What technologies should you focus on? As a leader, you must pinpoint which two or three advanced technologies might disrupt your industry the most. By understanding and engaging with these changes early, you can use them to your advantage, ensuring your business stays ahead and adapts for the future.
Five Essential Technologies for Your Business Today:
- AI as a Service (AIaaS)
- Quantum Computing
- Avatar Systems
- Blockchain
- The Spatial Web
AI as a Service
Every company should at least develop a strong AI skill set, along with mastering other key technologies relevant to its industry, which can be effectively achieved through resources like talkie-ai.com. Take, for example, Peter Diamandis, the founder of XPRIZE. He’s transforming his business, which focuses on teaching about exponential technologies, by developing an AI that searches the internet for information on abundance and longevity. His machine learning algorithm, named Futureloop, analyzes thousands of online news sources daily, highlights the most pertinent information about abundance, and compiles it into a daily email for his clients. However, you don’t need to develop your own AI like Peter; instead, you can utilize AI capabilities through software-as-a-service AI platforms like those offered by Linkup Studio.
Before 2030, we’ll see the rise of powerful cloud-based tools known as AI as a Service (AIaaS). These tools will enable business leaders to integrate AI across various functions. AIaaS will assist employees in daily operations, from routine tasks to creative idea generation, and across departments like accounting, finance, customer service, business intelligence, and HR. These tools will provide businesses of any size the opportunity to use the world’s most advanced computing resources by applying them to their existing data. For instance, Amazon’s new machine learning platform, Amazon Personalize, allows clients to leverage Amazon’s AI technology to create customized recommendations for their customers based on the company’s data. For more details on developing these capabilities, you can explore AI development services.
AI as a Service (AIaaS) is gaining momentum due to the widespread adoption of cloud computing and software as a service (SaaS). Cisco estimates that in 2021, 70 percent of all enterprise workflows occurred in the cloud through SaaS platforms. over time, what we currently refer to as AIaaS is likely to become a normal part of everyday business operations.
Quantum Computing
The future of computing is set to be driven by quantum computing, which promises to significantly alter various industries such as finance, materials science, logistics, supply chain, biotechnology, and computer network security. Many problems today are too intricate to solve or predict due to their numerous variables. However, quantum computers can process a much broader range of values simultaneously compared to today’s most powerful supercomputers. This ability means that quantum computers can quickly tackle many complex problems that are unmanageable now because of their numerous variables. In practical terms, quantum computing could enhance the efficiency of systems like supply chains and logistics, and lead to innovations in materials design, chemistry, and pharmaceuticals. For instance, quantum computing might have accelerated the development of a coronavirus vaccine even more quickly than current methods allowed.
Currently, quantum computers have limited practical uses because they are large and need specific laboratory conditions to operate. However, within the next five years, quantum computing is expected to become available as a cloud service offered by major technology companies like Google, Amazon, Microsoft, IBM, and others.
Avatar Systems
Since 2016, new user interfaces such as augmented reality (AR) and virtual reality (VR) have created new ways for people to engage with education, entertainment, and empathy through remote connections. These technologies have changed the traditional ways we experience things; we no longer need to be physically present to have these experiences. Additionally, the pandemic has significantly increased the demand for remote experiences.
By 2030, avatars might enable you to be virtually present anywhere in the world, allowing for interactions in any location. Healthcare professionals could use this technology to provide medical services in disaster zones or other hard-to-reach areas. Similarly, skilled technicians could offer their expertise immediately, wherever it’s needed, and research and exploration could be conducted in places inaccessible to humans. This technology could also transform travel and tourism, offering virtual visits as an alternative to physical travel. Instead of using platforms like Zoom for video conferencing as we did during the pandemic, we might use virtual reality to “remote in.” By 2030, our constraints related to time and space could dramatically change, opening up numerous business opportunities as new user interfaces enable a vast array of remote interactions.
Blockchain
Digital assets such as Bitcoin and other cryptocurrencies are becoming more popular because they rely on blockchain technology. This technology is a distributed database that encrypts and stores data across numerous computers globally. Blockchain can hold various types of information, including digital identities and the history of an item’s ownership. It also enables the ownership and trading of digital assets like digital art through non-fungible tokens on peer-to-peer networks. Since the blockchain network is controlled collectively by its users, it provides a reliable way to establish trust. If your business depends on trust and verification, blockchain technology could help you develop a fundamentally new business model for the future.
A 2020 study by PwC predicted that blockchain technology could increase the global gross domestic product by $1.76 trillion over the next decade. The most significant impacts are expected in supply chain management, payments and financial services, and identity management to reduce fraud and identity theft. Blockchain is poised to usher in a new era of the internet, often referred to as Web 3.0. In this era, transactions will occur directly between peers without the need for intermediary brokers, which could disrupt many businesses that currently act as trusted middlemen.
The Spatial Web
The pandemic has greatly intensified the interest in virtual connection methods beyond traditional videoconferencing. Entrepreneurs are now developing what’s being called the spatial web, a new era where individuals will interact within three-dimensional spaces that blend real and virtual environments. Just as the World Wide Web revolutionized the way websites are interconnected, the spatial web aims to connect people, physical spaces, and digital assets in a similar expansive network. The transition to this advanced level of integration will likely depend on widespread 5G connectivity and the broad adoption of augmented reality devices like smart glasses, which are expected to become common by the mid-2020s. However, the foundations of the spatial web are already being laid through the integration of blockchain-based digital objects, smartphone augmented reality, web-based virtual reality, head-mounted displays, spatial audio, and innovative gamification methods.
The spatial web is set to open up new avenues for collaboration and create innovative service models for many businesses. Eric Pulier, founder and CEO of Spatial Web, notes that ventures into the spatial web are already changing the way we meet, shop, and interact with marketing experiences, and this is only the start. For instance, if your customers are unable to visit a physical location, you could send them a virtual reality or augmented reality headset. This would allow them to explore your showroom from the comfort of their own homes. Through these headsets, clients can experience spatial audio and view products remotely. Similarly, instead of hosting in-person conferences, companies can organize events on the spatial web, where attendees can engage virtually through digital avatars, potentially allowing for a much larger audience than what is feasible at a physical event.
As you think about which cutting-edge technologies to incorporate into your long-term strategy, it’s important to remember that each of these technologies will mature and become commercially viable at different times. There won’t be a sudden moment when any of these technologies are fully “ready” and become integral to how we live and work. For example, the various components of the spatial web are each advancing rapidly, becoming more effective and powerful over time. It’s crucial to start experimenting with these technologies now. If you wait too long, you risk missing the opportunity to capitalize on these developments and could fall behind your competitors when these technologies eventually become widespread. For insights on integrating these technologies into product design, you can read more on here: https://linkupst.com/blog/ai-product-design. Additionally, to see an overview of how these technologies are evolving and their potential impacts, watch this video.
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