We are going to discuss the technologies and innovations that are on the verge of making a difference in society. Here are some technologies that are yet to be widespread but have been showing other signs of being ready to move to the next level.
ARTIFICIAL INTELLIGENCE (AI)
In simple words, AI is creating intelligent machines using computer science ideology. It emphasizes on giving machines access to objects, categories, properties, and relations between all of them to implement knowledge engineering, in order to make the machine work and act like human beings in every aspect. Apple's Siri can be taken as an example of AI. Some of the activities computers with artificial intelligence are designed for include:
- Speech recognition
Forrester has predicted that all the hype of AI will begin to fade and the world will see some actual work happening. As per a report by them, 70% of the enterprises plan to implement AI in 2018, rising up from 40% in 2016 and 51% in 2017. 20% of the enterprises will set up AI to provide some real-time instructions and make decisions e.g. Chat-bots for counseling with emotional intelligence will be developed in the next phase of AI which is all about transformation, reality, and implementation.
In simple words, Blockchain is a public ledger, accessible by everyone in the network. Harvard Business Review defines it as "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". Despite its nascent nature, it has quickly become very popular in the market. Undoubtedly, it is a promising technology carrying the strength to make changes in the Internet world. It is not just limited to the financial industry but has become a need of every industry involving online transactions.
Blockchains are secure by design and are an example of a distributed computing system with high fault tolerance. It facilitates secure online transactions and records them in the cryptographic (Secret Code) form. It is a decentralized and distributed digital ledger that records the transactions across many computers so that the record cannot be altered retroactively. The Blockchain technology runs on the principles of crypto-economics and has provided a platform for various cryptocurrencies like Bitcoin, Ethereum (ETH), Dash, Ripple (XRP), Monero (XMR), etc. The cryptocurrencies are also called "AltCoins"
BlockChain is ready to unleash its full potential in the coming years. It was the second-most frequently searched term on Gartner's website with a year-long increase in search volume vaulting up by 400%. Tech giant Deloitte in their big statement has forecasted that BlockChain might soon take over other emerging technologies such as Cloud Computing, Data Analytics, IoT in venture capital investment.
INTERNET OF THINGS (IoT)
IoT looked at as "Internet of Things" is a vast network of devices connected to the Internet. Almost anything with a sensor on its cars, machines in production plants, jet engines, oil drills, wearable devices, smartphones, tablets and more. These "things" exchange data among them and work based on certain protocols.
IoT has become the hot topic of conversation both in the workplace and outside. Currently, at a conceptual stage, it carries the potential to impact our lives and work at the same time. This concept is fascinating and looks simple to achieve but it involves lots of technical and policy-related protocols that yet to be clearly understood by the majority of the IT industry.
In laymen terms, this is the concept of basically connecting any device with an on and off switch to the Internet. This includes everything from cell phones, coffee makers, washing machines, headphones, lamps, wearable devices, a jet engine of an airplane or the drill of an oil rig and forth so. It is estimated that by the end of 2020 there will be over 26 billion or more connected devices. The IoT enables items to be detected or controlled remotely crosswise over existing system infrastructure, making open doors for a more straightforward combination of the physical world into PC based frameworks, and bringing about enhanced proficiency, precision and financial advantage notwithstanding lessened human intercession.
Big Data simply represents huge sets of data, both structured and unstructured, that can be further processed to extract information. Huge volumes of data in all kinds of formats over the internet every second. Businesses store that data to be analyzed later using tools increase the outcome and performance. Big Data can be structured or unstructured that can be further processed for analysis using Data Analysis. Big Data can be structured or unstructured that can be further processed for analysis using Data Analysis tools.
Big Data carry hidden patterns and algorithms which are unlocked by using various tools available in the market. These datasets are further analyzed to provide business insights. Where Big Data represents a large volume of data which is virtually impossible to process by just one machine regardless if the data is structured or unstructured. Cloud computing, on the other hand, is more than just an application that systematically not only stores data and programs using a network of remote servers over the internet but also provides services like SaaS, PaaS, and IaaS.
Big Data will encounter Big Changes and bring some drastic changes to established business models in the coming years. It will secure the businesses against data breaches and fraud by employing cognitive technologies to recover dark data. IDC reports estimate that big data and business analytics revenue will grow more than $203 billion by 2020.
Machine learning can be called a type of artificial intelligence (AI) allowing software applications to become better and more accurate in predicting outcomes without being specifically programmed. In reality, Machine Learning is a current application of AI-based on the idea that we should really just be able to give machines access to data and let them learn for themselves. The basic thesis behind machine learning is building algorithms that can receive input data and use statistical analysis to predict an output value within an acceptable range.
ML's algorithms are often categorized into Supervised or Unsupervised. Supervised algorithms require humans to provide both input and desired output along with providing feedback on the accuracy of predictions during training. Once training is complete, the algorithm will apply what was learned to new data.
Unsupervised algorithms are far more complex processing tasks than supervised algorithms. Unsupervised algorithms also do not need to be trained with desired outcome data. Instead, they use an iterative approach called deep learning to review data and arrive at conclusions.
Machine Learning is the basis for the most exciting careers in data analysis today. The models and methods used for MI can be applied to real-world situations ranging from identifying trending news topics to building recommendation engines, ranking sports teams and plotting the path of movie zombies. Methods include linear and logistic regression, support vector machines, tree classifiers, boosting, maximum likelihood and MAP inference, EM algorithm, hidden Markov models, Kalman filters, k-means, and Gaussian mixture models.
A glimpse of what ML technology can do:
For instance, ML applications can read the text and work out whether the person who wrote it is making a complaint or offering congratulations. They can also listen to a piece of music, decide whether it is likely to make someone happy or sad, and find other pieces of music to match the mood. In some cases, they can even compose their own music expressing the same themes, or which they know is likely to be appreciated by the admirers of the original piece.
5TH GENERATION NETWORK
After 4G's successful run, the latest technology going to rule the telecommunication world is 5G. The world will witness the revolution coming with 5G. According to a report by Qualcomm, 5G enabled smartphones are expected to arrive in 2019. 5G is likely to take things to a whole new level with approx. 10GB/s download speed, incredibly faster than 4G.
VIRTUAL REALITY (VR)
It engages users in a completely artificial digital world that is created by a computer. A user can walk, make movements in the most advanced version of VR. The digital world makes an impression of a real environment with its sound effect, motion effect, etc. A user can choose special hand controllers to enhance their VR experiences.
To get the real feel of virtual reality, you need to wear a special VR headset. Most of the VR headsets connect to a computer (Oculus Rift) or a gaming console like PlayStation VR. Google Cardboard is one of the most popular VR devices that works standalone. The standalone VR devices work in collaboration with smartphones so you just insert a smartphone, wear a headset, and immerse in the virtual reality.
Using Virtual Reality Technologies range from gaming to movies, to medicine, to healthcare, to travel and to sports.
AUGMENTED REALITY (AR)
It basically overlays virtual objects on the real-world environment. In actually amplifies reality. Users are still able to see and interact in the real environment while digital features are supplemented to it. You can easily test AR technology by downloading an AR app using your smart mobile phone. However, to get the full feel of AR you have to have exclusive headsets such as Google Glass, which display digital content on a tiny screen of your glass in front of your eyes.