The pace at which technology is evolving in this 21st century is mind-blowing. It could be a herculean task catching up with all the trends as they seem to be evolving at lightspeed. Especially for those who just newly started getting interested into those subjects.
Among top technologies that have gained huge attention and recognition in the past and present decade; Blockchain, AI, Quantum and 5G technologies seem to be erupting in a more disruptive manner. Today I’ve decided to take an in-depth look at each of these technologies.
The technologies are leading the way for industry 4.0. They are attempting to bridge the gap between work inefficiencies and bloated workforce, and ultimately making life easier for everyone. It provides industries with the needed competitive edge.
These cutting-edge technologies are what is needed to streamline work processes, create unimaginable synergies and solve real-time problems. This is true to the extent at which you are able to leverage these technologies to build your businesses or use these technologies in your day to day business. Most beneficially they surely will be used in big industries and the government sector. Probably to a point where these technologies can start to become scary and shall not be tolerated, but that is another subject to separately write about.
The uniqueness of these technologies is that they enact on data in different ways, the possibilities are endless when two or more of these technologies are combined.
1) Blockchain
Many people think about blockchain technology with regard to cryptocurrencies like Bitcoin. Blockchain, however, has found increasing use-cases across various industries. It has seen wide range applications across most industries where security and privacy are of utmost importance, thanks to blockchain immutability and tamper-proof ledger.
The positive impact of blockchain has been felt in almost all spheres of human endeavors. Even though blockchain is more pronounced in the financial and service payment sector, its impact, however, is fast rising in other sectors such as healthcare, supply chain, security, politics, real estate, legal industry, education, etc.
Blockchain is the most innovative technology of the present decade because of its promise of financial bureaucracy. Blockchain transparency has the potential of reducing the degree of fraudulent practices, data reveals that banks and other financial institutions lose close to $4 trillion to cyber-theft every year. Blockchain has the potentials to put an end to this.
Blockchain-related jobs have also been identified as the second-fastest growing category of jobs, with over 14 job openings for every one blockchain developer. Picking up a career in this sector looks very lucrative. It was estimated that global business value will rise to $3.1 trillion in 2030 as a result of the implementation of blockchain technology.
Businesses that fail to embrace this technology might stand the risk of becoming redundant. Using blockchain can have just unlimited scenarios and advantages if applied right, the most important problem which a blockchain can solve is the issue of trust.
2) Artificial Intelligence (AI)
Artificial Intelligence is the simulation of a human-like intelligence through computer systems. Usually, these computer systems are programmed in a way to mimic human-like actions. Due to the complex nature of human activities, the simulation process is nevertheless complicated as well.
Since the AI technology came to limelight, it has been breaking new grounds in almost all areas of human endeavors. A lot of speculations have it that AI will seize a larger part of the workforce, help entrepreneurs cut costs, and automate business processes. In some big industries AI is already fully operating and making its limited, but super accurate decisions.
Recent AI developments have contributed to major advancements in the world of medicine. In medicine, Artificial intelligence will be able to improve cancer diagnosis and prevent around 22,000 deaths a year by 2033.
In business, AI is aiding managers in business analytics and faster decision making. AI is also touching base with the professional and corporate workforce through the automation of business processes.
PwC predicts that by 2030 AI will rake in about $15.7 trillion to the world economy, causing world GDP to shoot up by 14%. It will achieve these feet by ultimately improving business processes, cutting down cost and increasing work efficiency. Canadian Genius Entrepreneur Geordie Rose who is the founder of Kindred AI believes that by 2030 AI will be more intelligent than all of us humans. He goes that far that he says that a super-smart AI can be seen like another entity, like a kind of a digital species or in his words like a super-intelligent Alien. A very informative Youtube Video where Geordie talks to students in a Vancouver university with the target of recruiting some geniuses.
3) 5G Technology
A 4G enabled-device will let you download a 2-hour video in 3 minutes, with a 5G device, you will do the same in just 3 seconds. However, this technology is not just about downloading movies.
When 5G rolls out more widely in the coming years, it will accelerate the production of more sophisticated applications to address problems and improve industry-wide innovations. This technology is poised to provide wireless communication at the speed and latency required for complex applications in IoT devices.
When globally implemented, 5G can enable emerging markets to reach the same pace of operation as their already established counterparts. Service providers creating 5G-based solutions for business-specific applications will then have valuable advantage early-adoption.
Telecom networks such as Qualcomm, Huawei, AT&T, Verizon, and Nokia are competing on who will lead the pace of 5G development.
There are lot of conspiracies with health issues about 5G and recently seen videos of people damaging the 5G Antennas.
4) Quantum Technology
Quantum technology encompasses far more than just quantum computing, this is going to become the next wave of superfast personal and commercial computers.
Nonetheless, the broader category of quantum innovations exploits the strange behavior of small particles for a wide range of applications, including navigation aids, advanced imaging technology, and extremely accurate timing systems.
This technology has also found increased applications in communication, cryptography, sensors, and measurement instruments. Businesses within this space will be looking at adopting quantum technology to transform the way they enact on objects.
IBM explains in this wonderful 4-minute video what exactly the difference is between the normal ways of binary computing and the advanced way of computing with qubits and how they exactly work to solve a calculation.
2020 Looks Promising
The pace of the emergence of new technologies is leading the 21st-century innovation and creating myriad opportunities for businesses to expand and enhance service delivery at the ideal time. These four technologies are certainly taking the lead in providing endless benefits both in the short and the long run. Watch out, keep researching and stay tuned.
Matthias Mende