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Technology Innovations That Will Revolutionize Our Future

Technology Innovations That Will Revolutionize Our Future

ICT | Aug, 2019

We have witnessed great leaps in technology in the last few years. With cryptocurrencies taking the world by storm to Apple launching wireless charging with iPhone X to 3D printed organ and Siri, Alexa, and what not. World is changing with each passing second and lines between artificial and natural are blurring by the day. Cloud computing, big data, artificial intelligence, blockchain, among others are transforming the way we live and defining new efficient ways to simplify work. Here’s the compiled list of few technologies that are disrupting and are the real game changers for the future.

  • Artificial intelligence (AI)

From Alexa, Siri to chatbots, artificial intelligence or AI has moved out of research labs and become a house-hold technology. The non-biological intelligence has been the dream of humans for a very long time. But, now artificial intelligence has penetrated almost every industry. Global artificial intelligence market was valued over USD 2288 million in 2018 and is poised to grow at CAGR of over 64% until 2022. 

The combination of natural language processing and machine learning, which are two branches of artificial intelligence can be used to interact with human users and enhance the capability of the devices so that they can learn and improve from the experiences without programming.

One of the major applications of such technology is chatbots, programs widely incorporated by companies to understand needs of customers and provide solutions based on their requests. E-commerce giants like amazon are leveraging the power of AI to deliver semantic results based on search history of the user. As the proliferation of devices based on AI increases, need for managing and supporting the functionality of these devices will increase, resulting in creation of more job opportunities in the next five to ten years.

According to World Economic Forum, Artificial Intelligence is anticipated to create 58 million jobs by 2022 and machine automation is expected to account for 52% share in 2025, up from 29% in 2018.

  • Internet of Things (IoT)

Physical devices present around us are part of a large network called IoT, collecting and sharing data. These connected devices or things gather information in real time to streamline operations or improve functionality.

The existing network of connected devices in 2018 was over 23 Billion, which is already triple the current global population, and the number is anticipated to cross mark of 30 Billion by 2020.