Three Technology Trends that are Driving the 4th Industrial Revolution
Technology innovations are flying sky high and our lives are greatly being transformed by the wide-reaching technology innovations. The fastest-tracking digital transformation according to an article by Bernard Marr, an internationally bestselling author, futurist, keynote speaker, and strategic advisor to companies and governments, is the COVID-19 Pandemic. Let’s delve into the top three technology trends of the 4th industrial revolution.
Artificial Intelligence and Machine Learning
The ability to learn, acquire and apply knowledge and intelligently make decisions, perform actions and predict future outcomes based on key learnings from data and continuously improve through experience symbolizes artificial intelligence (AI) and machine learning (ML).
AI is on the surge to transforming our world and it's already being used in our everyday lives from Google searches to powering Amazon's product recommendations and the personalized suggestions from Netflix as well as in the security process for fraudulent credit card use. AI and ML also provide the foundation for modern tech-driven innovations that the globally booming tech market is quite abuzz with. AI gives machines the ability to carry out a wide range of human-like processes, such as seeing (facial recognition), writing (chatbots), and speaking (Alexa). AI will continue to infiltrate into nearly all aspects of our lives as the machines get significantly smarter and gain more intelligence through experience.
The 5G Network
The next-in-line to the 4G-Lte, the fifth generation of cellular network technology promises much faster, reliable and stable wireless networking and ensures shift to constant connectivity amongst devices enabling richer and diverse data streams.
One of the pillars of a smarter, more connected world is the networking technology because with increased bandwidth and coverage, more is now being deemed achievable, from email to web browsing, location-based services, and streaming video and games. 5G further promises rapid transfers of huge volumes of data that, in all likelihood, will bring major changes to a wide range of industries. According to a landmark 5G economy study, 5G’s full economic effect will likely be realized across the globe by 2035—supporting a wide range of industries and potentially enabling up to $13.2 trillion worth of goods and services. In addition to higher multi-Gbps peak data speeds, the 5G network will also be able to connect devices within a geographical area.
Cloud & Edge Computing
Cloud computing refers to storing and processing data and programs on a virtual space in a data center via a network that gives companies the capacity to store massive amounts of data and process it real-time. Edge computing refers to the processing of data on devices such as smartphones.
Cloud service providers such as Amazon, Google, and Microsoft allow companies to host all vital IT infrastructure in their cloud rather than within an organization's digital walls reducing overhead costs to maintain and operate individual systems, software and data. Edge sits at the other end of the scale—rather than far away in remote data centers, edge computing happens up-close-and-personal on the frontline of business operations. Rather than send every piece of information collected by cameras, scanners, handheld terminals or sensors to the cloud to be processed, edge devices carry out some or all of the processing themselves, at the source where the data is collected.
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