That time capsule isn't here yet! Too bad, but there is no doubt that technology is rapidly changing our world.
It's here! The fifth generation of wireless technology promises light-fastening speed, exceptionally low latency, and seamless video communication experiences. The arrival of 5G is obviously creating a buzz not only in the industry but also around the globe. 5G is the piece of the puzzle that will remarkably enhance the application of future technologies which are reframing the world powerfully- Internet of Things (IoT), Artificial intelligence, M2M communications, automation and control applications, AR/VR, to name a few. A lot of improvement for the businesses as well as the consumers will be seen. Although it is not yet available for every country, research is still going on.
Cities will not be cities anymore, they will be “smart-cities”- everything from traffic management to trains can be controlled remotely. Yes, this is possible when combining edge computing & IoT with this next-gen wireless broadband. China pilots first 5G smart bus route in Guangzhou under 5G Pilot City Project.
5G’s greater capacity may involve mass AR experiences – which could transform experiences within the entertainment sector such as theatre, concerts, re-enactments, immersive gaming, and escape rooms.
Read more about 5G here.
It is starting to dawn on companies that having an effective cybersecurity strategy is not just a luxury but an absolutely necessity. The rapid acceleration of digital transformation coincides with the rise of cyber threats leading to greater awareness and more advanced solutions – not only for large organizations but also for small businesses. Cybersecurity is the most important topic for the current business climate.
Virtual Dispersive Network(VDN) is a unique approach to cybersecurity, wherein a signal is transmitted in short bursts or quantum packets, which can’t be covertly read without disrupting their content. Basically, no one can intercept data sent to you without introducing some noise in it.
Blockchain Cybersecurity is a more modular, responsive security approach by centralizing orchestration and distributing enforcement.
Owned by eSentire, Washington, USA, Versive offers enterprise Cybersecurity named ‘VSE Versive Security Engine’, which helps the financial and banking sector analyze all the transactions and secure related data using ML. They provide AI-based cybersecurity software which uses dissonant detection to detect vulnerable security threats. The organization says its software helps banks and financial institutions to detect adversary identification and security threats.
A famous software company in London, Tessian offers email monitoring AI software that helps financial institutions to prevent phishing attacks, misdirected emails, and data breaches. Tessian’s software uses anomaly detection and NLP at various stages to recognize which emails are Cybersecurity threats.
Read more here on best practices for ensuring Cybersecurity.
3. Everything-as-a-Service (XaaS)
Everything-as-a-Service (XaaS) is a cloud computing term for the extensive variety of services and applications emerging for users to access on-demand over the Internet as opposed to being utilized via on-premises means. It gives you the flexibility to customize your computing environments to craft the experiences desired, all on-demand. XaaS has expanded to incorporate many services such as:
Big Data-as-a-Service (BDaaS) providers are now available. Setting up an analytics toolset stack and a team of data scientists seems quite costly and time-consuming for any mid-sized enterprise. Hence to maintain a competitive edge, BDaaS can be used.
In many ways, XaaS and the Internet of Things (IoT) are connected. Many consumer-facing organizations are finding ways to integrate data tools into their existing products to provide users with increased value.
Rolls-Royce is a success story of a data-driven XaaS story. Through its TotalCare program, it rents jet engines to airlines on a “power by the hour” basis. The company uses data from networks of IoT sensors to provide proactive maintenance and help its customers cut costs and boost operational efficiency. It should be noted that efficiency savings of just 1% or 2% can translate to millions of dollars per year for large enterprises.
Blockchain, originally a chain of blocks, holds a list of records that increase with more users, and are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, transaction data, and other relevant information if needed. A blockchain does not allow any modifications of the data. The data once entered is distributed to subsequent blocks and hence cannot be altered from just any one of them. Hence the payments made by such tech are irreversible. The invention of the blockchain for Bitcoin, in 2009, made it the first digital currency with high security without the need for one central trusted authority or central server. The bitcoin invention has been an inspiration for other cryptocurrencies, and not only that, many blockchain applications are in progress.
International Payments- Blockchain provides a way to securely and efficiently create a tamper-proof log of sensitive activity. This makes it excellent for international payments and money transfers. In April 2018, Banco Santander launched the world's first blockchain-based money transfer service. Known as "Santander One Pay FX," the service uses Ripple's Current to enable customers to make same-day or next-day international money transfers.
Voting- Blockchain technology can make the voting process more easily accessible while improving security. Hackers would be no match to blockchain technology because even if someone were to access the terminal, they wouldn't be able to affect other nodes. Each vote would be attributed to one ID, and with the ability to create a fake ID being impossible, government officials could tally votes more efficiently and effectively.
Cryptocurrencies are a controversial relatively new medium of exchange. Historically, civilizations have been using various things as mediums of exchange to make trade easier and quicker for all parties involved. We have come a long way from using cattle directly in barter to shekels to coins to banknotes to digital money that we are used to today. The early concept of cryptocurrency originated in 1983 when cryptographer David Chaum conceived untraceable digital money and named it “ecash”. It led to people improving upon the work & idea by Chaum subsequently and in 2009 the first decentralized cryptocurrency, Bitcoin, was created by Satoshi Nakamoto, a pseudonymous developer, which now has the largest market volume in of all crypto-currencies. The cryptocurrency industry is based on Blockchain Technology.
Steemit is a blockchain-based blogging and social media website, which rewards its users with the cryptocurrency STEEM for publishing and curating content.
In the corporate world, companies are slowly moving towards accepting transactions in cryptocurrencies, with Bitcoin the most popular and Etherum as the runner-up. Tesla announced in an SEC filing that it has bought $1.5 billion worth of bitcoin. The company has started accepting bitcoin as an alternative payment method for its products, making it the first automaker accepting Bitcoin.
With the rise of e-sports, the gaming industry will also lead the usage of cryptocurrency adoption. Most gaming companies have a non-standard digital currency or virtual currency defined since a long time ago. Cryptocurrency will confirm a simplified gaming experience. The increasing number of players endorsing them will also escalate the price of their tokens.
Read more about cryptocurrencies here.
6. Natural Language Processing
Natural Language Processing(NLP) is a branch of artificial intelligence that deals with the interaction between computers and humans. For a long time, researchers have been trying to make machines learn, read and understand emotions like humans. Making machines learn things itself is a huge challenge. The ultimate goal of NLP includes sentiment analysis like human and communication with humans in their natural language. Sentiment analysis is currently being worked upon with Artificial Neural Networks(ANN). ANN are models that are trained to learn through experience rather than coding. Following are the use cases that define the scope of NLP-
OpenAI’s GPT-3 API allows us to give instructions in plain English and in a result we get the desired task completed. GPT-3 also demonstrated strong performance in tasks like answering questions and completing sentences and translations. Interestingly it fooled humans, a college student used GPT-3 to write a fake blog and ended up at the top of Hacker News.
From Siri and Alexa with speech recognition assistants to much bigger applications including Tesla’s self-driving car NLP is creating a huge impact and is still improving AI.
7. Tactile Virtual Reality
Immersive experiences are becoming mainstream much faster than we can imagine! Virtual Reality immerses the user in a simulated environment, Augmented Reality is an overlay of technology in the real world. AR-VR traffic will increase 12-fold by 2022 in all fields of entertainment, according to global forecasts by CISCO .
Touch is an important aspect of experience giving us a deeper understanding of the things which cannot be fully experienced by sight or hearing. That is where Tactile Virtual Reality comes into play. It combines the use of several types of technologies including sensors, advanced optics, etc. bundled into a single device that provides the capability to overlay augmented digital content into your real-time space. The touch barrier can now be scaled with the advancement of Tactile/Haptic technology.
A common example is video game controllers that vibrate when the player’s avatar takes a hit. Some researchers think more advanced, wearable versions of such interfaces will become a vital part of making virtual and augmented reality experiences feel like they are actually happening.
Microsoft’s Hololens is one of the biggest powerful inventions of Augmented Reality. It can be used in various industries such as architecture designing, education purposes- to understand the structure of different things with 3D models, transforming healthcare education.
According to Gerhard Fettweis, Creator of the Tactile Internet-“For the tactile Internet, we’ll need more powerful devices and a much faster wireless network, 100 times faster than the current 4G. The 5G latency rate is expected to be less than 1 millisecond; 4G networks have a latency of 25 milliseconds. Once there’s a ubiquitous infrastructure with which we can control real and virtual objects, planet Earth will be changed big-time. 5G will deliver more realistic, immersive, and interactive VR experiences than do today’s systems. Headsets will be mobile, and not plugged into computers. Students will be able to virtually wander the streets of, say, ancient Rome, touching its famous landmarks.”
The deployment of 5G and the dawn of the tactile/haptic internet will be the bridge to possible Virtual and Augmented reality applications that have the potential to enhance the way we “Live, Work, Play and Learn.”
8. Human Augmentation
Humans have continually experimented with technology to enhance life as they know it. This curiosity has now entered another territory – Human Augmentation which basically means taking the help of technologies like Artificial Intelligence and Internet of Things, to not only enhance our daily lives but also to take human intelligence to the next level.
Currently, the studies have been racing towards helping people with disabilities with bionics and prosthetic augmentation and curing sickness by experimenting with genes. But the promise is to end the existing physical disabilities or prevent injuries from happening at all.
It can also provide opportunities for other creative functions.
Google Glass: By now, everyone has at least heard of this technology, even if you’re not entirely sure what it does. While the device has had a rocky start (mostly due to a premature announcement), vision augmentation is becoming increasingly popular.
Neuralink: Another project by Elon Musk with the ultimate goal of creating a brain-computer interface (BCI). If successful, the project would allow individuals to interact with a computer on a neural level. While this project is still in its infancy, Musk has a track record of making impossible ideas a reality.
Naked Prosthetics: A company that creates custom hand prosthetics for individuals who have had their fingers amputated. They are one of the first finger prosthetics manufacturers to provide their users with extremely high levels of dexterity.
Computing systems have a basic ability to store and manipulate information in the form of individual bits, which are binary in nature with 0 and 1 states. A new breakthrough came in technology with the invention of Quantum Computing. IBM was the first company to build universal quantum computers in 2017, via the IBM Quantum(IBM Q) Network and unveiled it commercially in 2019. Quantum computers leverage quantum mechanical phenomena to analyze information. In quantum computing, quantum bits (or qubits) have two states but can store more information than 1 or 0 because they can exist in any superposition(combination of states) of these values.
Quantum computers are best suitable for solving mathematical problems. The main applications of Quantum computing which are being worked upon are Cybersecurity & Blockchain, Big Data, optimization, chemistry, and material science.
Microsoft has addressed the problem of fertilizers can be solved with the help of appropriate scaling of Quantum computing hardware. An alternative process of making fertilizers is possible with lesser costs.
The UK Met Office, the national weather service of the United Kingdom, has already invested in quantum computing technology to help improve forecasting. More insight can be gained into how we are influencing our climate because quantum computers helping us to build better climate models. The sooner we know how things are expected to shift, the better we will be able to prepare and respond to climate change and its impact.
Read more about Quantum Computing here.
10. 3D printing
3D printing, also called additive manufacturing, is a process of making three-dimensional physical objects from a digital model. The creation of a 3D printed object is achieved using additive processes. In an additive process, a physical object is created by laying down several layers of material until the object is created. 3D printing can produce complex objects and geometries that are difficult to achieve with hands. Let us see the use cases of 3D printing to an industrial level-
3D printing is of great importance in the rapid prototyping process. In every industry, especially the automotive industry, the pre-manufacturing stages involve prototyping. Automotive parts can be built with 3D printing and hence 3D printing has added value to the industries. Autodesk(AutoCAD) software has been of great value to big projects like Tesla electric cars.
3D printing has a scope to become smarter with sensors and machine learning. It will be able to measure the temperature and size. Such ideas are being worked upon currently and therefore increases the scope of smarter 3D printing in the future.
3D printing has had a significant impact across the medical industry, from producing custom prosthetic legs for a marathon runner, to creating a model of the human heart to aide surgeons to making a new tail for an alligator that had its tail bitten off as a baby. Recently, a team from Northwestern University Feinberg School of Medicine in Chicago successfully conducted an experiment in which a mouse with 3D-printed ovaries actually successfully birthed healthy pups. This is an incredible breakthrough, as there is now a substantial belief that this could potentially work with humans given further research and experimentation.
3D printing has the ability to produce entire houses in buildings. This is a remarkable feat for the technology because it could potentially save lives when areas are enduring tough times from things such as natural disasters and war because emergency shelters can be constructed quickly and on-demand using 3D printing technology. How fast can they be built? In Moscow, Russia, a team used 3D printing to create a 400 square foot house in less than a day, just to point out one instance of the production speed.
Shriya Madan, an ardent learner, a digital enthusiast, aspires to make an impact in the real world with the power of technology
Pranjali Apurva, driven by curiosity, converging strategic design with digital transformation