f time has taught us anything, the only constant in the field of technology is change. Just a few decades ago, who would have thought that we would have had home appliances that we can communicate with? Technological innovations are continuously evolving, expanding, and making lives better everywhere. Technology has continued to augment efficiencies and complement human abilities at both individual and organisational levels.
Using technological innovations such as A.I. to complement human abilities was a trend started by the militaries, and today, no sector in the world remains untouched by the wonders of technology. Healthcare, banking, business, education, and travel have all witnessed tremendous growth and benefitted greatly from innovations such as artificial intelligence, cloud computing, GPS, and internet of things (IoT).
In a business setting, technology facilitates seamless communication, effective collaboration and promotes productivity. From production to distribution, it plays a vital role in every business operation. In healthcare, it has made the diagnosis and management of many ailments incredibly easy and effective. In addition to this, we also have artificial limbs and surgical assistants supported by the power of A.I.
Necessity breeds innovation. Problem-solving is a crucial component of innovations in computer science. Computer scientists design new technologies to bridge gaps and solve challenges. We expect the next technological advancements to be heavily influenced by the socio-economic exigencies of our times.
Cloud computing has been one of the most significant technological advancements of recent times and continues to lead to many innovations. Cloud-native is an approach to building, running, and maintaining applications by harnessing cloud computing powers. These applications are built, tested, deployed, hosted, and managed in the cloud. When cloud architecture is used to construct systems, engineers can launch the new ideas in the market sooner and respond to customer demands faster. Cloud-native is a flexible, scalable, reliable, and efficient approach to software engineering.
Some significant components of this approach to software development include containers like Kubernetes and Docker, immutable infrastructure, serverless functions, micro-services, and deployed via declarative code. Recent times have witnessed a shift from traditional methods to cloud-native approaches. As per the International Data Corporation (IDC), by 2022, 35% of all production applications will be cloud-native. The IDC report also states that by 2023, with the development of new tools, platforms, and technologies, about 500 million new logic apps will be created, which is equal to the total number of apps built in the last 40 years.
The past few years have seen unprecedented growth in both the frequency and sophistication of cybercrimes. Last year cybercrimes reached an all-time high, accelerated by factors such as work from home (WFH) and bring your own device (BOYD), policies incited by the COVID-19 pandemic and the subsequent lockdowns. This has meant that the focus on cybersecurity has increased, a trend that we predict to continue growing in the coming years. Still, with the landscape getting riskier and cybercriminals smarter, it's time to integrate a meticulous process.
Modern times call for an advanced, more efficacious approach where cybersecurity is built into every aspect of the infrastructure. Artificial intelligence and machine learning have always been crucial features of cybersecurity. However, their roles are required to be expanded, and their powers utilised better in order to identify suspicious behaviour and prevent potential attacks. With cybercrimes growing exponentially and becoming a more pressing concern, we predict upgraded, intrinsic cybersecurity will play a significant role in the technological landscape in the coming years.
Smart homes are not a new concept, and you already probably have Amazon or Google’s assistants controlling and managing other smart home appliances for you. However, edge computing and IoT are exploding fields, with predictions setting the bar in the billions for new connected devices in coming years. In addition to this, intelligent devices make fundamental, tangible differences and significantly improve life quality, even if they come with some security risks. Thus, it comes as no surprise that IoT is a field that is expected to grow far more rapidly than other technologies.
The IoT technology has been used to build smart cities, smart surveillance, electric vehicle charging infrastructure, and medical applications, to name a few. It is also expected to bring about many more significant innovations. The smarter the features it introduces, the more the value will increase. Stats by Mordor Intelligence show that the global market for IoT will surpass $1.38 trillion by 2026. To put things in perspective, the market was valued at $761.4 billion in 2020.
It's natural; as more connected devices fill up the world, more data will be created, and more bandwidth will be required to transmit that data smoothly and quickly. 5G is expected to fill this communication gap by making powerful network speed available everywhere. GSMA Intelligence estimates that although there will only be around 50 5G networks worldwide by 2021, this number will multiply at a bewildering rate and stand at 1.3B 5G connections by 2025, covering 40% of the global population. Speeding up things at an unprecedented rate, this 4G successor is expected to have a radical and comprehensive effect on the tech industry. It will not only increase the quantity of the data transferred but also the quality of the connection. From autonomous vehicles, drones, virtual reality, IoT, cybersecurity and healthcare, 5G is expected to benefit numerous other technologies and sectors.
Blockchain is the technology that made cryptocurrency. It's a kind of a decentralised digital register where information can be stored in a way that makes it impossible to hack, change, or steal. Authentication is also based on complex calculations making identity theft impossible too.
Although blockchain has a diverse and vast range of critics with valid concerns regarding its security, uncertainty, and decentralised nature, the fact remains that it's a technology with great potential to become the next big thing. As per Gartner, business value attributed to Blockchain technology will increase to $3.1 trillion by 2030. Furthermore, as a decentralised, virtually incorruptible, positively unchangeable space for encrypted data, blockchain demonstrates the excellent potential to become an essential feature in banking, business, healthcare, and politics in the coming years.
Artificial intelligence encompasses boundless potential and various business uses. But not all enterprises have been able to leverage its wonderful powers. Building A.I. tools in-house is a complex and extensive process that usually incurs enormous upfront costs. In other words, it's not something small businesses can afford. This is where the revolutionary concepts of A.I. as a service and data as a service come in. Both involve third-party cloud-based tools and services that businesses can buy. In DaaS, you can use cloud-based tools to work with data and perform tasks such as data integration, management, storage, and analytics. AIaaS, on the other hand, involves outsourcing ready-made A.I. tools. Some of the most popular types of AIaaS solutions include APIs, bots, and machine learning. As a revolution that would allow small businesses to finally utilise and benefit from A.I. and data analytics, this is a movement that we see expanding exponentially in coming years, and deservingly so.
Quantum computing processes information in a different way to conventional computing. It is based on the principles of the quantum theory of physics, which explores and explains the mechanics of material and energy on the atomic level. Quantum computing relies on qubits. A qubit is the binary bit version of quantum computing. It can achieve a linear combination of two states using the quantum mechanical phenomena of superposition. Unlike a traditional computer bit which can only be one of the two digits, 1 or 0, a qubit can be either of those. In other words, quantum computers are a more powerful version of classical computers. Their arrival is expected to transform and significantly benefit areas such as intelligence, military affairs, aerospace design, drug design, and finance. According to The Wall Street Journal, about 40% of the industry's tech giants are planning to start creating initiatives to develop quantum computers by 2025.
The coming years promise profound changes in the technological domain. As a result, there'll be a whole new range of tools, techniques, and technologies available for you to make your business perform better. At Gemraj Technologies Ltd, we have industry experts with years of experience who can help you understand how you can take advantage of the new changes in the technological landscape to improve your business performance. We offer services such as I.T. solutions, cloud computing, cybersecurity, and I.T. consultancy all under one roof in order to provide you with a one-stop-shop for all your computing needs.