8 technology innovation trends and opportunities in 2021

by Mihail Angelov
technology, innovation trends, tech opportunities



Technology is moving at an incredible pace. We live in a fantastic era where the things we have watched on sci-fi movies are becoming a reality as we speak.

Artificial Intelligence, crypto-currencies, advanced automation, deep learning are about to reshape our world — what an exciting time to live in!

Technologies evolve quicker than ever. Having that in mind, companies need to follow and don’t afraid of looking closely at the most recent technological trends to maintain their business’s pace with the moment.

What innovations in the IT world are going to be in demand in 2021? How companies will use emerging technology and innovation for their growth?

Here are the most important technology innovation trends and opportunities:

  1. Artificial Intelligence
  2. Intelligent Interfaces
  3. Virtual Reality
  4. Augmented Reality
  5. Cloud Technologies and Supercomputing
  6. Robotics
  7. Big Data and Analytics
  8. Blockchain

1. Artificial intelligence

Artificial intelligence is one of the most significant issues in the technology space.

Thus, AI has become a general and broadly used term that refers to any type of computer software that interacts in humanlike activities, such as learning, planning and problem-solving.

These activities are the core of the machine learning area, as one of the key areas of artificial intelligence.

AI can combine with all other technologies and trends, such as robotics, VR and AR, big data and more.

2. Intelligent interfaces

Intelligent interfaces have completely reinvented the way we communicate with computers and technology. This technology can also predict what people want to do, analyze this information, and use it according.

The intelligent interface is shown as a combination of human-centered design and advanced technologies that changes the way people interact with computers, smartphones, information, and each other.

Investing in cameras, sensors, microphones, headsets and heavily in privacy, because they require personal data to track many things.

The main goal is to increase productivity where they can process gestures and voice commands to send data back to the systems in order to be analyzed.

Open Facebook App on your smartphone and shake it. You will see what will happen.

3. Virtual reality

There is no doubt that VR will be mostly used in the workplace, education, training, gaming and marketing.

With the release of standalone VR headsets, the usage will rise and every individual will be able to experience the immersive media space.

Take the popularity of Pokémon GO as an example. As the market matures over time, we will see more applications and platforms that will bridge the gap between virtual and reality with this type of content.

In time video subscription services like Netflix and Amazon Prime – will create entire VR centric content, thus increasing their value proposition for the monthly subscription.

The concepts of Virtual and Augmented Reality go back decades but have matured to a point where a cohesive alignment between the ever-improving quality of devices, as well as an ever-evolving market place for content and applications, is possible.

Still, while VR is not that available and used after its hype in the previous years, its sibling – the Augmented Reality (AR) has become the new toy in town, especially for smartphone users.

4. Augmented reality

When digital and physical worlds blend into a single experience, we get augmented reality, which is transmitted via AR devices or sets. With AR headsets being too expensive, unable to wear for long periods of time and with limited capabilities, mobile AR has taken over the trend.

Most brands and companies have adopted AR as a part of their user experience, marketing plans and mobile apps. Unlike creating a VR application, which can be a very expensive, complex, and time-consuming project, building an AR app is surprisingly affordable.

The potential for augmented reality goes beyond games, and as years go by, it proved that it could help and empower users with the rise of practical, utility-focused applications. Many companies and brands have used this in order to serve a better user experience and market themselves in a more futuristic way.

5. Cloud technologies and supercomputing

Let’s be honest: supercomputers are basically cloud computing. This does not look exactly like a generic multi-tenant web service-focused cloud, but the basic concept is the same.

Working with a large pool of processors for information flow can be done in two basic ways.

  1. The first one is called supercomputing, where the computer sits in one location with all its many processors, and the communication is flowing through the local network.
  2. The other way (which sounds better) to incorporate various processors is a distributed computer network, called cloud computing. With this scenario, the processors can be located in different and diverse geographical locations, communicating through the Internet.

Having these two separate but same processes for information flow here are some pros and cons and why companies and individuals pick one over the other.

Information moves very fast between processors in a supercomputer. With this, they can all contribute to the same task and are a great fit for any applications that require real-time processing.

The downside is that they are often robust and costly. They are made up of the best processors available, rapid memory, elaborate cooling mechanisms, and specially designed parts. Plus, scaling a supercomputer isn’t easy: once you set up the machine, it becomes a future project to load in additional components.

Therefore, one reason that people choose the cloud computing option is that it is much more affordable and easy to use.

The creation of a distributed network can be incredibly complicated, but the hardware components do not need to be specially designed. The companies don’t have to bother about the scaling because it happens seamlessly: processing power grows as additional servers are added to the network.

However, the choice between these two options depends on the company and the industry in which it operates, becoming an essential investment in the businesses’ infrastructure.

6. Robotics

The surge in labor charges worldwide has enforced manufacturers to replace human labor with machines a.k.a robots. Europe and Asia are emerging markets that embrace this trend.

The increase in demand for automation and rapid growth in industrialization will foster the use of industrial robots. There is an increase of robots in automotive, machinery, food and beverages optics and other industries for automating processes, which has raised the efficiency, reduced human errors and improved the safety of the workforce.

The main goal of most companies is to create a safe environment where robots with a greater number of autonomous robotic technologies can work in harmony with humans.

With a boost to location awareness courtesy of sensors and smarter pathfinding, robots could do the heavy lifting and execute all the boring and manual stuff.

We see increased usage of drones in every small aspect of our living. In addition, there is an automated delivery of robot cars.

The future of robotics is being shaped by emerging advancements and developments in robots’ ability to perceive, understand, plan and navigate in the real world. But most significant improvements will be made in the robot’s ability to collaborate and work alongside humans.

They will not replace humans yet, but they are definitely helping do all kinds of work faster, safer, and more efficiently. The smart usage of robots is a huge advantage for businesses and individuals together.

7. Big data and analytics

It is clear that the analytics world is evolving fast.

The trend and demand for data have been rising over the past few years. Big companies that embrace big data analytics and transform their business models in parallel will create new opportunities for revenue streams, customers, products and services. Still, this investment requires trained staff and efficient software programs and tools.

Business analytics tools in combination with AI, are becoming a real competitive advantage for businesses that promote automation, strategic approach, and better decision-making.

From sourcing materials and forecasting demand to accounting and the recruitment processes and training of staff, creating better sales and marketing plans – every aspect of your business can be reinvented.

8. Blockchain

The blockchain technology is not all about cryptocurrencies as it becomes so widely discussed because of the rise of Bitcoin.

Organizations of various businesses can profit and experience great benefits from blockchain. It tends to create a safe environment for the storage of data and information where the authenticity is verified and secured.

The blockchain technology preserves security through the acceptance of its participants. Blocks are distributed amongst users (peer to peer network) and information is protected using private key cryptography and smart contracts.

Rather than information being stored in a single location, data is distributed amongst many smaller decentralized networks working together as if one.

Why is blockchain important?

  • Increased efficiency:
  • Reduced loss and fraud
  • Improved customer experience:
  • Higher availability of capital

Companies that are most likely to benefit from blockchain are those that need transparent and clear transactions, are ready for a digital transformation, and transmit high volumes of information.

To keep up with this rapidly evolving technology, you need to familiarise yourself with blockchain policy in order to understand its effects on business and the future of marketplaces and economies.

Conclusion

The changes in technology are happening so fast, so it is hard to stay in scale with innovation. These two should go hand in hand so there isn’t a waste of resources, time and creative minds.  The list in this blog post highlights some of the most interesting developments but is far from complete and it can be expanded at any time.

Whatever happens, 2021 is an interesting year for major tech opportunities for most businesses that will embrace them. What other technology trends and opportunities would you add to this list?

Related Posts

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More