The business world evolves slowly, then rapidly, and that is often since before an industry is born, it requires the development of several concurrent technologies.
In the next five to ten years, a few industries might be interesting. Those will go from AI to autonomous driving, virtual realitty, 3D printing, IoT, and more. And those all have a few technologies in common to make them possibnle in the first place. Let’s see them all.
Blockchain technology is the use of cryptography to link data. It is basically a list of records that is unalterable. Along with this, it is also decentralized meaning it is not in the control of a single entity and is distributed among several entities to divide the power. In order to link the data is linked through a process known as “cryptographic hashing”. It uses a mathematical algorithm to map the data of arbitrary size to a fixed size.
Even though the word “robot” has a certain idea of being a machine that looks human but is not, robots are generally used to make processes better and little attention is given to the aesthetics that they provide. The discipline of engineering that deals with everything related to robots are known as Robotics. From designing robots on computers to constructing them and eventually operating them in order to perform tasks, all of these processes come under the umbrella of Robotics.
Voice search is basically a feature in smart devices that enables users to perform internet searches through a voice command. Being a dialog system, it can be accessed by activating the feature and speaking into the microphone. The device picks up the voice and searches the internet for whatever the user demands. In the simplest of examples, a person driving a car who can not use a device because of being on the road presses a single button and speaks for whatever is required.
Internet of Things is an amalgamation of physical devices connected to each other through the internet. In this way, these physical devices also become data points, able to share information and data. This is achieved by the “things” which are equipped with sensors and software to carry out these tasks.
Just like Virtual Reality (VR) develops an entirely new environment for the user using the technology and replaces the existing real environment, AR uses the current and real environment. Still, the objects inside are enhanced to stimulate user perception. It alters one or multiple aspects of the environment for interaction and enriches the experience. Whereas VR would have replaced the entire room and shown you an entirely manipulated environment, AR enables users to use the same environment and observe different objects within it.
5G stands for the latest or fifth-generation broadband cellular networks, as the successor of 4G, 5G will offer far greater bandwidth than 4G. Along with this, the download speed it will offer is also far better than the current technologies, and it is expected to reach up to 10 gigabits per second. This is critical for the further development of heavy-computational industries like AI and IoT.
Edge computing is a paradigm for distributed computing where data is stored closer to its physical location, enabling better performance and scalability for data processing. Thus, edge computing is critical to enable other major technologies to scale, like IoT and 5G. Thus making it possible to process a wider amount of data at a lower cost. This is why edge computing is also critical to the development of the AI industry.
3D printing is the activity of transforming digital files into 3D objects. 3D printing has been used for various use cases, from small objects (like art pieces) to houses and more. This technology might democratize the production process by enabling cheaper manufacturing and, over the long run, people to manufacture objects from their homes, thus triggering decentralized mass manufacturing.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
