The covid-19 pandemic will continue having a significant impact upon our lives even in 2022. This indicates that the digitalization and virtualization of business and society will continue to increase.
As we enter the new year, the demand for sustainability, ever-increasing data volumes, and faster computation increases. Even the network technology keeps on speeding, and gradually it will reclaim its authoritative position as one of the most essential pillars of digital transformation.
An essential lesson of the previous two years for many individuals and organizations has been that revolutionary change isn’t as challenging to accomplish as initially assumed. Therefore, as the focus moves from just surviving in a changing environment to flourishing in it, we should certainly identify the best technology trends to transform the world.
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5 Underrated Technologies Transforming The World
Several problems, including performance concerns, a lack of standards, and complexity, prevent these technologies’ widespread implementation in the near future. However, if you continue ignoring them, you may not ever go beyond watching movies on The Pirate Bay and may restrict yourself in the conventional dimensions.
1: Artificial Intelligence
Smartphones employ AI algorithms for everything from maintaining call quality to assisting us in taking better photos. From the omnipresent voice assistants to language translation to tools, AI has invaded the tools we use to carry out everyday work.
Generative AI refers to AI approaches that use data to develop a representation of artifacts and then use that representation to create brand-new, entirely unique artifacts while maintaining similarity to the original data.
As the generative AI approaches are being explored and proven across various industries, their mass increases. AI has impacted many industries, including military and energy, life sciences, manufacturing, healthcare, material science, automotive, media, entertainment, aerospace, etc.
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2: Homomorphic Encryption
Homomorphic encryption is a cryptographic mechanism that gives the data owner an encrypted result. This essentially allows third parties to process encrypted data while remaining completely unaware of the data or the outcomes.
Homomorphic encryption pioneers see that the technology’s future is related to the growing importance of open innovation investments. Thus, it contradicts the secrecy and silo mindset of traditional corporate research facilities.
Homomorphic encryption will be crucial for many future SaaS products, ensuring data security and privacy between third-party analytics providers and data processors. The most common use case will be to eliminate the current requirement to share and keep data between business partners or other comprehensive data analytics solutions.
3: Graph Technologies
Graph technologies are strategies for managing and analyzing graph data. The examination of relationships between things like organizations, persons, or transactions is possible with this category of technologies.
Relational databases aren’t well-suited for analyzing relationship data since they require a significant volume of heterogeneous data, storage, and analysis. Instead, graph technologies identify the relationship between several datasets.
Due to the vast range of possible uses for graph technology. Many of these technologies will be supplied as integrated components of current data platforms, created through resale agreements with specialized suppliers.
4: Decentralized Finance
Decentralized Finance will provide substantially more options for people to take control of their financial life, thanks to the current excitement around NFTs. Non-Fungible Tokens are a brilliant invention that allows you to verify digital asset ownership.
Regardless of the nature of the digital content, it allows you to sell JPEGs for millions of dollars. Similar to the real world, once ownership is established, an asset becomes tradable and exchangeable, driving economic growth.
Digital assets, like Bitcoin, can become scarce. Instead of having a limitless number of digital copies, digital assets might have limited editions dependent on the number of NFTs created. You can verify ownership of an NFT if you can confirm possession of a wallet.
5: Smart Spaces
Humans and technology-enabled systems interact in more open, linked, coordinated, and intelligent ecosystems in a smart space, which might be real or digital. “Smart cities,” “digital workspaces,” “smart venues,” and “ambient intelligence” are all terms used to describe such smart environments.
Preventive maintenance for building infrastructure and automated tools and billing are typical applications of smart spaces. In addition, smart places transform the way people interact with one another and influence decision-making mechanisms in various settings.
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As worker safety and social distancing capabilities become de facto standards, COVID-19 boosted the market adoption of smart environments. As a result, we’ll see more chances to deliver more connected and intelligent solutions across target settings as enterprises embrace the capabilities of smart spaces to combine new technologies like IoT.
Closing Thoughts
The five technology trends discussed in this article are only the tip of the iceberg. There are many more technologies topping the list, and they will continue doing so in 2022. That is why the plethora of business opportunities will continue opening up with the new technology trends. So, if you want to know more about it, ask us in the comment box.
