Tuesday, September 29, 2020

Key Technology Updates to Keep Your Eye On This Year

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Every year, the innovative and creative explore new ways to improve the technological systems and processes that exist. While the quality of life for people around the globe has experienced vast enhancements due to technology, industries and businesses have also been relying on tech support to boost productivity, lower costs and strengthen both the national and global economy. For those who like to keep track of what’s coming down the pike, here are some of the technology updates to key on eye on over the next few months.

A Turn to Digitization

The supply chain and logistics industry have relied on an intricate network of ships, railways, air freight, and trucking services to meet demand and transport goods. As digitization becomes more reliable, you will see that autonomous drones, artificial intelligence, robotics, blockchain and the Internet of Things becoming a more important part of the logistics sector. Data analytics have already been used to create more consistent and faster deliveries at lower costs, but soon you will see companies of all sizes move to embrace these services. Zipline is a company using autonomous drones to deliver medical supplies into remote areas, while Dispatch is creating an Uber-like platform to connect truckers to businesses with transport needs. Products like terraform make it easier for developers and designers to craft programs to meet the specific needs of each logistic angle and company.

An Integration of Tech and Construction

In light of the massive demand for new construction projects and the corresponding demand for laborers, new technologies are being put in place to help reduce construction inefficiencies and employment shortages. Safety is a primary concern for those involved in construction, but with machine calculation and monitoring systems on construction equipment, malfunctions and miscalculations are no longer a surprise. Planning platforms, like the use release by Alice Technologies, streamline project management to avoid costly delays. Robotics and automation are also turning out access to new equipment at more affordable rates, but with enhanced safety features for operators.

The Salvation of Retail Through Technology

The retail industry has been slow to make adjustments to the tech influence, stunting overall growth and efficiency. However, as brick-and-mortar stores begin to embrace digital cameras, computer vision, artificial intelligence and deep-learning algorithms, streamline and personalized operations will fuel consumer interest and retailer efficiencies. The move toward a cashless system, already see to be successful in Amazon’s Go stores, is fueling the creation of the smart shopping cart from Veeve. This cart will identify the items placed in the basket, calculate the total and notify management if there are any age verification needs on any of the items. Cashier-free checkouts and out-of-stock detection systems are just a few of the things expected to save retail in the coming months.

The Security of Control Systems Through Operational Technology

Cyberattacks have become an unfortunate but realistic threat for industrial control systems, especially for those that govern power stations or rail systems. There With operational technology being merged into cybersecurity platforms, there is more visibility for incoming or potential threats. There are several new companies designing and working on monitoring and protection software for operational technology, with large corporations like Siemens and General Electric backing some of these venture operations.

The Use of Alternative Data for Financial Services

Data has been a major player in the tech advancements in all industries, but the financial sector will look to harness alternative data in order to create a competitive edge between investors and hedge fund managers. Machine learning and natural language processing systems are making it easier to trend predictions to made based on data that has been gleaned from satellite imagery of foot traffic at retailers, social media posts, job listings and the flight paths of corporate planes. This unique approach to data could provide the inside track on promising new ventures or important consumer trends.

The changes coming to each industry won’t happen overnight, but you should definitely keep your eye on these trending updates. You would rather be ahead of the curve than behind it.

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