If there is, one area, which keeps evolving at an astronomical pace, it is technology. Companies are making rapid progress in innovations, conceptualizations, and product development.
In many ways, technological growth has become a race among different competitors. From a consumer point of view, we are willing to try out the best technologies and are ready to shell out a premium for the same.
The rise of ‘Tech-First’ companies has boomed given the advent of innovative startups who are pushing the boundaries. In this article, we are going to look at the technological age we are living in. We are also going to shed some light on the five hottest technological trends in the world.
Are we living through a new Industrial Revolution driven by Technology?
According to tech wizards and business analysts, the human race in 2020 is living through the 4th Industrial Revolution! It is essential that companies need to put their best foot forward when using technology. If they do not, they stand the risk of becoming redundant. You will find the industrial revolution, from a self empty robot vacuum to the AI-powered bot everywhere.
In most cases, success, balance sheets, and profits are all determined by how any organization is adapting to technology. Consumers too want to experience a feel-good factor about using the latest tech. As Apple has shown, users do not mind paying a premium if they feel they are using the best tech in the industry.
In the last few years, technology has made human lives easier, more convenient, and safer. From our home to our cars, everything is going digital in a major way. Computers, automation, cloud computing, connected tech, robotic automation, and new financial tech is leading the way.
Top 5 Technological Trends to watch out for: The List
1. Blockchain Technology-
If there is one major technological disruption from the past decade, it has to be cryptocurrencies and Blockchain technology. It is an immutable system of doing financial transactions in an easy, safe, and convenient manner. It is the transactional system at the base of cryptocurrencies and is being adapted in a major way by billion-dollar corporations in 2020. Innovating and investing in Blockchain and Bitcoin is drawing a lot of attention.
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2. Internet of Things (IoT)-
In the last few years, one word that has come to define technology is ‘Smart Tech’. Smart technologies are connected technologies, which talk among themselves by using the internet. Cars, home appliances, speakers, security systems can all connect with one another to offer you the best experience. IoT has come to define how we live our lives in the present. This is only going to increase in the near future.
The more we start using digital technologies and the internet, the more we stand the risk of exposing ourselves to cyber-attacks. This is why data privacy and security are going to be major areas, companies and individuals would need to focus on going forward. Installing the latest firewalls, security systems, and data storage facilities, governmental rules are going to define cybersecurity in the coming years.
4. Artificial Intelligence and Machine Learning-
If there is one technology, which has been able to become the defining tech of our times, it is AI and ML. In very simple words, AI is being heavily developed by companies to help customers experience when dealing with tech hardware and software. It is aimed at easing the user’s interaction with machines, understand and learn their behavior, and mimic the same. In other words, tech products are becoming more human.
5. Robotic Automation-
During the COVID-19 Pandemic, many businesses and companies have started using robots to cut human interactions. The use of robots in heavy-duty manufacturing was something, which was already being done in the auto industry, defense (drones), mining, and drilling facilities. However, it is no secret that automation is coming into our homes to help us with normal and day-to-day functionalities.
Technology is having a massive impact on the way we lead our lives. It is contributing to the economy, generating employment, making our lives safer and easier. Many experts feel that we are living through the golden age of technological innovation. Can you think of some other technological marvels we can add to the list? Let us know below.