As technology is growing at a rapid speed, the world is going to enter the fourth industrial revolution. This revolution is certainly going to be different from the rest of the revolutions as this will introduce an interaction between the multiple technology trends at the same time.
So here are the small business technology trends that are going to impact the fourth industrial revolution.
Connect and Smart Devices
The world is already aware of the Internet of Things (IoT) for a decade now as the market has already seen the rise of smart TV, smart heating devices, and smartwatches. The trend is going to be continued in the near future as we are going to see more and more connected devices and objects that are capable of collecting and transmitting data from each other.
Therefore, it can be said that everything that can be connected is expected to be connected in the near future. The offices, factories, and even the cities will be connected, sharing actionable data from one point to the other.
Computers have become a significant part of our lives today. They have taken a significant space in our pockets, in our cars, and on our wrists. As the processing power of the computers have increased, and the size of the computer microchips are getting smaller and smaller, we are becoming used to the computers quite often. The devices are slowly becoming smarter, cheaper, smaller, and more powerful than they have ever been before. Thus, the next big leap in computing power will come from quantum computers that are fast and powerful.
The rule of Artificial Intelligence
All the data that has been generated till now will contribute to the rise and widespread use of AI technology. AI has been successful in making incredible leaps over the last few years, specifically when it comes to conventional AI. It was observed that in the year 2020 alone, the smart speakers successfully answered 100 billion voice commands which were 75 per cent more than in the year 2019.
One of the key takeaway from this technology towards the business world is, our interactions with machines have become increasingly intelligent. Thus, people in the coming year will expect more AI-capable products from businesses.
The dominance of data in the world
Ubiquitous computing accompanied by the IoT is becoming a huge contributor to the volume of the data that is being generated over the internet as well as offline on an everyday basis. Apart from all this data that is generated with the help of machines, we humans are also generating a massive amount of data through our daily activities. The best part is that businesses can make the best use of all this data to develop better products and services for their customers.
People are already aware of immersive technologies such as augmented reality, virtual reality, and mixed reality. All these technologies have been covered under the umbrella term of Extended Reality (XR). This was primarily known for its immersive gaming feature, but today, it is being used by a wide range of industries to generate highly immersive and personalized experiences for the customers and employees.
Technology is now allowing to print anything, starting from plastic, metal, powder, liquid, and even chocolate. The technology has the potential to transform manufacturing. Or, it can also be said that 3D printing gives the manufacturers the ability to develop things that cannot be developed using the most traditional methods.
Digital trust can be defined as the confidence that the users place in a business to keep the digital world highly secured. One of the most considered areas that are kept in mind here is the digital transactions that must be carried out securely. Many of the industry experts believe that this can only be possible when blockchain and digital technology advances more in this area, giving a new rise to digital trust.
Gene Editing and Synthetic Biology
This technology is one of the top technology trends that is expected to grow in the coming years. This technology can have some specific advantages at the time when bad genes are detected, which cannot endanger the health of a living being or its descendants. The new gene-editing technology can help health experts to alter these harmful characteristics.
When gene editing can be used to make small changes in the DNA, the concepts of synthetic biology can involve stitching together long strands of DNA and inserting them into an organization. The results can lead to an organization that has a completely new set of abilities.
These technologies can bring about drastic changes in the ways we produce some of the products.
Material Science and Nanotechnology
The science that studies and manipulates materials is known as material science. On the other hand, nanotechnology is the science that is responsible for controlling matter on a tiny scale at the atomic and at molecular levels. These technologies have already given us some of the best products and services, such as lithium-ion batteries, stain-resistant fabrics, and smartphone displays.
The trend is likely to grow in the near future and is likely to make a major contribution in the development of electric car batteries, and solar energy development to make them more affordable.
New and Innovative Solutions
One of the most trending, clean, and potentially inexhaustible energy solutions is nuclear fusion for the near future. But, the problem is, that maintaining a fusion reaction takes more energy than it can actually produce. As people are making new advancements in science and in the field of magnet technology, the world might soon witness a fusion reactor that delivers a significant power output over the next decade.
Overall, it can be said that all these small business technology trends are likely to bring about new changes in the business world. Al these multiple tech trends are likely to combine with one another to deliver some of the biggest changes in the business world.
Source – Forbes