Technology is changing the world in a constant rate. We are always connected, whether through our smartphones or robotics. Communication is no longer face-toface or written in handwriting instead, it is instant and immediate through a variety of channels including voice assistants, text, and video calls.
The advancement of technology has changed our lives in remarkable ways, and has improved the quality of life from generation to generation. It’s not without risk especially in relation to the job market. Many are concerned that the new technology will replace human jobs, and this could occur to some degree. We know from past experience, however, that the creation of new jobs can be able to offset the loss of some jobs.
Artificial intelligence, robotics, and natural language processing are changing the way we work. We are also seeing the impact of drones and 5G networks.
These technologies will transform business processes, bringing greater levels of connectivity, automation, and security. Blockchains, for example, are changing the way supply chains are run by making it more secure and allowing an irrevocable record of transactions. 5G will enable businesses to process data closer to where it came from (ultra-low latency), attain data sovereignty, and increase privacy of data by reducing the cost of transmission.
Virtual reality and augmented realities are changing the way we interact with digital devices and information. They offer immersive experiences that feel and look like real life. We are also witnessing significant advances in areas like gene editing, which may reduce the prevalence genetic disorders like muscular dystrophy as well as cystic fibrosis.
