We live in a world where technology is ever-changing and the kind of technology we use becomes obsolete in just a few years, for example- for a very long period it was audio cassettes that people use for listening to music, then it witnessed CD which was followed by downloading songs from various websites and sharing it through pen drives and Bluetooth devices. Today we stream them online and just leave them there.
Similarly, there is a variety of technologies that are bound to change in the future. Few of us might have had interactions with them already but the potential impact they are going to have on our future is unimaginable. The upcoming advancements won’t be limited to just one sector but would change almost all the things surrounding us. A future change in lifestyle is predicted courtesy of these technologies so without waiting much let’s look into the future tech that-
AI (artificial intelligence) is an umbrella term referring to the ability of a computer’s program or whole computer to act intelligently. AIs are developed in such a manner that can learn and capture data about its environment. They are even capable to adapt in a manner to achieve their goals. To create an AI system that adds value, large amounts of data and an algorithm that is appropriate for the system's goals are used. Following data consumption, the system can make decisions based on the knowledge it has accumulated. It is important to have a clear strategy for capturing data which serves as a basis for improving decision-making and provide greater insights and optimising the business processes. Machines' increasing ability to learn and act intelligently will bring huge changes in our world. It is also at the root of many of the other trends on this list.
Blockchain is a transactional database. Through this technology, all parties hold similar information about all the transactions that have happened throughout. Making changes to that database is not possible until the majority of the participants agree to it and change is in accordance with the given set of rules. Through blockchain technology, it is possible to carry out transactions safe and secure between multiple parties without any need of a third party to verify it. Today it is a very crucial part of the crypto world, helping to keep a record of monetary value transactions but it isn’t limited to just that. This technology is considered to be the next big thing for a variety of domains such as banking, insurance, consumer product, health, property, logistics, lotteries, voting, identity verification, welfare payments, job hunting, and even graphics rendering. This technology is currently in the budding stage and is expected to grow enormously in next coming years. As per reports, it is expected to provide $176 billion in value by 2025 and $3.1 trillion by 2030.
It is a process of manufacturing three-dimensional objects through a printer based on the specifications of a 3D model. An object is produced layer by layer rather than milling or turning larger objects down to the desired shape and this process is called additive. Production with a 3D printer is accomplished by printing an object in successive horizontal layers of materials such as plastic or metal until the object is fully produced. Each of these layers can be thought of as a thinly cut horizontal cross-section of the object under construction. This technology is expected to do wonders in production-based industries where it can help in cost reduction. This would also reduce the importance of storing parts and reduce lead time. The healthcare sector is also keeping an eye on 3D printing developments as it can also be used to produce artificial body parts.
Virtual reality has made it possible for users to interact with a computer-simulated recreation in a real environment. Augmented reality (AR) is a VR fusion in which reality and a computer-simulated environment are merged, as seen with Pokemon Go or Snapchat lenses. In the corporate world, this technology can be used in order to represent drawings and status information of equipment. VR and AR can be very useful in improving customer journeys and boost the speed of manual work. This technology is being used with a variety of industries and helping customers test a variety of equipment such as furniture, car, home decor, etc before purchasing them. It is extremely useful for teaching students in a more practical manner.
Automation and Robotics have been part of a long history and they in on a growing trajectory in a variety of domains, especially in physical work duties. A lot of companies are preferring robots and automation for the physical jobs that were earlier done by humans. Warehousing, logistics, and surveillance has witnessed maximum replacement while other sectors are also aiming to adopt robotics and automation. In some industries, the future of work will most likely involve humans collaborating with robot colleagues. Physical robots are capable of working around the clock and can deliver a high level of consistency. Businesses in a variety of industries are investigating how the use of robots can contribute to increased quality and delivery capacity at a lower cost.
So these are a few upcoming technologies that will surely be affecting our future. All of these won’t just be limited to one field but rather change how we do things today. Engineers and developers around the world are making efforts in order to bring in ease of living. For any company to strive in future, it is really important that they keep their eyes on developments not just in their field but all around. All these technological advancements are inter-linked and are meant to affect all the businesses around.
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