Top Technology Trends to Expect in 2018
The world and the technology we see in it are increasing at a brisk rate. We see newer and better technological updates make their way to the top of the ladder almost on a routine basis. What the constant development of technology over the last decade or so has demonstrated, is that we now have a wide range of possibilities right at our fingertips. There is nothing holding us back from glory on the technological front, and if recent trends are anything to go by, we might see the continuity of these innovative trends in 2018.
One thing that can be considered ideal for predicting the future is that the best way to know what will transpire in the future is to read and study about the people creating it. After extensive research into this topic, we have finally reached the ultimate conclusion, in the form of a list of technological trends that you can expect during the current year. 2018 recently dawned on us and the way things are currently processing and moving forward; we can expect greater and better things during the year.
Considering that it is always beneficial to know about technological innovations in advance, we have made this list to not only educate readers but also to help them realize what they can expect during the year.
Here we have some of the most impactful technological advances to expect during the coming year.
IoT Becomes BIoT
One of the biggest mistakes made by most predictors is the flaws in understanding the potential that the world has today for rapid growth. The wave of rapid growth and enhanced innovations has only been possible through the concept of the hyper-connected world. The only reason why the automobile industry took so much time to catch up across the world was that of the lack of infrastructure and roads. We had pre-existing advancements in the automobile sector for a long time, but automobiles were left limited for a very long period due to the lack of proper roads and gas stations. But, the infrastructure today is much better and advanced, as compared to what it was back in the day.
The disruptive nature of innovations nowadays has meant that the current infrastructure we have for mobile devices places most major protagonists or companies just a mere few clicks away from reaching out to potentially billions of customers. One of these rapidly connected and developing technologies is that IoT or the Internet of Things, which basically involves the addition of smart sensors to connected smartphones or internet devices so users can enjoy a certain amount of connection-convenience. Users can use Amazon’s Alexa assistant that works on the concept of IoT, to do something as trivial as turning off a light or placing an order for pizza!
With the popularity of IoT, comes another disruptive technology, which is also gaining popularity by leaps and bounds. Blockchain, which is the technology behind the cryptocurrency wave of bitcoin and other cryptos is considered to make the use of IoT devices even better and useful. The use of blockchain in IoT will help create a basic digital record across thousands or millions of computers, and would eventually vastly reduce the imperative risk of hacking.
The combination of IoT with blockchain would lead to the creation of something like BIoT. This amalgamation ushers in a whole new era of opportunities and new services for businesses to implement. For example the interconnection of blockchain and IoT can lead to the better tracking of shipments for pharmaceuticals and also the creation of smart cities where the concept of better heating and cooling systems would save energy costs. The concept of the smart city also leads towards the efficient traffic control management system that can provide a better flow of traffic through efficiently managed traffic lights during rush hours.
The technology of BIoT will herald the start of Application Programming Interfaces during the year 2018. Application Programming Interfaces are basically the software used for connecting databases of a varied nature across different consumer services. The amalgamation of BIoT will mean that getting data from sensors placed in a warehouse or accessing websites through our mobile phones would be easier than what it is now.
The distribution chain and eventually the supply chain can benefit from sensors embedded in products. All the retailers, manufacturers, transportation companies and regulators can have a better flow of data related to product management with the implementation of a concept that merges both blockchain and IoT together. Perhaps the most important benefit that both companies and consumers would get from the addition of blockchain to their IoT is that they would now be assured of the fact that their data is safe and cannot be hacked into.
Although bitcoin and other cryptocurrencies along with the blockchain technology stole the headlines in 2017, mobile and social payments have changed how things worked in the financial markets. In China alone, the volume of mobile payment now exceeds over $5 trillion on an annual basis.
With newer innovations coming out Fintech is at a renaissance stage that can impact how transactions are done in the future. Not just the blockchain and smart crypto’s, we also have smart contracts now for handling settlements in a more thorough manner. Moving into 2018 you can biometrics such as voice ID, fingerprints and facial recognition to make shopping and payments an even quicker and safer experience.
Shopping will be boosted through biometrics because you no longer would have to swipe your credit card and will also have more assurance considering the verification requires your physical presence. For instance, instead of swiping your credit card and waiting for a receipt and all the formalities, you can now have a merchant scan your eyes with a smartphone. The concept of retinal payment is developing and could soon be common.
A clairvoyant could even predict how we can see retailers jumping on the cryptocurrency bandwagon in the future. Retailers would have their own crypto’s and might start issuing currencies of their own by next year. There is also a lot more green predicted to be seen in Fintech over the period of this year as cryptocurrencies have now crossed the $300 billion value in total sales. There is also the financial incentive for Fintechs for investments in quantum computing. Quantum computing is the growing process and based on what we have heard of it, the prospects really are enlightening. By involving the behavior of energy quantum computing will make simple computing functions a million times faster than the microprocessor speed of today. The investments in quantum computing will make room for more innovation in Fintech.
According to some estimates, the mining of cryptocurrencies like Bitcoins takes more electricity than what is being used in 150 countries combined. The growing carbon print of bitcoin and other cryptos has meant that we now need a rapid solution. Quantum computing seems to be the perfect solution as it has the potential to reduce the 28TWHs of electricity that is currently being consumed by computers mining and processing bitcoins all across the globe.
Moreover, analysts have predicted and anticipated that banks will be deriving more than $1 billion on an annual basis from cryptocurrencies based on the blockchain. This amount of money is expected to be derived over the coming couple of years as traditional financial systems look to treat cryptocurrencies and other digital assets in a way similar to fiat currencies and efficient payment systems. By going green to reduce the amount of energy being consumed in mining and processing cryptocurrencies, Fintech organizations will eventually start earning a lot more green.
Before the concept of smartphones had come out around a decade ago, people would have thought of staring at a phone for 5 hours in a day crazy and overwhelming. But that perception was changed as smartphones came out and people started concentrating on their smartphones more than anything else. Well, one thing we can expect in 2018 is an end to the bent-neck trend of sitting over your smartphone doing nothing during the day. The trend for staring at your phone is reversing itself and humans can now expect to do more physical excursions, thanks to Augmented Reality.
The mobile game that took the world by storm during 2017, Pokémon Go, has unleashed a world of demand for entertainment concepts revolving around Augmented Reality. Many major brands have taken notice of the potential in AR and are looking to introduce it into their products and services. Thanks to the launch of the convenient and affordable AR glasses, we can now keep our phones in the pocket and use Heads up Displays or HUD to improve how we play, shop and work.
HUDs, which our best known for their use in fighter planes where fighter pilots use them on their windshields or visor, are expected to become a common fixture in consumer entertainment and eyewear. One example you can consider to gauge the effectiveness of this method is that of walking through a new country and automatically translating all signboards and hoardings using your trendy glasses.
AR is expected to customize the in-store experience in retail by rivaling any online site through the use of body-match mannequins. Moreover, merchants can effectively amalgamate AR with packaging to automatically demonstrate videos whenever you look at a certain product on the shelf. Celebrity spokesperson can also magically appear now in the middle of the aisle to pitch a product. Li-Fi, which is a new light wireless connection with data speeds more than 100 times that of Wi-Fi, is expected to bring out HD virtual objects in stores. With the use of AR and Li-Fi retailers can exercise limitless virtual inventory within their stores at a scale that is unprecedented.
This enhanced selling style through the use of AR means that combing real and virtual factors will enhance the experiences enjoyed by consumers. For most of us 2018 will mean the start of an augmented life where AR brings the information people need, without them having to ask for it.
Welcome the Bots
We have been in communication with bots for the last half a decade, without realizing it. From making reservations for our airline tickets to confirming account balances, our communication with bots goes back a couple of years. However, the use of bots will expand from just automated service responses to a routine part of our daily living. 2018 will be the year this actually phases out considering how things went in 2017. Numerous bots powered by AI or Artificial Intelligence saw the light of day during the last year and it is expected that the pattern will continue moving into the future as well.
2018 will see the arrival of the home bots that will do a lot more than just responding to our queries. Besides just letting us know time information including our prescription timings or answering our queries related to the weather outside, home bots will make us feel more privileged and at ease. The bots might even make you feel like the ancient knight Don Quixote, who was pampered by the services of the servants in Sancho Panza. Similarly, your home bot will pamper you with their services and will always be at the ready to cater to whatever you may need or want at whatever time of the day.
You can imagine the extent of how bots will help us out by taking the example of a bot whispering in your ears to warn you about the latest purchase considering it will be over your credit limit, or even letting you know when your parking meter expires. Bots will not just act as the perfect financial investment advisors, but they will also help us out with daily chores such as helping out with our children and managing power consumption. With our mobile phones in our hands, many businesses will even be concerned about creating chatbots, because bots of all kinds are the future in 2018 and beyond.