Top 4 Emerging Technologies!
Dr. P. Swami Sairam
Assistant Professor – Woxsen University
As the world is progressing towards post covid situations, the rise and the need of emerging technologies have gained much more attention than ever. Several industries and organisations are focusing towards developing latest software’s and interfaces which has resulted in a rising demand of people with skills and ability to work on latest emerging technologies.
Today we put an emphasis on 4 mostly searched and needed emerging technology.
AI technology has been a highlight of the past decade. From quantum computing and vaccine development to driverless cars, AI models played a very significant role. The AI business tools could forecast the shifts in industry and can help to make proactive changes to business and marketing strategies. Even the record speed of corona vaccine development was partly due to the AI models that helped the researchers analyse huge amount of data. The use of conversational supports using chatbots and virtual assistants, sentiment and text analysis with natural language processing have become more significant in the past year. The technology would continue to gain traction in 2021 as organisations shifting towards predictive capabilities and seamless supports. With the AI powered solutions getting more powerful, user experiences are getting better, building value for businesses.
(Source: https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market )
The global edge computing market size is anticipated to reach USD 43.4 billion by 2027, exhibiting a CAGR of 37.4% over the forecast period, according to a new report by Grand View Research, Inc. As opposed to cloud computing, where the data is transmitted over to centralized locations for storage and computations, in edge computing the data storage and processing takes place closer to the data source and only results are transmitted to the cloud. This brings down the transmission bandwidth requirements and latency issues in networks, enabling the applications to respond faster. The AI-enabled new edge computing modules are already having huge popularity in applications ranging from self-driving cars and drones to robots which requires instant computing. According to the study conducted by Market Research Future (MRFR), by 2024 the market size of the Edge computing technology would reach by USD 22.4 billion. With the connected cities, vehicles and autonomous systems driving the market, the Edge computing would be ever so demanding in 2021.
With the impact of digitalisation getting more prevalent in our life, cybersecurity has arisen as a biggest challenge. The number of virtual threats, phishing attempts, malware attacks has reached record heights in the past year. With the increasing frequency and complexity of cyber-attacks, the technology needs to be constantly evolved to enhance the security.
With the governments and companies spending billions on cyber defence, the technology would remain one of the trendiest.
(Source: https://www.grandviewresearch.com/industry-analysis/cyber-security-market )
Blockchain technology is gaining attention and is one of the most upcoming technologies. This technology emerged in the year 2008 as a whitepaper for bitcoin, since then several industries have been researching to develop applications using this medium. Blockchain has become an industry in its own right, even at this relatively early stage of its development. Promising blockchain start-up companies regularly accumulate hundreds of millions of dollars of investment in their initial offerings, with particularly successful ones such as EOS raking in multiple billions. It has led to a much secured and transparent system enabling it to be more trustworthy. The market is expected to exhibit significant growth owing to abundant benefits provided by this technology, such as eliminating need for any financial institution to authenticate transactions, eliminating reconciliation, reducing duplicative recordkeeping, facilitating faster settlement, and minimizing error rates. This technology allows access to databases from everywhere, thereby allowing multiple institutions to use it simultaneously to bring different systems nearer and help improve efficiency.
Source: https://bit.ly/3avawuJ, https://bit.ly/3pxCWZ4, https://prn.to/3u3ql3z