Sweeping technological developments such as IoT, Big Data, and AI have a far-reaching impact on the functioning of governments, business ecosystems as well as everyday lives. Putting this double-edged sword to its best use lies in how responsibly we incorporate it for development of all rather than few.
The world is plunging into an unprecedented era of technological revolution. It has made foretelling what the future holds a difficult task, though one can make a few educated guesses. Connecting the dots on how technology has evolved over the last few decades is a good start in identifying the road for the future.
From landlines to pagers to smartphones, the last 50 years of electronics and computers have brought about far-reaching changes. Today, digital technologies are defining businesses and are an active propeller of competitive advantage. We have seen game-changing business models emerge, based purely on technology, owning no assets and yet packing a serious punch against long-established incumbents. The erstwhile equation between business and technology has been redefined, with these virtual entities setting stellar standards in customer experience.
DATA WILL BE KING
As we step into the Fourth Industrial Revolution, an organisation’s ability to interpret data from the external world and make intelligent insights will become a key business growth driver. Additionally, machines and computers can be made to learn and revise the models by churning vast volumes of data with very high velocity to ensure that the generated outcomes are on real-time. The adage, ‘Knowledge is power’ would still ring true as data will be king and ownership of data will be a definite competitive advantage.
Our robotic brethren will helm the next technological revolution through spheres of Artificial Intelligence (AI) and machine learning. Next-generation drones and robots would be smarter, lighter and faster than today’s versions with single board computing footprint, robust connectivity, advanced processing power and longer battery life. Such improvised drones can avoid collisions with bi-directional detection, an electronic speed controller that recognises propeller obstructions and provides indoor and outdoor flights with autonomous ‘sense and avoid’ capabilities.
OF IoT and 3D PRINTERS
Internet of Things (IoT) is a technology that places sensors in desired places, which can collect all sorts of data in the surrounding environment and allows devices connected to the web to interact with each other. For example, the GE aircraft engine receives all kind of data on the run, transmits them to the people on the ground where data analytics and simulations can point out the issues so that by the time the aircraft lands, the maintenance team precisely knows what to do. Upwards of a trillion sensors will shortly be gathering data from devices, wearables, drones, robots, satellites, cameras and the like.
3D printing of objects in materials ranging from plastics to glass, metals, ceramics and even biological substances have gained much ground in recent times, with organisations like GE, Airbus and Boeing going the extra mile in such efforts. Interestingly, doctors are now using 3D printing to check complex anatomical disorders and practise critical surgeries on 3D printed life-size human body models. A Chinese firm is printing an entire house using 3D printer technology. It is not too hard to imagine a day when 3D printers will be an integral part of every home, as much as printers are these days.
