Emerging technologies and the startups that are indulging in those technologies are set to change the way we live and do business. The speed of change has never been felt to be so fast paced, and the path is breaking.
The sole of your shoe has come undone, and you do not have time to browse and order online or, god forbid, visit your nearest showroom to replace it? Use your 3D printer to ‘print’ your shoe and get back to the jogging track.
As a corporate, you have to sift through analytics and big data to understand messages that are coming from your clients. Business Intelligence and Analytics will help you to gain insights where the spurt in revenue is coming from and using predictive analytics; you can align your resources to be deployed for the next big spurt.
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Also, there would be ~50 billion devices that will be connected to each other to form the Internet of Things (IoT) ‘talking’ with each other. There will be smart machines that will collaborate with each other to reap efficiencies and reduce the carbon footprint of the planet. The emerging technologies will reduce some of the pain points of living, running businesses and way we connect with each other. Some of the technologies that have started to enter our lives are 3D printers, IOT devices, and Unmanned vehicles. Let us look at them and how they are impacting us.
Over the past few months, 3D printers have caught the fancy of the world because of the immense potential the technology holds for the world. The applications of a 3D printer are so diverse that it is hard to imagine where it cannot be used. Imagine a car manufacturing factory that relies heavily on the supply of raw materials which number is thousands to make one car. Now imagine if the factory can print those parts using the 3D printer at the factory itself.
With one fell swoop, the car manufacturer is eliminating the thousands of trips made by lorries and trucks to deliver those parts, thus reducing carbon footprints of the planet. Also, the stockpile storage is real estate cost. When you are in a position to print at will, you save on those real estate related cost.
Internet of Things
Internet of Things (IoT as it is commonly referred to) is a construct where everyday objects are interconnected via the internet and communicating when necessary. Running out of eggs? Your trusted refrigerator sends a text message to your favorite grocery store with the stock quantity needed and it gets delivered to your doorstep. Feeling sleepy at your home office desk? “Tell” your coffee machine via your handset and your coffee is ready without you even pressing a button on the coffee machine. Wearing a purple shirt? Your box of mascara will suggest the color palette to go with for the day. The underlying takeaway from these examples is that usability of technology will be interwoven in the product itself making us less reliant on static interfaces such as PCs and mobiles.
Autonomous vehicles are being employed by Uber to launch their driverless cars and Commercial UAVs (unmanned aerial vehicles) being used by Amazon and Pizza Hut to deliver their packages. Smart dust, which comprises of many tiny microelectromechanical systems (MEMs) such as sensors are being used for detecting temperature in a movie theater and adjusting the thermostat accordingly. These are some of the hottest technologies that will eventually see the commercialization of the concepts so that they become affordable and get integrated into everyday use.
Emerging technologies are border-less
It will be a fallacy to presume that such technologies will be localized in a particular region or country of the world and not be meant for others. With applications of each technology being useful in all walks of life regardless of the area of a country, it is envisaged that it will be demanded and implemented in all walks of life for wherever and whatever it is intended. Investors are evincing interest in these breakthrough technologies and are betting big. The coming ten years will see our lives transformed like no other generation could have managed to.
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Savor this – it took telephones to reach 50 million users close to 75 years. FaceBook took 3.5 years. A little game like Angry Birds took just 35 days to reach that milestone.
Instead of a “Drive Slow” sign, investors and founders are looking out for a “Drive Fast – Disruption Ahead” sign for possible technologies that will reshape the world we live in. Now whether the current breed of entrepreneurs can cash on this new science and create wealth as their predecessors did, is yet to be validated, current trends suggest that this war will be hotly contested by the existing players, as it can drive them into oblivion.