. Currently, many large companies across various industries operate on a single data center within a city. As more cities become connected to one another, this opens up massive opportunities to add value to all businesses. A recent research study found that 80% of global corporations currently use three or four different data centers with two being used as main hubs and others supporting multiple offices (PwC). However, that is not enough. Many companies are still striving to create a common network by combining many buildings into one central location in order to reduce costs and enhance connectivity. This can only happen if there is efficient storage of data and efficient management of the data which will involve advanced analytics and intelligent decision making (IBM Research). The next big leap in the evolution of computing technologies will come through IoT connected devices. With more than half of U.S households having access to smart devices such as robots, sensors and other home automation systems, analysts predict that by 2020, 50 million homes will have access to them (Statista). The future for IoT devices is also going to change how we interact with one another, as machines and cars will start to drive us away from our daily routines and turn into a much more flexible world of interactions between humans and machines. In addition to the impact of increased productivity, smart devices promise lower energy consumption and reduced pollution from transportation via predictive maintenance. If these trends continue, they will transform our relationship with the physical realm and potentially enable new ways for people to get out and about. Here are some key emerging technology trends by market segment:
Artificial Intelligence (AI) and Machine Learning
According to Gartner Inc., “AI is helping enterprises develop faster, smarter, and more accurate decisions by working with computers like people,”(www.gartner.com). Companies that are able to utilize machine learning algorithms can do so in real time to make automated processes such as customer service lines and marketing campaigns. It can help improve employee productivity and efficiency and help take pressure off customer support reps. As discussed previously, artificial intelligence will affect business performance by creating processes that require less person to complete, but instead employ automated workflows. This could help boost efficiency as users can focus on what they have already spent more time doing. Moreover, businesses who are able to apply AI technology at scale will see significant cost savings as well. One major benefit for implementing AI is that it will increase efficiencies by reducing the amount of labor required to complete tasks which could lead to increased profits as well. Businesses looking to implement AI should consider:
What’s your strategy for ML? Is it improving existing capabilities or developing new ones? Does it need to be deployed on dedicated hardware or software-defined infrastructure? Do you know if it will increase your workforce? All these questions should be answered before considering hiring a firm that offers AI services to your organization.
Robotic Process Automation (RPA), or Robotic Process Management Systems (RPM), are the first kind of AI-enabled systems. They are built to allow a developer to write code to control the process. They may use natural language processing and image recognition as an extra layer that mimics a human engineer interacting with the computer via the keyboard. RPA can automate repetitive manual tasks and save time for managers and employees by eliminating them. Because programs are written in Python, RPA is capable of running many different programming languages allowing you to tailor your application.
Currently RPA is used primarily by startups and midsized organizations. Examples include Upstart, Zendesk, Workday, Alteryx, Mulesoft, Wark, etc. These firms all leverage RPA in some form for their operations. There are several advantages to using RPA. First is that RPA allows developers to run their own scripts without having to rely on IT resources. Using RPA also means you don’t need to hire programmers and developers, making this an attractive option for smaller companies and freelancers who lack capital investment. Second, RPA is great because it helps teams to spend more time on important tasks instead of on mundane procedures. Finally, most customers, both small and large, prefer to use enterprise-grade solutions and are willing to pay higher prices for superior quality. Despite RPA’s high success, there are many barriers that slow adoption, such as the initial cost and complexity associated with configuring and maintaining these systems.
Internet Of Things (IoT)
The concept of Internet of Things (IoT) was originally conceived by John McCarthy back in 2000. He defined it by stating, “The Internet is the sum total of anything that moves; something that moves means something moves; and every thing that moves has its price. And then everywhere, somewhere on the network, there’s a device that takes care of everything else. So when I say things move everywhere, I mean things; you can’t really say things move anywhere, because they don’t. But when I say they move anywhere, I mean devices.” Today the concept of the internet extends far beyond smartphones and tablets. According to Forbes and Google, IoT can connect nearly 7 billion devices and equipment globally while being forecast to reach 100 billion devices by 2022 (www.fortune.com). Also, according to Bain and Company, IoT is expected to account for 70 percent of total IoT spending by 2021 and is set to deliver 25 percent growth per year for the next 10 years (www.bainresearch.com). Thus, IoT has no shortage of potential benefits, but the challenges involved in scaling and managing these networks, especially given the ever increasing demand for power and bandwidth, have made it difficult for companies to move forward. In the past few years, however, there has been tremendous progress in the field of IoT, including devices that are powered by batteries, but there is still ample untapped opportunity for those seeking to enter this industry, such as those in utilities, manufacturing, healthcare (and more!)
Powering 5G to Accelerate Adoption Across Industries
The world is becoming increasingly dependent on mobile connections. While cellular networks have been around since the 1980s, the first generation of low capacity mobile networks, consisting mainly of wide area mobile telephone networks such as AT&T (American Telephone Telecommunication Corporation) (AT&T) and United Telephone & Telegraph (U-T), were developed in the early 1990s. By the late 1990s, cell phones began to rise in popularity as consumers sought wireless communication via wireless handheld devices. Cellular tower operators soon upgraded their towers to accommodate wider coverage as a result of advances in telecommunication technology. However, cellular towers are limited geographically in breadth, meaning the distance an individual can receive signal varies from rural areas to urban areas. Fortunately, these limitations do not limit the type of wireless transmission protocols that wireless carriers offer. Mobile broadband technology has improved greatly over time, making wireless networks very popular with consumers because of the affordability of these devices. Due to this rapid popularity, carriers have had to expand their network coverage while simultaneously trying to figure out how to efficiently transmit data safely over these broader distances. Initially, mobile broadband was provided solely by wireless carriers. Later in 2001, T-Mobile entered the market and helped bring more mobile broadband into being available across the country. T-Mobile saw great success in 2005 when they partnered up with Sprint and established a direct route from the company to subscribers in just under 20 minutes with an average speed of 18.5 megabits per second (MBPS). However, it took long for the entire economy to come online due to the ongoing economic slowdown. Consumers felt disconnected by their mobile phones and weren’t sure whether they would ever need a wireless connection in their lives again. Then, the 2008 financial crisis hit hard and left Americans stuck with stagnant salaries and underemployed jobs. To combat this growing problem, telecommunications carriers started offering mobile broadband while keeping fees super affordable. What T-Mobile did and others continued to do is bring this issue to light. By 2003, the company was providing mobile broadband speeds almost identical to the original version of its previous tower. This allowed the company to put the mobile communications boom in motion once again. When the telecom giants brought the benefits of fiber optics and Wi-Fi to public attention, carriers quickly saw an open business model, giving themselves and their clients the chance to monetize their investments and improve reliability. At exactly the same time when everyone was getting onboard with mobile broadband, the companies were seeing an opportunity for a return on their investments. As mobile broadband exploded in popularity, it created enormous demand for mobile phones. Just as consumers became accustomed to the idea of owning a phone, they wanted to own a SIM card that was tied to an address. That meant carriers had to adapt to changing consumer behavior and search for ways to retain their ability to capitalize on mobile broadband. In 2006, the FCC designated Mobile Broadband Service providers as the exclusive licensing agents