Exploring Top Five Technologies Revolutionizing The Business World
Internet of Behavior. Green AI. Homomorphic Encryption. Autonomous Vehicles. Cobots. More. The future is an exciting place to be in. Or the future is now? Let’s find out.Businesses are gearing up for the technological upheavals in the future as digital transformation has taken the world by storm. Whereas some technologies have managed to pique the interest of IT leaders some have made them skeptical of the high-risk payoff. However, one thing is for sure that these technologies have been miraculously reshaping our lives, whether we realize it or not. And, this is just the beginning as there is a lot more to come. This blog discusses some of the major transforming technologies that you should know,
- Internet of Behavior (IoB)
IoB is one such trend that you’ll hear more about in the coming years. Organizations are leveraging it to effectively monitor customer behavior with tools like big data, location tracking, and face recognition. By 2023, individual activities will be tracked digitally by an “Internet of Behavior” to influence benefit and service eligibility for 40% of people worldwide. IoB helps businesses understand the behavior of their prospects and their buying habits across various platforms to keep them satisfied and delighted.
- Green AI
Green AI is capable of tackling sustainability challenges as it is the way with which businesses can look forward toward a sustainable future. New estimates suggest that the carbon footprint of training a single AI is as much as 284 tonnes of carbon-di-oxide. Approaches of green AI focus on strategies to mitigate energy consumption and climate impact as a lot of AI advances have staggering carbon footprints. Keeping a balance between model accuracy and sustainability gives a strong cost competitive AI which is aligned with sustainability goals. The focus is on building AI that is efficient as well as sufficient.
- Homomorphic Encryption
Homomorphic encryption allows businesses to ensure the privacy of their customers and get the necessary data insights. They can securely share confidential data with third parties to get computational services. Homomorphic encryption market is valued to reach USD 268.92 million by 2027. The cloud service or the outsourcing company have access only to the encrypted data for computations. This technology allows secure cloud usage, enables effective collaboration, and ensures regulatory compliance. Businesses can securely use cloud computing and storage services with homomorphic encryption. Innovation can be planned and executed better without any compromise in the confidential sensitive information. It will dramatically help every industry, especially healthcare and finance.
- Autonomous Vehicles
Autonomous vehicles are capable of digitally transforming the entire transportation system and mobility landscape. In 2021, however, the market is forecast to recover and start growing, reaching a size of over 37 billion U.S. dollars in 2023. Autonomous cars will make transportation smoother, safer, and comfortable like never before. Which is why, automobile giants like Audi, BMW, Uber, Tesla, and Ford are set to invest heavily in autonomous cars. Autonomous vehicle technology is maturing rapidly. It can revolutionize our economy, environment, and society for the best in a big way.
A cobot or collaborative robot is gaining tremendous momentum in the manufacturing sector. As this form of robotics has become getting popular, Cobots market is expected to reach $3.3 Billion by 2022. These robots are people-focused robots that are extensively designed and programmed to collaborate with humans. Cobots are capable of helping humans improve productivity and efficiency. Companies have started to understand that cobots can assist them enhance product quality, support flexible production, and improve assembly. The Zymr Expertise -- Digital Transformation ServicesZymr is an expert with a successful track record of building phenomenal products for startups to enterprises -- from concept to cloud. Build customer-focused solutions with our digital transformation services. Our cutting-edge initiatives and best-of-breed designs build rapid proofs-of-concept to help you achieve your digital transformation goals.