Technology is quite interesting. In fact, its entire ecosystem is fascinating. It is constantly evolving and numerous breakthroughs are being made each year. The year 2023 is no stranger to such. There is always some exciting technology coming around from some corner or someplace. That very tech transforms communication, life, and work.
Why does new technology emerge each new day?
New technology emerges each day nowadays. It helps make life easy, modern and improved for everyone. The rate of technological advancement is exponential. Business entities and companies alike need to take notice. Newer technologies help in reducing expenses, improving customer experience, and boosting profits.
Emerging trends in technology – which ones should companies look out for?
From AI and automation to the metaverse via blockchain and many others, the list is immense. Yet it is worth looking at. This post is interesting as it will explore a wide array of technology trends. These very trends have potentially been transforming life as we know it. Hence let us now look at each of these trends carefully:
Artificial Intelligence is everywhere
Artificial intelligence is becoming a real thing across many organizations. No code AI is becoming a real thing due to its easy drag-and-drop interface. It has enabled businesses to influence coding and create intelligent products and services.
Everyone is seeing this trend seize the retail market. Stitch Fix utilizes AI-enabled algorithms in recommending clothes to customers. This helps in matching their sizes, preferences, and tastes. Autonomous and contactless shopping and delivery are becoming a hit. AI is to be thanked for this. Consumers find it easy to make payments for receiving the goods/services they ordered online.
AI will also be augmenting almost every job in every industrial sector. Retailers will be using it to manage and automate complex processes at the back end (especially inventory management). It will pave the way for the following standards:
- Buy-online then pickup-at-curbside (abbreviated as BOPAC).
- Buy online and then pickup-in-store (abbreviated as BOPIS).
- First, buy it online and then return it to the store (abbreviated as BORIS).
Who can ever overlook Robotic Process Automation (RPA)?
Robotic Process Automation (RPA) uses an array of apps and software for automating business processes. Among them are:
- Data collection and analyses.
- Customer support and service.
- Manual business processes.
- Document organization and compilation.
RPA can complete a wide array of redundant and repetitive tasks. Just like AI and Machine learning, it is a quickly advancing futuristic technology automating numerous jobs across various industries. Numerous Research companies have analyzed that less than 5% of jobs today are fully automated. Yet, nearly 60% of them can be automated partially.
Robotic Process Automation is worth the investment. It offers new options for careers. Furthermore, it improves the trajectories of the following designations:
- Project managers
- Business Analysts
It opens doors for tech graduates in lucrative careers having a moderate learning curve. Numerous leading companies are embracing it. Those who select it for their careers can profit immensely.
5G – evolving to become better than ever
5G Technology is the fifth generation of wireless tech. It helps internet speeds become faster and improves connectivity. 5G will be used in manufacturing, logistics, telecoms, and healthcare. It will enable companies to transmit data in real time. Moreover, it will also lead to the creation of newer products and services, especially autonomous vehicles and remote surgery.
Who can forget cloud computing?
Cloud computing enables users to access computing resources like software, servers, and storage. It is dependent on the internet. Moreover, it will be used in the healthcare, finance, and logistics industries. It can even help organizations:
- Reduce Expenses.
- Raise their scalability.
- Improve their efficiency.
Cloud computing helps enable organizations to create new and innovative products/services. One of them is quite popular, namely Cloud-based software, and Platform as a Service (PaaS). A trend worth noticing is the rising popularity of hybrid cloud solutions. They combine both public and private cloud services. This in turn produces more flexibility, scalability, and cost optimization.
An advantage of hybrid cloud solutions is that it enables organizations to take advantage of both public and private clouds. It also addresses specific business needs and specifications at the same time. Serverless computing and containerization are new cloud-native technologies. They are developing and improving this year.
These technologies help developers make and deploy applications efficiently and faster without any complicated infrastructure management. Hosting companies plan to offer dedicated server hosting through cloud computing.
No one should take cybersecurity for granted
Cyber Security is not just a technological trend. It is important all the time. Finance, Healthcare, and Logistics are the industries benefitting the most. Companies there can protect their data, network, and shipments from cyber-attacks. It will further help them enable companies to follow key regulations and standards, especially the GDPR and HIPAA.
Quantum Computing is making strides
Quantum computing uses quantum mechanics to conduct complicated calculations. Finance, healthcare, and logistics are the industries that are forerunning for their usage. It can help them solve complex real-time calculations. Quantum computing also enables companies to make new products and services, especially quantum-based cryptography and machine learning.
Despite its promise, quantum computing faces numerous practical and technical challenges. The stability and scalability of quantum systems are one. This is why algorithms were developed to utilize qubits. Quantum computing is a rapidly evolving technology. It has attracted significant interest for investment in it from both academia and technology.
Blockchain is also worth remembering
Cryptocurrency like Bitcoin helped Blockchain become popular. It provides the much-needed security that can be quite useful. Blockchain is the data that users can only add to, instead of changing or removing. The outcome is numerous data sections forming a chain (hence blockchain).
The fact that existing data can neither be changed nor removed makes Blockchain a very secure technology. It is driven by consensus. Meaning no single individual or company can control or manipulate data. No third-party companies are required to monitor transactions.
As more industries are adopting blockchain, the demand for skilled developers is rising. Each company needs blockchain developers with hands-on experience in the following areas:
- The Necessary Programming Languages.
- Knowledge of OOPS.
- Knowledge of flat and relational databases.
- Data structures.
- Web Application Development.
Zero trust security is worth knowing about
It is a cybersecurity model requiring all devices and users to be authorized and authenticated before they access a network. A lot of companies across various industries are already using Zero trust security. It will help them create secure and transparent networks.
Zero Trust Security can help companies avert cyber-attacks. It is also known to help curtail data breaches by a large margin. This will help them buy VPS servers with relative ease.
2023 may be the year of layoffs. But it is also becoming the year of technological innovations. It is becoming more interesting as technologies emerging are being fine-tuned. These technologies are ensured to be more secure and user-friendly.
These emerging technologies are trendy. They are helping various companies across various industries improve their processes. This helps them overcome competition. The technology used right can help companies do wonders. Emerging technologies can certainly prove that. Time will also help prove that technology can help humans, not replace them.