Technology has evolved as a sum of techniques, skills, methods, and processes, structured by the most innovative humans, that helps in our day-to-day works and reduces our major efforts, and leads to the completion of the work at a lesser time. The term technology changed significantly over the last 200 years, from just the study of useful arts to the most rated scientific inventions, and now it has become a source of living. It was invented for solving problems in daily life. It led to the development of advanced economies and raised the standard of living. It is believed that technology will lead to huge changes in the world, in the next 10 years. We are gradually moving to the era of data-driven technologies. Let's discuss it in depth.
Internet of Things
As we know, the most victorious innovation to date is the Internet, which has linked the entire world to a shared room. Similarly, the Internet of Things (IoT), has connected devices, with one another, with the help of sensors, software, and other technologies embedded in it which allows the sharing of data with other devices over the internet. It is a mixture of multiple technologies like commodity sensors, embedded systems, time analytics, and machine learning.
IoT data analytics can help us to make devices linked with Artificial Intelligence(AI) so that the input of informative and raw data can result in an output of the most effective and useful data through AI. This innovation with the Internet of things data will lead the world at a pace, in the upcoming years. Using this technology, Voice User Interface(VUI), can make a drastic change in our daily lifestyle. In this, we can control the device with our voice, which can be very helpful for people with hectic workdays. Some examples of VUI devices currently present in the market are: Amazon Alexa, Echo Dot, Google Home, Google Mini, Siri, Cortana, and the Google Assistant. It is expected to be the most common technology in every home by the end of the next decade.
Even with the improvement in technologies, the size of the devices will also change. Miniaturization of things will create an obsession in the market, which will enable the devices to become portable for people, and ensured maintenance of its work potential. IoT data visualization will act as the most important role in this phase, as it will help for the interpretation of the patterns and behavior of the processed data, at an insight, in order to make efficient business strategy and fruitful decision making.
Internet of things data analytics are leading to the generation of the huge amount of data that are stored in clouds, data centers available for storing data on the internet, for controlling its quality and loss of data prevention. IoT and cloud computing works as an alliance, as cloud computing offers the ability to store its data with high security and data recovery. It is the most demanded and fastest data storing technology which is expected to grow more in the future.
It will even lead to the invention of next-generation computers, i.e. fifth generation computer system, in the next 10 years.
Big Data Technology
Data are present in huge amounts on the internet. The technology tends to extract the most useful and accurate data from the structured and unstructured form of available data, for analysis. The obstacles with big data include data searching, data storage, data analysis, transfer, visualization, etc. Structured data are easier to extract from, than the unstructured one. For Unstructured data analytics, there exists some software that helps to extract value from the complex data which are not present with a pre-defined model.
Currently, statistical methods are used for data analytics and the extraction of value from big data. One of those methods is big data predictive analytics, which is a statistical tool that allows us to extract data and predict the trends in big data analytics and behavior patterns for future events.
The increasing amount of data are leading to the complexity of the analytics of big data, which are gathering at a high velocity by the Internet of Things devices. For the ease of data analytics in the future, machine learning will lead to the growth of this field. It is the study of computer algorithms and is believed to be a subset of Artificial Intelligence. Big data machine learning leads to the invention of a mathematical model, made of computer algorithms, of sample data, that will help to perform a task, solve a problem, and in prediction or decision making. It can be used in applications where complexity is present, for the completion of the needed task. It is a part of predictive analytics.
In the future, this technology will lead to the establishment of more machine learning companies, which will contribute to the development and growth of the economy, in our country.
Digital Assets
Many people are acquiring digital assets as an investment. One of the most popular digital assets is cryptocurrency. You can exchange real currency for purchasing a cryptocurrency as a token or coin. You must have heard about Bitcoin. Similarly, many cryptocurrencies are there like Ether, Litecoin, and Ripple. Each coin is created with a unique code for avoiding duplicate copies. Blockchain technology is used for cryptocurrency.
Many people spend hundreds of dollars on cryptocurrency investment. Once you have invested in cryptocurrency then you can keep it in a digital wallet. You can exchange it for purchasing something online, as there are some online retailers who accept cryptocurrency. The rate fluctuates with time, so one can even become a millionaire from this investment. But if you don't have a stable income and have debts then don't go for it.
In the future, digital assets will become a trend as it will provide a huge return on investments.
In this era of online technologies, huge growth is expected with time and innovation of many more gadgets will be introduced to the world, by the end of the next decade.