As data across sectors shows sustainable momentum, there is a strong recovery citing a raft of data. Which tech trends will be acknowledgeable in the upcoming year? Will the good business be all about profit or sustainability, higher ethical standards, people and planet?
COVID-19 has raised a gamut of scenarios for the data scientists to explore experiment and come up with resolutions that become conversion starter for Post-COVID economy. More than the financial return businesses will be inclined more towards transactional and performance metrics like profitability, growth, market leadership, and operational resiliency.
We are truly witnessing a decentralized economy post-lockdown. Most of the disposable income aids in local shopping, owing to festive shopping sales from digital biggies like Amazon and with tier 2 and tier 3 cities already buckling up and driving the bulk of growth for top consumer companies and retailers, there has been a marked increase in sales since 2020 Q3 onwards. Smaller towns have outperformed bigger cities even in high priced discretionary categories. That’s partly as shoppers are staying away from shopping malls in metros due to COVID-19 and cutting back on spending while economic activity isn’t significantly affected in smaller towns. Even eateries like McDonald’s, Dominos, and Pizza Hut are clocking a growth of 90-110% of pre-COVID-19 levels in some smaller towns.
According to Gartner, the industries that work on the patchwork approach and those that are not inclined to work parallel to technology evolution will be left behind. They need to buckle up with lean, connected, optimized, explicit, and clean business ethics. Simultaneously, they need to focus on efficiency, business agility, efficacy, speed, and democratization to accelerate their digital business. The technologies in focus will be:
Here are some of the top tech trends:
Artificial Intelligence (AI) is best known for creating virtual assistants that assist us with our shopping preferences and act right in absence of a human customer care representative on e-commerce shopping apps and many such websites and mobile applications. These robots however will not steal people’s jobs. AI comes with enormous possibilities and reduces the human effort where it is least required or is redundant. It is here to enhance the performance and to make the world a better place to live in. Right from assessing the safety of self-driving cars to cracking mathematical puzzles for understanding the world, AI will continue disrupting the economy (for the better) but it will always remain incomplete without a moral compass. So AI models can be trained to recognize and de-puzzle as many objects as desired paving the way for more cost-effective ML-based learning models.
As small businesses switch their infrastructure over to the cloud, the need to have dedicated platform or hardware tools has been erased off with the evolving cutting-edge technologies. Just a little upfront investment in the tool, some equipment and a bunch of specialized people is all that is required to get going. The application, data, runtime, middleware, O/S, virtualization, servers, storage, and networking are all required to quickly increase capacity to meet demand.
Irrespective of the growth, AI will keep transforming and transitions will never stop. One thing will lead to another resulting in the Internet of Things that will disrupt the Internet age. It can be perceived after crunching the numbers, that it will be efficient to create a roadmap, up-skill and create the enterprise of the future of work. Robotics is not just about making machines work but is also about working with each other efficiently and effectively. The need for a human to interfere and the need for a robot to simplify and expedite the process will be high. The drones are known for quick, safe, and contactless deliveries – very relevant during and post the COVID scenario. The need to have self-driving cars and automated parking slots will surge due to increasing population, reducing landscape and the people who are always short on time.
When the speed gets innovated, increasing the bandwidth, uplifting music and video streaming, advancing mobile connectivity, removing the wait time in launching YouTube videos, augmenting reality and cloud-based gaming platforms, and simultaneously threatening cable and fibre-based networks to be redundant with their need to be tethered to a particular location, then it is the 5G age. 5G comes as a respite over 4G and 3G networks. It relies on complex machine learning applications with access to real-time Big Data Sources.
When AI turns up and superimposes itself over all the existing technologies, the resultant is a projection of computer-generated imageries into a user’s field of vision. The combination of science, computer, virtual reality making a mix of artificial and real environments to bring something entertaining and expanding the real world in form of images, text, video accessible via smart-phones and similar handheld devices. This is a sort of stereoscopic 3D display to represent simulation – augmentation, vibration, movement to enhance the user experience.
Automation will be the keyword that will gleam throughout 2023 and beyond. Automation will be extremely important in upcoming years, with initiatives that will reduce human effort and simultaneously improve the quality of life. E.g. Image recognition algorithms can be used to detect which fish is under-fed or requires medication or water purification, automatically dispense food and medicine required to keep them healthy. Konstant is in process of disruption owing to our streamlined efforts towards innovation and uplifting the existing projects, injecting them with the right dose of techniques and required skills. We work with start-ups and enterprises, to start from scratch or expand the legacy code. We are up for an open discussion involving project ideas on ISXR, XR, VR, AR and more. Let’s connect!
Neeti Kotia is a technology journalist who seeks to analyze the advancements and developments in technology that affect our everyday lives. Her articles primarily focus upon the business, social, cultural, and entertainment side of the technology sector.
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