Technology binds everyone from every part of the world. Read, latest technology trends of the next decade that will change the life of everyone from household, academy, business, industries and so on.
In this digital world, technology is the game changer in all sectors. Technology drives the business, career, academic, retail and the consumer market. Technology has always taken a major role in the life of every individual person. Whether it’s Android mobile or 4G networks, this is the technology which decides the lifestyle of every common person! The speed of technology is so strong that within a short span of time it drastically changes the vision of business, industries, schools, colleges and every household in village, wontedly or unwontedly!!!!
So before the arrival of the New Year 2021,”YouAware” aware you of the future technology which will impact the life of every individual starting from an entrepreneur, industrialist, business person, academician, student and householders…
1. 5G (5th Generation Mobile Network):
After 4G, now globally 5G has been introduced in the market. 5G wireless technology is going to be the future of communication. It is designed to overcome the major issues in 4G i.e. congestion, latency, speed and reliability.
5G delivers higher multi-Gbps peak data speeds, ultra low latency, more reliability, massive network capacity, increased availability, and a more uniform user experience to more users. With a data rate of up to 10 Gbps, 5G will bring a 10 times to 100 times improvement over the existing 4G LTE technology.
The launch of 5G is great news for the IOT markets. 5G networks will go a long way towards improving the performance and reliability of these connected devices with its super fast data transfer speed.
According to Vodafone, 5G promises device speeds around 10 times faster than 4G, meaning high-quality, ultra-high resolution 4K video calls - the standard used for commercial digital cinema - downloads will be delivered even quicker to smart phones and tablets. Data transfer of less than 20 milliseconds will be standard.
And with the rapid digitalization in every sector due to the corona pandemic, now 5G networks is the most demanding technology, for everyone to stay connected and provide the uninterrupted digital service, in any crisis.
2. Internet of Things:
Over the past few years, IoT has become one of the most important technologies of the 21st century. Now that we can connect everyday objects—kitchen appliances, cars, thermostats, baby monitors—to the internet via embedded devices, seamless communication is possible between people, processes, and things.
What is IOT?
The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
Industrial IOT:
Industrial IoT (IIoT) refers to the application of IoT technology in industrial settings, especially with respect to instrumentation and control of sensors and devices that engage cloud technologies. IIoT is sometimes called the fourth wave of the industrial revolution.
Application of IoT:
Smart cities
Smart manufacturing
Preventive and predictive maintenance
Smart power grids
Connected and smart logistics
Smart digital supply chains
Tech analyst company IDC predicts that in total there will be 41.6 billion connected IoT devices by 2025, or "things." It also suggests industrial and automotive equipment represent the largest opportunity of connected "things,", but it also sees strong adoption of smart home and wearable devices in the near term.
3. Edge Computing:
The explosive growth of internet-connected devices – the IOT – along with new applications that require real-time computing power, continues to drive edge-computing systems.
What is Edge Computing?
Edge Computing (EC) is an emerging technology that has made it possible to process the large volume of data generated by devices connected to the Internet, through the Internet of objects (IO). It allows for computation to be performed at the network edge so that computing happens near data sources.
Innovative Application of Edge Computing:
Edge Computing covers a wide scope of technologies, for example, Remote Sensor Systems, Circulated Information stockpiling, Augmented Reality and the sky’s the limit from there. Below are listed some of the innovative applications of Edge Computing-
Edge Video Orchestration
Grid Edge Control and Analysis
AI Virtual Assistant
AR Edge Computing
Smart Cities
Faster networking technologies, such as 5G wireless, are allowing for edge computing systems to accelerate the creation or support of real-time applications, such as video processing and analytics, self-driving cars, artificial intelligence and robotics, to name a few.
4. Artificial Intelligence:
Artificial Intelligence is virtually impacting the future of every industry and every human being. Artificial intelligence has acted as the main driver of emerging technologies like Big data, robotics and IOT, and it will continue to act as technological innovator for the foreseeable future.
What is Artificial Intelligence?
AI traditionally refers to an artificial creation of human-like intelligence that can learn, reason, plan, perceive, or process natural language. But AI has the potential to vastly change the way that humans interact, not only with the digital world, but also with each other, through their work and through other socio-economic institutions – for better or for worse.
Recent Use of AI:
· Email filtering: Email services use artificial intelligence to filter incoming emails. Users can train their spam filters by marking emails as “spam”.
· Personalization: Online services use artificial intelligence to personalize your experience. Services, like Amazon or Netflix, “learn” from your previous purchases and the purchases of other users in order to recommend relevant content for you.
· Fraud detection: Banks use artificial intelligence to determine if there is strange activity on your account. Unexpected activity, such as foreign transactions, could be flagged by the algorithm.
· Speech recognition: Applications use artificial intelligence to optimize speech recognition functions. Examples include intelligent personal assistants, e.g. Amazon’s “Alexa” or Apple’s “Siri”.
Industry investments in AI are rapidly increasing and governments are trying to understand what the technology could mean for their citizens. Applications based on AI are already visible in healthcare diagnostics, targeted treatment, transportation, public safety, service robots, education and entertainment, but will be applied in more fields in the coming years.
5. Augmented Reality & Virtual Reality:
Augmented reality (AR) is one of the biggest technology trends right now, and it’s only going to get bigger as AR ready smartphones and other devices become more accessible around the world. AR let us see the real-life environment right in front of us—trees swaying in the park, dogs chasing balls, kids playing soccer—with a digital augmentation overlaid on it.
What is Augmented Reality?
Augmented reality (AR) is an interactive experience of a real-world environment where the objects that reside in the real world are enhanced by computer-generated perceptual information, sometimes across multiple sensory modalities, including visual, auditory, haptic, somatosensory and olfactory. AR can be defined as a system that fulfills three basic features: a combination of real and virtual worlds, real-time interaction, and accurate 3D registration of virtual and real objects.
Application of Augmented Reality:
Augmented Reality (AR) is emerging as one of the key drivers of the tech economy. From education to remote work, AR technologies that are set to emerge in the near future in following fields:
Ø Medical Training
Ø Retail
Ø Repair & Maintenance
Ø Design & Modeling
Ø Business Logistics
Ø Tourism Industry
Ø Classroom Education
Ø Entertainment Properties
Ø Public Safety
Virtual Reality:
Virtual Reality (VR) is the use of computer technology to create a simulated environment. Unlike traditional user interfaces, VR places the user inside an experience. Instead of viewing a screen in front of them, users are immersed and able to interact with 3D worlds. By simulating as many senses as possible, such as vision, hearing, touch, even smell, the computer is transformed into a gatekeeper to this artificial world.
Uses of Virtual Reality:
Ø Dinning
Ø Medicine
Ø The Media
Ø Education
Ø Entertainment
Ø Architecture
Ø Industry
Ø Culture /Art
Ø Military
According to the latest forecast from IDC research (2018), investment in VR and AR will multiply 21 folds over next year, reaching 15.5 billion euro by 2022.
6. Blockchain Technology:
Blockchain Technology has entered the market in year 2009 with the advent of Crypto currency “Bitcoin”. It is actually the blockchain technology which powers bitcoin. Though the demand of “Bitcoin” has slowly become down but the blockchain technology” has gained wide attention in all Enterprise sectors such as
Ø Capital Market
Ø Asset Management
Ø Decentralized Finance
Ø Global Trade and Commerce
Ø Payment and Money
Ø Real Estate
What is Blockchain Technology?
In blockchain technology, there will be no centralized database or centralized authority to maintain the ledger. Rather it’s a distributed ledger where everyone keeps a copy of ledger.
A blockchain uses a distributed network of nodes that is decentralized. Decentralization means that all nodes on the network store a copy of the blockchain. The nodes either store a full copy (full nodes) of the blockchain or perform mining operations or they can do both.
Advantage of Blockchain Technology:
The advantage of the technology is that the data added to the database cannot be deleted or changed by one user without displaying the changes to all the other owners. All changes are fixed; you cannot hide any operations. These properties make blockchain the most important tool available for exchanging data and protecting information.
The benefits of blockchain are attractive to businesses. According to a study from PwC that polled 600 executives across the globe, 84% of respondents said they already use blockchain in their organization. In addition, 10% to 20% of the global economic infrastructure could operate based on blockchain. According to forecasts made by analytical agency Gartner, by 2030, the blockchain solutions market will be worth about $3.1 trillion.
7. Cyber Security:
The global cyber threat continues to evolve at a rapid pace, with a rising number of data breaches each year. With the scale of the cyber threat set to continue to rise, the International Data Corporation predicts that worldwide spending on cyber-security solutions will reach a massive $133.7 billion by 2022.
Organizations around the globe are investing heavily in information technology (IT) cyber security capabilities to protect their critical assets. Whether an enterprise needs to protect a brand, intellectual capital, and customer information or provide controls for critical infrastructure, the means for incident detection and response to protecting organizational interests have three common elements: people, processes, and technology.
The term applies in a variety of contexts, from business to mobile computing, and can be divided into a few common categories.
· Network security
· Application security
· Information security
· Operational security
· Disaster recovery and business continuity
· End-user education
8. Big Data:
Global data started is growing exponentially mainly via the internet, including social networks, web search requests, text messages, and media files. The statistic shows that 500+terabytes of new data get ingested into the databases of social media site Facebook, every day. This data is mainly generated in terms of photo and video uploads, message exchanges, putting comments etc.
The New York Stock Exchange generates about one terabyte of new trade data per day.
Another gigantic share of data is created by IoT devices and sensors. They are the key drivers for the global big data market growth, which has already has reached 49 billion dollars in size, according to Statista. The world is powered by big data now forcing companies to seek experts in big data consulting, capable to harness complex data processing.
Industry influencers, academicians, and other prominent stakeholders certainly agree that Big Data has become a big game-changer in most industry such as
Ø Banking and Security Industry
Ø Communication, Media and Entertainment Industry
Ø HealthCare Industry
Ø Education Industry
Ø Manufacturing and Natural Resource
Ø Government
Ø Insurance
Ø Retail and Wholesale Industry
Ø Transportation
Ø Energy and Utilities
9. Digital Transformation:
Digital transformation is changing the way business gets done and, in some cases, creating entirely new classes of businesses. With digital transformation, companies are taking a step back and revisiting everything they do, from internal systems to customer interactions both online and in person.
Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It's also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure. Digital transformation is imperative for all businesses, from the small to the big enterprise.
Key Trends in Digital Transformation:
Ø Connecting and Personalizing the customer experience
Ø Unlocking and Analyzing Data for Data driven business
Ø Maximizing the value of AI and Machine Learning
Ø Developing a multi cloud strategy
Ø Fueling business performance with APIs
Although digital transformation will vary widely based on organization's specific challenges and demands, there are a few constants and common themes among existing case studies and published frameworks that all business and technology leaders should consider as they embark on digital transformation.
For instance, these digital transformation elements are often cited:
Ø Customer experience
Ø Operational agility
Ø Culture and leadership
Ø Workforce enablement
Ø Digital technology integration
10. Digital Payment:
The ongoing digital payment has disrupted the banking and card industry. The digital payment market is expected to reach $7.6 trillion by 2024.
Equipped with high processing powers, substantial memory, high resolution cameras, GPS, barcode scanners and NFC based technologies; these smartphones are powerful enablers for digital payment systems. Along with it, distributed ledger technology (DLT) powering cryptocurrencies, Internet of Things (IoT) backed device automated payments, APIs, point of sale (POS), mobile wallets, tokenization is digitally integrating every industry with the payments landscape to create a seamless payments ecosystem.
The concept of paying using cash, cheque, debit or credit card is off lately becoming outdated. The new payment mechanism which involves payment for a transaction using the mobile wallet or mobile money transfer is gaining momentum.
Popular online payment apps or payment apps or e wallet list in India include: Paytm, Google Pay, Amazon Pay, JIO Money, Freecharge, Yono SBI, Airtel Money, Ola money PhonePe, MSwipe, Axis Bank Lime, PayUmoney, ICICI Pockets Citrus and so on.
End of the Line:
Technology is a boon for human civilization. Recently in the corona pandemic, it’s the technology which enabled people to stay connected online, conducted online classes for students, and regulated the business process and so on. Technology is the major global economy booster and also creates huge employment opportunities. Technology always address the pain point of common people and lessens the burden of human life by providing the essential service at the doorstep. Though many debates rose on the disadvantage of technology but at the end of the day it always depends on the human being, how they are going to use the technology in constructive way.
Now it’s the peak time for us to stay updated with the latest technologies and experience the next unfold digital dimension of technology in the real world.
Please share it, so that maximum people can be aware.
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