As enterprises in every industry sector look to technology to facilitate their own transformations, the opportunities for technologists with business savvy have broadened considerably.
What business technologists are keeping an eye on:
- 5G – beyond speed improvement for communications and entertainment, this tech is expected to unleash an IoT (Internet of Things) ecosystem where networks can serve communication needs for billions of connected devices with the right balances between speed, latency and cost.
- Metaverse – technologies that make up the metaverse can include virtual reality and augmented reality but is not exclusive to VR and AR, it can be accessed via PC, game console or smartphone.
- Blockchain, the foundation for the digital currency, has enormous implications not only for the financial services industry, but for any company that intends to manage currency in the digital age. The future of the metaverse is likely tied to blockchain.
- NFTs – “Non-fungible tokens” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind digital art piece, however, is non-fungible. Or how about the very first tweet on Twitter?
- XR (Extended Reality) combines AR (Augmented Reality), VR (Virtual Reality) and MR (Mixed Reality) under one umbrella.
- IoT (Internet of Things) refers to the billions of physical devices that can connect to the internet, collecting and sharing data. For consumers, this means interacting with the global information network without the intermediary of a keyboard or screen; many everyday objects and appliances could take instructions from that network with minimal human intervention. For business, this means even more streamlining and automation in manufacturing and delivery industries.
- AI (Artificial Intelligence) and ML (Machine Learning) are making use of the mounds of data being mined, collected and consolidated.
- RPA (Robotic Process Automation) is the technology that allows anyone today to configure computer software, or a “robot” to emulate and integrate the actions of a human interacting within digital systems to execute a business process.
- Cognitive technologies such as NLP (Natural Language Processing), speech and pattern recognition are being embedded into software applications, imbuing big data with superior capabilities. Siri and Alexa are already embedded in most people’s lives, imagine having this tech available in every application you use.