Recent Technological developments in IT Industry

A considerable IT revolution is taking place all over the world. The Covid-19 pandemic accelerated digitization and automation, letting companies remain resilient even in adversity.

Advanced technology will continue to change our lives and the way we operate, creating enormous opportunities for businesses worldwide.

Let's know about some of the recent technological advancements-

BlockChain

• Blockchain is a system of storing information in a way that makes it difficult, almost impossible to change, hack, or cheat the system. It's a decentralized digital ledger that keeps track of all the transactions through a global network of computers.

• Many people think that Blockchain is just about Cryptocurrency, which is not the case. Bitcoin and other Cryptocurrencies are just an example of Blockchain technology. Blockchain technology is also being used in several other fields such as healthcare, supply chain, logistics, advertising, etc.

• A blockchain is essentially a digital ledger of transactions that are duplicated and distributed across the whole network of computer systems on the blockchain. Each block in the chain contains various transactions, and every time a new transaction occurs in the blockchain, a record of that transaction is added to every participant’s ledger. The decentralized database managed by multiple participants is understood as Distributed Ledger Technology (DLT).

• Blockchain is a type of DLT in which transactions are recorded with an absolute cryptographic signature called a hash.

• Numerous businesses are searching for Blockchain platforms to build top-level business strategies, driving up the market for blockchain technology.

Human Augmentation

• Humans have continuously experimented with technology to enhance their life. This curiosity has led us to the development of Human

• Augmentation basically means taking the help of technologies like Artificial Intelligence and the Internet of Things, to not only improve our daily lives but also to take human intelligence to the next level.

• Human augmentation is a broad term that includes innovations that seek to improve human abilities and productivity.

• This can aid in the improvement of human cognition, perception, and action abilities. Physical augmentation, like prosthetics, AR lenses, and RFID tags infused inside humans, are all a part of the sector of human augmentation. This is accomplished by information fusion and fission, and artificial intelligence.

• For example, companies like Neuralink aim to build an extremely powerful brain-machine interface, with the power to process generous amounts of data.

• Neuralink, Google, Samsung, Ekso are some of the major companies investing in Human Augmentation.

Internet of behavior

• Internet of Things (IoT) extends to the Internet of behavior as well.

• The collection and use of data to drive behaviors are called the Internet of Behaviors (IoB).

• Businesses will be able to follow the customer behavior and use the Internet of Behaviors to benefit their individual channels. For example, a health-tracking app (for example, Mi Fit) may collect information about your physical activity routine, diet, sleep, and other habits.

• This information can be used to encourage more behavioral improvement, such as by creating personalized health plans.

Augmented Reality and Virtual Reality

• Augmented Reality and Virtual Reality are two very popular technology trends, they operate in numerous fields, which include gaming, transportation, education, healthcare, and many others.

• Virtual Reality (VR) is related to creating a realistic environment of the physical world using computer technologies, while Augmented Reality (AR) is concerned with enhancing the environment using computer-generated elements.

• For example, Ed-Tech platforms are increasingly favoring Augmented Reality and Virtual Reality to improve students' learning experiences.

• Cisco, Oculus, and Virtuix are some of the companies which are investing in Virtual Reality.

Edge Computing

• Edge computing is a technology that guarantees low latency and high-speed data processing. Alexa and Google home is commonly known examples of Edge Computing.

• It is a distributed computing paradigm that brings computation and data storage closer to the source of data. This is expected to improve response time and save bandwidth. It aims to run a small number of processes in the cloud and transfer them to places like the user's computer or an edge server.

• Bridging the gap between data and computation eliminates long-distance communication between the server and therefore the client, leading to increased processing speed. Therefore, this technology is used to handle time-sensitive data stored in remote areas.

• Edge application services reduce the volumes of data that must be moved, the consequent traffic, and the distance that data must travel, which provides lower latency and reduces transmission costs.

• One of the applications of Edge computing is cloud gaming, where some aspects of a game could run in the cloud, while the rendered video is transferred to lightweight devices such as mobile phones.

• Other examples include automated cars, smart cities, and home automation systems.

---- Author Astha Singh