If you’ve been keeping up with the latest technology headlines, such as artificial intelligence, you’re aware that developing technologies are transforming the way we work and interact with others. Indeed, with technologies such as machine learning and touch commerce becoming increasingly popular across industries ranging from banking to healthcare, technology is transforming the way we do business and integrating high-tech techniques into our daily lives.
Here are the top five technology trends you should be aware of if you work in any field.
The Internet of Things (IoT)
The Internet of Things is one of the most momentous technological trends to emerge in recent years. Simply saying, the Internet of Things (abbreviated IoT) is the idea that all technical items can be connected to the internet and one another to achieve the ideal marriage of the physical and digital worlds. What effect will this have on you? It is determined by your industry. IoT, for example, might supply a plethora of information on how consumers connect with items by tracking their interactions with digital devices to people working in marketing, advertising, media, or company management. In turn, this information could be utilised to improve marketing campaigns and user experiences.
How it affects industries: The great thing about IoT is that it is transforming not only the way we do business but also the business models we employ to achieve it. For instance, Pay-per-use strategy are growing increasingly popular across all industries as new customer data becomes available.
Machine learning, which is essentially a computer’s ability to learn on its own by analysing data and identifying recurrent patterns, is another interesting growing technology. Social media sites, for example, employ machine learning to gain a better knowledge of how you’re related to individuals in your social network. They accomplish this by evaluating your likes, shares, and comments and then prioritising information from your closest relationships and serving it to you first.
How it affects industries: Machine learning is transforming the way organisations do business with customers, in addition to shaping your day-to-day interactions with pals on social media. Companies such as Google are utilising machine learning on mobile devices, which can continue to learn even when the device is turned off. As a result, Machine learning is significantly altering the way organisations connect with their clients by allowing them to predict and meet their demands more readily.
Virtual reality (VR)
Remember seeing movies about virtual reality and thinking how wonderful it would be if it existed in real life? It’s about to happen. Although virtual reality (VR) has been present since the 1950s, it has only lately been able to provide the fully immersive digital experience that users have been demanding. With recent advancements in both technology and programming, this is set to change, and the implications will be seen throughout practically every industry, from retail to education.
How it is affecting industries: For several years, virtual reality has been a popular component of video games, and this trend is expected to continue. In addition to video games, VR is anticipated to have a broad impact on businesses as they use the technology to better engage customers and maximise sales and marketing activities. It’s also a potentially valuable learning tool, and educational institutions are increasingly adopting it.
The ability to buy everything you desire with the touch of a finger may have seemed like a pipe dream a few years ago, but it is now a reality. Touch commerce, which combines touchscreen technology with one-click purchasing, enables users to purchase things directly from their phones. Customers may use their fingerprint to buy everything from apparel to furniture after attaching their payment details to a general account and enabling the feature.
How it is influencing various industries: This is one of the most significant developments in eCommerce in recent years, with purchases of this sort predicted to climb by 150 per cent this year alone, and businesses in practically every industry expecting revenues to increase.
Cognitive technology is similar to machine learning and virtual reality, but it is a larger notion. Natural language processing (NLP) and speech recognition, for example, are within the cognitive technology umbrella. When these many technologies are combined, they are capable of automating and optimising a wide range of formerly manual operations, including aspects of accounting and analytics.
How it will influence industries: Although cognitive technologies have a wide range of applications, the software sector will be one of the first to be impacted by this trend. The automated analysis of user data and experiences will play a role.
With evolving technology transforming professional areas like finance, eCommerce, healthcare, and education, staying current on the latest developments can provide you with a deeper grasp of your chosen industry and make you a more competitive candidate. Best of all, this knowledge may lead to new opportunities in your field and others.