The world is moving into an evolutionary phase with regard to technology and digitization. Some call it the era of "Digital Darwinism" where in the rate of technologies emerging throughout the globe is extremely high and rapid. With the governments supporting this digital era, the five specific digital forces are emerging throughout the globe which are Social, mobile, Analytical, Cloud and the Internet of things. These forces are creating better and valuable sources of information in both business and social domains through data interpretations and cost-effective methodologies.
Taking into consideration India, the value of digital has grown manifold as per the study of world Economic Forum. They have proposed that only four digital initiatives can potentially unlock 1.2 Trillion US dollars for the Indian industry and the society in the forth coming decade which is almost 40 percent of the total national GDP in 2015.
Following this wake of technology and digitization, a number specific technologies have risen to be dominate the global industry. The notable of these few include the following.
The rate at which E-economy has emerged in the banking sector is astounding. Only in a few years, all the banks in the Indian market have e-wallets, digital banking, mobile banking, virtual cards,etc. This has happened with the consumer's rise in exposure towards such means and mediums of transactions. Even private non-banking agencies are rapidly making their move into the E-banking and E-payments market making it a tough competition and the consequential growth in the technology.
Another one in the domain of digital banking and finance is the name Block-chain. The related venture investment in block chain technology has crossed billions of US dollars in the previous years and proves the economic and social impacts that blockchain can have on the world and have an extensive and widespread effect on the market and governments and how they deal with finance. Banks all over th globe are aiming to use block chain technology for various financial operations such as money transfer, record keeping, back end functions and more.
Probably the hottest trend in the current digital industry, Artificial Intelligence claims to provide resources and potential which cannot even be imagined in the current times. The amount of resources and time that the top organizations like Google, Facebook, Microsoft, Tesla, etc. are putting in AI is a proof of its potential which is yet to be unlocked to even a small proportion. An amalgam of AI, machine learning, Deep learning, and Data sciences is here to change the entire digital industry.
The explosion of Internet was the last known most widespread technology that reached the masses like nothing else ever did. Augmented Reality and Virtual Reality has the potential to become the next such explosion owing to its commonality of user base and application virtually everywhere ranging from social platforms to top notch and highly sophisticated industrial applications. Augmented and Virtual Reality aims to change the face of communication, interaction, user experience, and entertainment forever and extensively.
Internet of things has already become rampant in the entire industry and aims to cover the globe within the next few years. It is estimated that by 2020, more than 30billion devices will be connected across the globe. This paves the way for Nano internet of things which can possibly make this concept of connecting devices more complicated and sophisticated still. With smaller nano-sensors attached to human bodies, devices, structures and day to day objects, device to device interaction and human machine interaction will become increasingly sophisticated an widespread.
These two terms have become synonyms with technology in the past two years at an astounding rate and their culmination cannot be seen any soon. From automated testing scripts for softwares to driverless cars, Robotics and Automation is spreading out its arms far and wide, reaching out to every nook and corner of the industry. Robotics and automation currently spearheads the digital industry and aims to change it forever as we see it.
A collusion between big data and application development seems like match made in heaven an it is really happening out there. The combination results in intelligent apps which have the capability to perform much more complicated operations by combining the customer, product and operational insights. Several organizations endeavors such as Cisco's procurement of AppDynamics IPO notifies that the future is fraught with Intelligent applications.
Currently named in the top ten technology trends of 2017 in the Gartner list, digital twin aims to couple with Internet of things to provide never before known capabilities to the industry and the consumers as well. In simple terms, digital twin is a simulation model of any process, product or service which allows a better analysis of data, monitoring of information and preparation of the future with reduction in downtime.
With the rise of networking and communication, low power wide area networks are the future of networking technology. Created both for machine to machine and machine to human LPWAN can tackle networking problems while operating at much lower costs and with much greater power efficiency than the current mobile networks do.
Nobody can deny the increasing importance of security infrastructures related to both network and systems. In such scenario's Adaptive security is playing a major role in revolutionizing the entire System Security domain using very sophisticated algorithms. In essence, Adaptive Security works on behavioral patterns of the risk causing agents rather simple files and programs. This allows the system to adapt and response to an environment which is constantly changing.
IndiaStack is essentially a set of APIs which provides the governments, businesses, startups, and developers in order to make use of the growing digital infrastructure of India. This is in line with the Indian growth towards a paper less , presence less and cash less service delivery. Indian Stack is about to connect more than 3 billion people across India gaining a customer base which is never before known in the indian market.
Dspace is essentially an open source repository software package which is used for developing open access repositories for publishing. Dspace Repository combines the features of content management system and document management systems to provide the perfect amalgam for the purpose. The repository acts as a digital archives system which focuses on long term storage, access management and the preservation of the digital content.
MaaS360 is a mobile device management tool distributed by IBM which provides visibility and control of all the popular Mobile operating systems including iOS, macOS, Android and windows. And all of these through a unified cloud platform providing a single control view. It provides the advantage of over the air seamless device enrollment to manage the devices in very short time spans.
Tableau is essentially a business intelligence software and specializes in visualization of data derived by relational databases and data cubes. Tableau provides a mapping functionality while plotting latitudes and longitude coordinates along with the option of geocoding and is available on desltops, serves, online, Readers and public. The tool has also been released as a mobile application called Vizable in 2015.
Trackwise is a Quality Management software widely used in the sophisticated domain of Quality management and assurance. It provides the ability to bring all the quality processes together in a single place for single view control while offering various types of workflows which can adapt to the different types of processes and needs.
More of a standard than an technology tool, Autosar is a worldwide partnership of automotive organizations across the globes founded in 2003 in order to pursue the objective of developing open and standardized ECU systems. The goal is to provide scalability towards different vehicles and platform variations. This system is bound to be endorsed by every major automotive organization with the passage of time.
Electronic data interchange or EDI is not a very new concept or technology and has been around for quite sometime. Its recent advancement and requirement has risen due to the rise in the digitization of the industry and the growth in the data being transacted and transferred all over the globe. As the world is moving towards an increasingly paper less technology, the growth of EDI is happening at a very fast rate.
BluePrism Automation tool is a Robotic Process Automation technology which provides the organizations with digitization and enhanced capabilities which provide rule-based business processes while interacting with the organization's system similar to that of consumers and users. Built on the Microsoft .NET framework, the technology is currently widespread throughout the industry and is growing at a rapid pace.
Cognos is an analytics software tool provided by IBM which has unique way of providing insights which are data driven, explore them and take decisions. Using Cognos, it is possible to find precise and timely answers from the data and also create very compelling and effective reports for presentations and other demonstrations. Distributed by IBM, Cognos is rapidly spreading across the global industry as integral part of many tech giants.
It is no longer an ambiguous notion that it will not be long before the petroleum resources will be too scarce to be used widely and thus, Electric mobility is as inevitable as the sun rise and the sunset. The world wide Automotive organizations are rapidly rushing towards electric mobility and it will not be long before electric vehicles take over the automotive market.
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