[dropcap size=small]T[/dropcap]he future is now! It’s not the world of flying cars and food pills we envisioned, but the technology we have today is not any less inspired — from artificial intelligence that can sieve through tremendous amounts of data with increasing efficiency, to augmented and virtual realities that allow users to walk strange worlds and safely train for dangerous situations. These are the things that will change the way work is done.
01 Artificial Intelligence
The buzz and interest surrounding AI has built up tremendously, as it has the potential to reshape entire businesses and is expected to reach into many aspects of our lives. There are far-reaching uses for AI that will impact the finance and banking sector, self-driving vehicles, news reporting and many other disciplines.
A large proponent of this change involves businesses that incorporate AI applications into strategic and organisational development. In the age of AI, we are able to sift through large volumes of data within minutes. While the man on the street worries that AI will take over jobs, the reality is that it will help augment those roles, as repetitive tasks can be automated, allowing humans to focus on complex problems.
An example would be Adext, a platform that automates digital advertising processes, saving businesses hours on mechanical tasks. Industrial use of AI can be seen in General Electric’s efforts to build an AI workforce to monitor aircraft and locomotive engines to predict failure and conduct maintenance work. AI is also being used to keep us safe from cyberattacks. Start-ups such as Darktrace have developed AI that can conduct behavioural analytics to automatically detect abnormal behaviour.
02 Augmented and Virtual Reality
There is a reality beyond our own and technology is making it possible to explore it. More than just tools used for video games, augmented reality (AR) and virtual reality (VR) technologies are finding their way into the telecommunication and manufacturing industries, where they help bridge the gap in communication with remote areas.
Major tech companies like Facebook, Google, Samsung and Microsoft see value in VR. Each has developed its own interpretation of the next-generation VR and AR headsets that they hope will be the next big computing platforms. AR, in particular, has had a huge transformative impact on the healthcare industry, with solutions such as Microsoft’s Hololens used to train medical professionals. VR has also been effectively used in treatment for a variety of ailments, including post traumatic stress disorder, anxiety and depression.
Locally, the Home Team has begun experimenting with VR tech to create realistic training environments. This reduces safety risk through physical training, and improves efficiency by reducing the need for setup of training equipment.
From a more commercial perspective, Ikea has launched an AR application that allows potential customers to use their smart device to “place” 3-D models of furniture items in their homes and see how it looks, before buying it.
Similarly, Facebook plans to work with businesses to use AR technology to show off products via Messenger.
The advent of stand-alone VR headsets like Oculus Go is set to make the technology more accessible, as such headsets do not require a plugged-in smartphone or a high-end computer to run on.
03 5G Technology
The power of connectivity has the potential to fast-track innovation and drive economies forward. The coming advent of mobile 5G, also known as fifth-generation networks, could prove to be game-changing.
The average 4G speed is about 18Mbps, while 5G speeds are expected to go up to 1Gbps, which is quicker than fibre broadband. Telecommunication companies around the world are already testing 5G in cities, while hardware manufacturers like Nokia and Qualcomm are creating 5G prototype devices that would eventually make their way into the tablets and smartphones of tomorrow.
5G promises to be the connective tissue that binds emerging technologies such as the Internet of Things devices to power smart cities, autonomous vehicles and delivery of VR content to consumers. In Singapore, major telcos such as Singtel and Starhub have already started 5G trials, with promise of the fifth-generation mobile network technology to be available by next year.
04 Internet of Things
The barrier between physical and virtual things is slowly being broken down, thanks to intelligent sensors that are all around us. These devices are all connected to a unified network called the Internet of Things (IoT). Tech companies, big and small, are trying to make their mark on the IoT field, including Intel, Qualcomm, IBM and Microsoft.
Statistics from Statista estimate that there would be over 75 billion IoT devices by 2025 and the market is estimated to be worth more than US$1 billion (S$1.4 billion) annually from 2017 onwards. While IoT is often associated with smart consumer devices, it promises to bring greater efficiency and productivity to businesses too. For instance, Zebra Technologies sells trackers that use radio frequency to tag items in warehouses, offering real-time visibility of inventory. Other applications include helping sports teams improve their performance – American football players in the National Football League, for example, use radio-frequency identification chips to track their movements across a field, to help coaches formulate better strategies.
05 Blockchain Technology
There is a lot of hype surrounding blockchain technology. Its advent shows that it is possible to build decentralised ledger networks that offer complete transparency to users, allowing them to verify data and information. It is a powerful breakaway technology that has largely been associated with cryptocurrencies. Blockchain is also used in the transaction of smart bonds, aiding in simplifying processes, reducing error and eliminating the need for intermediaries, which is useful in the transaction of high-value assets such as property, cars or company shares. At the same time, it can be harnessed in the context of governance and education, such as securing voting systems during elections, or in verifying an individual’s certification and qualifications. Blockchain can also be used to combat the spread of fake news over Facebook and other social media, by creating a network where every individual can be identified, and information that is crowdsourced can be verified.
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Photos: Owen Beard, Billetto Editorial, Fabian Albert, André François McKenzie & Balázs Kétyi on Unsplash.
- TAGS:
- 5G Technology
- Adext
- Artificial Intelligence
- Augmented Reality
- Blockchain
- Darktrace
- General Electric
- Hololens
- Home Team
- ibm
- Ikea
- intel
- Internet
- Internet of Things
- Microsoft
- National Football League
- Nokia
- Oculus Go
- Qualcomm
- Samsung
- Singtel
- Starhub
- Statista
- Tech
- Technology
- Telecommunications
- Virtual Reality
- Zebra Technologies