Although flying cars appear to be off the table (at least, for now), technology continues to evolve with exciting innovations by the day. And with each development, tech’s role in every person’s life becomes prominent — from making everyday tasks easier to helping boost a country’s economy. So much so that it can be hard to keep up with all the innovations happening across different sectors. To help you out we will look at what is in store for the remaining months of 2020 and beyond?
1. Artificial Intelligence
In today’s ever-evolving digital age, artificial intelligence (AI) has been a mainstay. Indeed, the New York Times notes that five out of six Americans use AI in everyday life — whether it’s navigation apps, streaming services, or personal assistants on their smartphones.
And now from this year onwards, more and more brands will be implementing AI into their business processes. Also, AI is expected to help strengthen cybersecurity, improve software application, and optimize server operations. Lastly, with contactless payment becoming the norm, the Simpliv team previously shared in an article on Artifical Intelligence that its technology can help streamline this process with its scan and go feature.
2. Machine Learning
As a subset of AI, machine learning will play an integral role in various industries as well. For instance, machine learning is a driving force in our internet use since it helps the operation of key components, such as search engines, real-time advertisements, and image recognition. Another way its technology is being utilized is in business forecasts, as it can accurately analyze data, statistical models, and the like to steer businesses in the right direction. Unsurprisingly, Forbes highlights how the machine learning industry market is projected to be worth $30.6 billion by 2024.
3. Augmented Reality And Virtual Reality
Though both augmented reality (AR) and virtual reality (VR) have been buzzworthy topics for a while, they’re both finally finding its footing this year. AR is being used to help improve the product experience for retailers with features like providing a virtual in-store experience and fitting rooms.
Not to mention, the market for AR glasses is growing, as tech giant Apple is expected to finally release its own pair called “Apple Glass” either later this year or in 2021. Meanwhile, VR has seen a significant rise in sales, thanks to recent video game releases like Half-Life: Alyx and Onward. Plus, VR is being adopted by many businesses to help with their training programs and conduct virtual in-person meetings, as they shift to a remote work setting.
4. Edge Computing
Edge computing is continuing to be a growing force. As more and more data needs to be processed by cloud computing solutions nowadays, edge computing can help certain systems properly function. From reducing network latency to transmitting data at a quicker rate, this technology will be a crucial component for the digital sphere in the coming years. What’s more, with AI devices hosting new applications, edge computing hardware like AI chips can expect a major upgrade in its performance to gather and send data to the cloud.
5. 5G Technology
5G is one of the most exciting developments in tech today because it has the potential to impact so many innovations — from consumer products and experiences, to IoT systems and smart city infrastructure. HP points out that this is because 5th generation wireless cellular technology is 70 times faster than 4G, which is currently used by most networks. The technology was introduced to 23 key US cities in 2019. This will only continue to grow in 2020 and beyond.
And with major companies like Samsung and LG releasing their 5G phones last year — Samsung Galaxy S10 5G and LG V50 ThinQ, respectively — the wireless network’s rollout is on the right track. In fact, USA Today reports that mobile carriers T-Mobile and AT&T have both launched nationwide 5G coverage. Overall, it’s safe to say that 5G is just getting started.
6. Digital Health
The healthcare industry is relying on digital solutions now more than ever. Case in point: Wearables like biosensors will be a key player for patient care management. Philips has recently released a self-adhesive patch, which collects patients’ health data (such as heart rate, respiratory rate, and temperature) as they move around. And research has found that this wearable helped reduce deterioration into cardiac or respiratory arrest by 89%.
Big data can be especially helpful for the preventive care of patients. Moreover, as 5G becomes more accessible, hospitals can soon administer virtual training, AI-assisted diagnosing, and even remote surgery.
7. Internet of Things
Even if the Internet of Things (IoT) already has a profound presence in the digital sphere, IoT shows no signs of slowing down this year and beyond. However, unlike before where it was used for mainstream consumption, IoT devices are heading towards a more practical approach. For instance, its technology is being used to advance agriculture by developing sensors to gather crops, and drones to efficiently fertilize fields. Similarly, IoT applications are becoming increasingly popular in industries, such as home surveillance, urban planning, and healthcare.
Blockchain has been one of the most hyped tech trends in recent years, you can expect it to become more accessible to the public. Once an elusive concept for many, financial institutions are implementing blockchain technology into their systems. True enough, the recently appointed head of Goldman Sachs’ digital assets, Mathew McDermott shared that the assets and liabilities of a financial system in the coming five to 10 years will be native to a blockchain.
9. Cloud Gaming
The gaming industry is always aiming to take their technologies up a notch — and from this year onwards, cloud-based gaming will be a big part of the multi-billion business’ future. This form of technology allows games to function on remote servers, and therefore stream it to a player’s gaming device.
While Sony released its own cloud-based gaming service called “PlayStation Now” in select countries, it’s meeting a major direct competitor later this year. Tech giant Microsoft is set to release its game streaming service entitled “Project xCloud” this September that will be free to subscribers of its Xbox Game Pass.
One of the biggest faces of Silicon Valley, Elon Musk, made headlines everywhere this year after his company SpaceX successfully launched the Crew Dragon into the planet’s orbit. And this appears to be only the beginning of aerospace advancements in the industry.
Musk’s company is now facing tough competition with a new spacecraft launch service, United Launch Alliance or ULA, on the horizons. Its president and CEO Tony Bruno has revealed that both ULA and SpaceX have been asked to fly military and intelligence satellites for National Security Space Launch in 2022 until 2027. Apart from its unique tourism aspect, aerospace advancements will be vital for national defense and national security.