When it comes to investment, we are spoilt for choice. With so much technology popping up, it’s hard to know which is the one to invest in. Well, we have compiled some of the more promising technologies you should strongly consider.
Artificial Intelligence (AI)
AI continues to make headway with massive potential to enhance decision making, business models and ecosystems, and ultimately change the customer experience. Due to this, many organisations are starting to take notice. Organisations are beginning to gather relevant information and build a strategy around AI. Some institutions are piloting and adopting AI programs.
AI is still evolving, and many organisations will need to invest heavily in developing skills, processes and tools. Now is the time to invest in data preparation, algorithm and training methodology selection, integration and model creation.
You might have heard of the word blockchain due to the current frenzy cryptocurrency has everyone in. But what is blockchain? The blockchain is a shared, distributed decentralised and tokenised ledger that removes business friction by being independent of individual applications or participants.
Blockchain creates a strong potential in the long term for untrusted parties to exchange commercial transactions. It is thought that the next couple of years will provide a lot of hype and little benefit. However, it’s still a wise idea to position yourself to take advantage of the technology. Try to understand the potential business opportunity and learn the capabilities and limitations of the technology.
Conversational platforms are the future; they change the way people interact with the digital world. Rather than people learning how to computer communicates, otherwise known as the interface, conversational platforms enable the user to convey their intent in a natural language. Conversational interfaces and platforms will soon become the primary design goal for user interaction. It’s likely that they will become the fundamental way that users communicate with the online world.
Apps & Analytics
Apps and Analytics are already prevalent. However, the integration of AI is expected with almost all applications at some level. Augmented analytics uses machine learning for automation. It can automate data preparation, help with insight discovery and insight sharing. One thing companies are starting to look towards is smart apps that augment human activity and identify use across advanced analytics. They also recognise intelligent processes and new user experiences.
Digital twins are digital representations of real-world systems. They offer up information on the status of their real-world counterpart. What can these representations do? They can respond to changes or improve operations, potentially saving companies billions of dollars in maintenance repair and operations.
At the moment, you will find that most examples of digital twins exist within the IoT space. However, there is a growing potential for digital twins to exist for other objects, for example, a digital twin for a human that offers biometrics and medical data to doctors. Alternatively, there could be a digital twin for a city that provides information to the city planner about maintenance.
What is Edge computing? It moves computation and processing closer to the user, or the “edge” of the network. How is this different from everyday cloud computing? When you compare it to traditional cloud computing, it reduces the communication bandwidth need, and that eliminated the latency between sensors around the cloud. When we think about drones and other robotic technologies that continue to grow, develop and mature, there is a growing need to process the vast amount of information in real-time.
Remember, you need to do your research and spend time learning about something before you invest. The more you know about the benefits and limitations of any technology the better. You should be making an educated investment.
Article By: Alana Downer works at Learn To Trade. She is an experienced blogger whose main interest lie in finances and new technologies. She might often be found online, sharing her insights into technology trends which shape the way both businesses and individuals function.
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