Technology is advancing rapidly with services and things becoming digitally enabled. Trends like Artificial intelligence are getting embedded into almost everything like appliances, hospital equipment, speakers, and phones. With the emergence of new business models, organizations are likely to imbibe the following strategic technology trends.
Digital Twin is a software or cloud based model of a physical object or a system. It depends on a sensory data to react to changes and show improvement in operation. Platforms using Intelligent maintenance system and prognostics can use this cloud based model to show any improvement in productivity and for the simulation of real world conditions. Digital Twins comprise of an amalgamation of event data, meta data, analytics, and conditions.
Organizations use Digital Twins to repair equipment, operate factories, predict equipment failure and to facilitate product development. Digital Twins will slowly and gradually take the place of skilled workers and devices used for monitoring such as valves and gauges.
AI & Advanced Machine Learning
As technology is advancing, Machine learning and Artificial intelligence are becoming a most sought-after trend. AI and Advanced Machine Learning has technologies like natural language processing, deep learning and neural networking that can enable advanced systems which are endowed with features that can help you in understanding, predicting, adapting and learning. These systems can bring a change in behavior which will help in the development of more intelligent devices and programs. The amalgamation of processing power, massive data, and advanced algorithms have contributed to the evolution of this trend. In banking, AI is used to model real time transactions and to detect transactions which are likely to be fraudulent. Organizations who wish to incorporate this trend will have to analyze numerous business scenarios in which AL could enhance and add value. After this evaluation, businesses can experiment with a few high impact scenarios.
Intelligent Things are categorized into robots, autonomous vehicles and drones. Each of these segments has been impacting many segments of the market including digital businesses. Intelligent things will include IOT devices in the future which will become responsible for delivering the power of AL enabled systems such as a factory, home, office and medical places. As the popularity of intelligent things increases, they will evolve into a collaborative model through which many Intelligent things will coordinate with each other to ensure the completion of tasks. Very soon, Intelligent things will take over many organizations and even homes.
Are you ready for technology to take over your home or business?