As we look around, the kind of technologies we are blessed with today, is overwhelming. It is difficult to imagine how quickly technology has become a part of our everyday lives. For instance, there is no need of a key to open your apartment door. All you need is to flash your smart card. Similarly, your office is located in central Delhi, but you are stuck in traffic and cannot reach a meeting where you need to present a report immediately. Just click on your mobile/ tablet and download/ view it instantaneously and even launch the presentation on a virtual Video Conference Call. In another scenario, you are in a new city and your child falls sick, you wish to take her to the best paediatrician around. Not to worry. Search on the internet, you get all the information including the qualification, reviews, and years of experience of the doctor. Some app will let you book an appointment, the other will help you book a cab, a third app will let you know the shortest route to the destination and you can pay for the fare, doctor’s fee and medicines by way of using yet another app. And how was all this information available, because most of the apps keep information data on cloud, gets updated real-time and can be accessed from any location.
As we enter a new year of hope, happiness and success, there are four major technologies that would dominate 2018:
- Cloud Computing: Cloud computing is projected to increase from $67B in 2015 to $162B in 2020 attaining a CAGR of 19%. India too has joined the list. According to “India Cloud Computing Market Forecast & Opportunities, 2020”, the market for cloud computing services in India is projected to grow at a CAGR of over 22% during 2015-2020. Cloud technology is extremely beneficial for enterprises. With features like agility and accessibility, today the entire world is moving towards cloud. No matter in which geography you are or what device you have, you can have access to all the information and continue with your work. All thanks to cloud computing. Additionally, this technology is extremely cost effective, and makes you hassle free from the large IT Infrastructure set-up. Since it offers mobility, increased efficiency, cost-effectiveness, streamlined collaboration, and much more, there is no doubt that 2018 would be the year of cloud computing. We are sure to witness SaaS solutions become the most highly deployed cloud services across the globe in the coming year.
- Artificial Intelligence (AI): AI is dedicated to simplifying our lives and work processes. It is all about machines thinking intelligently like humans. They are designed to learn, reason and perceive things– qualities exclusively found in humans. Every industry today has a high demand for AI capabilities-Healthcare, Manufacturing, retail, sports. Smart-phone manufacturers have come up with features of face recognition in their mobile phones. Automobile companies are joining the bandwagon of manufacturing self driving cars. Healthcare is another important sector where AI is in great demand.Researcher Frost & Sullivan said artificial intelligence systems will generate $6.7 billion in global revenue from healthcare by 2021, compared with $811 million in 2015.
- Internet of Things: With projects like smart cities and smart homes, IoT is definitely a technology to watch out for. According to a report by International Data Corp. (IDC), global spending on the Internet of Things (IoT) will grow 14.6 percent in 2018, to hit $772.5 billion. With large amount of data and automation, it helps in energy conservation, improved service delivery capabilities, better health and safety, and enhanced productivity. However, with many smart devices in the making IoT is not just going to impact a particular industry but personal lives on a daily basis as well. Smart cities development is in full swing in India and many other countries where a lot of processes are dependent on this technology.
- Blockchain: Blockchain was created to reinforce digital currency. This innovative technology increases the speed, transparency and security of transactions, making it ideal for managing financial data. Blockchain allows financial institutions to capture client transactions in real time, allays concerns about data corruption, and ensures historical tracking through sequential timestamps. When it comes to intellectual property, blockchain can be used to track ownership of and rights to all types of digital content, including books, music and even logos. Additionally, this technology has great implications on the energy industry, where constant changes in how we create, store, distribute and consume energy has led to the waste of a precious commodity. Having a single record of energy transactions based on blockchain would make industry data from generation to consumption more manageable, accessible and actionable, which in turn could lead to increasingly rapid advancements in the industry. Blockchain indeed will be the foundation of technology developments across industries for decades to come.