Three Major Trends in Technology
Artificial intelligence, machine learning, AR and VR will dominate the technology sector according to experts. Voice recognition and automation were already buzz words in the past. The year 2017 will see major tech companies take off from the inroads they made in the past and also achieve a few breakthroughs.
Internet of Things: Experts believe that the Internet of Things (IoT) will take over the way businesses and, indeed, everyday life is experienced in a big way in the coming years. In a theory of survival of the fittest – or the smartest-those businesses that adapt quickly to the IoT are the ones predicted to survive in the near future. It is estimated that by 2020, there would be 50 billion connected devices thanks to the IoT.
Smart home devices are selling like hot cakes if Amazon’s Echo sales are anything to go by. About nine times as much Echo devices were sold in 2016 than the previous years. A Smart Home Technology survey reported that 70% of those who bought Echo said they were likely to buy more such products in the future.
Powered by Amazon’s virtual assistant Alexa lets users control most of the things at home including switches, fans, lights, thermostats, locks and garage doors, and other compatible devices such as Philips Hue, Ecobee, Samsung Smart Things, and Nest. Alexa lets you order a pizza and book a cab while checking out the weather or the latest update on the news, all thanks to the smart home technology. As the technology gets smarter, there would be more intelligent tasks Alexa can do in the near future.
Hubs such as Samsung Smart things, Wink or Insteon may also shake things up in the technology arena.
Advanced machine learning: Machine learning involves complex algorithms that will enable computers or machines to learn from the experiences using techniques including supervised and deep learning and technologies like neural networks and natural-language processing. Machines can become capable of adaptation, prediction and ultimately gain complete autonomous functions by their ability to teach themselves. Machine learning is already integrated into mobile applications of e-commerce sites. Machine learning is also extensively used in the analysis of big data and in predictive analysis. But the future trend as experts predict is in the field of research and development with machine learning technology. Machine learning is also expected to foray in a big way into banking sector with its ability to predict likely fraudulent transactions.
Virtual and augmented reality: Virtual reality has been around as simulators for training purposes. With the phenomenal success of Pokémon Go, augmented reality (AR) is set to be the technology of the future and the revenue expected to be generated from AR is $90 billion by the year 2020. The big five in technology are definitely interested in leveraging the interest and potential of AR and this is quite evident in Apple’s acquisition of Metaio, an AR start-up and Faceshift. In the offing is also a VR version of Windows. VR till now limited to gaming and 360-degree videos but is expected to reach new heights given its wide appeal and consumer interest.
AR may have the edge over VR as it expands its applications to enable a home-owner to visualize how the kitchen would look when redesigned or how the new clothes fit. Google is foraying into AR seriously as evident by the partnership with Lenovo for the former’s AR platform “Tango.”
Automotive head-up display is another major exciting technology that is predicted to evolve in the near future. The technology enhances driver safety by displaying relevant information either on a transparent screen, windshield or combiner. According to Zion Market Research, the automotive HUD market will reach £1,291.68 million by the year 2021 with a steady increase in demand projected.