5 major technologies – Artificial Intelligence, Machine Learning, Augmented Reality, Virtual Reality and the Internet of Things hold the power to reshape our digital worlds. Perfomatix is a top Software Product Engineering Services pioneers in cutting edge technology solutions.
Business leaders must know how their industries will be impacted by these technologies in the near future and how they must plan ahead to stay competent.
With every passing year, the number of technologies that claim to be a game-changer is becoming longer. While not every technology on the list is a worthy candidate, there are few technologies that can be truly disruptive.
Artificial Intelligence, Machine Learning, Augmented Reality, Virtual Reality and Internet of Things are five such technologies that have risen to the forefront as disruptors. Their positive influence can be seen across all industries and business functions that were previously inefficient due to manual processes.
Before we discuss what the are the unique traits, benefits, and challenges of each of these technologies, you must know what makes these technologies so disruptive.
What makes these technologies disruptors?
There are 3 main characteristics that all of these disruptive technologies have in common.
1. They are rapidly advancing and introducing breakthroughs
According to Harvard Business Review, the pace of technology adoption is speeding up than ever before. In today’s digital scenario, it takes hardly a year for a new-found technology to become mainstream.
There is a huge democratization of technology that is introducing breakthroughs that were never possible before. These technologies are quick to penetrate industries, change the fundamental way they operate and disrupt the entire economy as such.
2. They have a broad scope of impact on societies
Internet of Things makes advances manufacturers to the era of Industry 4.0 and Connected manufacturing. At the same time, it is also within the reach of public and domestic users who want to control their personal devices remotely.
3. They will create significant economic impact
By 2025, these 5 technologies, along with a host of other disruptive technologies can create a potential global economic impact of $14 Trillion or more.
How These Technologies Are Transforming The Digital Landscape
On the onset, all these 5 technologies are making it easier to collect data, analyze it and make meaningful conclusions out of it. The benefits apply equally to enterprises as well as for individual users.
The smartphones of today are as powerful as the computers that powered by the Apollo Space Mission in the 1960s. On one side there is an enormous amount of data being created on a real-time basis. On the other hand, the processing power to process this data has also grown by a good measure. These two factors put together to make these technologies truly disruptive.
Advancements in Artificial intelligence is helping automation of knowledge work that was once the forte of humans beings. Contact us pages and customer service personnel are being replaced by AI-powered chatbots. Chatbots have even triggered a trend of conversational commerce. AI also has far fetching applications in several industries including retail, banking, healthcare, among many others.
ML systems can be trained to answer “unstructured questions” that users ask using conversational language. Natural Language Processing capabilities enable Machine Learning systems to understand these questions and offer accurate answers. Machine Learning can also prove to be beneficial in dynamic decision-making based on large volumes of incoming data.
Read: How we built an ML-based event monitoring platform that provided the client with actionable IT Operations Analytics.
Internet of Things
IoT is creating a mesh of sensor-connected devices that can connect to the Internet and exchange data over the cloud. These tiny BLE-powered sensors can collect a diverse range of data including temperature, pressure, moisture, movement, lighting and much more. Its sensory capabilities make IoT a perfect fit for digital transformation in manufacturing, healthcare, logistics, transportation, agriculture, retail, etc.
Do you know what happens when the connectivity of IoT and intelligence of Machine Learning is brought together in agriculture? It helps create an IoT Smart Water Monitoring System that can boost water efficiency by reducing water wastage.
Augmented Reality brings the mixed reality experience to users by overlaying digital snippets over physical objects, spaces or things. Apart from providing an immersive experience in their physical surroundings, Augmented Reality goes a long way in connecting users better with published content. It removes the language and comprehension barriers that users experience when they are exposed to new content for the first time.
For example, an auto-manual with part names and location. Augmented reality depicts information in the form of graphical snippets, using both imagery and text boxes which reduce user effort.
Case study: How a Singapore based media and entertainment company aced branding & promotion using an Augmented Reality based mobile app.
Virtual reality makes the user feel part of an artificial environment that is created virtually. The computer-generated scenario responds to the user’s physical actions giving an immersive experience. Virtual Reality is now being used for visualizing architect plans, retailer marketing, healthcare, education and many other real-world applications. Audi – the luxury car maker even rolled out a virtual reality showroom where customers can view cars in a virtual form complete with technical specifications before finalizing their order.
The pace of technological advancements is so staggering that a few years from now, our lifestyle would be totally different from what it is today. Businesses too will undergo a sea change of processes with automation replacing most of the manual work.
The above-mentioned disruptive technologies are the major forces that are transforming today’s digital landscape into a futuristic one.
Need Help? Perfomatix | Product Engineering Services
We are Perfomatix, one of the top Product Engineering Services companies. We provide mobile app development services in building highly scalable android and iOS apps, and APIs. We also have strong expertise in IoT apps, Virtual Reality apps, and Augmented Reality apps. Get in touch with us to find out how we can help in shaping your disruptive idea into a prototype, MVP and finally into a killer product. Visit our success stories section to find out more about some of the startups which made it big with us.