3) Increased use of sensors across various industries will lead to a tsunami of data driving massive developments in Big Data
We are starting to see sensors being embedded in physical objects ranging from medical devices, wearables, highways, cars, industrial machines to mobile phones and these are then linked to very high speed and powerful networks.
The volumes of data generated will lead to a huge repository of data. In farming and agriculture for instance, sensors can help gather information about the condition of the crops, and humidity, which will eventually assist in understanding water and fertiliser requirements.
In the healthcare segment, when doctors need to analyse the traces of a disease that could be arising within an individual, it could mean swallowing a pill that has a camera attached to the pill and these cameras through sensors can help doctors determine the cause of the disease or what should be done to prevent the condition from worsening.
In Smart City initiatives such as Songdo in South Korea, nearly every device, building or road is equipped with wireless sensors or microchips.
The data generated will help the government make smart decisions about lighting, traffic, waste and other segments of a Smart City initiative. All these examples point to what the future of big data will mean for organisations.
4) Smart Machines will disrupt the market place
Smart machines which include drones, driverless vehicles as well as robots are set to introduce efficient ways of delivering output.
As costs pressures rise in developed economies and emerging economies, smart machines will negate the need for staff in certain segments of the business.
Rio Tinto recently rolled out fully automated driverless trucks at two of its iron ore mines in the Pilbara in Western Australia.
The company is said to also be trialling driverless trains and will be deploying other technologies to cut costs. Wal-Mart Stores recently announced that it has applied to US regulators for permission to test drones for home delivery.
Amazon was also trialling the use of drones for its online delivery business. The biggest challenge for the drone industry has been the ability for organisations to get approval from the respective aviation authorities.
Robots are starting to be used in several Asian markets in hotels and restaurants to eliminate the need to have front desk staff or waiters.
Toyota recently announced that it would be investing $US1 billion over the next five years to build Toyota Research Institute, a new company based in Silicon Valley focused on artificial intelligence and robotics.
These recent developments point to a market ahead of us that will see how smart machines will be used widespread across various industries, but whilst it will drive efficiencies and help reduce costs, it will also start having a negative impact on jobs.
5) Cognitive Computing and Artificial Intelligence platforms to become big across industries
The Cognitive Computing platform is mirrored closely to how the brain works. It is based on how humans make decisions.
The computer systems do not follow a specific pattern or fixed programming protocol. The computer intelligently identifies patterns thinking like a human brain.
We can expect more cognitive computing platforms to bring about a new way of delivering services. We are starting to see that in healthcare for example.
Memorial Sloan Kettering clinicians are partnering with IBM to train Watson Oncology to interpret cancer patients’ clinical information and identify individualised, evidence-based treatment options for its patients.
In the contact centre space, we are starting to see contact centres using various technologies to create efficiencies such as cloud computing, self-service applications, web based platforms and analytics.
IVR technology has been used for years by contact centres around the world and when you add artificial intelligence to that equation, it changes the face of how the contact centre of the future will look like.
Last year IPsoft unveiled “Amelia” which is an AI contact centre agent. “Amelia” is designed to think like a human and can help answer complex customer queries.
Whilst artificial intelligence solutions will gain in adoption, it is worth noting that the human element is still important as not all services can be taken over by AI.
Intelligent Personal assistants are also making its way in the market with Facebook’s M and Baidu’s Duer. The battleground for Intelligent Personal assistants will increase with nearly every large technology company investing in developing an intelligent personal assistant platform.
Other popular solutions in this space vying for a share in this market include Siri, Cortana and Google Now. These platforms will offer a wide range of services which include booking a taxi, ordering food, groceries and other online goods.