As the world readies itself for the emerging tech trends, business enterprises have a long list of emerging technologies they might consider adopting in 2018. From Quantum computing to Distributed ledger technology, business enterprises are spoilt with choices for emerging technologies. Here are the top emerging technologies that will transform the world in 2018.
1. Computer Vision
Computer vision is a branch of computer science that makes computers to see, identify and process images in the same manner as a human vision will interpret. Computer Vision imparts human intelligence and interpretation to a computer and is closely linked with AI. Computer vision skills are deployed in robotics and automation technology. Prominent business enterprises using Computer Vision technology include Philips Healthcare (medical imaginary), Carl Zeiss (optics), Sony (gaming interface), NOKIA (3D Mapping technology), HP Labs (machine learning), among others.
2. Deep Learning
Deep Learning is another emerging trend and is a subfield of machine learning algorithm inspired by artificial neural networks. This emerging technology learns through an artificial neural network which acts like a human brain and interprets business problem just like a professional human mind would do. Deep learning algorithms do not need the assistance of a human programmer for data analysis and interpretation. Deep learning is applied to customer experience, language recognition, computer vision, sentiment bases news aggregation, robotics and many more. Deep learning is deployed by giants like Google, Facebook, Baidu, Amazon, Tesla, Twitter, Nvidia to drive innovation and improve customer experience.
3. Natural Language Generation
What if technology translates data into a written narrative? Surprised! That’s exactly what Natural Language generation (NLG) algorithms do. Wordsmith is a powerful natural language generation platform that collaborates with Zapier (a web-based service allowing end users to integrate hundreds of apps like Gmail, JIRA, Salesforce, Slack without writing any code) to write content based on data pulled from a cloud data source. You can publish Wordsmith’s content to dozens on your emails, WordPress and even chatbots. Natural Language Generation (NLG) is an emerging technology and is forecasted to be worth $825.3 million by 2023. NLG is being used by global business enterprises for writing real-time reports in finance and insurance domains.
4. Businesswide Networking Fabric
Networking fabric that is indispensable to any business organisation is the layout of how the computing, software components and networking of a data center integrate together to deliver IT services. In an organisation, networks can operate using a network fabric and SDN (software-defined network) protocols which together weave a network hardware, software, and other services connecting users, data, and applications together in sync with the business enterprise objectives and goals.
5. Distributed Ledger Technology
Distributed ledger technology, also known as DLT is a step beyond blockchain technology Distributed ledger technology is a digitally encrypted system that records the transfer and transaction of assets in multiple places at the same time. Traditional databases in use now, have a central data storage and administration while the emerging distributed ledger technology will not have any of them and will record both static data like a registry, and dynamic data, that include transactions. DLT is increasingly being adopted by financial bigwigs like JPMorgan and Australian Securities (ASIC).
6. Edge Computing
Edge is a buzzword in the IT terminology today. Edge computing is superfast computing that is done at or near the source of the data and does not rely on a data cloud to drive solutions contrary to what business enterprises do currently. Industry drivers of edge computing include your very own iPhone whose security and privacy features like storing the biometric information come with an end to end encryption. Google through its Google Clips camera, that promises to record clips when it sees something interesting saves all your data locally on your phone by default and does its magical AI inference locally not relying on its cloud servers, which is smart edge computing.
7. Quantum Computing
Quantum computing is an emerging technology based on the principles of the quantum theory. Quantum computers are based on qubits, which work closely with the two principles of quantum physics: superposition and Quantum entanglement. While Quantum computing is driving, IBM and Google to create the world’s first powerful quantum computer, The US, EU and China are fighting a bitter battle to win the Quantum computing race.
8. Serverless Computing
Serverless computing as the name suggests, allows you to build and run applications and services without thinking about servers. Through serverless computing, networking infrastructure and operating services are provided on cloud servers thus saving on costs and giving businesses a better software development environment. Amazon Web Services offers serverless computing through AWS Lambda and Amazon API Gateway interfaces.
9. Augmented, Virtual, and Mixed Reality
Augmented, virtual, and mixed reality have created much of a tech storm in the business diaspora making it easier for companies to visualize and market their products to a wider audience. Augmented, virtual, and mixed reality are not only deployed by the business industry but is also used in medical studies helping students with their study of anatomy. Other major users of this emerging technology include the gaming industry and the entertainment industry that drives huge revenues through the integration of augmented, virtual, and mixed reality to take its customer experience to new heights.
10. Digital Twin
Digital twin is another trendy concept that represents the convergence of physical and the virtual world. Digital twin technology is a dynamic digital representation of an industrial product, process, or service. Digital twin assists in the pairing of the virtual and physical world and allows data analysis and system monitoring to be future ready for problems before they even occur, develop new opportunities, prevent downtime, and even plan for the future by using simulations.