One proverb sums up the human existence of life on Mother Earth. Change is always part of human life. And it is only for the better. Or else, your ancestors would have lived like cavemen even in recent times. Nobody knows the date your ancestor (caveman) modified a stick into a sharp spear for hunting animals. Then the fire came into existence. After a span of a few centuries, the wheel must have been found. It is impossible to describe all the technological advancements in a single article. And moreover, the title is different. It should focus on technology trends in recent times and how new technologies such as artificial intelligence, machine learning, cloud computing have brought about changes in every industry.
Every industry regardless of the segment has always welcomed any technology innovation with open arms. And by the implementation of these new technologies, they have made their business processes more mature and streamlined. However, it is mostly the small and medium cased businesses which have brought about many changes in the workforce and processes. So, let us focus on the technology trend changes in the workplace, shall we?
Technology Trends: How Are New Technologies Changing The Industries?
So, how do the big companies keep a tab on the files, documents and thousands of employees in their workforce or company? Let us imagine the situation. Company A is one of the biggest corporations which takes writing assignments. Now it has branches in ten countries. The Indian team works on a document and makes it version 0.0. The US team takes over from Indian team at the 5.30 Indian Standard Time PM and names the version 0.1. Now, how is the work made easy? In the old times, you had the email, and then you have to name one document and then send to another employee. Right? Another technology has come to the fore. Cloud Computing. A member from India can open the document in the server, work on it and rename it as version 0.0. And then the US team can work on the next version and name it version 0.1. The work gets completed, in full co-operation without any confusion by this method. And the new technology, cloud computing.
1. Technology Trends: Changes in Communication
If you have seen the interview by Narayanamurthy, the founder of Infosys, they used to wait for hours to make the call in the public telephone booth. Compare the same situation in recent times. Companies can interact with clients and customers with ease via smartphones, chatbots & even social media websites. These aspects have taken communication to the next level. And it is not only between clients and customers. Just imagine the interaction between employees and team leaders. Now, the time for an apt response has come down to six hours from 24 hours for many companies. In the olden days, if you want to speak with an employee based in foreign countries, it was only through the telephone. Now, you can do it via virtual options such as Skype or even Whatsapp.
2. Technology Trends: Project Management
In the olden days, targets used to get assigned for backend jobs. But the leader will have little control over the activities of the employees. Only at the end of the day, will the team leader get to know the completed tasks. But in recent times, you have several project management software such as Trello, which helps in delegating and keeping tabs on an employee’s work and performance. In the premium versions of many management software, you can also get a red flag option when a task does not get completed or goes off the track. Instead of the project going on the path of failure, you may take precautions to get it on track, courtesy the project management software.
3. Technology Trends: Interaction with Customers
There was a time when India was the hot hub of BPOs. Now the trend has faded. One of the main reasons may be the introduction of chatbots. And these applications work on the principle of artificial intelligence. Okay, let us take an example. You are an entrepreneur who has a company offering TV repair in Mumbai with the best technicians. You have also partnered with a home appliance company which offers doorstep services in Mumbai. To make matters easy for customers, you have a customer care center. But it is not humans, who attend the simple calls by customers but chatbots. It is an AI application where it can do simple tasks similar to humans. Likewise, the simple queries can get answered, whereas the complex queries get routed to a human. And these chatbots do not need rest. They can work 24/7. Now, there is no need for a human in customer care service centers. The chatbots can answer the queries. This is another technology trend which has become the flavor of the season in customer care service industries.
4. Technology Trends: Changes in Manufacturing Industry – Robotics
There is another aspect of technology which you as a human always fear. Surprised? It is the loss of jobs or the replacement of human jobs by a robot. And with artificial intelligence and machine learning, robotics is going to take a giant leap forward. In developed countries such as Japan, robots have replaced humans in low-level manual working jobs. In the future, a situation may come, when you as a human may have to work with robots. But unlike films such as Terminator where robots harm humans, there will be a perfect working balance.
And speaking of robots, how can we forget about automation? It has been proved that automation gives products of better quality. And every detail is recorded.
5. Technology Trends: Changes in Online Security
When it comes to the home improvement industry, artificial intelligence and machine learning have brought about huge changes. Remember the virtual assistants, Alexa, Amazon Echo, and Google Home. With these devices, you can control every smart appliance in the home. But let us focus on another aspect. Home security.
Have you ever logged on Facebook via your image? Yes, then how will you visualize a smart lock? How does it work? You need to make the settings. Ensure that your image gets recognized by the lock software. So, when you stand in front of the door, the application will scan your face and once the match is found in the records, you will gain access. Now, it is not that you will retain the same style on your facial features. You can grow a beard, mustache, go bald and many more. But the AI application in the smart lock can identify with ease and give you access.
And will you believe, that these locks can be operated anytime, anywhere? You can give temporary access to the delivery person to enter the living room and place the parcel. You can in the meanwhile monitor his movements via the camera fixed in all rooms of your home.
Now, hasn’t the new technology trend made a change in the home improvement industry? Yes? Shall we move to the next segment?
6. Technology Trends: Changes in Banking and Credit Card
So, what are the requirements for getting a high-level credit card? Imagine you are applying for a credit card and this is the first time. Now, the bank has to take account of your salary, spending activity, your loans and then decide to give the credit card. But banks are a dozen. So, if the service is not fast, then the customer (you) can switch over to another bank. So, the banks need an application or program where they can get the result at the earliest. An AI application can check every feature of your salary, the loan balance, the spending capabilities and deduce if the loan can be given or not. And it can complete the job within minutes. Imagine if a person has to do the same job. He/she may take time. This is another technology trend where banks are depending on new innovative software applications to not only give loans but also in identifying frauds and scams.
7. Technology Trends: Changes in E-commerce Industry
Do you believe the main reason for the growth of e-commerce is because of the popularity of mobiles? In recent times, nearly fifty percent of sales and purchases are done online. But how about the experience you will have on a reputed website such as Amazon? Let us imagine, you finished shopping for a bridal dress in Amazon. As you are about to leave the page, a notification will come stating that the previous person who bought the same dress also bought another dress. You cannot stand the temptation to go to the particular page. This is how the leads turn to revenue. Now, just imagine the statistics. Millions of customers are browsing all over the world, and so how is it possible to keep track of every customer’s wants and requests? It is by artificial intelligence and machine learning applications that all the data gets analyzed and divided into various compartments. And then made easy for the customer to get the best choice. The company also gets revenue.
8. Technology Trends: Searches In Google and other Search Engines
Remember the time two decades ago. You had to type the entire phrase or word on the internet to gain information. Move forward to the present, you just need to type one alphabet and you get various options. Suppose, you have gone to a wedding and liked the bridal dress or saree. Now, you did not find the time to talk to her. So, what is the next best option? You take an image of the dress and load it on the search option of a reputed website. You will get the best alternative. Thanks to new technologies such as artificial intelligence and machine learning.
9. Technology Trends: Changes in Education Industry
There was a time, to gain knowledge, one had to go to brick and mortar colleges or institutions. Not any more. The education industry has undergone a tremendous change with the internet and virtual learning. Being a working professional, you will be hard pressed to meet the balance between personal life and career. With international colleges and institutions offering online courses, you can easily opt to attend the classes as per your own scheduled time.
10. Technology Trends: Healthcare Industry
If there is an industry which has always taken the best of technology innovation to make human life better, it is healthcare. Let us imagine how new technology can help in times of crisis. At a specific place in the world, there is a malaria epidemic. Now, this place is far from medical assistance. So, it is impossible to take sophisticated equipment for checking the symptoms. So, the relief workers can examine the patients and then send it via a cloud computing platform to the healthcare facility. If a human needs to look into every report with precision, it will take time. If the hospital facility has implemented machine learning technologies, then the program can scan every report with accuracy and give the perfect result. The doctor at the other end will know the type of treatment to be given to a specific patient.
The recent technology trends brought about by new technologies are immense. So have gained enough info on this subject from our article? If you are interested in getting new information, either become a regular visitor to our website or opt for our newsletter.