Five Technologies to Watch Out for in 2021 and Beyond
Five Technologies to Watch Out for in 2021 and Beyond
The Dot-com boom introduced us to the unprecedented potential of digitization. From Then, there has been no stopping on how digital technologies are improving our experiences across different verticals of life. We all would shake our heads in awe to accept and admire the role of digital technologies in competently solving problems and transforming our ways of life towards betterment.
No Surprise that we all are fascinated by such technologies that can build a more livable future. As we love to keep an eye on techs of the future that are poised to unlock innovations, here is listing out five technologies to watchout for in 2021 and beyond:
1. Artificial Intelligence (AI) applications in Businesses
As a consumer of services, you are using AI more than you think. The personalization you experience while shopping on Amazon, scrolling over your social media feeds or browsing through Netflix is all AI-controlled. The realm of possibilities for AI in business is vast, and companies are relying on AI systems for purposes like:
- To understand each consumer's wants and latent demand so that relevant products can be marketed to them at the right time through targeted marketing.
- To manage customer service interactions with little or no human interventions. Advances in NLP (natural language processing) have empowered chatbots and digital assistants with improved sentiment analytical capacities to communicate in a more human-like way.
- To derive intelligent business insights to aid corporate decision-making. Many AI-powered business intelligence tools, like Microsoft Power BI, are already in use.
- To improve customer engagement through predictive analytics that facilitates a high degree of personalization and relevance in product recommendations. For example, Netflix uses AI recommendation systems to recommend different movies to different users according to their previously made watching choices.
2. Cybersecurity Mesh
With the increased adoption of cloud technology and remote working culture, the organizational cyber assets, mainly data, have been pulled outside the company's security perimeter and have become vulnerable to cyber threats like data breaches. For the foreseeable future, companies will continue to work in geographically distributed environment of workers. This calls for cybersecurity beyond perimeter-centric and can ensure the protection of company assets outside the traditional security infrastructure.
Source: https://stefanini.com/en/trends/news/what-is-cybersecurity-mesh-5-advantages-of-this-top-tech-trend
This is where cybersecurity mesh is expected to play a significant role. It centralizes the security policies for an enterprise but allows distributed enforcement by creating smaller, individual security parameters around each organizational device or access point. Physical boundaries do not limit the security scope of the cybersecurity mesh. Instead of placing security walls around the corporate network only, it puts the security walls around people's identities or objects.
3. Augmented reality
Source: https://www.livingonline.com.au/blog/augmented-reality-the-new-solution-to-search-marketing/
Augmented Reality helps in superimpose digital content over the real-world environment. It provides an interactive experience to users.
The current market worth of AR technology is $15.3 billion, as per a report by MarketsandMarkets. Almost all the market leaders, be it Microsoft, Apple, Google, Facebook, or Amazon, are increasingly investing in AR/VR technologies. Apple and Google are exploring Mobile AR with ARKit 4 and ARCore, respectively. Retail brands like Lacoste, IKEA, Kohls, and Sephora, among others, are using AR to improve the shopping experience for their customers. AR holds a bright future in gaming, navigation, remote assistance, virtual manuals, remote education, health care, and likewise across different industries and spheres.
4. Distributed Cloud
It's been a while that businesses have leveraged the efficiencies of cloud computing. But hybrid or multiple cloud environments have operational, and management inconsistencies as these can be run only on the cloud provider's infrastructure. As a solution to it, you will hear more about Distributed Cloud in the years ahead.
Distributed cloud is a public cloud computing service that can run public cloud infrastructure in multiple locations using third-party data centers, other cloud providers' data centers, or colocation centers. Gartner predicts that by 2025, most cloud service providers will be providing distributed cloud services. However, the governance, evolution, and operations of the benefits remain with the host cloud provider. Blockchain technology will play a significant role in ensuring the security of the distributed cloud.
5. Blockchain
Source: https://www.cbinsights.com/research/what-is-blockchain-technology/
Blockchain is no more just technology to power bitcoin. Today, this technology has so much more to offer regarding data security, transparency, and sharing. Blockchain technology tracks data over time in a non-destructive way using the ledger method. Here, each block refers to data, and these blocks of data are linked together in chronological order, thus creating a chain. Now, the data in any block can't be changed or tempered; instead, the changes done to the existing data will get stored in a new partnership. This makes data tempering outrightly impossible.
Also, adding a new block is not that easy because Blockchain keeps data decentralized over a sizeable peer-to-peer network. So, if any user in the network wants to add a new block, then he needs to solve a cryptographic puzzle and share his proof of work with all other computers in the network. Only after verification by all, the new block gets added. Thus, it can also be said that Blockchain builds trust in the data.
Blockchain backed cloud-storage, cryptocurrency-based financial transactions, smart business contracts, data auditing, and proofing are some of the practical usabilities of blockchain technology in businesses.
Conclusion
As we talk about technology and innovations, it is not hard to gauge that the corona pandemic has accelerated the adoption pace of many digital technologies, if not by choice then by necessity. For instance, until last year, many businesses with no provisions to operate remotely are full-fledged functioning through remote workforce; many restaurants or service providers that were not online are now majorly connecting with customers through online platforms. Technology can always resolve problems and advance society forward. At Cogent Infotech, we love engaging with such technologies of the future that hold the innovative potential to resolve the issues and transform businesses and societies. We are already working and performing in hi-tech, healthcare, financial services, banking, retail, education for federal, state, and local governments.
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