1) Internet of Things (IoT) :
What is it: Internet of Things is the network of devices and objects, also known as things, with in-built sensors that integrates data from these ‘things’ with the help of the Internet.
IoT is THE thing in the future. It is practically possible to connect everything to everything using an IoT platform. Some of its current application is in farming, wearables, smart homes, and connected cars, among many others.
2) Augmented Reality (AR) :
What is it: Augmented Reality is a live direct or indirect view of a physical, real-world environment with layers of computer-generated images, thus ‘augmenting’ the reality.
Do you remember Pokemon Go? That is AR for you. From AR Headsets to smartphone apps to medical AR to sightseeing, Augmented Reality has made our world a fascinating place to live in.
3) Virtual Reality (VR) :
What is it: An artificial environment that is created with the help of hardware and software and presented to the user in such a way that it is accepted as a real environment.
Virtual Reality is widely used for various purposes such as real-world simulation to train employees, medical practice, architecture, and gaming.
4) Block Chaining:
What is it: Blockchain is a technology that is used to create a decentralized and open database of transactions.
If used effectively, blockchains can regularise the transaction history by bringing in authenticity with no third-party verification. Various financial institutions and governments have plans to implement block chaining to streamline transaction history.
What is it: Also known as Light Fidelity, Li-Fi uses common household LED light bulbs to enable data transfer, this is faster than the fastest Wi-Fi we use currently.
With extensive research already happening in this field, LiFi can extend to places where WiFi is currently not present. As light is the primary feature of this technology, it can be used anywhere to provide internet. The technology is expected to hit the floor by 2019-20.
What is it: According to ISA, automation is ‘the creation and application of technology to monitor and control the production and delivery of products and services.’
Automation is imperative as it improves the quality of our lives along with reducing the administrative overhead. Businesses can also gain an edge over their competitors due to automation. Thus, this is a technological improvement that needs to be kept tab off in the future.
7) Facial Recognition (FR) :
What is it: Facial Recognition is capable of identifying a person from a digital image or video by carrying out analyzing patterns based on the person’s facial contours.
Facial Recognition is important for many levels of security because it happens to be the fastest biometric. While there are many applications, the most famous one is perhaps unlocking smartphones using Facial Recognition.
What is it: A chatbot is a computer program that converses with a human using a chat interface.
In this age of constant messaging, chatbots are your friendly online advisors when you need any information or help on a website or an app, via text messaging. They are an effective channel to engage with customers and research the market.
9) Voice Assistants:
What is it: Voice Assistants is a program that understands natural language voice commands and executes the said tasks for the users.
Voice Assistance introduced liberation from the screens as all we want to do can be done hands-free with only a few voice instructions. In fact, in CES 2018, Google has predicted that voice assistants would take over our homes. Isn’t that cool?
10) 5G Technology:
What is it: 5G stands for Fifth Generation. It is the newest mobile wireless standards temporarily based on a standard of broadband technology.
Although 5G is still work-in-progress, it will change the way we use technology forever. 2020 is the expected year for 5G to take off.