If you follow tech updates and news, you know about the increasing artificial intelligence (AI) solutions being adopted by companies on a rapid global scale. The International Data Corporation (IDC) recently updated their Worldwide AI Systems Spending Guide and found that by 2023 there will be $97.9 billion dollars spent in AI adoption. This is over 2.5 times the current expenditure of $37.5 billion.
The research director at IDC mentioned that AI and Machine Learning (ML) will be used for multiple solutions and applications including Human Resources software, healthcare systems, content management, user productivity, and driving consumer behaviour. AI is changing the function and productivity across all sectors and industries.
As a student interested going into tech industry at present means that you need to be up to date with the latest trends and technology. The following article highlights the top 5 tech trends taking the world by storm.
1. Internet of Things
The Internet of Things or IoT is one of the biggest and most popular trends to emerge in the last decade. The concept behind IoT is to connect all technological devices to the internet to integrate all your systems seamlessly. IoT takes the SMART device concept and applies it to various software enable a scalable, automated and upgradable technology.
IoT allows users to use this connected network to control all their products from a device. For example, individuals can turn on lights and electrical heaters in their homes when they are on their way back from work. Automated cars, which is a developing technology, can also be controlled through the use our devices. This integration will increase our productivity and also increase accessibility to our various devices and applications.
2. Machine Learning
Machine Learning or ML, is any computers ability to learn new functions and concepts by itself by analyzing data and tracking our interactional patterns and use. ML is a sub application of AI and is used in a variety of technology such as through social media discovery pages. These applications study your likes and views and then show you content that is related to your usage. It can also analyse your interactions with your friends and prioritize content of friends you interact with more regularly – who are likely to also be your close friends.
Machine Learning is being rapidly used to analyse consumer data and predict behaviours. With this information employers can use this information to better market their products. ML’s self adaptive algorithms are vital in driving user experience. In this day in age we rely on our mobile devices and gadgets to give us customized information and personalized options. Google already uses this technology even offline, allowing our smart phones to collect our information and enhancing our experience once we are connected. This is why sometimes when you type in a search query on Google; you begin seeing ads of that query across various platforms.
3. Deep Learning
Deep Learning is also an AI function and a further subset of ML that is used to simulate the neuronal functions similar to that of our brains. Deep Learning is a cognitive technology that also uses natural language processing (NLP) and speech recognition to automate and optimize several mundane user tasks. This technology is also used to process data and visualize patterns in decision making in the same way that humans do. Deep Learning has evolved especially with the surge of large quantities of data, commonly known today as big data sets.
These vast sets of data being extracted from all places of the internet and connectivity would take the average human several years to cognize and extract relevant information. Hence, forms the appeal of deep learning technology as it can read and learn from these big data sets that are unstructured and unorganized, but it can complete this task in the fraction of the time it takes a human to do it.
4. Touch Commerce
It is very likely that you have already used this technology to your full advantage. Touch commerce leverages our touch-screen devices to allow us to buy products and services with just the touch of a button. Consumers can buy anything they want right from their phones after they have linked their payment methods to their device accounts.
Touch Commerce has massively changed the e-commerce businesses. Retailers are utilizing this technology to increase their sales and user experience. Touch commerce is rapidly reducing the need for individuals to leave their homes and into shops and malls. The ease at which consumers are now buying products are higher than it has ever been.
5. Virtual Reality
Virtual Reality or VR is an older technology that’s been around since as early as the 1950s, however due to the lack of technological capabilities it was not prevalent until this century. With the improving software, hardware and general technologies, virtual reality is something out of our favourite sci-fi movies.
Virtual reality helps you visualize another reality through the use of the VR goggles. This technology prevailed initially among various video games. Today this technology is being applied to other sectors. If you can visualize another reality, the software can be programmed to visualize specific scenarios. VR technology is now being implemented in various industrial, healthcare and medical trainings. Students and employees can now receive the hands on training that will increase their productivity and efficiency.