Right now, we're in the middle of a transformation that will change business forever. Some believe that this is the fourth industrial revolution and we will see a total metamorphosis in the workplace.
In the 1770s, the first industrial revolution led to mechanisation. If you fast-forward 100 years, the second industrial revolution brought about electricity and then assembly lines. The third revolution then ushered in automation and computers. So, what does the fourth revolution have to hold? Early indications show that it will be largely centred around robots and connected machines.
AI machine learning
AI and machine learning are all forms of technology that use data to power the intelligence revolution. Machine learning will, in some ways, exceed human intelligence. Every critical aspect of our lives is being benefitted or impacted by AI in one way or another. This is one of the many reasons why entrepreneurs such as Tej Kohli are now investing more money into the industry than ever before.
There has been an explosion in the amount of data we collect, store and analyse. 90% of the world's data has been generated in the last few years. More data is being created by the minute - everything from marketing campaigns, to healthcare, sales records to TV shows. And this is only going to continue to grow. Right now, we have 30 zettabytes of data in the world.
Big data will be invaluable for a huge range of businesses. It is possible to extract critical information from the data that we collect that can help boost business. But, the right applications need to be developed so that this information can be leveraged in your business.
Another huge trend at the moment is the explosion in the number of smart or connected devices. This has all be facilitated by the IOT. For marketers, the amount of data these devices collect is enlightening to say the least and this is leading to some very interesting advancements in marketing techniques.
Virtual reality (VR) is really beginning to take off. Mixed reality is another application that can be used for marketing. It gives businesses the chance to broaden their marketing applications while engaging with customers and digital prospects in a brand-new way.
Mixed reality gives people the opportunity to manipulate digital objects. If marketers can take advantage of this, they can pursue new and interesting avenues for their marketing strategies.
Only time will tell what the future is going to hold but right now things are looking positive for the tech industry.
Copyright 2020. Article made possible by site supporter James Spencer, Fintech Reporting