Technologies That Will Take Off In 2018

by Moumita Deb Choudhury    Dec 20, 2017

Certainly, it’s undeniable that technology is becoming more and more commonplace in our present and it promises a huge leap in the days to come. Although there are some technologies which fizzle and dies away silently, there are some so significant that transmute the world we live in.

Technology

Here are some of the tech trends that will shape up 2018:

Artificial Intelligence and Machine Learning:

Though the impact of artificial intelligence in our lives and work in the coming days is debated by experts, it can be gauged that Ai is making significant strides in several applications.

According to a new research report by MarketsandMarkets, the market size is expected to grow from USD 2.61 Billion in 2017 to USD 9.88 Billion in 2022, at a CAGR of 30.5 percent.

The increasing demand for AI-based solutions and proliferation in data generation are some of the major driving factors of the AI Platform Market. Furthermore, the increasing demand for intelligent business processes and growing innovation across end-users are expected to provide opportunities for the growth of the AI Platform Market. Machine Learning (ML) tool is expected to be the largest contributor in the global AI Platform Market.

To a large extent, soon customer interaction will be managed without humans as chatbots will be deployed by businesses as the most preferred consumer applications of AI.

The Continued adoption of Big Data:

The Big data analytics sector in India is expected to gross as high as US $16 billion by 2025, as predicted by experts. This means it will record an eight-fold growth in the mentioned period and register CAGR of 26 percent over the next five years.As per the experts, India is currently among top 10 big data analytics markets in the world.

“The capabilities and agility of big data combined with the scale of artificial intelligence is helping businesses across industries to understand evolving consumer behavior and preferences, gain business intelligence and apply valuable insights when creating strategies. The convergence of big data and AI is the most significant development for businesses across the globe, enabling them to capitalize on hitherto unexplored opportunities,” said, Sudeshna Datta, Co-founder and Executive Vice President, Absolutdata.

Augmented Reality, Virtual Reality and Mixed Reality

The last year has seen significant consumer adoption of virtual assistants. Amazon Alexa, Google Home, Apple Siri, and Microsoft’s Cortana have all gained momentum as technology to help people manage their daily lives, and forthcoming technologies such as Facebook M will only build on this.

Augmented Reality (AR) is a technology which has marked its importance in spaces such as the military and aviation. It also exhibits enormous potential in the business arena. Its usage is increasing in mobile and wearable devices.

A significant opportunity for AR in the business is in the installation and maintenance of technological solutions.

Blockchain and Cryptocurrencies

The blockchain is surely going to gain more traction in the coming year.

As blockchain evolves, and new use cases emerge, the complexity and array of issues will only increase, said Srividya Kannan, Founder-Director, Avaali Solutions. 

At the most foundational level, there is limited awareness about the technology in sectors other than perhaps banking. Several start-ups are creating their own blockchains and applications to run on top, which could again lead to a siloed approach. Again, to make this transformation happen, there needs to be a fundamental shift in thinking – away from a more powerful, centralized institution to a decentralized network that is self-enabled.  Given the way they are designed, a decentralized network has a direct impact on participants and has a much less cushion. Collaboration comes with risks of losing privacy and lack of autonomy as competing companies are trying to co-operate on a data sharing platform, she added.

Internet of Things:

Businesses are realizing the importance of IoT, they are coming forth to invest in it. Technology decision makers are working towards integrating IoT in the value chain. Also, the IoT providers are gearing up with their offering to fit the bill.

The IoT will include smart, connected products like smartphones and smartwatches and that is because smart devices are continuously gathering data.

According to Gartner, In 2018, IT organizations will continue to receive pressure from business units and operational technology groups to support a variety of IoT-enabled solutions. Thus, technical professionals must address stakeholder concerns about their ability to deliver, operate and maintain IoT systems.