The simultaneous convergence and interplay of several technological developments is what distinguishes the fourth industrial revolution from earlier ones. The fourth industrial revolution is being driven by a number of significant technological developments, which we will outline in this post. These trends, in our opinion, will permanently change the way we do business and live our lives.
Quick Links
Machine Learning and AI
Although artificial intelligence as a concept has been around for a while, its impact is becoming more noticeable. AI-powered personal assistants (like Apple’s Siri) are already ubiquitous on smartphones, and streaming services like Netflix employ AI algorithms to forecast what and when we will want to watch. By allowing a computer to grow its intelligence without explicit programming from a human, machine learning goes one step farther in this regard.
Machine learning is already being used by Microsoft (through its cloud computing platform Azure) to build, train, and deploy AI models and streamline its operations, but in the future it will be used more and more by environmental scientists and medical professionals (to predict, detect, and prevent disease faster than ever before) (to help uncover tangible solutions to the ongoing climate crisis).
Internet of Things (IoT)
The internet of things is a further tech which has been around for some time but has not yet reached its full potential (IoT).
Consider the following scenario: You are on your way to deliver a presentation to your department as a whole when you are unexpectedly caught in a traffic bottleneck that appears to drag on for miles. Your phone will be able to identify the delay and send the information to your office Computer thanks to new technology. The meeting will be rescheduled at the most convenient time, and your coworkers will be informed so they don’t just sit around waiting. Your car will adapt to the current traffic circumstances and use less gasoline while doing so.
Augmented and Virtual Reality
The “metaverse” is probably something you’ve heard about, but you might have written it off as just a Gen Z jargon or the domain of science fiction screenwriters. While it would be reasonable to make any of those conclusions, the metaverse is gradually becoming a reality thanks to VR and AR technologies that allow us to enter a system of 3D environments, and engage in social interaction there.
With the advent of platforms like Microsoft Mesh, businesses will be able to collaborate using “mixed reality applications” that render as 3D “worlds,” using customized avatars and immersive, interactive spaces to resemble the sensation of being in the same space. Early examples of the metaverse included extremely popular games like Fortnite and Second Life, where participants connect with others in virtual worlds using avatars.
Natural Language Processing (NLP)
Simply put, NLP is what makes it possible for a machine to comprehend human language (in both spoken and written form).
In order to simulate a human-to-human contact and provide 24/7 help without the need for a human customer care representative, AI-powered assistants like ChatBot employ NLP to read, understand, and answer to client enquiries on many prominent websites.
It will become harder to determine whether you’re speaking with a human or an AI-powered bot as we continue to improve the language processing capabilities of computers.
Digital trust
Fundamentally, digital trust refers to users’ confidence in businesses to build a secure digital environment where interactions and transactions may be carried out easily, safely, and securely.
Many think that distributed ledger technology and blockchain will be crucial in increasing digital trust and securing communications. Despite this, there is still a ways to go before the technology is fully available to all kinds of enterprises.
A number of businesses working together with the countless innovative thinkers and doers who are significantly advancing the blockchain sector may find the solution. The crypto industry is developing quickly. Amazing opportunities have been made possible for people all across the world.
Cryptocurrencies are revolutionizing future payments, businesses, and services by boosting e-commerce, enabling cross-border transfers, raising remittances abroad, and stabilizing volatile fiat currencies. The Bitcoin wallet is also crucial since it gives you a place to save your bitcoin keys and gives you access to your funds.
3D modeling
Nowadays, almost anything may be used to make 3D things, including chocolate, metal, powder, concrete, and liquid. Today, 3D houses may be constructed.
This might revolutionize the industrial industry. In summary, 3D printing enables producers to generate items that are challenging to produce using conventional techniques, to simplify the production process, and to produce highly customized goods (including one-of-a-kind products), all while lowering waste and costs.
Medicine
AI and Medicare Healthcare have a long-standing, unbreakable relationship. Investments in technology and developments in the tech sector had a significant role in bringing us out of the stone age, particularly through curing ailments that had afflicted mankind since the beginning of time.
Big Pharma firms will soon use AI-driven technology to streamline the drug distribution process, which will enhance communication between customers and medicine suppliers. Medical experts will be able to provide us with tailored information directly, and we will be able to provide them with quick feedback.
Synthetic biology and gene editing
When “bad” genes are found—genes that potentially harm the health of an organism or its offspring—gene editing can have unique advantages. These negative features might theoretically be changed thanks to recent advances in gene editing technology. Gene editing might thus result in some significant advancements in the struggle against illness in people, animals, and crops.
Novative energy sources
Green hydrogen is one of the most cutting-edge zero-carbon energy options. With green hydrogen, water is electrolyzed to separate into hydrogen and water without any byproducts being produced. Historically, green hydrogen was essentially impractical since the process required so much power. Renewable energy sources might, however, alter this. For instance, if more extra renewable energy becomes available on the grid, that energy might theoretically be utilized to power water electrolysis.