There are so many new technology trends coming out of the tech industry that it can be hard to keep up. There are Blockchain, Artificial Intelligence, the Internet of Things, and Quantum Computing to name a few. But which ones are worth following and what are their biggest implications? Read on to learn about these new technology trends and their potential impact on our world.
Artificial Intelligence
One of the newest technology trends is AI, or artificial intelligence. According to research, 58 percent of business professionals are researching AI. However, only 12 percent of these people are actively using AI in their business. The technology is still difficult to implement, but some companies like Facebook and Microsoft are working to make AI more user-friendly.
As an emerging technology, AI is expected to continue to change many industries. Its growing reliance on big data is a concern. Recent scandals involving Cambridge Analytica and Amazon Alexa show that the potential for misuse of big data is real. Critics warn that without limits, AI will become more intrusive and will harm people’s privacy. In addition, there are ethical issues that need to be addressed, and AI companies should consider this in their business practices.
AI is already being used to automate a variety of tasks, such as predicting when wind turbines need repair. It can also be used in smart energy management systems that collect data from a variety of assets and deliver insights to decision makers. This technology has the potential to transform the economy.
AI also allows us to add intelligence to existing products, such as Siri, our favourite personal assistant. Combined with large amounts of data, AI is improving all sorts of technologies and services. It is capable of learning from data through progressive learning algorithms, and it can even learn to understand human language.
Blockchain
One of the most popular Blockchain technology trends is Blockchain as a Service (BaaS). This cloud-based solution offers the same benefits as Blockchain, but is hosted by a third party. Blockchain as a Service gives companies the flexibility to experiment with new Blockchain applications, without the hassle of setting up their own blockchain infrastructure.
While Blockchain is a promising technology, there are still several challenges that must be overcome before it can be widely adopted. One of the main barriers is interoperability. Because blockchain does not speak the same language as other networks, it is difficult to move data or assets from one network to another. The technology could help eliminate the delays and fees associated with middlemen and facilitate the exchange of data across different platforms.
Blockchain has proven its utility in supply chain management and healthcare, and further adaptations are likely to emerge as companies gain trust. In the healthcare industry, blockchain-based supply chains could help prepare the world for a future health crisis. It would also increase the transparency and efficiency of logistics. It could also improve cybersecurity. Smart contracts are also gaining traction as corporations look to streamline processes and cut costs.
Blockchain technology is also a secure way to transfer money online. Unlike the traditional method of sending money, the blockchain eliminates the need for third-party intermediaries, which could lead to data tampering. Additionally, it can help prevent identity theft.
Internet of Things
The Internet of Things (IoT) is a new technology that can significantly impact businesses. It can help businesses optimise processes, minimise costs, and improve customer experience. IoT new technology trends are predicted to continue growing over the next few years. Global Data identified four of the key trends that will impact IoT.
Companies will increasingly use artificial intelligence (AI) in conjunction with IoT. AI can help businesses with predictive maintenance, supply chain planning, inventory planning, voice assistants, and logistics. Other IoT new technology trends include 5G, edge computing, digital twins, and wearables. These technologies are expected to accelerate the adoption of IoT.
The benefits of IoT are far-reaching, especially in public sector and service-related environments. For example, government-owned utilities can use IoT applications to inform their users of major outages or smaller interruptions. The technology can even be used to dispatch resources in a crisis to help the utilities get back up and running quickly.
In connected logistics, IoT technology will improve efficiency and safety. IoT devices will enable companies to monitor their fleets remotely and trigger preventive maintenance. Remote monitoring of machines will also allow companies to create new business models based on product-as-a-service. Customers will no longer purchase products, but will pay for the use of those products.
Companies can use IoT to monitor and track their investments. The data collected can then be fed into sophisticated algorithms to deliver actionable insights. Increasing IoT usage will be essential to enhancing supply chains. Another emerging trend is edge computing, which will make self-driving cars possible and resolve security, privacy, and cloud dependability concerns.
Quantum computing
The advancement of quantum computing has the potential to revolutionise many industries. The technology is much faster and more efficient than existing computers. It can solve complex algorithms that are impossible for other machines to solve. Its use in autonomous vehicles is expected to have an enormous impact in the near future. Google and other companies are already working on self-driving car software development projects. Other applications of quantum computing include the production of new materials and renewable energy. In the future, it could even help in the treatment of diseases such as Alzheimer’s.
While quantum computing has made great strides, it is still far from being a common feature in every household or organisation. Even though startups have raised hundreds of millions of dollars, these systems are unlikely to reach the mainstream market in the next five years. This is largely due to the difficulty in building and engineering systems using the new technology. In addition to this, they are also prohibitively expensive.
As the technology advances, it will be used to design consumer products. Although quantum cell phones may not be realistic just yet, the advancement will have a profound impact on the fields of industry and defence. For example, quantum computers will be able to decrypt RSA encryption and will help in the development of new technology in the Hvac industry.
Driverless cars
Driverless cars use sophisticated software to map their surroundings and give instructions to the actuators controlling the car’s acceleration, braking, and steering. The software uses various sensors to avoid obstacles, such as other cars and pedestrians, and can also detect traffic lights and road signs. It also uses obstacle avoidance algorithms, predictive modelling, and object recognition to navigate. Nonetheless, fully autonomous cars are still years away from being available for the public.
Companies are racing to be the first to deploy commercial services based on driverless technology. Companies like Waymo and Cruise have focused much of their testing in dense urban areas. Meanwhile, AutoX is accelerating testing in China and is planning to launch its own delivery robot in the first quarter of 2022.
Level 4 vehicles are already able to navigate and brake on their own, but they are still limited in what they can do. Level 5 cars will have full automation and can operate in any situation. However, it is important to note that level 4 and level 5 cars will be able to operate in different conditions and are still far from being ready for mass production.
Driverless cars are also expected to cut down on traffic tickets, which are already a major problem in cities. Millions of tickets are issued every year, and the average ticket costs $150. As such, autonomous vehicles may eliminate the need for private cars, which would increase the amount of disposable income available in urban centres.
Augmented reality
Augmented reality (AR) is a growing trend that lets people place images and information over their physical surroundings. It can be done with a tablet, smartphone, or wearable device. The information displayed can vary greatly, from virtual furniture placed in a room to local retail information projected on a street scene. It can even be used to provide instructions for a project.
With the rising popularity of AR technology, retailers are taking notice. A BRP survey from 2018 revealed that 32% of retailers plan to incorporate AR into their business in the next three years. For example, fashion and lifestyle brands are planning to use facial recognition technology, local lighting technology, and even virtual assistants to enhance their shopping experience. Another development in AR is smart glasses. Though consumer solutions are a few years away, smart glasses are already being used by enterprises.
The HoloLens 2 headset, recently announced by Microsoft, showcases the potential of augmented reality in the workplace. With this new technology, architects and 3D designers can create scale models and view them in an augmented reality environment. By incorporating augmented reality into their work, these professionals can see how their work will be done and improve their productivity.
Cloud services have made it possible to process, store, and analyse AR content. The cloud platforms store and deliver AR content on demand, eliminating the need for high-end on-device processing. However, there are some limitations. Network latency and distance from a remote server can inhibit the flow of content.
