Technology that Matters - for 2020 and Beyond

Welcome to the Fourth Industrial Revolution, and to a world of intriguing developments. The new decade would chart the course for a phenomenal growth story that was initiated in recent years, and its impact would be felt in almost every sphere we are involved in now. This blog provides a futuristic perspective of the different technologies that would transform the very context of our work and personal lives while looking back at the most recent developments. 

2019 – Quite a Memorable Flashback

2019 was an eventful year, providing a perfect finale to the decade. We’ll look at some of the interesting developments that unfolded this year:

Here’s Immersive Technology and the World of Untethered Communication

Immersive Technology is an umbrella term that includes Augmented, Virtual, and Mixed Realities. The technology witnessed a great year with cutting-edge inventions and great success stories. The year saw the launch of Facebook’s Oculus Quest. Unlike other VR headsets, the Quest need not be tethered to a PC and has no external wires. The headset, which brought in a new dimension to the VR experience, made a record sale of 1,80,000 units during the third quarter and has sold approximately 4,000,000 units so far (despite its $399 price tag). Sony’s PlayStation VR registered the largest sales, with 4,63,000 units being sold. Bose’s new eyewear in India, with open-ear audio and AR capabilities, deserves a mention here. It comes with embedded motion sensors that can identify the head orientation and body movement of its users.  

Smart Glasses with Embedded Audio Features

No, I am not repeating the talk of Bose AR Glasses. While the former is eyewear embedded with AR audio capabilities, we have another range of sunglasses (a product of Bose, again) which are embedded with audio systems audible only to the one who wears it. This precisely means that users wearing these glasses need not wear headphones to enjoy music or podcasts.

The newly launched frames provide an open-ear personal listening experience, which also enables the wearer to enjoy content without closing themselves off the world around them. The sunglasses can be connected to a smartphone via Bluetooth, enabling app notifications and audio alerts.

Easier Navigation

It is understandably strenuous, and even dangerous, to keep looking at the smartphone for directions while riding a two-wheeler. The recently introduced SmartHalo 2 is designed to absorb directions from the Smartphone’s GPS and convert this information in the form of colourful LED Lights - to be reflected on the handlebar for directions. The device also provides Cyclists with the option of choosing between turn-by-turn navigation or a compass setting that indicates the right direction. 

The Emergence of Digitized Payments

Direct payments are gradually but surely fading into insignificance, if not extinction. Fintechs have made the payment systems more inclusive, disruptive, and challenging, thanks to their innovative solutions such as AI-powered bots and contactless payments. The Indian payment ecosystem is also transforming, thanks to the government’s Aadhar-Enabled Payments System and the Unified Payments Interface (UPI), among other well-known initiatives. On a good note, Digital India is riding a wave of success as the total volume of UPI transactions in the third quarter of 2019 hit the mark of INR 2.7 billion, which is an increase of over 183% over a short span of one year. It also recorded a value of INR 4.6 trillion, which is again an increase of 189% over a year’s time. We will continue to witness the usage of QR codes for payment. The Internet of Things (IoT) would dominate micro-payments by transforming connected devices into payment channels. 

Cutting-Edge Data Storage

Data storage these days is becoming increasingly difficult given the insurmountable data produced by the digital world. Inspired by the human body’s capability to store genetic information, CATALOG came up with the DNA Data Writer. The device prints data on blank and synthetic strands of DNA.

On a recent note, CREATIVE printed and stored 16 gigabytes of the English text version of Wikipedia on DNA in about 12 hours, which is in fact 1000 times faster than the rates previously achieved. The pilot testing of the device is set for 2020. 

A Future Perspective

The next decade, as already observed, is expected to transform the ways we conduct our lives. Here, we have listed some of the fields that would play its part in disruptive innovation:

An Immersive Future

Immersive Technology is so powerful and brilliant that it would change the way people learn, train, work and live – for the better. More and more companies and investors are finding havens of opportunity in this rapidly developing space, and the adoption rates are increasing year-by-year.

On the hardware segment, smartphones are proving to be the most critical, given its ubiquitousness. The popularity of smartphone-based AR applications like Pokémon Go and Snapchat has prompted marketers to increasingly engage with mobile-first customers. Smartphone users are already using AR, but more killer apps and the content will drive growth in this segment. The development and mass adoption of AR Glasses would happen in a span of five years or shorter, and the user interface and capabilities of VR headsets would continue to make great improvements.  

We are heading into a dynamically different world of learning and work. Continuous learning is no more a fancy term, but a norm for survival. We are at the forefront of a reskilling revolution, which demands a shift in perspective in the way we look at education and skills. Education and training form the most critical part of this revolution, as Industry 4.0 would create new pressures on global markets. Reskilling initiatives would play a key role in training people with the requisite skills. On this note, Virtual Reality is emerging as a vital, or rather a critical tool for educators and trainers. Change is the only constant, and VR would be a ubiquitous training tool of the future. The technology is also expected to redefine customer interaction and penetrate almost all the industrial and educational spheres in unique ways.  

AI-Driven Healthcare

Healthcare has a lot to benefit from Artificial Intelligence and Robotics. It is proving to be a successful tool for early-stage diagnosis, especially diseases like cancer. The American Cancer Society reports that a high proportion of mammograms provide incorrect results. AI facilitates review and translation of mammograms 30 times faster with a 99% accuracy rate, thereby reducing the need for biopsies. Consumer wearables and other medical wearables are paired with AI to oversee any instances of early-stage heart disease. It also uses pattern recognition to identify patients at risk of developing a condition. AI-powered technological applications encourage a healthier way of life with proactive lifestyle management. This puts the consumer in control of their health and well-being.

AI as a service, in general, would soon become accessible to small and medium businesses, thanks to the reducing costs of cloud technology. Affordable options are being provided by Google, AWS, and Microsoft, among others. Recent trends suggest that the emergence and use of conversational AI are on the rise, as depicted by Siri, Alexa, and the likes.

AI and Blockchain – Force to Reckon With

Data forms a crucial part in today’s world. Artificial Intelligence seeks to extract value from such data and create more accurate AI models, thereby entitling societies and businesses to more benefits. The power of data and AI provides us with an opportunity to equalize the opportunity to access data and spread the benefits of AI, powering a new system of data marketplaces. The striking factor here is that this network can be used to share data for the public good.

Autonomous Things

According to Gartner, a global research and advisory firm, Autonomous Things would be among the top trends of 2020. Which is to say, the days of driverless cars are soon approaching us. The autonomous world is also exploring the possibilities of reducing the costs and speed of food deliveries. Postmates, a food delivery platform, has already done so. The company has introduced Serve, which is a semi-autonomous rover that uses cameras and Lidar to navigate sidewalks. A human pilot would remotely monitor a fleet of serves who could take control in the event of any problem. The scope of Autonomous Things isn’t merely restricted to the land, as Autonomous Drones are already a part of commercial settings. 

The realms of automation can be in the form of unattended bots and attended bots. The former is where processes can be automated end-to-end, the latter is designed to work with humans on account of process complexity.

Edge Computing

Edge Computing, which brings computation and data storage closer to the devices where it is being gathered, is changing the way data is handled, processed, and delivered from millions of devices across the world. The rapid growth of the Internet of Things (IoT), and applications requiring real-time computing power drives edge-computing systems. Forthcoming networking technologies like 5G wireless systems are facilitating edge computer systems to accelerate the creation/support of real-time applications like self-driving cars, video processing and analytics, artificial intelligence and robotics, among others. According to Forrester, the market will grow by 50% in 2020. 

Machine Learning

Machine Learning is an AI application that enables systems to automatically learn and improve from experience without being explicitly programmed. It develops computer programs that can access data. Its primary objective is to enable Automated Learning without human intervention/assistance. The technology has gone on to change the fundamentals of industries for the better. Machine Learning would continue to be an integral part of our varied endeavours. The investment and interest in this field will continue to grow. The Forrester Report suggests that 25% of the Fortune 500 entities will add AI Building Blocks (which includes text analytics and machine learning). The technology will be worth $935 million by 2025. 

Impact of the Spatial Web

The digital and physical realms have never been closer. We will soon be a part of a revolution where the way we see and interact with data is rich, meaningful, dynamic, and engaging. Welcome to the Spatial Web.

A Spatial Web, in simple terms, is a computing environment that exists in three-dimensional space and is accessed through the interfaces of both Virtual and Augmented Reality. It helps us build a twin of our physical reality in the virtual space and thereby bring the digital into our physical environments. In other words, it creates an interface with a digitally enhanced version of our physical environments and creates entirely fictional virtual worlds. Spatial Web would transform every aspect of our lives – be it education, work, advertising, retail, entertainment or social interaction. 

5G and the Exponential Tech

Branded as the future of connectivity, 5G is expected to play the role of a catalyst in the growth of many exponential technologies. Its advent would play a crucial role in expanding the spread of exponential technologies and making a difference in many services and industries.

Smartphones and cellular networks might form the initial phase of 5G networking, but the scope of this technology isn’t merely restricted to it. Its ability to transform data faster would immensely cater to the development of varied functional areas like manufacturing, agriculture, energy and utilities, financial services, healthcare, transportation, media & entertainment, augmented and virtual realities, cloud computing, autonomous things, gaming, real estate, public safety, the development of smart cities and homes, and you name it. Experts suggest that the technology will take time to evolve and be a part of all our systems, but it is implicit that 5G will be a part of a faster and vibrant future. 

A Future of Smart Homes

The decade began with the promise of enabling people in controlling their home devices, and recent years have made good of that expectation. The future looks bright and promising too, as a Zion Market research predicts the market to reach $53.45 billion by 2022. It is highly expected that our homes of the future will turn more secure, with facilities like remote control of appliances, automated threat detection, integrated apps, increased voice control recognition, etc. 

IoT is the Future

It’s 2020, the year that Gartner predicted 20 million IoT devices to be online. These devices are forming a part of the mainstream electronics culture, making people adopt smart devices into their homes. It changes the way we interact with basic daily objects. Add to it, Machine Learning and Artificial Intelligence are making these devices smarter. And smarter devices lead to smarter homes and cities. 

What’s Next? 

It is inevitable that these emerging technologies would go on to be a compelling and transformative part of our lives. The wonders of the 21st century seem merely to be a cog in the chain when compared to the many advancements that would unfold this decade. It is such an exciting, yet challenging phase of time for tech enthusiasts and businesses alike.