Digitization has changed the way we live and work. With each passing day, more and more digital assets are becoming available to the general public. It is no longer enough for businesses to own physical assets, such as factories, warehouses, or retail stores; they now need to be able to operate efficiently in a digital world. Digitization has evolved many core technologies with each passing year and it shows no signs of stopping any time soon. The pace at which technology evolves is accelerating at an exponential rate, leaving traditional industries behind in its dust. This article provides insights into 5 important technologies that have evolved from digitization — not only today but also in the years to come.
Artificial Intelligence (AI) has been on the radar of most entrepreneurs and corporations for more than a decade now. The growth of AI is expected to revolutionize the way we operate and conduct business in the future. AI systems can learn and make decisions by analyzing data. The best part about AI is that it can be applied to any type of operations. Industries such as healthcare, financial services, and even retail are using AI to improve productivity, reduce costs, and enhance customer experience. AI systems can be used for routine tasks, such as finding a specific customer’s data or tracking inventory. They can also be used for more complex tasks, such as diagnosing a patient’s condition or predicting customer behavior. In the future, AI will be a key enabler for several key areas, including autonomous cars, smart cities, and digital health systems.
The blockchain is a decentralized ledger that functions as a digital record of transactions. This technology has been the talk of the town ever since it was introduced in 2009 — it might be one of the most important technologies to have evolved from digitization. Blockchain can be used to store and transfer almost any type of asset. The asset can be a currency, a commodity, property, a financial instrument, etc.
Bots have been around for a while, and they’ve become more and more capable over time. Artificial intelligence has revolutionized the way bots work. Now, bots can understand users and their needs, and they can even react to a user’s input. Chatbots can perform many different tasks and are now so common that many businesses have started to use them as customer service agents. Chatbots can be used for many different purposes, such as ordering food, managing appointments, managing bills, managing finances, managing travel itineraries, ordering gifts, booking tickets, and more.
Internet of Things (IoT)
The Internet of Things is another important technology that has evolved from digitization. The IoT is a network of devices that operate via the Internet, allowing data to be transmitted between them. The IoT can be used to collect data from different types of sensors. An IoT sensor is a hardware device that measures physical occurrences, such as temperature, pressure, humidity, etc. Using this data, technologies such as machine learning and artificial intelligence can be used to provide insights, such as predicting customer behavior or managing energy usage. IoT has the potential to create a host of new applications, one of which would be Smart Cities. Cities are shaped by data, and the IoT can help cities become more sustainable. For example, sensors in cities can tell us how much energy is being consumed by traffic lights, which can help cities become greener.
Augmented Reality (AR) & Virtual Reality (VR)
These are the last additions to the list of important technologies that have evolved from digitization. Augmented Reality and Virtual Reality have been the talk of the town in the tech and gaming industries. AR and VR can be used to create a host of new entertainment applications. Moreover, AR is a type of technology that superimposes computer-generated images onto real-world environments. Therefore, it uses a combination of visual, audio, and spatial cues to create a perception of enhanced surroundings. It can also be used by businesses to provide better customer service and create more engaging digital advertisements. VR, on the other hand, is a type of technology that immerses users in digital environments created by computer algorithms. It is used for a wide range of applications, including training, education, and business applications. The best part about VR is that it does not require users to be physically present. The technology can be used to train engineers and doctors remotely and allow for more effective communication.
The future of technology is highly unpredictable and will continue to evolve at an exponential rate. This article provides insights into 5 important technologies that have evolved from digitization — not only today but also in the years to come. The pace at which technology evolves is accelerating at an exponential rate, leaving traditional industries behind in its dust.
Written by: Nadeen Hamdy
Kashier’s Marketing Team