- Artificial Intelligence is a brand of computer science that is revolutionizing other technologies and industries.
- The Internet of Things is a term that describes how all the technology and smart devices around us are connected.
- Augmented reality is when the real world is enhanced with the use of a virtual device.
The world is evolving, and technology is driving change. We are almost at the point of no return, and all industries are seeing changes in how they operate. From virtual property tours to universal patient databases, technology is becoming a coworker more than a tool. These are the technologies that are creating an impact on leading industries.
Artificial Intelligence
Artificial Intelligence is a brand of computer science that is revolutionizing other technologies and industries. It has many subsets, like machine learning, deep learning, robotics, and natural language processing. It has made an enormous leap in the last decade, and we could be seeing machines that think like humans very soon.
A good illustration is in the real estate sector where AI applications provide software that can improve property management, resource optimization, and energy saving. It can also enhance the user experience when looking for a new property by providing smart searches that adapt better to each customer.
Another impressive application of AI in real estate is to identify lead generation clients. AI algorithms can identify clients that have a genuine interest in buying instead of just looking out of curiosity. The dream of any real state agent, right?
In healthcare, machine learning and data science are making life-changing developments. To illustrate, there is software that uses data from millions of medical images to give insights when doctors are making diagnoses. Plus, this software can analyze a database of millions of patients’ histories to provide suggestions to the doctors on possible treatments.
IT is also impacting other industries like marketing, retail, transport, and education. We will continue to see more changes in the next few years, but our society will never be the same. There is definitely a before and after when it comes to Artificial Intelligence.
Internet of Things
The Internet of Things is a term that describes how all the technology and smart devices around us are connected. The devices feed data to and from the system. The data that all the IoT sensors and devices collect are what fuel AI algorithms and machine learning models. Anything that can be connected to a system can be an IoT device, like our smartphones and laptops.
This technology has also made possible things like smart buildings and homes. For example, in healthcare, wearable devices that monitor a person’s health are very common right now, like the Fitbit or Apple Watch. Also, devices can be installed at a patient’s home and allow doctors to monitor them remotely and minimize exposure risks.
Along the same line, in the pharmaceutical industry, smart pills are a reality. The pills are sensors that collect data while travelling the person’s body and give powerful insight that wouldn’t be possible otherwise.
With IoT sensors, smart homes will be able to improve energy efficiency by allowing the development of smart grids. Smart grids are a network of power distribution that can adapt according to each user’s insight. This means electricity services that can adapt to each house or building consumption data.
Wearables that will be able to monitor even the brain activity of students are an idea but could be implemented in the future. That way, teachers could pinpoint which methods give better results and help students engage in the classroom. If this comes to fruition, it will completely change the education industry.
Blockchain
Blockchain became famous after the Bitcoin boom, but the technology has much more potential. Besides cryptocurrencies, Blockchain promises digital security that we haven’t been able to achieve before. The attractiveness of the technology comes from its three main characteristics: transparent, decentralized, and immutable.
Blockchain is a digital ledger stored in a network of computers. Each computer is a node, and each node can access the ledger at all times and has to approve all changes that occur. One of the applications that are creating more impact is smart contracts. Smart contracts are a set of rules that execute themselves when the conditions are met.
In real estate, smart contracts can make a difference by eliminating the necessity of a third party. When buying a property, the rules for the deal can be that the transaction is complete. And without the need of any other intermediary, the contract is fulfilled, and each party receives its assets.
Another application is in healthcare, where patients’ records can be kept on a universal database where any company or healthcare provider can access the information with the right clearance. This will not only improve the patient-healthcare provider relationship but can fuel powerful AI software with all the data.
Blockchain is also helping combat counterfeit medication. These fake drugs make the pharmaceutical industry lose billions of dollars each year. Plus, patients are put in danger by using counterfeit drugs. By using this technology, companies are tracking production and building a public ledger for the supply chain.
Augmented Reality and Virtual Reality
Augmented reality is when the real world is enhanced with the use of a virtual device. Apps like Pokemon Go are the clearest example of AR. On the other hand, virtual reality is when the user is completely immersed in a digital world. Both of these technologies have made a significant leap in the last decade and are creating a big impact on many industries.
In real estate, companies already are using VR to make virtual tours of properties for potential buyers, and AR is used to show them how a property would look with the furniture of their preference. In healthcare, medical institutions are using AR/VR technology to improve the education experience. They use training programs that simulate real-life surgeries in high-risk patients.
In Summary
Technology is changing the way we work, live, and interact with one another. We are experiencing the Fourth Industrial Revolution, and all industries are changing because of it. Artificial Intelligence, Blockchain, and VR/AR are three of the technologies that are making an impact, but it doesn’t mean they are the only ones.
Artificial Intelligence is, by far, the one creating more change because not only it is impacting our lives but also fueling developments for other technologies as well. And these technologies have a lot more potential that we will continue to see in the years to come.
