Five of the Top Emerging Technologies Revolutionizing Businesses this Year
Technology continues to evolve at speed and is now playing more of a role in businesses.
13:09 04 October 2019
This has now led to business owners looking to integrate this emerging technology in order to help them evolve. Here we cover the key emerging technologies to consider moving forward.
- Artificial Intelligence
AI works through software algorithms and automating complex decision making tasks to mimic that of the human thought processes and senses. A subset of AI is machine learning, which is becoming more and more integrated into everyday life. These focus on the development of computer programs and can then teach themselves to learn, understand, reason and even act on the data given to them. This has huge potential and is only set to grow in the coming years. Research has shown that China and North America will see the biggest AI gains by 2030, with the potential GDP gain at $15.7 trillion.
- Augmented reality
This technology is another set to make a huge impact for businesses in the coming years. AR is a visual or audio ‘overlay’ on the physical world and uses digital information to augment the user’s real world view. An example of this in action is AR-enabled smart glasses helping workers in a warehouse to fulfil orders with speed. This is really opening a new realm for businesses to explore. Research has shown that 24% of companies will make significant investments in AR in the next three years and 5% think it could also be set to be the most disruptive tech to date.
This technology is another becoming far more regular in the everyday running of businesses. It is a digital database that uses software algorithms to record and confirm transactions with absolute reliability. This is likely to be the future for autonomous digital commerce. This is a process taking place in many fields such as gaming and helps push through offers such as the coral promo code. It altogether makes the payments process within businesses more efficient.
- Internet of things
This is a network of physical objects such as devices and appliances. These are then embedded with sensors, software and network connectivity. The process will then act on data without human intervention. The key example of this is smart home products, which is another avenue that continues to evolve. Research has shown that 73% of companies are making IoT investments and 47% of people also believe that this is the most important technology to help cut costs for businesses.
Robots are machines that are also beginning to play more of a role in business. They have enhanced sensors, control and intelligence. This means they can now assist with human activities. The robot market continues to grow and this is not likely to change with a number of service applications becoming available. These are really playing a key role in manufacturing, helping to speed up the process working alongside humans.