5. Augmented Reality (AR) and Virtual Reality (VR)
Augmented and Virtual Reality are among the top technology trends of the 1st century. Both technologies are very useful in many ways to businesses. Augmented reality is a technology that works on computer vision-based recognition algorithms to augment sound, video, graphics, and other sensor-based inputs on real-world objects. It uses the camera of devices to perform.
AR is a good way to render real-world information and present it in an interactive way so that virtual elements become part of the real world.
AR is being used to make our lives easier. AR aids in the development of translation apps that can interpret a text in different languages. Video game companies are using AR to create more games and offer a more realistic experience. Google Lens is also an example of AR.
6. 3D printing
This is a digitally-operated manufacturing technology where physical objects are printed through a 3D printer on the basis of a digital 3D model specification. In this technology the process of manufacturing is an additive one, implying that it takes place layer by layer instead of shaping a larger object into the required shape.
Production through a 3D printer is executed by enabling an object to be printed in successive horizontal layers of materials such as plastic or metal till the object is properly produced.
7. Digital assistants
A digital assistant is basically an advanced computer program that emulates an interaction with the people using it, generally over the internet.. They are generally represented through technologies like Robotics Process Automation (RPA), chatbots, and voice assistants. These assistants will aid future organizations in meeting the demands for productivity, accessibility, and quality while also improving response times in terms of customers or employees.
8. Blockchain
A blockchain, in layman's terms, is a transactional database where each involved party generally has access to the same information regarding the transactions. It is difficult to alter the database information except if the majority of participants are in agreement that this alteration is in harmony with the defined rules for an approved transaction.
Blockchain enables the execution of secure transactions among multiple parties while eliminating the need to verify the transaction with a third party. It establishes trust among the parties within a network that would be communicating. This technology has an integral role when it comes to innovation and value creation.
Conclusion
“It has become appallingly obvious that our technology has exceeded our humanity.”
- Albert Einstein, Scientist
Technology is the biggest gift humans have given to themselves. Our reliance on it is increasing day by day and, as it seems, it will increase further. Staying ahead in the market is the biggest challenge for any firm as the competition is fierce and market dynamics changes quickly. Technology helps businesses to keep up with the changing market.
We have tried to explain the ways in which technology helps a business. Also, some specific technologies which are trending have been discussed. AI, ML, Cloud Computing, AR are all equally useful to firms and to us as well
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