The tech market is a fast-growing industry affecting every other sector around the globe. By allowing companies to innovate the way they work, tech inventions have become necessary for companies to operate. Incumbent businesses have invested vast amounts of money in new technologies to remain competitive and meet customers’ needs.
Emerging technologies have caused massive job disruption, and employees have had to learn new skills to stay relevant. However, for many people, getting a job has become a struggle. Employers’ demands are higher, and several workers don’t know what to do to fit their needs. To help you take a step in the right direction and get a better idea of new technologies’ effect, here are seven technologies leading incumbent industries to disruption.
Augmented reality has spread widely in the past few years. This technology allows users to interact with virtual objects in real time. It’s similar to Virtual Reality, but the big difference is that AR deals with the real world right in front of users. On the other hand, virtual reality creates a safe virtual environment that can be similar to or different from the real world.
With the use of AR, companies in the online retail sector have provided better services. IKEA, for example, allows users to have 3D previews of merchandise by using their smartphones’ cameras.
Sephora has transformed the cosmetic industry. Years ago, customers couldn’t know how products look on them without buying. But the company has created a Virtual Artist App that allows buyers to try products before making a purchase. This has allowed the company to increase customer satisfaction and product returns.
In healthcare, AR has been used for nurse training. SimX’s software, for example, allows nurses to learn how to deal with daily work scenarios and implement better practices. SimX’s software is way cheaper than traditional mannequin simulations, and it’s highly customizable. In that case, nurses can develop their social, technical, and organizational skills.
Artificial Intelligence is playing an essential role in the manufacturing sector. AI-powered robots are now part of the workplace and help organizations increase productivity and improve processes. By analyzing previous procedures, AI robots can become better at specific tasks and provide better results.
Nowadays, artificial intelligence and machine learning are indispensable for data analysis. Organizations lean on tech professionals like data scientists to make better business decisions. As they are responsible for analyzing, interpreting, and visualizing collected information, using ML algorithms is key to creating better insights.
Companies like LG have developed AI-powered TVs that give customers better experiences. LG ThinQ AI TVs use voice recognition features to match your taste. You only need to make a voice request, and tailored suggestions will be made.
To get skilled, you can enroll in data science boot camps. They are a great option for learning in-demand programming tools that are crucial to meet employers’ requirements. Data science boot camps also allow you to learn core statistical and data analysis skills that will help you prepare for future challenges.
Serverless computing is reshaping the way companies store information. Years ago, organizations needed big rooms to store data. But, with the use of cloud computing, physical databases are no longer needed. In other words, they can reduce costs on office rent because a smaller workspace is required.
Cloud services provide customers with security and accessibility. Amazon is among the top five cloud service providers, and its cloud service is helping companies take significant strides. Amazon Web Services provide customers with machine learning features to help tech professionals create better insights so companies can make better data-driven decisions and remain in the competition.
Coding Dojo is a coding school that allows you to learn AWS skills. The company offers an extensive range of courses to choose from. But, if you have a busy schedule, you should join their online coding boot camp. You’ll get real-time support from instructors and become a self-sufficient developer in only four months.
Online streaming is giving traditional television companies a run for their money. Cable and Satellite TV are getting old school. Companies like Netflix and Hulu are taking the stage, and they are giving customers what they need. Netflix app provides customers with recommendations based on previously watched content. It allows the company to increase customer satisfaction and engagement.
On the order hand, companies like Apple and Spotify have transformed the way users listen to music. Apple Music and Spotify allow customers to stream content and create personalized playlists. Given that, buying records is no longer needed, and companies in the record industry have been affected.
Natural Language Processing
Natural language processing, or NLP for short, has made tourists’ lives much more comfortable. NLP is what allows systems to understand voice commands. Google’s Translate App uses NLP technologies to help users do quicker translations and break the language barrier.
NLP not only allows systems to understand voice instructions. It also gives them the ability to read and understand written text. By using Google’s Lens App, travelers can translate signs and even large texts in real time.
In the renewable energy sector, blockchain allows companies to build “micro-grids” of sustainable energy. Microgrids enable customers to trade produced energy with neighbors and peers. In Australia, companies like Power Ledger are already using blockchain to connect communities and improve energy distribution.
In the gaming industry, online gaming continues to grow. As it’s now considered a sport, many organizations are investing money in the field. However, because of digital threats, having security is among gamers’ concerns. Blockchain allows gamers to exchange digital tokens for cryptocurrency. These transactions are highly secure because third-party interventions are not required.
The Internet of Things
Internet-connected devices are now everywhere. They’re changing the way we live and how companies provide services. In the healthcare sector, smartwatches play an important role in patient monitoring. By monitoring patients’ blood pressure, heart rate, and oxygen levels, doctors can detect health problems on time.
In the automotive industry, IoT has been used in predictive maintenance. Smart sensors can analyze patterns and predict future outcomes. IoT has allowed drivers to save time and money by reducing unplanned downtimes.
To become an attractive candidate, you should learn Java. It’s the perfect tool for creating cross-platform solutions. You can take online courses to learn Java, but if you prefer in-person education, you can enroll in Flatiron School’s coding boot camp. The company allows you to learn from industry-experienced tutors and provides you with several financing options.
The digital transition will continue to accelerate its pace. Because of the increasing demand for smarter products, more companies will invest in new technologies. If you’re willing to be part of the next world workforce, you must learn new tech skills. They’ll help you to remain competitive and increase your job opportunities.
Jenny Green, Co-Owner of Fisher Green Creative, specializes in digital strategy development, social media marketing, and SEO for small businesses. Away from helping clients or studying the latest marketing trends, Jenny volunteers her time coaching youth soccer, enjoys a cold craft IPA, and works to save the elephants. Connect with Jenny on LinkedIn or email.
1 thought on “Top 7 Technologies Leading Incumbent Industries to Disruption”
Looks like neurolinguistic programming like GPT-3 and voice recognition will indeed play a huge role in how we search for and consume information. Already now algorithms can recognize faces, fingerprints, images, text, sounds and voice, and voice assistants are getting more advanced every year.