Emerging technologies are not just emerging anymore, they have arrived and created quite a stir! Internet of Things, Machine learning, Augmented and Virtual reality, Natural Language Processing are few. However, their rapid growth, consistent presence, and great potential have led them to pass the stage of emerging technologies.
To survive in this competitive world, up-scaling oneself is the need of the hour. Here are the 10 trending technologies, which are expected to acquire a huge market in 2019 and beyond.
Artificial Intelligence (AI)
Most of us are wondering about what is next for AI in 2019 leading up to 2020. Industries have witnessed the rise of applied AI. Early adopters have revamped their AI investments, and have launched more initiatives, and reaped positive returns. Into Artificial Intelligence, the top 10 trends include Legal accountability, Governance frameworks, Reinforcement learning, and Ethics in AI.
Quantum computers deploy quantum physics to compute calculations at a faster pace than any supercomputers today. Unlike the bits and bytes of information stored and dealt with currently, Quantum Computers use qubits (Quantum bits) to store the humongous information that streams live.
Technology has moved further than challenging quantum computing and maintaining the balance between the qubits or removing the unnecessary and noisy computations. The coming years will see more research on quantum computers and how to devise strategies in a bid to reduce the error rates to make meaningful computations possible.
Blockchain brings transparency to decisions, something that is required at an urgent pace in this fast-moving competitive world. This is one of the reasons that blockchain has the potential to stand tall in the list of the trending technologies in not only 2019, but for many years beyond.
Blockchain will make global expansion easier and more secure across the world, as it is quite challenging to expand businesses into unknown regions. The security aspect of blockchain is highlighted by the fact that organizations will be able to seamlessly work and transact with unknown parties without the need for a third party. Blockchain today is utilized to streamline the complex management process, implement transparent and secure channels, lower costs, increase the cash flow and prevent hacks and data leaks. In addition, blockchain also ensures the rapid growth of various industries which include real estate, government, healthcare, manufacturing, legal, banking, etc.
Virtual Reality (VR) and Augmented Reality (AR)
Virtual reality and Augmented reality combined with artificial intelligence and automation have redefined the technology world. Virtual reality offers an opportunity for humans a complete computerized digital world experience while augmented reality technology builds computer graphics viewable in a normal environment. Both these technologies are being used and adapted across industries for multiple purposes which include entertainment, manufacturing, distribution and others. The application of VR and AR can be witnessed with its applicability where renowned online furniture selling business adopted augmented reality assisting shoppers to visualize how a particular piece of furniture or a decorative item looks like in their home space without having to actually buy or visit the store in person.
In today’s dynamic environment, augmented reality and virtual reality will correspond to be more sophisticated, creative and more powerful driving business revenues in no way or the other.
Internet of Things (IoT)
The internet of things (IoT) connecting appliances is a computing concept that has gained wide momentum with its capability of being able to identify themselves to other devices. IoT is closely identified with RFID as the method of seamless communication between how you interact with your appliances.
IoT is important because an object that can represent itself digitally becomes something greater than the object by itself, kudos to the power of IoT. IoT devices are becoming cheaper, and one can connect these smart things to do interesting stuff much more easily than ever. Thus, the growth would not be just linear rather it will accelerate.
The next generation of mobile applications will integrate many technologies and will be a potent mix when application development meets artificial intelligence, the Internet of Things and Big Data Analytics. Put simply, these are apps which continually learn from user interactions and other data sources to become even more relevant and useful. Chatbots, virtual assistants and recommendation engines on e-commerce sites are some examples of integrating intelligent applications. Based on Wi-Fi and smartphone data, a smart app can determine when to turn off the lights in an office building and when to put the machines off in a factory. Apps could also replace current systems for manual time registration and could evaluate and prioritize leads by predicting which opportunities are most likely to be chosen.
Big data encapsulates a large volume of data which can be structured and unstructured inundating the business on a day-to-day basis. Though the data is humongous, what organizations do with the data is what it matters the most. Big data can be analysed for insights which lead to better decisions and strategic business moves. Picture this, the New York Stock Exchange generates about one terabyte of new trade data per day, and 500+terabytes of new data is what databases of social media site Facebook churn every day through photo and video uploads, message exchanges, comments etc. The big data give an umpteen advantage to companies as per predictive analytics is concerned, offering services personalized and tailor-made to the users.
Research estimates predict that the big data market made $122 billion in global revenue way back in 2015, which jumped to $149 billion in 2017 and went to $169 billion in 2018, and as per the predictions go, it is estimated to touch $189 billion in 2019. What an opportunity!
In a crux, 2019 paves way for a number of opportunities for the disruptive technologies to scout their applications in not just the traditional applications but into niche domains like defence and food industry!