The last ten years have seen a remarkable change, as technology continues to evolve at a frantic rate. It is growing exponentially and advancing, and now changing how businesses are being run and managed, as well as changing major processes in everyday human life. These changes will only continue further still – so what have been some of the top enterprise technologies that have been behind the drive of economic growth in the last decade?
AI – Artificial Intelligence
One of the biggest to have emerged is Artificial Intelligence. It continues to become more intelligent year on year and is being implemented into everyday activity. Large tech firms have adopted and embraced the concept, with Google’s algorithm, and Microsoft’s AI and machine learning being two of the largest adopters. In fact, AI is predicted to be intelligent enough to sit at a director level by 2026 – although there are some sectors where, arguably, it is touching that level already. Forex trading is a good example – an industry where estimates show that around $5.3 trillion is traded daily, and one that is worth in excess of $1.9 quadrillion. As top forex brokers claim, the enormity of the market is such that there are a number of key players – banks (both central Government, and otherwise), large companies, individuals and retail forex traders are all involved – and many of these utilize AI to minimalize the risk of failure. In fact, recent estimates have shown that 90% of successful Forex traders are adopters and have successfully made money as a result. Vast quantities of data can be analyzed in an instant, ensuring that trading decisions can be made instantaneously, and without delay.
IoT – Internet of Things
The internet of things is a high-tech advancement that works by the interconnection of computing devices through the internet. These objects then help with everyday life and are used in both homes and offices. The products also don’t require human to human or human to computer interaction. Many of the products are better known as ‘Smart devices’, which includes the likes of smart thermostats and lights. These products all help with the efficiency of the running of a home and have been produced to help with everyday life. In the near future, we are also likely to see the emergence of smart clothing and even sidewalks, as the IoT options become ever more prevalent.
Smart robotics has also seen major growth over the last few years. They have seen significant integration into various industries, perhaps none more so than manufacturing. These could yet impact the need for humans to work, as they can undertake the jobs at a much greater rate. Smart robots are also becoming more sophisticated and will be used more to improve labor – emitting a human error and driving a more process refined approach.
3D Printing is something that may be more of a household term than the other technologies discussed, as it is already beginning to become a key component in an array of industries. One of the major sectors to embrace it, is medicine and 3D bioprinting. It is believed this will have grown to a value of $6 billion by 2024 as a result of the technological advancements aforementioned. 3D bio-printing works by combining cells, growth factors and biomaterials in order to build biomedical parts.
Blockchain is a development that is playing more of a role in investment, including the adoption of cryptography. It is also likely to play a role in other fields moving forward and has even been used successfully as a means of identification. Blockchain is described by Investopedia as ‘a chain of blocks which are made up of digital pieces of information.’ The data contained within these blocks incorporates an array of areas, including information about a transaction (date, time, monetary value and so forth), who is involved within that transaction, as well as a distinguishing factor that enables each block to be uniquely identified. Microsoft is a core adopter of the technology, creating digital ID’s within its main Authenticator. Ultimately, this is used as a way for their users to establish and maintain control of their own digital identities.
Mixed Reality VR/AR – Virtual Reality/Augmented Reality
Mixed reality is becoming ever more sophisticated in everyday life. The best, and perhaps most common, example of it being used is in gaming and VR headsets. Mixed reality works by merging real and virtual worlds to create a new visualization or world. This is where both physical and digital objects co-exist and create something new. A further example of its usage in the working environment is with a smart construction helmet. This works by taking in information on the site and then relaying this to other members of the team who are wearing another helmet. It can help to speed up processes and take away the potential element of risk of injury on site. It helps with the efficiency of working life and is an area of technology that has been greatly explored by some of the world’s leading and largest tech firms.
Whilst many of the aforementioned may not be household terms in their current, one should expect this to change drastically. As their capabilities grow over the course of time, expect to see a direct correlation with their implementation in businesses and with individuals, across the globe. The future looks bright.