According to Fundera’s report “10 Businesses to Start Now to Be Rich in a Decade”, if you want to be rich in the upcoming decades, you need to be in the tech industry. What this means is that technology is taking over every single industry and tech businesses will become very lucrative in the future. According to Forbes, the forecast output growth of technology is 135 percent.
Technology is driving change at almost every industry and automation has become the most crucial aspect of any business. Robots don’t rest or need vacations; that’s why technology also means more money for most companies. Artificial intelligence and other tech trends have impacted almost all sectors. In this article, we’ll show you how technology is disrupting most industries.
Internet of Things
IoT is a discipline that involves interrelated devices that are connected through the Internet. Although it looks like something new, the concept of this technology was first developed in 1999 by Kevin Ashton. However, some people also point to some references in the 70s with the concept of “embedded internet”.
Today, IoT is almost everywhere; from smart thermostats to smart TVs. The IoT trend is impacting several industries such as healthcare, television, and even the agriculture industry. IoT helps doctors improve their patients’ lives, not only because they can automate processes, but also because they can improve diagnosis. There’s an innovative solution that has recently been approved by the US Food & Drug Administration: digital pills.
Digital pills are digestible sensors that help doctors monitor what’s happening inside the stomach. They have digital sensors that detect movement in the stomach.
On the other hand, IoT-driven farming machines can optimize the process in the agriculture industry. With these devices, farmers can avoid using too much water or they can even detect climate change.
Artificial intelligence is a computer science that makes computers able to perform human tasks without intervention. Artificial intelligence is driving change in almost every single industry. Some of the ones that are more affected by artificial intelligence are the transportation industry, digital marketing, retail, and the manufacturing industry.
Artificial intelligence is a key factor of automation. Therefore, it is threatening most jobs that require repetitive tasks. In the manufacturing industry, robotics and AI are replacing many jobs. According to the BBC, up to 20 million factory jobs could be lost to robots and AI.
On the other hand, experts believe that the role of drivers could be replaced by autonomous cars. However, today they still have some issues to solve. There was a problem with Uber’s autonomous cars because they were caught when crossing the streets during a red light. This could be improved with smart traffic lights. These traffic lights would be powered by IoT and connected to autonomous cars.
The digital marketing industry uses AI to improve the customer service experience. Chatbots are powered by AI, therefore they’re available for users every day regardless of the hour. This way they can have answers to their queries immediately.
Today, all businesses are data-driven. Therefore, protecting data is crucial for them. One of the most common solutions for data protection is cloud computing. Maybe in the past companies used to save their data in their office. However, today most companies prefer to store their dataset inside a cloud. Cloud computing also makes it easier for companies to share information with their customers more easily.
Technology disruption is inevitable. Some of the strongest tech trends that are driving change are artificial intelligence, machine learning and IoT. If we want to stay afloat, we need to continue learning new tech trends and use them in our favor. Resilience could be one of the most important soft skills in the future.