The constant progress of digital technology has delivered a lot of innovations that disrupted our public and business sectors. From AI technology to blockchain, there are many different innovations that are taking the world by storm in 2021. Let’s take a look at the most valuable modern digital tech trends that will have an even bigger impact in the future.
Artificial Intelligence technology is defined as the ability for machines to gain insights and mimic human actions. AI is one of the most profitable sectors that is finding wide usage in various businesses. In fact, it is estimated that it will reach a worth of $190 billion by 2025. Machine learning is one subset of AI intelligence technology is used by businesses in order to gain better insights and make expert decisions based on large data sets, while it is also used to make predictions about future behaviors of the customers.
One example is when you’re shopping on an eCommerce site, and afterward, you will get recommendations based on your previous purchases about similar products or services. Another example is getting personalized offers based on your preferences, which is powered by artificial intelligence technology.
Lastly, another use of artificial intelligence in online trading is there are automated trading platforms that trade based on certain parameters and are able to quickly make a technical and fundamental analysis without human input. In the future, we expect that artificial intelligence technology to be used by other sectors along with other emerging technologies.
Bitcoin is a very successful cryptocurrency that is powered by another unique innovation the blockchain technology. Blockchain technology is a decentralized payment system developed in order to power Bitcoin as a cryptocurrency and allow it to operate without external supervision.
Bitcoin is one the best alternatives to traditional currencies, and its value has surpassed $60,000 in 2021. Next, BTC transactions are highly secure. Also, Bitcoin offers low transaction fees and anonymity.
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With cloud computing, the software, database are stored virtually on a remote server, and it offers faster response times, flexible resources, and decreases costs. Basically, cloud computing provides different services over the Internet, and you’re able to save costs because you are not investing in additional hardware, servers, and other equipment.
One example is cloud computing in the gaming industry. There are cloud gaming services that put gamers in a favorable position that allows them to save money while being able to play the latest and most modern games because they are accessing a cloud-based platform, and they don’t need to in spending more money for the best gaming equipment or new gaming consoles in order to play new games.
Another example is services offered by Google like Google Drive, where basically you are able to store your files, photos, or videos on a server controlled by this provider. In the future, we expect more public sector organizations to leverage the advantages of cloud computing services.
Internet of Things (IoT)
Internet of Things can be defined as a ubiquitous network of internet-enabled devices that are able to connect and exchange data with each other. One of the latest examples of the Internet of Things is the emergence of the so-called smart homes that encompass multiple smart devices, which is another name for a device that is connected to the Internet, and it is embedded with sensors and specific software that allows them to complete certain tasks.
Another example of the Internet of Things is wearable health monitors, which can be used in the healthcare industry. It’s worth mentioning that it will be much easier to implement IoT solutions with the deployment of 5G technology. In the future, we expect IoT to be used as a foundational technology of smart cities.
When it comes to Virtual Reality, it can really look like this technology belongs to science fiction. But it is not, and every day it becomes more of our reality. With Virtual Reality, we can engage with the setting that the device is creating in an amazing way. There are already several applications for this digital technology. Its use in education is going to be most important, and its use in video games is most developed so far. But this exciting technology has just started to be developed. And while the road in front in front of it will be long, it is definitely going to be an amazing product. When it comes to training people, it is usually used together with artificial intelligence, and it produces great results already.
So let us delve a little bit into the possible application of this technology. Entertainment is one way to use it, as we can employ virtual reality to give visitors of a museum a much better adventure. Just imagine not only seeing some painting on a wall but being inside the painting. In the future, we can also expect a much more immersive experience when we watch movies. And speaking of the entertainment industry, Virtual Reality is already used for video games and is already extremely successful. There are even games that are made to only be played with Virtual Reality. In the future, we can expect this digital technology to be part of most games, especially those which put emphasis on the role-playing aspect. But the biggest benefits that we will get from Virtual Reality are in educating and training. Imagine medical professionals being able to practice surgeries without the risk of hurting the patients or pilots learning to fly airplanes in more extreme conditions. These are some of the possibilities that can help a lot of people improve their skills.
Another great new digital technology that is making our lives easier is 5G. This is another example of how everyone can see technology constantly evolving. We had 3G and 4G before, and who knows what will be the benefits of some future 6G. But what are the benefits of 5G? To start, it is making factories safer and more efficient. The control it gives to companies and stores in organizing is amazing, and that is not all. The internet is simply faster and more stable with it, so it is no wonder that all big companies are transferring to it and releasing devices that utilize it. One thing is certain, it will improve all of our lives, and we might not even notice it.
As we have seen, there are some amazing new digital technologies out there. The best thing is that they are still new and they are going to be much more advanced in the future. That doesn’t mean that we shouldn’t use them now, as they can already provide so many benefits to us. But it does mean that we have even more to expect to come, so there is no reason for you not to be excited.