It can easily be said that automation will play a huge role in the future of the workforce because the future is now. We can already see that many organizations and company departments are already embracing fully-automating their departmental task, with the workforce more focused on skill-based jobs. According to a recent study, 78% of survey respondents said that smart technology would significantly change the workplace by the end of this year.
Five technologies that will revolutionize the global economy
As per the report called Future of Jobs, we have entered a fourth industrial revolution with the start of this new decade. Thus, here are five such technological advancements that will completely change the world economy.
1. Mobile Internet and Blockchain
We already saw the wave of success Bitcoin recently hit. Many such advance virtual currency domains will be seen resurfacing in the future as streamlined, secure contracting and transacting starts driving commercial usage. The mobile applications will backup such user domains as more and more people become fully connected with every platform through their mobile devices. Websites and applications all will be made optimized for mobile devices and associated technologies like voice search etc.
2. AR and VR
Goldman Sachs alone is working towards an $80 Billion market share by 2025 for virtual and augmented reality-based industry. Therefore it can be predicted that we will see significant upgrades happening in the future with technological infrastructure being totally based upon emerging technologies like augmented reality and virtual reality. Right now, VR is more of a concentrated part of the industry where it has been given significant importance in the gaming industry. But for commercial usage, it still has a long way to go despite VR advertisements getting a go nowadays.
3. IoT and Cloud Technology
Internet of things and cloud technology is not the emergence of tomorrow but rather today. We can already see large data sets and information being procured for cloud storage. What more the future will hold is a further advancement in the efficiency of these technologies to provide even better value for businesses than they already do. As more and more devices inter-connect to work efficiently and cut down the time and cost of labor investment, many organizations will be seen embracing IoT and cloud technology in no time.
4. Biometric and Genetic Engineering
It is estimated that genomics will extend the human life expectancy rate. Given how fast genetic engineering has grown since the days when biometric technology first surfaced. It has already given rise to other bodily features being used for identification. According to the Personal Statement Writing Service, it can be predicted that faster computer processing speed, as well as DNA sequencing technology and advanced analytics, will only grow more efficiently with time. All in all, it will reduce human reliance on fossil fuels and improve agricultural growth and sustainability.
5. AI and Robotics
Probably the most popular technological realm, artificial intelligence, and robotics is one field every human thinks of when asked to describe how the future will look like. But with significant advancement already been made in these areas, that future is not far where much like your imagination, you will see robots roaming around an organization than humans. Where, with the help of AI, those robots will not only talk and look like humans but engage in proper human interactions and conversations. Such a real-life scenario in the business intranetis now not that far away.
Conclusion
In conclusion, the key to successfully survive this modern industrial revolution is by leading it. Understanding the needs of running an agile business and planning to develop talent accordingly can help businesses make the most out of these rapidly advancing times.
Author Bio
Claudia Jeffrey is a working mom and work part time as an Editor at crowdwriter.com, where she helps students with their academic and professional careers. She loves to share her ideas and knowledge with her readers. Claudia often blogs at Educator House.